Von der Leyen: “Draghi report still being drafted.”

Brussels – Mario Draghi’s competitiveness report can wait. How long is unknown because the person who commissioned it, the President of the EU Commission, is silent. Yet, in this regard, she is being pressed by MEPs, who want an update. It “is still in the drafting stage,” cuts short Ursula von der Leyen, outgoing President of the EU executive, in the run-up for a second term. She provided an updated response on July 8 and, therefore, helpful in understanding that if you are not late, you are taking your time as you see fit to get it right.

The competitiveness report was expected in recent months. However, its presentation was postponed for election reasons, a fact that was highlighted, with veiled criticism, in the ranks of the now-former ID group. Jean-Paul Garraud, a French MEP, on April 30, submitted a parliamentary question arguing that the Draghi report has “already been drafted” but its publication “postponed until after the European elections on June 9.” Von der Leyen’s response refutes claims and insinuations.

“The report on the future of European competitiveness that has been commissioned from Mario Draghi in his capacity as special adviser to the President of the Commission is still at the drafting stage,” said von der Leyen. Just under two lines to say that the report still has to be written. It could probably be ready by the end of July, but the real crux remains its publication.  It could slip until after the summer break. However, there are no indications, and the Commission skirts the issue.

Some elements may explain why the Commission is taking its time, if not delaying the presentation. On February 24, in a meeting with economy and finance ministers, Italy’s former Prime Minister sounded the alarm by saying that the European Union urgently needs to find at least 500 billion euros to keep up with a world that demands more and more innovation and competitiveness, as well as meet the need for the twin transition. It is impossible to ask taxpayers to pay this significant amount of money. However, the Eurobond idea does not appeal to many. The knots are there, and they are political. Also political is the choice to postpone until a date to be determined the publication of the long-awaited Draghi report.