Slow Agony or Radical Change? 

With Mario Draghi calling for a “radical change” in European policy, Francesca Siciliano Stevens hosted Philippe Adriaenssens, Policy Director at the European Roundtable for Industry (ERT), for a live 20-minute discussion on recent developments in Brussels, with a focus on Draghi's report. They explored whether the new political cycle signals significant changes in EU policy, identified structural reforms to unlock Europe’s potential, and examined how to restore competitiveness amid global challenges.

Adriaenssens provided historical context, citing Jacques Delors' 1980s programme, which boosted growth, enlargement, and productivity. However, he expressed concern over the lost dynamism of that period, hoping Draghi's report could restore it. Stevens highlighted a 3.2% decline in industrial production over the past year and Draghi’s "slow agony" remarks and stressed the need for change to reverse this decline and support a stable economic future for Europe.

During the discussion, Adriaenssens highlighted how recent climate protests have highlighted the urgency for action, leading to a strong focus on the European Green Deal, which aims to make Europe the first climate-neutral continent. Both speakers expressed the willingness of industry to achieve the goals of the Green Deal, adding that to achieve decarbonisation, it is crucial to maintain industrial competitiveness and promote innovation in clean technologies, such as solar panels, wind turbines, and hydrogen. Both policy experts welcomed the fact that Mario Draghi discussed decarbonisation through a competitiveness lens.

The speakers also noted that national barriers are costing Europe 10% of its GDP potential, emphasising the need for better harmonisation across sectors. They identified deepening the Single Market and creating a single, coherent regulatory framework that allows companies in Europe to thrive from the bottom up as the key to improving the industry.

Watch the full session here.