The President of the European Commission hosted an event to mark the one-year anniversary of the report on European competitiveness drafted by former Italian Prime Minister and European Central Bank President Mario Draghi last September. The message coming out of that meeting both from the European Commission President and from Draghi was that European policymakers need to do their homework. Too many items from the Draghi agenda remain unimplemented or only partly addressed. Too much more needs to be accomplished. And time is of the essence. The world is only becoming more volatile, more uncertain, and more dangerous. Europeans cannot afford to wait in preparing for this changed geopolitical environment, otherwise they will suffer the consequences. ‘Europe’ may even fail as a political project.