Europe Faces Existential Challenges Amid Trump's Influence

Former European Central Bank chief Mario Draghi warns that Europe must undertake radical reforms and increase investment to avoid economic decline and close the gap with the United States. His report calls for a new industrial strategy, significant investment in innovation, and a cautious approach to trade policy. Draghi emphasizes the need for both public and private sector investment, joint borrowing, and streamlined regulations to enhance productivity and competitiveness. He also highlights the importance of closing the innovation gap and improving capital market efficiency.