The European Union is moving too slowly in its efforts to boost economic competitiveness, with the region “failing to match the speed” of a changing global order, former European Central Bank President Mario Draghi said.
A year after presenting a report mapping out how the 27-member bloc can leverage its economic strength into greater competitiveness and prosperity, Draghi said Europeans are “disappointed” by the pace of change in a fragmented region. Citizens see that the EU is failing to keep up with global rivals, he said.