Gilles Moec (AXA Group Chief Economist) | In Rimini in August 2020, Mario Draghi gave a speech which in retrospect could well define his action. Draghi called for a reform of the European economic framework. This will be crucial for Italy, and hence for the fate of the whole monetary union. A structural reform platform primed by public spending will need time to prove itself to the markets. The fiscal surveillance system needs to evolve. As President of the ECB, Draghi did wonders thanks to Angela Merkel’s silent support (her refusal to criticize him for his unorthodox monetary policy). As, potentially, head of government of the Euro area’s third largest economy, he will have to get explicit support for a new framework.

After seven years of negotiations, the EU and China announced the trade agreement that will seek to boost new and lucrative opportunities for companies on both sides. The deal is the most ambitious China has ever  reached with a third economic bloc in terms of market access, fair competition, and sustainable development, said  EU Trade Commissioner Valdis Dombrovskis.