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Addressing the widening economic competitiveness gap between the EU and US (Draghi & Letta reports conclusions, structural measures needed at EU and member state levels)​

Day 1 Morning

Wednesday 11 September

Room :

ROOM 1

Speakers

Chair
Mario Nava
Director General - DG Employment, Social Affairs and Inclusion, European Commission
Public Authorities
Alfred Kammer
Director, European Department - International Monetary Fund (IMF)
Paweł Karbownik
Deputy Minister - Ministry of Finance, Poland
Tibor  Tóth 
State Secretar - Ministry of Finance, Hungary
Harald Waiglein
Director General for Economic Policy and Financial Markets - Federal Ministry of Finance, Austria
Industry Representatives
André Munkelt
Chief Executive Officer - Morgan Stanley Europe Group
Marco Valli
Chief Economist - UniCredit S.p.A.
Michael West
President - Moody's Investors Service

Objectives

Over the past 25 years, the European Union (EU) has accumulated a significant economic performance gap with the rest of the world, in particular with the United States (US). One of the most striking aspects of this gap is the persistent difference in growth, productivity and investment levels. The global financial crisis of 2008, the subsequent sovereign debt crisis in Europe, the recent COVID-19 pandemic and the Russian war in Ukraine have all exacerbated these underlying problems.

This opening plenary session will assess the main reasons why Europe’s economic performance has fallen behind its global competitors, in particular the United States, over the last fifteen years. The panel will then focus on the main priorities for improving the competitiveness of the European economy, especially vis-à-vis the United States.

Points of discussion

  • What are the main reasons why Europe’s economic performance has fallen behind that of its global competitors, particularly the United States, over the last fifteen years?
  • What are the priorities to improve the competitiveness of the European economy vis-à-vis the United States and China? Can some of the best American practices be replicated in Europe? What additional national and European measures should be planned for the next European legislative cycle to improve the economic competitiveness of the European Union and increase the willingness of Member States to cooperate?