The European Union needs to find a way to finance the green and digital transitions more quickly and must do it before the next budget comes into force in 2028, according to economists.
The recent landmark report by former Italian Prime Minister Mario Draghi found a shortfall of €800 billion in EU financing for Europe to catch up with global competitors.
Where to find that money was the focus of a roundtable discussion at Euractiv, hosted by the Polish Economic Institute in early December.
Negotiations on the EU’s 7-year budget for the 2028-2035 period are already beginning, but for some economists, the EU needs to move more quickly.
“The €800 billion number that we see in the Draghi report is annually between now and 2030 – that needs to be found now, and the budget is clearly not the place to look,” said Maria Demertzis, chief economist at The Conference…
