DRAGHI WARNS GLOBAL ECONOMIC ORDER IS “DEAD,” URGES EUROPE TO ACT FAST
Mario Draghi, widely remembered for his famous “whatever it takes” pledge that helped save the eurozone during the global financial crisis, has once again stirred debate in Europe with a strong and timely message. Over the years, Draghi has been one of the loudest voices calling for deeper European integration and major reforms in how the European Union functions. His 2024 report, often referred to as the Draghi Report , laid out ideas on how Europe could become more competitive globally. While the European Commission has taken some inspiration from it, Draghi believes progress has been far too slow. Speaking earlier this week at KU Leuven University in Belgium, the former Italian prime minister addressed Europe’s current position in the world and delivered a blunt warning. He agreed with growing concerns that the existing global economic order is falling apart, going as far as to describe it as “defunct” and “dead.” However, he stressed that the real danger is not the collapse itself,...