Overview
- In a Brussels speech on September 16, Mario Draghi warned that Europe is at risk of falling behind the United States and China and said many of his year-old recommendations remain largely unimplemented as pressures have intensified.
- He called for additional investment worth 4.4–4.7% of 2023 EU GDP to bolster industry, defense and climate priorities, stressing that the bloc must deliver results within months.
- Draghi urged a temporary pause on rolling out strict "high-risk" provisions of the EU AI law, arguing that overregulation could slow adoption and innovation.
- He said reliance on U.S. security ties and Chinese raw materials is weakening Europe’s bargaining power on tariffs, trade and state support, while high energy costs, low corporate AI uptake and chip-capacity gaps persist.
- Commission President Ursula von der Leyen said greater autonomy will take time and pointed to pending trade and raw-material deals and new lithium projects, as reports of up to 1,000 Ford job cuts in Cologne underscored industrial strain.