"Europe faces a choice between exit, paralysis or integration"

Mr Draghi, author of a report on European competitiveness requested by the European Commission president, said the EU must focus on three key issues: bridging the innovation gap with the US and China; developing a joint plan to link the decarbonisation objective with increased competitiveness; and strengthening Europe's security and reducing its dependence on foreign economic powers.

Maintaining the European way of life will depend on improving competitiveness, and improving competitiveness requires closer cooperation and integration between European nations, Draghi said. (More on europarl.europa.eu)