Mario Draghi urges policy reform, investment drive to revive lagging EU

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Mario Draghi urges policy reform, investment drive to revive lagging EU - Business Standard

Quick Summary:

EU countries had already responded to the new realities, Draghi's report said, but it added that their effectiveness was limited by a lack of coordination.

It suggested so-called qualified majority voting - where an absolute majority of member states need not be in favour - should be extended to more areas, and as a last resort that like-minded nations be allowed to go it alone on some projects.

Draghi's report comes as doubts emerge over the economic model of Germany, once the EU's motor after Volkswagen weighs its first ever plant closures there.