Former President of the European Central Bank: The European economy is facing more severe challenges.

Former President of the European Central Bank, Draghi, spoke at a meeting of the European Commission on the 16th, stating that the European economy is facing more severe challenges. In September last year, Draghi, at the request of the President of the European Commission, von der Leyen, submitted a strategic report on the future competitiveness of Europe, pointing out that the EU must significantly enhance its innovation capacity and overall competitiveness. On the 16th, von der Leyen and Draghi co-chaired a meeting to review the progress of the European Commission in implementing the recommendations of the report. Draghi said at the meeting that a year has passed, Europe is in a more difficult situation, with pressure on the growth model, increased fragility, and no clear path to raising the necessary investment funds. He pointed out that energy prices are still too high, European companies are underinvesting in the application of artificial intelligence, and chip production is lagging behind other regions.