The Draghi-report on the widening gap in competitiveness of European industry is an impressive read and wake-up call. The report is giving an official name to many developments that are neither recent nor unexpressed. With the report now on the table, it is important to assess the implications of this macro- and in part meso-economic analysis.
 
The focus on energy in the report is not surprising. The report exudes urgency because the window of opportunity is very small for many EU industries. The EU runs the danger of turning the current wait-and-see posture of industry towards investments into a let’s-pick-up-and-move-elsewhere assessment. The reality is that many companies cannot wait for the Draghi-dust settling down in new policies.
 
The plethora of recommendations, ranging from overarching to detailed interventions, deserve a debate because they will determine the direction of the EU for years to come. The industries may require a bold step by the governments to save the industrial jobs and the innovative transition approaches, they and the ecosystems around them can offer for our future economic activity.