Europe has finally realised that it needs to catch up on innovation and production with the United States and Asia. But the key will be execution, not words. Europe just drew its line in the sand. Commission President Ursula von der Leyen says Europe has all the ingredients for success: talent, capital, and a single market unlike any other. Yet the race is on. For two decades, Europe has seen a widening gap in innovation and productivity compared with major rivals.
The Commission believes it must act fast, especially in the face of rising energy costs, shifting supply chains, and a climate imperative that grows more urgent every day. The Competitiveness Compass lays out a path to keep Europe in the game and perhaps even drive it.
It banks on three core ideas: close the innovation gap, pursue decarbonisation without sinking industry, and reduce crippling dependencies that leave the EU exposed. But we must fix our weaknesses to regain competitiveness. The Competitiveness Compass transforms the excellent recommendations of the Draghi report into a roadmap.
We have the political will. What matters is speed and unity. She makes it sound almost straightforward—align 27 member states, overhaul entrenched practices, and take on global economic heavyweights.
The key will be execution, not words. The first plank is all about innovation. The goal is to build a habitat where creative thinking thrives and scaling across borders becomes second nature.
