Draghi wakes up Europe: to remain competitive in the two transitions, 500 billion a year is needed

Just a character of the authority of Mario Draghi could ring the alarm atEuropean Union like he did atEcofin of Ghent, to which he was invited in view of Competitiveness report which he will have to present after the European elections. SuperMario doesn't like rhetorical expressions but clear and penetrating concepts. Yesterday, however, he did more: he made the numbers speak for themselves. He did it to warn that Europe needs 500 billion euros a year to remain competitive in the double transition: energy and digital, in addition to increased defense spending. An impressive figure that changes the paradigms of growth but which perfectly reflects the thoughts and beliefs that Draghi has developed for some time and on the basis of which he never misses an opportunity to make it clear that the challenges facing the Old Continent are so great that they cannot be addressed at the national level. On the contrary, they servecourageous actions” and the ability to mobilize huge investments, including private ones, as well as common spending programs on the model of Next Generation Eu. The alternative would be the decline of the EU and the widening of the gap with the EU United States. Not all European countries agree but one thing is certain: with his authority Draghi will do everything to convince the European Union to take the only path that can guarantee it a future, putting aside selfishness and nationalism. Yesterday Draghi spoke to Europe but was also thinking of Italy. Applause.