Former Italian prime minister and former European Central Bank president Mario Draghi has warned that the global order which shaped international relations since the end of the Second World War has effectively collapsed, arguing that Europe must urgently deepen its integration and strengthen its strategic autonomy to avoid being marginalised in a rapidly changing world.
Draghi made the remarks on 2 February 2026 during a public lecture in Leuven, Belgium, where he addressed policymakers, academics and business leaders on the growing strains in the international system. According to him, the framework of rules, alliances and economic cooperation that emerged after 1945 is no longer capable of guaranteeing stability, as global power has shifted and competition between major actors has intensified.
Drawing on his experience as Italy’s prime minister between February 2021 and October 2022, and earlier as president of the European Central Bank from 2011 to 2019, Draghi said the rivalry between the United States and China now dominates global politics and economics. He noted that Washington, once the principal architect and guardian of the liberal international order, is increasingly focused on advancing its own strategic and industrial interests, sometimes at the expense of long-standing partners. At the same time, Beijing has expanded its influence by consolidating control over key supply chains, critical raw materials and advanced manufacturing sectors, giving China significant leverage in global trade and technology.
Draghi argued that Europe is caught in the middle of this competition. Despite being one of the world’s largest economic blocs, the European Union risks losing relevance if it remains fragmented and slow to act collectively. He warned that without stronger coordination in industrial policy, defence, energy and foreign affairs, European countries could face long-term deindustrialisation and political marginalisation.
Central to Draghi’s message was a renewed call for deeper European integration. He said the EU must move beyond ad hoc coordination and embrace a more unified approach to decision-making in areas that directly affect its security and economic future. Strategic autonomy, in his view, does not mean disengaging from allies, but rather ensuring that Europe has the capacity to act independently when necessary, particularly in defence, technology and energy security.
His comments come against the backdrop of renewed geopolitical tensions across Europe and its neighbourhood. The war in Ukraine, which began with Russia’s full-scale invasion in February 2022, continues to reshape European security thinking. In recent months, Russian forces have repeatedly targeted Ukraine’s energy infrastructure, striking power stations and transmission facilities in cities such as Kyiv, Kharkiv and Dnipro, especially during winter periods. These attacks have caused widespread blackouts and highlighted the vulnerability of energy systems during modern conflicts.
