• Mario Draghi’s report on Europe’s declining competitiveness poses a significant challenge for policymakers. While it has broad support, implementation will be hindered by fragmentation and a lack of political consensus.
• A combination of low investment and low productivity has undermined Europe’s competitiveness. Companies are hesitant to invest due to weak expected growth, creating a vicious cycle that is stifling further economic progress.
• Draghi advocates significant structural reforms — including a rethink of regulation and more financial market integration — and a more flexible governance framework within the EU that will not stifle progress in the adoption of new technologies.

Summary

• Topic of the Month 
• Macroeconomics, Geopolitics, and Strategy 
• Global Investment Views 
• Macroeconomic and financial market forecasts

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