Jan 27 2025 42 mins 7
With public coffers depleted and an ageing population putting pressure on social safety nets, how can Europe mobilise the financial resources necessary to meet its triple goals of a decarbonised economy, effective defence and technological competitiveness? FRANCE 24's Charles Pellegrin puts the question to his panel of guests at the World Economic Forum in Davos.
The EU's objectives are threefold:
- Completing the transition to a fully decarbonised economy in the face of global warming;
- Guaranteeing self-reliance in security in the face of Russian expansionism and US isolationism;
- Boosting European competitiveness in the tech sector to be able to fully rival the United States and China.
The cost of these goals was outlined in Mario Draghi's competitiveness report in September 2024: a whopping €800 billion. Achieving them would be no mean feat.
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But public coffers are depleted and demographic decline is adding pressure on social safety nets. Capital and banking markets are shallow and fragmented. Yet on the other hand, private savings are at high levels.
So what can Europe do? Our panelists give us their take.
