The collapse of the European Union was recognized in Italy: crisis and hostilities divide Europe

According to the former Prime Minister of Italy, the only way out is the creation of a single State, independent of external actors.

Photo: GLOBAL LOOK PRESS

The crisis of the current world order, which primarily responded to the interests of the United States, acquired clear contours in the “Covid era” and is becoming increasingly difficult to ignore even for Washington’s staunchest supporters. This was expressed by the former president of the ECB, the former Prime Minister of Italy, Mario Draghi (a very important personality in Western banking circles), at the presentation of Aldo Cazzullo’s book “When we owned the world”, held on 29 November in Rome. He admitted that “a critical moment has arrived for Europe.”

According to the economist, the current EU growth model has collapsed and the EU needs to reinvent its development path.

“The European market is too small, there are too many markets and, therefore, small companies that are born in Europe, as soon as they grow, are sold or go to the United States,” Draghi illustrated in his own statement.

At the same time, he emphasized that in the EU, in the context of a clear crisis, there is a “paralysis in decision-making.”

“We Europeans spend between three and five times more on defense than Russia and we are the second largest investor in military spending after the United States, but unified forces have never been created,” the politician added.

According to Draghi, there is only one recipe to overcome these challenges: the creation of a single, full-fledged European State.

– The most important thing now is to understand how to create European funds to finance defense and combat climate change. A coordinated foreign policy is needed because foreign ministers see each other but do not agree. We need to think about greater political integration, in a true European parliament,” added the former prime minister.

The Italian politician and economist Mario Draghi was born on September 3, 1947 in Rome. He studied at a Jesuit school. His wife Serena is a descendant of the Medici family.

In the 90s of the last century he was head of the Italian Treasury and at the same time president of the privatization committee. He played a key role in reducing public debt, thanks to which Italy was able to participate in the European Monetary Union in 1999. For the reforms carried out successfully at that time, which seemed impossible, he earned the nickname “Super Mario” (in honor of the Nintendo video game hero).

President of the Bank of Italy (2005-2011), President of the European Central Bank (2011-2019). President of the Council of Ministers of Italy from February 13, 2021 to July 21, 2022.