In a bold move to reshape the European Union’s financial and regulatory framework, former Italian Prime Minister Mario Draghi has proposed a comprehensive reform plan that would increase the EU budget by an additional €800 billion each year. He detailed the proposal at his recent press conference at the Sala Polifunzionale of the Presidency of the Council of Ministers.
Draghi’s ambitious plan aims to address several systemic problems within the EU, significantly increasing investments in key sectors such as technology, healthcare and green energy. The proposal is seen as a necessary step to improve the EU’s competitiveness on the global stage and better equip it against current and future economic challenges.
The call for more funding and strategic reforms comes at a time when the EU is navigating complex geopolitical tensions and internal disparities among member states. Draghi stressed that the additional funds would be instrumental in achieving a more united and solid European Union.
This proposal has prompted a wide range of reactions from EU policy makers and stakeholders, triggering discussions on the feasibility of such a massive increase in budget allocations and its potential impact on EU economic policies.
Draghi’s reform drive is a key starting point for a debate on how the European Union can evolve to meet the needs of the 21st century, while ensuring sustainable growth and stability for all Member States.
