Europe’s five stages of grief

Mario Draghi’s new report on European competitiveness opens with a striking statement: Europe missed the boat on the digital revolution.

It felt like an admission we hadn’t heard so clearly from the EU before. Almost like a stage of grief.

First comes denial—Europe holding onto the belief that its industrial might was enough. Then anger—why did the digital revolution happen elsewhere? Why did the US surge ahead while we stood still?

After that, bargaining—if only we had invested more in tech, maybe things would have been different. We’ve seen plenty of that over the years.

Now we’re in depression, acknowledging that the world has moved on, and we’re behind.

But Draghi’s report feels like a step toward acceptance. And with acceptance comes the potential for action. A clear-eyed look at the reality, with the hope that Europe is ready to chart a new path forward.

Maybe this time, we won’t miss the boat.