Mario Draghi sounds a warning to the EU: “Europe must act as one state to face global challenges, it is at risk without a common plan”

The former president of the European Central Bank, Mario Draghi, issued a stern warning during his speech at the European Parliamentary Week in Brussels. "If recent US statements are any indication of our future, we can expect to be left largely alone to ensure security in Ukraine and Europe itself.“, Draghi said, underlining the need for a coordinated European response to geopolitical and economic challenges.

A more united Europe for security and growth

Draghi stressed the urgency for the European Union to operate as a single political and economic entity to respond to the current crises. "The complexity of the political response will require an unprecedented level of coordination between national governments, the Commission and the European Parliament.“, he said, adding that speed, scale and intensity will be essential to address economic stagnation and security threats.

Tariffs and the US and Chinese economic threat

Another critical point raised by Draghi concerns the impending US protectionist measures. "In the coming months, the EU will have to deal with tariffs imposed by the new US administration, which will hinder our access to the main export market.“, he warned. In addition, the increase in US tariffs on China risks diverting Chinese production overcapacity to Europe, further damaging the continent's companies.

Artificial Intelligence and the Risk of Being Left Behind

Draghi then addressed the issue oftechnological innovation, highlighting the dangers of an excessive slowness in the digital transition. "Every day of delay accumulated in artificial intelligence makes it more difficult to recover the gap with global powers“, he stressed, highlighting that the costs of training AI models have dropped dramatically, but theEurope is still behind the United States and China.

Energy and industrial reforms for a more competitive EU

In his speech, Draghi also spoke about the need for a reform of the energy market to ensure more competitive prices and encourage the development of advanced technologies. "We need to reduce the cost of energy to prevent our industries from falling behind international competition.“, he said, proposing solutions such as investments in infrastructure, centralized purchases of natural gas and greater transparency in energy trading.

In parallel, urged Europe to break down internal market barriers by standardising and harmonising national regulations to facilitate business growth. "The EU has the potential to operate on a large scale, but internal barriers amount to a hidden tariff that hinders competitiveness“, Draghi said, underlining how excessively precautionary regulations have often penalized innovation.

European Defence: An Urgent Need for Cooperation

Another crucial topic touched upon by Draghi concerns the sEuropean security and defence. "Even though the EU is collectively the third largest spender in military spending, our production capacity would not be sufficient in the event of increased defense needs.“, he said, stressing the need for a more integrated and interoperable defense system.

“You can't say no to everything, you have to act”

In closing, Draghi launched a direct appeal to the European institutions: "We cannot simply say no to everything. If we want to maintain the fundamental values ​​of the EU, we must act now and with determination.“. He has therefore reiterated the importance of decisive action to ensure Europe's security, innovation and competitiveness in a global context that risks becoming increasingly unstable.