Letta and Draghi reports a ‘wake-up call,’ finance minister says

The Letta and Draghi reports serve as a “wake-up call” for the EU, Greek Economy and Finance Minister Kostis Hatzidakis said in Luxembourg on Tuesday, where he took part in the Eurogroup and ECOFIN meetings.

“Strengthening the competitiveness of the European economy is a supreme challenge. We have identified the causes of the problem and largely agree on what needs to be done. But we have to move from discussion to actions,” he said, commenting on the reports.

At the Eurogroup he focused on three points: first, that finance ministers cannot be absent from this discussion on EU competitiveness; secondly, that in order for Europe to respond to this challenge, it must have the necessary institutional and financial tools; and thirdly, that there must be a sense of urgency in the positions, but also in the actions.