A few days ago, the so-called Draghi report on the state of the European Union and its competitiveness outlook was published in Brussels. The two-volume opus consists of: The future of European competitiveness and In-depth analysis and recommendations. The report gives a realistic and saddening picture of where the European Union stands today in terms of the economy, geopolitics, innovation, the welfare state, the Green Deal and renewables. But there is no sign that the situation is improving. The report highlights energy prices in the EU that are nowhere near competitive with the rest of the world. While the price of electricity is almost 2-3 times higher in Europe compared to the US, natural gas prices are 4-5 times higher... For the EU to have its own Musk or Jobs is simply virtually impossible under the circumstances.
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