Draghi-Led Group Targets European Competitiveness

A new group aimed at strengthening Europe's economic competitiveness has been launched by former European Central Bank President Mario Draghi and other senior executives. The Rhine Group, established on August 24, plans to develop proposals addressing the continent's economic and technological challenges.

The initiative builds on Draghi's 2024 report examining how Europe can improve its competitive position. Draghi will lead the group alongside Stripe CEO Patrick Collison, while Spanish economist Luis Garicano will serve as executive director.

Technology is expected to be a key part of the discussion, with the Rhine Group highlighting Europe's relatively limited presence among the world's largest technology companies and its weakness in emerging technologies. The organization aims to turn these concerns into policy proposals, adding another voice to the European debate over how to translate the competitiveness agenda into action.

French and German participants constitute the largest national contingents, with members also drawn from Italy, Britain, Spain, and other European countries. Among those joining are former French Finance Minister Bruno Le Maire and former Estonian President Toomas Hendrik Ilves, according to EUROMETAL.