Former ECB Chief Says ‘Illusion’ of EU as a Global Power Dashed

Mario Draghi said on Friday the events of 2025 have exposed a harsh truth: The European Union can no longer believe its big economy brings it global power and influence.

“This year will be remembered as the year in which this illusion evaporated,” the former president of the European Central Bank and prime minister of Italy said in a speech at the beach town of Rimini.