Overview
- Speaking at KU Leuven, Draghi said Europeans must decide whether to remain a large market subject to others' priorities or take the steps to become a geopolitical power.
- He argued the post‑war rules‑based order is defunct and cautioned that the real danger lies in what replaces it.
- Draghi contended the United States now seeks dominance alongside partnership, imposes tariffs on Europe, and views EU political fragmentation as serving its interests.
- He criticized mercantilist strategies, highlighting China’s cost‑exporting growth model and the deindustrialization pressures that followed its WTO accession.
- Pointing to areas where the EU already acts as one—in trade, competition, the single market, and monetary policy—he said Europe earns respect and cited recent trade agreements with India and Latin America, while invoking the Greenland episode as evidence of newfound solidarity when Europeans resist together.