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Mario Draghi, former ECB chief and Italy’s emergency prime minister, delivered a report on Europe’s stagnant economy, calling for a more integrated industrial policy focused on technology and defense to compete with the US and China. The report proposes a significant increase in investment to boost GDP by 4.7 points, but its ambitious nature and the EU’s current political challenges may hinder its implementation. Despite the urgent need for reform highlighted in the report, EU leaders have shown a lack of enthusiasm in addressing the economic decline, raising concerns about Europe’s future and the impact on the UK.
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