Mario Draghi warns that the global order is dead and urges Europe to federalize
The former President of the European Central Bank, Mario Draghi, delivered a contundent message upon receiving an honoris causa doctorate. He stated that the established global order has ended. For him, the main risk is not its fall, but what will replace it and how Europe will respond. 🏛️
The decisive crossroads for Europe's future
Draghi presented a fundamental dilemma for the European Union. The bloc must choose between continuing as a large open market, but dependent on external decisions, or evolving toward a genuine political federation. Only a federal structure, stronger than the current confederation of states, can grant Europe the political, military, and economic power necessary to act as an autonomous global player.
The pillars of a future federation:- Create a unified political power that makes strategic decisions.
- Develop a common and integrated military and defense capability.
- Consolidate a strong and sovereign economic and industrial base.
"Without deeper political union, Europe will not be able to defend its values or strategic interests in an increasingly conflictive world."
Strengths and weaknesses of the community project
The economist acknowledged that in areas where countries have integrated their policies, such as the single market and the common currency, Europe has gained strength. However, he highlighted that where that integration is lacking, weakness is evident. The inability to project a unified voice and action in foreign policy and defense leaves the continent in a vulnerable position.
Concrete risks if Europe does not act:- Become subordinated to the powers and agendas of other countries.
- Fragment internally due to divisions and lack of common leadership.
- Lose its industrial and technological base, eroding its autonomy.
A call to urgent and determined action
Draghi's message is a call to act quickly and decisively. The time for debate is limited in a world where the old order no longer works. The true feat, he suggested, would be for member states to reach agreement on a federal formula that benefits all. Europe's future as a relevant power depends on this choice. ⚖️