John Whelan: Mario Draghi's agonising EU decline may drag down Ireland
Last week, former ECB president Mario Draghi released a long-awaited report into EU competitiveness. It called on the EU to invest as much as €800bn extra a year and commit to the regular issuance of common bonds to make the bloc more competitive with China and the US. Picture: Brian Lawless
The EU faces a “slow and agonising decline”, according to a hard-hitting report released last week by the former European Central Bank president Mario Draghi that calls for an €800bn-a-year spending boost to end years of stagnation.
“We are already in crisis mode, and to ignore this is to slide into a situation you don’t want to have,” said Mr Draghi.
