Former Italian PM Mario Draghi calls for 'pragmatic federalism' in EU

Former Italian Prime Minister and former chairman of the European Central Bank, Mario Draghi, stated that the European Union (EU) requires "pragmatic federalism" to effectively address modern challenges. He made these remarks during a speech in Oviedo, Spain, where he received the Princess of Asturias Award for International Cooperation.

Draghi emphasized that "almost all the principles on which the Union was founded are under strain," citing the rise of protectionism and unilateral actions as significant threats to the EU"s foundational values of openness and multilateralism. He noted the "return of hard military power" and argued that the current EU structure is ill-equipped to tackle these issues.

According to Draghi, the governance of the EU has remained unchanged for many years, which he believes hampers the bloc"s ability to meet contemporary demands. He called for urgent reforms and changes to EU treaties to address the economic, social, and security challenges facing the region.

Draghi proposed that a new form of federalism should be established, one that is "built through coalitions of willing people around shared strategic interests." He explained that this approach would allow for diverse strengths among EU member states without requiring all countries to progress at the same pace. He suggested that nations wishing to join could do so, while those obstructing progress would no longer impede others.

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