Honestly I don’t know. .Iirc Draghi’s reputation in Italy is somewhat divided though his bio and international reputation is very impressive. Personally I agreed with many points of his analyses in his 2024 report, though I remain a bit critical of his proposed solutions. There was recently another report, also interesting, but i can’t remember the name.

Of late,modern monetary theories have shed light on a different approach to the famous 2% EU spending rule. The situation and crises in Europe is a challenge, and something must change and should be done.

This whole topic though a bit abstract for general public is quite relevant to the EU. According to this Press release by the Council of the EU,19 November 2024, Capital markets union: Council adopts revamped rules for EU clearing services.

" Derivatives play an important role in the economy, but they also bring certain risks. This was demonstrated during the 2008 financial crisis, that brought to light the weaknesses in the OTC derivatives markets.

To address the situation, the EU adopted the European market infrastructure regulation (EMIR) in 2012. The aim was to increase transparency in the OTC derivatives markets, mitigate credit risk and reduce operational risk.

On 7 December 2022, the Commission presented a proposal to review European market infrastructure regulation and directive in order to deepen the EU’s capital markets union, improve the existing rules and make the EU’s clearing landscape more attractive.

Adoption by the Council follows an agreement reached with the European Parliament at first reading under the ordinary legislative procedure.