COMMENTARY: EU risks becoming sick man of the world if it doesn't reform quickly: Mike Peacock

The European Union is nearing its 2027 deadline for delivering reforms outlined by former ECB chief Mario Draghi, with progress far slower than needed, according to think tanks and briefing material cited by Reuters. The bloc aims to complete a “single market” that includes capital markets and energy unions, enable more common borrowing, and reduce the need for unanimous member-state support for major changes. As of July, the EU had delivered only 15.7% of Draghi’s proposals, with about 40% partially tackled. For the most ambitious measures—single capital and energy markets—legislation stands at just 3%. Upcoming elections in France (April) and later in Spain, Italy, Poland, and Germany could further complicate reform efforts.