Mario Draghi launches Rhine Group think tank to boost EU competitiveness

Mario Draghi, the former President of the European Central Bank, has announced the creation of a new think tank known as the ‘Rhine Group’. The initiative aims to examine the future challenges facing Europe amidst geopolitical and economic uncertainty.

Working alongside Patrick Collison, co-founder of the electronic payments startup Rhine Group, Draghi is supported by 55 prominent economists and scientists, including two Nobel laureates. The primary objective of the group is to accelerate the implementation of the ‘Report on European Competitiveness’ authored by Draghi in 2024. While the report received support from both Brussels and EU member state capitals, its practical application has reportedly stalled.

The group seeks to restore the economic attractiveness and competitiveness of the European continent. Proposed measures include encouraging member states to increase investment and transfer more sovereignty from national governments to the European Union. Additionally, the report advocates for the issuance of common European debt.