How much can Donald Trump’s duties and pressures affect the economy? THE Mario Draghiwho persistently calls for the overthrow of the economic policy implemented by the EU, in an article in the Financial Times, intervenes for one one time, stressing that US duties and pressures are not the big problem, as Europe, with Its policies have imposed its own duties and very high.

Mario Draghi highlights the two important factors that “block” the competitiveness of the European economy:

1) “The EU’s long -term inability to deal with limitations in supply, especially high internal barriers and regulatory barriers”

2) “Its tolerance in persistently weak demand”.

“The IMF estimates that Europe’s internal obstacles are equivalent to 45% duties for manufacturing and 110% for services,” Mario Draghi stresses in his FT article, adding that in innovation entrepreneurship, namely new technologies, they have Countless regulatory rules imposed, causing essential obstacles to companies. “The cost of compliance with GDPR, for example, is estimated to have reduced profits for small European technology companies by up to 12%”supports characteristics.

Concerning the second factor, Mr Draghi stresses that “this has exacerbated all the issues caused by the restrictions of the offer”. And adds: ‘Until the crisis, domestic demand as a percentage of GDP In the eurozone it was close to the middle of the range of advanced economies. Then, he fell to the bottom and stayed there. “

“Both of these shortcomings – the offering and demand – are largely derived from the Europe. It is therefore within its capabilities to change, with a “firm effort to remove offering restrictions” and “redirecting demand back to the domestic market,” says Mr. Dragi, who calls for “a more insightful use of fiscal. Policy, in the form of higher productive investment “but, as he points out,” this path requires a fundamental change of mentality. So far, Europe has focused either on individuals or national goals without calculating their collective costs. “

Concluding his position, he stresses that “internal obstacles are a legacy of times when the nation state was the natural framework of action. But it is now clear that the action in this way has offered neither prosperity for Europeans, nor healthy public economics, nor even national autonomy, which is threatened by pressure from abroad. That is why a radical change is needed. “