AFP: Reforming Europe’s economy is all the more urgent following Donald Trump’s US election win, warned the author of a blockbuster report, Mario Draghi, ahead of talks Friday with EU leaders in Budapest on tackling the challenge.
Leaders attend the informal EU Summit at the Puskas Arena, in Budapest, Hungary, November 8, 2024. — Reuters
Although Europe’s public reaction to the Republican’s return has been cautious, officials are on full alert over the implications for the EU economy if he delivers on his threats and slaps higher tariffs.
Published in September, the sweeping document raised the alarm over Europe’s failure to keep up with the United States, pointing to the EU’s low productivity and economic slowdown.
The former Italian prime minister rejected a wholly pessimistic take on Trump’s return, saying: “There is no doubt that the Trump presidency will make a big difference in the relations between the United States and Europe. Not necessarily all in a negative sense, but certainly we must take note.”
