Former European Central Bank President Mario Draghi issued a blunt warning to Europe on Thursday in Aachen, Germany. “For the first time in living memory, we are truly alone together,” he said while receiving the International Charlemagne Prize for his contributions to European unity. Draghi reinforced his call for Europe to urgently get its house in order to confront a changed geopolitical landscape in which the United States has grown “more adversarial and unpredictable” and “may no longer guarantee our security.” His warning comes as Europe grapples with sluggish growth and a growing productivity gap relative to the United States. Those challenges have been intensified by the return of Donald Trump to the White House, as Washington adopts a more confrontational stance on trade and security. Draghi, a former Italian prime minister, has re-emerged in the EU’s political arena after releasing a 2024 blueprint aimed at reversing the bloc’s economic slide — a plan whose estimated annual cost has since climbed to €1.2 trillion to implement its recommendations. “Every strategic dependence must now be re-examined,” he told the audience, which included German Chancellor Friedrich Merz, his successor as ECB president Christine Lagarde, and Greek Prime Minister Kyriakos Mitsotakis. He cautioned that “if openness remains our only answer, it becomes the absence of a decision.” Draghi highlighted artificial intelligence and defense as two vital sectors where Europe must urgently increase investment on a large scale. He also emphasized that energy infrastructure is crucial for both the continent’s competitiveness and its security. In addition, he criticized the EU’s sluggish progress, noting that its decision-making processes frequently “dilute and delay” measures until they fall short of what is actually required. “Weak delivery erodes legitimacy, and weak legitimacy makes delivery harder still.” „We have to end this cycle,“ he continued.
Artificial Intelligence – POLITICO