The King at the Charles V Prize to Mario Draghi: “Europe is putting its future at risk” | Spain

Twelve years have passed since the famous whatever it takes (“Whatever it takes”) by Mario Draghi. A phrase that the former president of the European Central Bank (ECB) used to describe the unprecedented expansionary monetary policies he implemented – known as quantitative easing– as an effort to save the euro and pull Europe out of the Great Recession that began in 2008. And Felipe VI has awarded the…

Twelve years have passed since the famous whatever it takes (“Whatever it takes”) by Mario Draghi. A phrase that the former president of the European Central Bank (ECB) used to describe the unprecedented expansionary monetary policies he implemented – known as quantitative easing– in an attempt to save the euro and pull Europe out of the Great Recession that began in 2008. And Felipe VI has awarded the Italian the European Charles V Prize for this “(Draghi) is a weaver of consensus. A European and a supporter of Europe,” the king said this Friday from the monastery of San Jerónimo de Yuste (Cáceres).

The award, which is usually awarded on May 9, on the occasion of Europe Day, has been delayed this year due to the European elections, which took place last weekend. After results in which the extreme right has been strengthened in the Union’s key countries – such as founding France, Germany, Italy -, the King wanted to send a clear message: “Europe is putting its future at risk, and if the future is our greatest challenge, the present is our main task, in which there is no room for inaction or paralysis, nor for thoughtless reform.” And Draghi has been at the forefront of European politics for more than a decade – through the ECB, the Chigi Palace (he was Prime Minister of Italy (2021-2022), or as the author of an economic report that Brussels awaits like May rain, among others -.

Draghi “was able to face, with enormous courage, one of the biggest crises the Union has ever experienced, implementing, in the midst of a recession, a series of forceful and unprecedented measures to preserve the strength of the euro and the autonomy of the ECB,” the King said in the 17th edition of these awards, recognizing it as central to the nature of Extremadura, where in 1558 Emperor Charles V spent his last days.

And it is about the autonomy and sovereignty of the Member States – especially in the economic and industrial sphere – that will be the focus of the expected report that Italian economists will make public at the end of the month. A study that the President of the Commission, Ursula von der Leyen, launched months ago with the intention of setting guidelines so that the Community Club does not lose competitiveness in the face of the United States and China. “Europe must regain competitiveness, seek a leading place on the international geopolitical and geoeconomic board,” affirmed the King, who was greeted on his arrival together with the laureate, Mario Draghi, and the President of the Government of Extremadura, María Guardiola. Dozens of children chanting “Felipe, Felipe!”

Days after the publication of his report, Draghi was sharing this Friday his thoughts on how to tackle the economic, demographic, energy, industrial and social challenges that Europe will face in the coming years. “We will need to grow faster and better,” the Italian said. Artificial intelligence is the factor that keeps Europe behind the United States, he added. “We need a series of measures to close that gap,” Draghi said in a speech full of technical details.

“Compared to the United States, not having a European budget disadvantages us,” said Draghi, according to Community sources, who will advocate for a more federal Europe in his report. But more public spending “will not be enough,” he added, noting the need to boost the green and digital economy through mobilizing private funds on an “unprecedented” scale. Despite the expectation surrounding the publication of its working document, it remains to be seen with what mood and attitude the various member states take it, immersed in national policies and the daily life of other countries, such as France, in the economy of the Union―which is in a vigorous electoral campaign after Le Pen’s landslide victory in the European elections.

What impacts the most is what happens closest. So that you don’t miss anything, subscribe.

Subscribe

In a speech full of messages demanding European values ​​― listed among them “human dignity, freedom, democracy, equality, the rule of law, respect for human rights, pluralism, non-discrimination, tolerance, justice, solidarity and equality between men and women” ―, the King has already predicted that the next European legislature, which will begin next autumn, will face “very big challenges” and warned about a “correction of strategies” within the community club. In fact, the winner, although he affirms that Europe should not be protectionist, has advised that Europe reduce its dependence on countries that can no longer be trusted. “We cannot remain passive if the actions of other (countries) threaten our prosperity.”

For almost 30 years, the European and Ibero-American Academy of the Yuste Foundation, chaired by King Felipe VI, has rewarded the work of people, organisations and projects or initiatives that contribute to the cultural, social and scientific values ​​of Europe, as well as to the project of integration of the Union.

The jury – which included active politicians such as the President of the Junta de Extremadura, María Guardiola (PP), and the Minister of Foreign Affairs, José Manuel Albarez; or former presidents such as José María Aznar and Felipe González, as well as professors and the President of the European Parliament, Roberta Metsola – considered that this year’s winner “has made it possible to face one of the biggest crises ever experienced by the Union and build a new world.”

This Friday is the 17th edition in which 28 candidates from six countries (Andorra, Belgium, Spain, France, Italy and Romania) applied, although according to the Foundation only 16 nominees remain. In previous editions, the Foundation has honored European personalities such as Angela Merkel or Antonio Guterres.