Former Italian prime minister Draghi sees leadership vacuum in Europe

The former head of both the European Central Bank and the Italian government lamented on Monday over the "leadership vacuum" stemming from weakened leadership in France and Germany.

"The Franco-German leadership is weakened," Mario Draghi said at an awards ceremony in Milan. "But I see no other leadership capable of leading Europe into a common future. There is a leadership vacuum, but we must be patient and await the results of the elections in Germany."

Draghi was referring to the dissolution of the centre-left coalition in Berlin, which is expected to lead to new elections in February and the ouster of French government leader Michel Barnier. French President Emmanuel Macron has vowed to quickly name a new prime minister.

Draghi was the head of the European Central Bank from 2011 to 2019. Later, he led the government in his homeland in 2021/22. A few weeks ago, he published a report on the future of the European Union on behalf of the then European Commission. In his speech, he spoke of "difficult moments" for Europe. At the same time, Draghi called for optimism in order to achieve something.

"Because if you are pessimistic, you stay at home."