The imperative of invigorating the EU's productivity and competitiveness

The EU and its member states need to tackle multiple urgent transitions: the green transition, the digital transition and the upscaling of European defence capabilities. In an environment of geopolitical uncertainty and geoeconomic fragmentation, vulnerability of supply-chains and reversing of multilateralism, the need to radically boost European productivity and competitiveness is non-negotiable. Those topics are now at the top of the EU agenda and are expected to stay relevant for the years to come. Much is at stake, and as Mario Draghi identifies in his report, The future of European competitiveness, “This is an existential challenge” (September 2024).