Mario Draghi

Mario Draghi's findings in his report "The Future of European Competitiveness," and the concerns of academics, professionals and entrepreneurs, lead to the conclusion that Europe is not just at a critical point, it is on a cliff's edge. High ambitions and a lack of strategy threaten the Union's security and prosperity.

The Letta and Draghi reports serve as a "wake-up call" for the EU, Greek Economy and Finance Minister Kostis Hatzidakis said in Luxembourg on Tuesday, where he took part in the Eurogroup and ECOFIN meetings.

"More immigration is necessary. Existing projections already assume substantial immigration, which, however, is insufficient to reverse aggregate aging." This bold statement was made recently by Rolf Strauch, chief economist of the European Stability Mechanism, in his latest report on demographics and financial stability.

Europe's difficulties are multiplying.

Mario Draghi recently released a report on Europe's competitiveness that has sparked debate across the continent. The report, which shows Europe lagging behind the US and China in a number of areas, has many asking if the continent's leaders will heed his call to action.

In Europe, we all needed what Mario Draghi offered us last week. In the 400 pages of his report on the future of European competitiveness, he first reminded us of the values on which it was founded and for which the European Union deserves to exist.

Ekaterina Zaharieva gave her first comment after being nominated for the role of European Commissioner for Startups, Innovation, and Research. She highlighted that this is one of the key portfolios for the future, playing a crucial role in the next European Commission.

Greek Prime Minister Kyriakos Mitsotakis has urged the European Commission to address distortions and fragmentation in the European energy market, which led to significant discrepancies in wholesale electricity prices between Southeastern Europe and other EU countries during the summer, according to the Financial Times.

Mario Draghi's warnings about the future of the European Union if it does not proceed with radical solutions for its economy are more than clear. 

Prolonging inactivity will jeopardize the well-being and safety of its citizens, even its raison d'etre, he said in his long-awaited report. 

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