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“Obsolete rules for common shocks”: Draghi’s sticks from the EU

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“Obsolete rules for common shocks”: Draghi’s sticks from the EU

Italian premier Mario Draghi at the 57th Annual Award Dinner of the Appeal of Conscience Foundation

The former Italian prime minister and former ECB president, Mario Draghi, was a guest at the Martin Feldstein Lecture of the NBER (National Bureau of Economic Research)

Europe must equip itself with new rules that allow it to deal with common shocks rather than, as happened in the past, individual crises. This was stated by the former Italian prime minister and former president of the ECB, Mario Draghiospite alla Martin Feldstein Lecture del Nber (National Bureau of economic research).

Compared to the past, he highlighted, “the nature of the shocks we are facing is changing. With the pandemic, the energy crisis and the war in Ukraine, we are increasingly faced with common and imported shocks rather than asymmetric shocks, created internally This shifts the problem from supporting struggling states to addressing shared challenges, thus creating a different alignment of political preferences.”

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