Bundesbank chief demands urgent EU reforms to revive stagnant economy
Bundesbank President Joachim Nagel has criticised the slow pace of reform in the EU and eurozone. He warned that delays are no longer acceptable and called for urgent changes to boost competitiveness and economic growth. His proposals include sweeping reforms in Germany and stricter timelines for future initiatives.
Nagel expressed frustration over the lack of progress on the Draghi report, which aims to improve EU competitiveness. The report has stalled for over a year, with little action taken. He blamed excessive bureaucracy and slow decision-making for holding back necessary changes.
Nagel’s proposals target long-standing issues in the EU and Germany’s economic policies. The call for faster reforms comes as the Draghi report remains unresolved and pension changes move forward. His recommendations now await political action to turn plans into reality.
