Answering Draghi’s Call to Action

Answering Draghi’s call to action, young entrepreneurs step up for Europe’s future

If the report on the Future of European Competitiveness recently published by Mario Draghi and his expert group left any room for doubt, the conferences he participated in over the past few weeks certainly dispelled any uncertainties. Draghi's message is not just important for scholars and EU enthusiasts; it is imperative for policymakers and officials who must acknowledge this report to ensure that the European Union takes the right course of action. According to Draghi, this is not a matter of political opinion — it is a necessity. He stated that investments and policy shifts he proposes are vital, and it is not a matter of if they will happen, but when. The sooner these measures are implemented, the better positioned the EU will be to face its future challenges.

"The Future of European Competitiveness" sets out a series of urgent reforms that the EU has to go through to secure our position in various fields such as technology, innovation, energy, and green transition, where global leaders, particularly the US and China, have taken the lead. The vision of the report is mainly grounded on the idea that the EU must not retreat into protectionism but instead embrace global competition and improve conditions for its internal market to flourish.

In his speech with President Ursula von der Leyen , after the publication of the report, Draghi was clearly concerned about the slowdown in growth in recent years. As he pointed out, growth was not a priority for the EU until two years ago. The European project was enjoying a relatively prosperous period until the global order suddenly collapsed.

Draghi and his expert group are calling for huge investments, on a scale last seen in the '60s and '70s with the development of the Common Agricultural Policy, the European Regional Development Fund, and the oil crisis. During Bruegel - Improving economic policy "The future of European competitiveness: a conversation with Mario Draghi", Draghi emphasised: "We need a radical change […] that is urgent and concrete". These, he said, are the two keywords to keep in mind when reading his report.

As JE Europe, representing the entrepreneurs of the future, we welcomed Draghi's emphasis on the importance of investing in human capital, in particular in upskilling and reskilling the workforce to meet the demands of the 21st century. This is at the heart of our mission, and this is why we support Draghi's message. Like him, we believe in the importance of tangible, active approaches - such as field-specific courses among Junior Entrepreneurs or mentorship programs - that add immediate value both to the students and to the wider European economy in the long term.

While the large-scale investments proposed by Draghi rely on action from member states, the broader vision he presented remains important for Europe’s future. Alongside the need for a more skilled workforce, Draghi highlighted the strengthening of European networks and the enhancement of cooperation between countries. These are areas we focus on, thanks to the European-wide network of Junior Enterprises that we can use to collaborate in fields from entrepreneurial development to Public Affairs.

Draghi's report is a reminder that Europe's strength lies in its ability to adapt, innovate and grow. From economic and political crises and most recently the COVID-19 pandemic, the EU has faced many challenges since the very beginning of its creation. Yet each time, the Union has emerged stronger by adapting and evolving. Draghi's vision is a call for the EU to take another bold step forward, and it is one that will require the active involvement of all stakeholders, from policymakers to private companies. But it also calls for the active involvement of us, the next generation. In our European Network of Junior Enterprises, we know that we can play a role in shaping a better European future, and we are confident that we will manage to do it and make sure that the EU is ready to face new global challenges.