Draghi’s Plan to Save the EU Economy Explained

In this video, we’re going to look at the recently released report by Mario Draghi - 'The future of European competitiveness'. We'll discuss Draghi's prognosis for the European economy; his proposed remedies; and what might happen next.

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[grimaffiliations]

Draghi seems to be the only one who learned from the mistakes of post-2008 austerity. Europe should take his suggestions seriously if it has any hope of competing with China and the US

[BerlinBoi]

- OK Mario you’re the smart guy how do we save EU competitiveness?
- Spend more
- No not like that

[olopek]

It's so frustrating to hear that Germany has already basically shut down the idea of increased lending for innovation investment. The country is going through its own stagnation fueled by shortsighted investment policy and is now dragging down the rest of Europe for a similar fate. If Draghi's report is mostly disregarded this will be a mistake of historical proportions - once again ignorance fueling the downfall of a once great empire. I hope the power of European diplomacy sorts this one out and we can hope for a rebound of European economies

[TilSchweiger-if]

Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

[TruenoBestWaifu]

I'm afraid this entire report will go basically ignored. A lot of countries are against a shared debt, a closer cooperation on important matters will be impossible as long as certain mechanisms are still in place (i.e. veto), some people still think their country would be doing better without the EU, European institutions are still not taken (as) seriously (they're basically a backup plan once your political carreer in your own country is done, mostly)... I'd kill for a european confederation, honestly.

[hungrymusicwolf]

I was very eurosceptic in the past, but even though I am critical of our current bureaucrats I have to admit we desperately need a solid unified foreign and economic policy.
We just can't afford to keep going like this.

[EdoardoPadovani]

4:40 - renewable energy AND NUCLEAR ENERGY! This is a CRUCIAL tool to reduce energy prices and increase energy independence, and is correctly mentioned in Draghi's report multiple times, the video should include it too!

[albevanhanoy]

Short-term thinking will slowly kill us. Draghi has a true vision. I may not agree with 100% of his plan, but at least he has a plan, and quite frankly that's the most important part. Europe faces a choice of standing united in an ever closer union to achieve prosperity, or split apart and become a bunch of irrelevant third world countries.

[alexisgoat]

Draghi is literally the only one who cares about the EU how about listening to him?

[hiphopnerd]

I agree, coming from Portugal, we should risk it all now or never, china and US have huge debt and both countries are in a lot of ways doing better than europe

[Minimmalmythicist]

The EU leadership over the last 15 years has been useless to say the least. I can´t think of a time in history when we´ve had a more inept bunch of politicians in charge. The EU had a decent chance of overtaking US productivity in the early 2000s, indeed the countries that have reversed austerity, i.e Spain and Portugal are actually doing quite well in terms of growth.

The other problem is everyone wants to take from the EU, but few people want to contribute. The Germans are pro-EU to the extent that they´re running it, the same with the French, the Netherlands are pro-EU because they need free trade with Europe desperately, but ask them to have a minimum EU corporation tax and they´ll use the veto, Hungary is pro-EU for all the subsidies, but ask Orban to obey basic human rights laws, and he´ll throw a giant hissy fit.

That´s the problem, many countries are only pro-EU to the extent that it benefits themselves. We really need a moment like the US had in 1789, when they realised "we can´t keep going on like this, we´re going to have to commit to more unity".

[DarkHarlequin]

This is my least favorite thing about News-YT channels like TLDR (or the news in general). EVERYTHING is always ´End of the World phrasing. "The EUs Economy is crumbling!" "EUs faltering monetary system" "Chinas crushing economic situation!" "The USs irreversible crisis", "Koreas dying out!" - When the worlds most wealthiest economies have a blip on the GDP radar TLDR seems to go ´Sweet it`s Doom o clock!´. The EU economy or Chinas economy are talked about with the exact same vocabulary as a Venezuela or a Pakistan.
Yes the EU economy is going through some crisis, but NO the EU market isn´t going anywhere. Yes Chinas domestic consumption crisis is not resolving, but NO China will not crumble and seize to be an influential world power.
Jesus Christ TLDR. Really? I understand the clkickbait titles are "Absolutely needed" (according to Zac) but is the consistent ´Doom is here´ language also absolutely needed. We already clicked on the video!
It´s a choice whether you write "it´s a question whether the EU will be willing to fund such a project amongst numerous other financial pressures" or "it`s questionable that the EUs failing economy can afford any reform" One is highlighting why economic pressures can lead to unwillingness to invest, the other is stopping half a step short of claiming the EU is out of money and the market has collapsed... 😑😑

[johnsamuel]

Shared debt sound like a good idea if the EU controls where the money will be spent strictly.
Otherwise its a bad idea as economics like France, spain, italy and greece will spend recklessly

[havencat]

well done! as a european i feel EU should compete with both superpowers! US is our protector but... they hold us back economically! That is super clear when you look at where we are.

[grimaffiliations]

Having the ECB operate like a lender of last resort to support the bond markets of European nations that make large investments in their countries would be a great idea

[thenamesianna]

He is back ! The legend is back ! Super Mario !!!

[enricobonomi]

I don't love Draghi, but this report says it all and does it well. Too bad nothing will ever come of it.

[bip]

1. All EUmembers should implement same retirement age (netherlands is 67, greece is 50 I think), so that can increase productivity
2. All super rich and big companies pay the same percentage of taxes, so they can't move for better deals in other EUcountries

I think this will make things more fair. What do you think?

Note: after googling, the differences aren't that big in retirement age. Only in some countries women can retire 5 years earlier, so that could change

[stevievorce]

Nobody is talking about how tax-heavy Europe is vs the US. Also, how much more favourable US regulation is to business

[steffenberr]

Its not like Europe is unique in proposing debt to pay for this. The US has a gigantic deficit thats 7% of GDP right now