The EU is looking for inward growth as it sets out its Competitiveness Compass, a direct result of former Italian Prime Minister Mario Draghi’s report into European Competitiveness.
“Over the last two decades, Europe has not kept pace with other major economies due to a persistent gap in productivity growth. The EU has what is needed to reverse this trend with its talented and educated workforce, capital, savings, Single Market, unique social infrastructure, provided it acts urgently to tackle longstanding barriers and structural weaknesses that hold it back.”
The backbone of the initiative includes three “core areas” and comprises of five “horizontal enablers” that are meant to boost productivity and growth in the Single Market.
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