EU: Draghi tells leaders that economic outlook has deteriorated and urgent action is needed

Bilzen (Belgium), 12 February (LaPresse) – The informal meeting of EU leaders on competitiveness at Alden Biesen Castle began with a presentation by Mario Draghi, who highlighted “the deterioration of the economic landscape since the presentation of his report and the urgency of addressing all the issues raised at that time”. This was reported by an EU official. According to reports, the discussion with Draghi focused on several key topics: the need to reduce barriers in the Single Market, the fragmentation of stock markets and efforts to mobilise European savings, the cost of energy, the possibility of targeted European preference in certain sectors and, finally, on the decision-making process, the possibility of enhanced cooperation to move forward more quickly on some of these issues, if necessary, as provided for in the Treaties. Finally, there was an “in-depth exchange” of views with the Heads of State and Government, who asked questions on issues such as investment challenges, the Savings and Investment Union, the functioning of the energy sector, merger guidelines and the international role of the euro.