Mario Draghi launches Rhine Group to drive EU economic reforms

Mario Draghi, the former President of the European Central Bank, has co-founded the Rhine Group alongside Stripe CEO Patrick Collison. The new independent organization aims to accelerate the implementation of economic reforms across Europe, specifically addressing the slow adoption of recommendations from Draghi’s 2024 report on European competitiveness.

The group consists of 55 members, including economists, tech entrepreneurs, investors, and former public officials. Luis Garicano serves as the executive director. The initiative seeks to bridge the gap between economic diagnosis and political execution by focusing on consensus-building and coalition formation to overcome institutional paralysis.

However, the group’s composition has drawn criticism for its lack of geographic diversity. Observers noted that among the 55 members, only one represents Central or Eastern Europe—former Estonian President Toomas Hendrik Ilves—leaving many EU member states from that region without representation in the initiative.