Mario Draghi's recent report urges the EU to invest €800 billion annually to address stagnation and enhance competitiveness against the US and China. Highlighting Europe's innovation gap, Draghi emphasizes the need for a unified approach to economic and defense strategies amid rising global tensions.
The EU has faced persistent economic stagnation, exacerbated by the COVID-19 pandemic and geopolitical tensions, particularly following Russia's invasion of Ukraine. Draghi's report, commissioned by the European Commission, aims to address these challenges and propose a comprehensive strategy for revitalization.
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The European Union is a political and economic union of 27 member states that are located primarily in Europe. Its members have a combined area of 4,233,255.3 km² and an estimated total population of about 447 million.
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Ursula Gertrud von der Leyen is a German politician and the president of the European Commission since 1 December 2019. She served in the federal government of Germany from 2005 to 2019 as the longest-serving member of Angela Merkel's cabinet.
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The European Central Bank is the central bank for the euro and administers monetary policy within the Eurozone, which comprises 19 member states of the European Union and is one of the largest monetary areas in the world.
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Christian Wolfgang Lindner is a German politician, member of the Bundestag, and leader of the liberal Free Democratic Party of Germany.
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China, officially the People's Republic of China, is a country in East Asia. It is the world's most populous country, with a population of around 1.4 billion in 2019.
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The United States of America, commonly known as the United States or America, is a country mostly located in central North America, between Canada and Mexico.
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Ukraine is a country in Eastern Europe. It is the second-largest European country after Russia, which borders it to the east and northeast.
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The North Atlantic Treaty Organization, also called the North Atlantic Alliance, is an intergovernmental military alliance between 30 North American and European countries.
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Germany, officially the Federal Republic of Germany, is a country in Central and Western Europe. Covering an area of 357,022 square kilometres, it lies between the Baltic and North seas to the north, and the Alps to the south.
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Emmanuel Jean-Michel Frédéric Macron is a French politician who has been President of France and ex officio Co-Prince of Andorra since 14 May 2017.
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Russia, or the Russian Federation, is a transcontinental country located in Eastern Europe and Northern Asia. Covering an area of 17,125,200 square kilometres, it is the largest country in the world by area, spanning more than one-eighth of the Earth's in
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The European Commission is the executive branch of the European Union, responsible for proposing legislation, implementing decisions, upholding the EU treaties and managing the day-to-day business of the EU.
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Elon Reeve Musk FRS is an engineer, industrial designer, technology entrepreneur and philanthropist. He is the founder, CEO, CTO and chief designer of SpaceX; early investor, CEO and product architect of Tesla, Inc.; founder of The Boring Company; co-foun