Europe must decide whether it wants to remain just a large common market, or to become a global power, and for this purpose a transition from a confederal to a federal model is necessary. This was stated by former Italian Prime Minister and former President of the European Central Bank (ECB) Mario Draghi when he was awarded the honorary title “Doctor Honoris Causa“ by the University of Leuven, Belgium, quoted by APA, BTA reported.
According to Draghi, among all the players on the global stage, which are now between the US and China, only Europeans have the potential to become an independent and significant power. He emphasized that in the areas in which Europe is already federally organized – such as trade, competition, the internal market and monetary policy - the European Union is perceived internationally as a united and respected partner.
Dragi recalled that in 2024 he presented a report commissioned by the President of the European Commission Ursula von der Leyen, which pointed out the need for the European Union to become significantly more innovative in order to remain competitive against the US and China.
Warning about deindustrialization
The former Italian Prime Minister also warned of the risks arising from the collapse of the current world order. According to him, it did not collapse because of false illusions, but the main danger lies in what will replace it. An environment with less international trade and weaker rules would be difficult but surmountable, Draghi said.
The more serious risk, he said, was that Europe would end up being both dependent, divided and deindustrialized. He stressed that a Europe that is unable to defend its own interests will not be able to preserve its values in the long term.
Importance of joint action
Dragi stressed that joint action at the European level could create a new sense of self-confidence and solidarity and lay the foundations for the continent's future development. As an example, he cited the way the EU has responded to strategic challenges, including the situation around Greenland.
He said the decision to stand by a common position rather than give in required clear strategic analysis and coordinated action, which led to a level of solidarity and public support that seemed difficult to achieve in the past.