Launch of the Rhine Group for EU competitiveness

Mario Draghi, former President of the European Central Bank, has launched the ‘Rhine Group’, a new think tank designed to enhance European Union competitiveness and innovation. Working with entrepreneur Patrick Collison, the group consists of 55 experts, including Nobel laureates, aimed at converting economic diagnoses into political action.

The initiative seeks to implement the recommendations of Draghi’s 2024 report on European competitiveness, which had previously seen stalled practical application. The group focuses on addressing growth stagnation, energy insecurity, and technological dependence to prevent a widening gap between Europe and the United States and China.

Proposed strategies include increasing investment, reducing single market fragmentation, and transferring more sovereignty from national governments to the EU. Executive Director Luis Garicano stated the group aims for Europe to become a ‘superpower of innovation’ by bypassing the slow pace of traditional institutions. However, some critics note that competitiveness issues may also stem from large European firms failing to transition toward green and digital technologies.