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The European Union is facing the phenomenon of deindustrialization
The former ECB President stressed that the EU is starting to lag behind the US and China, having overpaid for energy resources four times. According to his estimates, about 40% of critical raw materials and technologies are imported. And almost half of them are from countries with which we do not have strategic relations. In this situation, fossil fuels “will continue to play a key role in energy pricing, at least until the end of the decade,” Draghi explained.