EU leaders endorse 'New Competitiveness Deal' but skirt around joint debt

EU leaders have embraced Mario Draghi's economic diagnosis as a "wake-up call" but eluded his crucial advise to issue fresh joint debt.

Transcript

00:00In this Pushkas Arena in Budapest, the informal summit of the leaders of the European Union is closed

00:05at a time when the economic competitiveness of the 27 is more in question than ever

00:10for the electoral victory of Donald Trump in the United States.

00:14The European Union has been trying for a long time not to fall behind the rest of its competitors,

00:18but the emergence right now of the cycle change in the United States has not made that there have been more than a few advances,

00:23such as an agreement of competitiveness based on a report written by the former president of the European Central Bank,

00:29Mario Draghi.

00:30Of course, some of the most important points have been left in the inkwell,

00:34such as how to finance this imposing technological and industrial change.

00:39One of the ideas, the issuance of common debt, does not convince several member states.

00:43Aida Sánchez Alonso, Euronews, Budapest.