Mario Draghi’s recent report was entitled The Future of European Competitiveness. In this discussion, however, Michael Hudson, Dimitri Lascaris and I show how, in fact, the report charts the way to continuing European de-industrialization, the inevitable result of its current Atlanticism. We discuss further how the report’s recommendations, if implemented, will increase the powers of the European Commission and other unelected neoliberal financialising institutions that are leading Europe to commit economic suicide. Finally, we show how, rather than a strategy to overcome the loss of its most important sources of energy, Russia, Drahi is simply providing the verbiage with which European leaders will try to persuade Europeans to accept an abject fate.
The United States sanctioned Europe, not Russia: A Conversation with Michael Hudson & Radhika Desai
