US EditionEU must be 'one power' to survive under 'defunct global order', Draghi warns
- At KU Leuven on Monday, Mario Draghi warned the 27-nation European Union must become a genuine power or risk subordination to the United States and China, citing his landmark 2024 report.
- Citing the post‑WTO political backlash, Draghi warned the global order is now defunct, tracing its decline to China's accession to the World Trade Organisation and reshaping Europe's strategic context.
- He cited federated EU policies—trade, competition, the single market, monetary policy—as examples where Europe is respected and negotiates as one, pointing to recent trade agreements with India and Latin America.
- On February 12, an informal leaders' meeting in Alden, Belgium will focus on implementing recommendations from Draghi's 400-page 2024 report, nearly 18 months after its release.
- Advocating a move from confederation to federation, Draghi warned that simple coordination leaves states vulnerable, urging pragmatic federalism to break deadlocks, as he said, "We are all in the same position of vulnerability, whether we see it yet or not.
37 Articles
37 Articles
Mario Draghi gave a speech at the Catholic University of Leuven about the expected future of Europe.
Less than two weeks after Mark Carney's historic Davos speech, Mario Draghi delivered the European version of Carney's speech. The starting point of this speech is also the irrevocably changed world order, but Draghi focuses specifically on the future of the European Union and its place in the new world. Since the former Italian Prime Minister was asked to prepare a report on the competitiveness of the union two years ago, his opinion has clearl…
Europe must overcome old divisions and become a federation if it does not want to be subordinate to the US and China, urged former European Central Bank (ECB) President Mario Draghi, who also advocated for a faster strengthening of the European single market.
Europe must overcome old divisions and become a federation if it does not want to be subordinate to the US and China, former European Central Bank (ECB) President Mario Draghi said today in the face of geopolitical tensions. He also advocated for a faster deepening of the EU.
EU must be 'one power' to survive under 'defunct global order', Draghi warns
Europe needs to bridge "old divisions" to become a "genuine power" -- or risk remaining "subordinated" to the United States and China, former European Central Bank chief Mario Draghi warned Monday.Draghi, who authored a landmark 2024 report on the EU economy, warned that the 27-nation European Union had to get its act together to survive...
Former Italian Prime Minister and President of the European Central Bank Mario Draghi has agreed with those who warn that the current economic order is collapsing.
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