In his laudatory speech for the Italian politician Mario Draghi at the award ceremony for the International Charlemagne Prize in Aachen, Federal Chancellor Friedrich Merz portrayed a Europe that is emerging from a phase of “false optimism” and has to reassert itself in a world that is reorganising itself.

Draghi as a guide for Europe’s future

Merz took up Draghi’s warning: “A Europe that cannot defend its interests will not be able to preserve its values in the long term.” In his laudatory speech, the Federal Chancellor described Mario Draghi as a decisive figure in saving the euro and an intellectual guide for Europe’s future. 

He praised his courage in the euro crisis: “You took care of the euro at a threatening time, and you stabilised the euro and the currency zone.” This has paid off, Merz said, adding that Draghi’s analyses are “relentless”, his recommendations “very specific” and his answers “clear and ambitious”. The Federal Chancellor agreed with the nickname “Super Mario” for Draghi, who was honoured with this year’s Charlemagne Prize.

The most important points in brief:

• Europe’s geopolitical awakening: In his laudatory speech, Chancellor Merz described a Europe that must assert itself in a shifting world and formulate its interests more clearly. Europe has “woken up”, said the Chancellor, and is beginning to combine economic strength, security policy capabilities and geopolitical clarity. The Federal Chancellor took up Draghi’s warning of the need for a well-fortified and sovereign Europe. According to the Chancellor, this meant that there was a duty to reduce dependencies, utilise power and resolutely support Ukraine.
• Reform of the EU budget:‑ In his speech, Friedrich Merz also criticised the EU budget as outdated and too strongly geared towards redistribution.‑ The Chancellor emphasised that “more than two thirds of European funds flow into redistribution and subsidies”. However, the challenges of the present require a modern, investment-oriented budget – a “Draghi-approved budget”, emphasised the Chancellor. The Federal Chancellor clearly rejected new European debt: “Germany cannot go down this path for constitutional reasons alone.” According to Chancellor Merz, excessive debt threatens sovereignty, with some countries already spending “more on interest than on defence”.
• Strengthening the internal market: Federal Chancellor Merz said that the European single market must once again become an engine for growth and innovation. Much of its potential is shackled by bureaucracy, slow procedures and a lack of dynamism, he said. Draghi’s analysis is clear: although Europe has a strong economic structure, it is “not dynamic enough” and research findings there “are not translated into business models “at sufficient scale or speed”. Federal Chancellor Merz referred to the latest EU decisions as a good step – for example on the recognition of professional qualifications, on labour mobility and on the reduction of administrative burdens. According to the Federal Chancellor, these decisions reflect Draghi’s recommendations.

Read the transcript of the Federal Chancellor’s speech here: