Europe Urges Cheap Electricity to Boost Productivity, Draghi Highlights Broader Challenges

Europe faces a shrinking workforce while still debating how long to keep fossil‑fuel‑powered machines. In a recent assessment, former European Central Bank chief Mario Draghi outlined a broader competitiveness diagnosis: weak productivity, fragmented markets, and difficulty translating research into industry. Draghi argues that lowering electricity costs is a key lever for improving productivity and supporting a cleaner energy transition. The strategy calls for coordinated policy to reduce energy prices, streamline market fragmentation, and accelerate technology commercialization, aiming to strengthen the continent’s economic resilience amid labor shortages and high energy costs.