EU Must Integrate Single Market for Global Competitiveness, Says Draghi

Mario Draghi emphasizes the need for European Union countries to integrate into a single market to compete with China and the United States effectively. Speaking at a seminar organized by Bruegel, Draghi highlighted that EU businesses are hindered by cross-border barriers and fragmented regulations, making pan-European business scaling crucial.

The former European Central Bank chief, Mario Draghi, has called for greater integration amongst EU countries to form a single market capable of fostering pan-European businesses.

At a seminar hosted by Bruegel, Draghi noted that fragmented regulations and cross-border barriers are hampering the EU's ability to scale and compete on a global level, especially against powerhouses like China and the United States.

Draghi advocated for an EU-wide strategy to avoid uncoordinated national policies, stressing the need to harmonize spectrum allocations and national regulations to create a unified market, particularly in sectors like telecoms.