Basque Economics Worldwide Leadership’s Post

Welcome to the 15th edition of Newsletter Basque Macroeconomics 5.0 published by Web 2.0: Basque Economics Worldwide Leadership led by Joseba Madariaga Macroeconomics & Econometrics Professor PhD in Economics Mario Draghi is a name that evokes moments of great significance in recent European history. In 2012, when the euro was on the brink of collapse, Draghi famously declared, “Whatever it takes” as President of the European Central Bank (ECB). That simple statement, accompanied by extraordinary monetary policy measures, succeeded in preventing the collapse of the common currency and strengthening European cohesion during a time of crisis. Today, more than a decade later, Draghi returns to the stage, this time with a new report offering a critical diagnosis of European competitiveness and proposing a series of reforms to reposition Europe on the global stage. In my reflection, after reading this report, I find that while many of the issues it addresses are already known, the value of Draghi’s work lies in his ability to bring all these elements together in a thorough and well-structured analysis. However, as we will see throughout this article, the greatest challenge is not so much identifying the problems as it is implementing solutions within a fragmented and diverse European architecture.

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