Report by Mario Draghi calls for additional investment to regain growth and prevent social unrest
Business live – latest updates
The EU should fear for its self-preservation as it faces a “slow and agonising decline”, according to a hard-hitting report by the former Italian prime minister Mario Draghi that calls for an €800bn-a-year spending boost to end years of stagnation.
Warning that the Covid pandemic and Ukraine war had changed the rules of international trade to the EU’s detriment, he said the bloc needed additional investment of €750bn-€800bn a year – equivalent to 5% of the EU’s annual economic output – to build a more resilient economy and regain previously high rates of productivity growth.
About Author
More Stories
Xi Jinping tells Alibaba’s Jack Ma and Chinese tech chiefs to ‘show their talent’
Hackers steal $1.5bn from crypto exchange in ‘biggest digital heist ever’
‘I felt nothing but disgust’: Tesla owners vent their anger at Elon Musk