A former ECB chief says the lack of access to cheap energy from Russia has undermined the bloc’s competitive advantage The global economic competitiveness of the European Union has been substantially eroded due to the loss of cheap energy from Russia, former European Central Bank president Mario Draghi said on Monday. A wide-ranging report presented by Draghi indicated that reducing energy prices, raising competitiveness, and strengthening defense investment are among the top priorities for the bloc’s policymakers. According to the politician, who served as Italy’s prime minister in 2021-2022, member states have b
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