Mario Draghi’s new investment plan for Europe, aimed at stopping the European Union‘s march towards economic decline, came six years too late and in a technocratically outdated form.

In 2019, DiEM25 ran in the European elections with a €500 billion per year green investment programme and also a plan for how it would be financed through EIB-ECB bonds. Had it been adopted, Europe would not have become the failed continent it is today.

At the time, of course, the DiEM25 plan was rejected as ‘fiscally irresponsible’ and ‘politically unfeasible’. Then came the pandemic that inspired the sad, toxic, macroeconomically insignificant and microeconomically ineffective ‘Recovery Fund’ – the gravestone of hope at least for stabilising the European economy.

Now, Draghi is proposing a much more expensive and less well thought out version of the 2019 DiEM25 plan (with €800 billion per year and without the EIB-ECB bonds that could finance it without a New Treaty or new national debts).

Like the Bourbons, the modern EU barons forget nothing and learn nothing.

And so Europe will continue to sink deeper and deeper into its economic, technological, political and moral sinkhole.

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