Reforming Europe’s economy is all the more urgent following Donald Trump’s US election win, warned the author of a blockbuster report, Mario Draghi, ahead of talks with EU leaders in Budapest on tackling the challenge, AFP reports.

Ex-European Central Bank head Draghi was tasked with preparing the economic report that EU chief Ursula von der Leyen will use to steer her next five years in office.

Published in September, the sweeping document raised the alarm over Europe’s failure to keep up with the United States, pointing to the EU’s low productivity and economic slowdown.

“The recommendations in this report are already urgent, given the economic situation we are in today. They have become even more urgent after the US elections,” Draghi said.

“There is no doubt that the Trump presidency will make a big difference in the relations between the United States and Europe. Not necessarily all in a negative sense, but certainly we must take note,” Draghi said.

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