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'While it is clearly necessary for some in Europe to cut back on operating expenditure, new debt is essential to revive investment, which is a prerequisite for a return to growth, for European industry to stay in the race against the United States and China, for the single market to benefit more from domestic consumption and thus support household purchasing power, whose stagnation feeds the extremes'. With the former President of the European Central Bank, Mario Draghi, due to unveil his report on competitiveness, commissioned by the European Commission, Jean-Dominique Giuliani offers his analysis of the future of the European economy.
To go further
Editorial
12 October 2026
Public and private debt is rising everywhere, in the United States as well as in China, whilst criticism often focuses on Italy or France. Debt is not a moral failing but a management issue, one th
Editorial
5 October 2026
During his apostolic journey to France, Pope Leo XIV made Europe the central theme of his speech delivered in Metz on 28 September. Expressing his commitment to a just and united world, he drew on
Editorial
25 September 2026
As China's commercial stranglehold tightens on Europe, the European Union must rethink its approach to free trade. With European markets flooded with Chinese exports that threaten jobs and widen th
Editorial
7 September 2026
Both contested and sought after, Europe embodies the relative exercise of sovereignty in the 21st century. Just as the 'European reflex' has taken hold amongst the continent's economic and social a
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