(ANSA) – BRUSSELS, FEB 18 – The EU must radically reform the way it operates so it can behave like an individual State to face the huge challenges before it, former Italian Premier and former European Central Bank president Mario Draghi told the European Parliament on Tuesday.
“It is increasingly clear that we must act more and more as if we were a single state to meet the EU’s challenges,” said Draghi, who last year presented a report commissioned by the European Commission on how to revamp European competitiveness.
“The complexity of the policy response involving research, industry, trade and finance will require an unprecedented degree of coordination between all actors: national governments and parliaments, the Commission and the European Parliament.
“The response to the new situation around the EU must be rapid, because time is not on our side, with the European economy stagnating while much of the world is growing.
“It must be commensurate with the scale of the challenges.
“And it must be focused on the sectors that will drive further growth. Speed, scale and intensity will be essential.
“We must break down internal barriers, standardize, harmonize and simplify national regulations and push for a more equity-based capital market”. (ANSA).
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“It is increasingly clear that we must act more and more as if we were a single state to meet the EU’s challenges,” said Draghi, who last year presented a report commissioned by the European Commission on how to revamp European competitiveness.
“The complexity of the policy response involving research, industry, trade and finance will require an unprecedented degree of coordination between all actors: national governments and parliaments, the Commission and the European Parliament.
“The response to the new situation around the EU must be rapid, because time is not on our side, with the European economy stagnating while much of the world is growing.
“It must be commensurate with the scale of the challenges.
“And it must be focused on the sectors that will drive further growth. Speed, scale and intensity will be essential.
“We must break down internal barriers, standardize, harmonize and simplify national regulations and push for a more equity-based capital market”. (ANSA).
Read article…
