Greens/EFA Group welcomes that Draghi report recognises urgent need for EU action on decarbonisation, competitiveness & jobs

Today, Mario Draghi the former Prime Minister of Italy and former head of the European Central Bank, has just come out with his Commission-mandated report on the future of competitiveness in the EU, which suggests a swath of potential reforms of the EU’s economic and industrial policies, defence capabilities, as well as changes to the EU’s governance structures.

Terry Reintke MEP, President of the Greens/EFA Group, comments:

“We welcome that the Draghi report recognises that competitiveness and decarbonisation are two sides of the same coin. It is essential to revive the EU’s economy and leadership on the global stage. We must treat the need to give Europe the competitive edge and the green transition of our industry as an opportunity to create jobs and radically improve the lives of people in Europe and secure our future. 

“It’s important that the report clearly recognises that the EU’s energy market is still dominated by fossil gas and other vested interests. We welcome that Draghi sees the need to ensure that the benefits of cheap renewable energy are maximised for consumers and for the climate.

“We have long been calling for the EU to move beyond the vetoes of a few Member States in the Council. The Draghi report recognises this and the EU must move forward on its decision making capacity so that we do not spend another decade being held back by autocrats like Viktor Orban. As Draghi clearly emphasises, we need to improve the welfare of all Europeans in respect of EU values and the Treaties. The EU needs to increase its democratic legitimacy, chiefly through greater involvement of the European Parliament and other EU institutions in decision making. 

“The EU must be the global leader in the green transition if we are to meet our climate goals and spur on a new green industrial revolution in order to deliver on the promise of a Europe that works for people and planet.”

Bas Eickhout MEP, President of the Greens/EFA Group, comments:

“The Draghi report states that we need massive investment in an industrial policy that protects our economies from global threats. We need common financial instruments in the spirit of Next Generation EU. The EU needs to encourage the inward investment of private savings and corporate profits within the EU, while avoiding excessive outflow to shareholders. 

“We cannot hamper our own competitiveness by pursuing fiscal policies that entrench austerity and undermine investment. The EU will need to have its own resources to grow funding at the EU-level as well as harmonising tax policies between member states to end the race to the bottom that only hurts states finances. 

“Finally, trade policy should be put in line with the preservation and promotion of manufacturing capacities for green technologies in the EU, while fostering win-win partnerships particularly with  developing countries.”