Editorial: Le Monde

• There's an Italian offensive underway to safeguard Europe. Enrico Letta and Mario Draghi, two former Italian prime ministers, made bold proposals to enable the EU to resist economic lag against US and Chinese powers.
• Mario Draghi advocates for a radical change, a redefinition of the EU that matches the ambitious vision of its founders. He believes that the EU as it was conceived, is not equipped to face powers like US and China.
• Enrico Letta argues that the single European market, designed at a time when the big European nations were the world powers, has got stuck in the 20th century. He proposes that if Europe continues in its current configuration, it will continue to fall behind China and the USA.
• Letta has proposed several ideas to create European giants in telecommunications, energy and finance sectors. He argues that an integrated capital market would be an indispensable tool.
• During the European summit, German Chancellor Olaf Scholz and French President Emmanuel Macron fought to give an impetus to the capital markets union and proposed launching a European savings product.

Conclusion: In conclusion, both Draghi and Letta are advocating for fundamental changes in the structure and the approach of the EU to maintain its competitiveness on a global stage. This includes redefining the internal markets and adopting integrated capital markets. However, these suggestions face considerable resistance.

---