Revitalize or Stagnate: Europe's Competitive Dilemma

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Mario Draghi highlights the challenges faced by Europe in fostering competitiveness, pointing to the lack of dynamic new companies capable of disrupting existing industries or driving new growth. He emphasizes that Europe is trapped in a static industrial framework, evidenced by the absence of any European company surpassing a market capitalization of 100 billion euros that has been established in the last half-century. In contrast, all six companies with valuations over a trillion euros in the U.S. have emerged during the same timeframe. This stark difference calls into question the effectiveness of centralized institutions like the ECB and the EU in comparing their authority and resource mobilization to more agile systems in the U.S. and China.

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