More Europe? Draghi Pushes For Federalization As Answer To Europe's Decline

Mario Draghi, former Italian PM and ECB president, advocates for a more federal Europe. He warns Europe faces economic and geopolitical decline without greater power transfer to Brussels. Draghi believes Europe risks being subordinated, divided, and deindustrialized amidst shifting global power dynamics. He argues Europe must choose between dependence and becoming a true political power. Draghi suggests that only by centralizing powers can Europe assert its influence on the global stage. He points to trade, competition, and monetary policy as examples of successful EU federation. Draghi criticizes fragmentation in defense, foreign policy, and industrial strategy as vulnerabilities. He believes Europe's commercial power is leveraged against its security dependence. Draghi criticizes both the United States and China, suggesting pressures from both sides. His call for federalization is likely to spark debate among Eurosceptics concerned about over-centralization.