EU leaders prepare for economic reforms in response to Trump's return

inquirer.net November 8, 2024, 05:01 AM UTC

EU leaders are set to discuss major economic reforms in response to Donald Trump's return to U.S. politics. A report by former European Central Bank head Mario Draghi highlights the need for Europe to invest an additional 800 billion euros annually to remain competitive.

The report calls for common borrowing and reforms to competition policy, but faces resistance from Germany and other northern countries. Leaders will focus on funding strategies, but concrete proposals may take months to develop.

While there is consensus on the need for investment, disagreements on financing methods could hinder progress. The discussions aim to enhance cooperation and create unified markets, but the implementation of reforms remains uncertain.

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