Does Europe’s economy need Mountain Dew?

EU Confidential

POLITICO

Politics, News Commentary, News

4.4 • 175 Ratings

🗓️ 13 September 2024

⏱️ 35 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

While Brussels has been obsessed recently with the “Draghi report,” that’s NOT the topic of this week’s episode. We will, however, discuss WHY Brussels is so besotted. (Spoiler alert: It's because Europe’s economy is broken.) Host Sarah Wheaton talks to POLITICO’s Carlo Martuscelli and Carsten Brzeski, global head of macro at ING Think, about why the EU is falling so far behind big competitors like the U.S. and China; as well as about the political factors that got us here — and are keeping us stuck. We also check in with POLITICO’s chief EU correspondent, Barbara Moens, about the bottlenecks impeding the new Commission leadership; and with senior correspondent Clea Caulcutt in Paris about French Prime Minister Michel Barnier’s biggest challenge since Brexit. Further readings: Mario Draghi’s plan to fix a broken Europe already looks impossible, by Carlo Martuscelli Europe’s new normal: High energy bills, fading industry and one chance to fix it, by Carlo Martuscelli and Victor Jack Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:31.7	We are already in a crisis mood.
0:34.3	Not to acknowledge this state is...
0:37.3	So folks, I've got good news and bad news.
0:42.2	This episode is not about the Draghi Report.
0:45.7	The hotly anticipated prescription for fixing Europe's economy that everyone in Brussels has been obsessed with for months.
0:53.2	The urgency is there.
0:56.6	We're geeky here at EU Confidential,
0:58.9	but even we don't want to get too deep into those weeds.
1:02.5	So that's the good news.
1:04.1	But here's the bad news.
1:06.1	We're going to talk about why everyone in Brussels has been so obsessed.
1:10.9	It turns out Europe's economy is broken, and it's been falling behind other big players,
1:16.6	like China or the U.S., in a way that's increasingly visible and worrying.
1:21.6	We are becoming ever smaller.
1:24.1	We must genuinely fear for our self-preservation.
1:28.3	So just to quote ex-Italian Prime Minister Mario Draghi briefly, he says that if there's not serious
	...

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