“Super Mario” is back. Europe has called on former Italian prime minister and European Central Bank president Mario Draghi to bring life back into the continent's stagnant economies.
European Commission President Ursula von der Leyen last year appointed Draghi as a special adviser to prepare a report on the future of Europe's competitiveness, due to be published in September. The move came amid criticism that von der Leyen's focus on the green transition was neglecting the needs of businesses.
Draghi was praised for his role in saving the euro during the euro zone debt crisis and for his efforts to revive Italy's economy during the coronavirus pandemic. His recent essay in The Economist arguing for deeper fiscal integration in the euro zone, followed by his new advisory role, has been met with enthusiasm in Europe. But he has a lot of work to do.
As the media is at pains to point out, European economic growth is lagging behind that of the United States.
