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Beljaarts: Draghi’s proposal for extra billions is difficult in the EU

by AI | 26.Sep 2024 | Europe in brief AI

BRUSSEL (ANP) – The Draghi report on strengthening European competitiveness has been “warmly received” by the Ministers of Economic Affairs, said Dutch Minister Dirk Beljaarts (Economic Affairs) on Thursday after a meeting with his European colleagues. At the same time, he has heard many “ifs and buts” regarding the proposal by the former president of the European Central Bank to inject an additional 800 billion euros annually into the European economy.

The EU Ministers of Economic Affairs have spoken for the first time about the report by Mario Draghi, which he prepared on behalf of Ursula von der Leyen. Photo: Aurore Martignoni/European Commission/dpa

Beljaarts found that “good to hear”. The Netherlands also “is not eager” to allocate extra money to strengthen the European economy.

Draghi emphasizes in his recently published report that radical change is needed in the economy of the European Union. If that does not happen, the EU threatens to no longer play a significant role on the global economic stage and to lose the battle to economic powers like the United States and China.

The Economic Affairs ministers of the EU member states gave their first response to the report on Thursday in Brussels. Beljaarts heard a lot of appreciation for the analysis, the course, and the necessity for EU member states to work together on this, he said in Brussels. Draghi advises, among other things, speeding up innovation, working towards low-carbon production, and lowering energy prices.

Beljaarts proposed on Thursday to separate the discussion. “We do not want to cloud the substantive discussion with how we are going to finance it, because that may do a disservice to the content.”

The Draghi report was commissioned by Ursula von der Leyen, President of the European Commission. The analysis of the poor state of the European economy and plans to turn the tide are high on the European political agenda in the coming weeks and months.

(September 26)