Two years ago this month, former European Central Bank president Mario Draghi warned that the continent faced a “slow agony” of decline without radical reforms aimed at boosting investment and innovation, reducing regulations and increasing its energy security.
What happened next was typical of the bloated bureaucratic behemoth that the European Union has become. Much talk and a few symbolic gestures followed Mr. Draghi’s report. But it was soon back to business as usual in Brussels.
