“Happy one-year anniversary! One year ago the EC presented the Draghi report, a roadmap on how to improve EU competitiveness in light of a widening EUUS productivity gap. In January, the EU Commission followed up with an answer to Draghi’s policy prescriptions, the Competitiveness Compass. It is a selection of flagship measures which stopped short of incorporating the most controversial elements like new joint borrowing and introducing local content requirements. Overall progress is mixed – no game changers, but some substantial reforms. We visualize the state of EU competitiveness in January with a scoreboard and take stock of which concrete policy actions have been launched since then, especially those that go beyond strategy papers. While purely quantitative analysis by Epic finds that around 11% of Draghi’s 383 policy recommendations have been implemented, we assess the materiality of the policy changes.”
Morten W. Langer
