In recent years, there have been significant changes in the global economic order which have had a series of consequences, one of which is clear: Europe will need to invest a huge amount of money in a relatively short time. Former Italian Prime Minister Mario Draghi expressed his eagerness to discuss how Finance Ministers are preparing to finance these investment needs. Draghi emphasized the importance of not only public funds but also private savings, and how these resources could be mobilized on a much larger scale than in the past. He arrived in Ghent for an informal meeting of Finance Ministers to discuss the future of European competitiveness, where he will be contributing to a report on the topic.
European Commissioner for Economics Paolo Gentiloni, upon his arrival at the informal Ecofin meeting in Ghent, expressed anticipation for an interesting discussion with Mario Draghi regarding the work he is doing on the European competitiveness report. Gentiloni emphasized the importance of their discussion and the valuable contribution that Draghi will make. He noted that the topic of European competitiveness will be a priority on the agenda, both now and in the future, and it is crucial to identify the factors influencing competitiveness effectively.
The Vice President of the European Commission, Valdis Dombrovskis, also expressed eagerness to begin the discussion on EU competitiveness with Mario Draghi at the informal Ecofin meeting in Ghent. Dombrovskis highlighted the necessity of ensuring the long-term maintenance of competitiveness in Europe. Draghi’s message stressed the strategic position of Europe being under pressure and urged Finance Ministers to propose solutions for financing the challenges ahead for the EU. The Belgian Finance Minister Vincent Van Peteghem noted Draghi’s clear message of the need for solutions to finance the EU’s challenges during the press conference following the informal Ecofin meeting in Ghent.
Overall, the discussions at the Ecofin meeting centered around the urgent need for significant investments in Europe and the importance of mobilizing public and private resources to meet these challenges. Mario Draghi’s presence at the meeting brought attention to the current issues facing Europe in terms of competitiveness and the strategic positioning of the continent on the global economic stage. The Finance Ministers and European officials emphasized the need for proactive measures to address these challenges and ensure the long-term competitiveness of the EU. Draghi’s contribution to the discussions was viewed as crucial in shaping future policies and strategies to enhance European competitiveness.
