When Mario Draghi delivered his report on European competitiveness last year, he did not mince words: either Europe reforms radically, or it drifts into decline (see EUROPE B13478A1). Twelve months later, the question is unavoidable: have we changed course or are we sleepwalking into decline?
To be fair, the picture is not all bleak. Since taking office, the new Commission has rightly made prosperity and competitiveness its overarching priority, with nearly half of its 2025 work programme...