Frankfurt (Germany), May 14 (LaPresse) – “Europe has opened itself up to the world without completing its internal market. It has become too dependent on foreign demand, too dependent on capacities controlled elsewhere, and too fragmented to mobilize its own scale.” This was stated by former Prime Minister and former ECB President Mario Draghi as he received the Charlemagne Prize in Aachen. “Our sensitivity to changes in U.S. and Chinese policies is not simply bad luck imposed from the outside. It reflects our own failure to build a sufficiently deep internal market,” Draghi added, pointing to the unfinished nature of the single market as one of the European Union’s main vulnerabilities, citing “the fragmentation of capital markets, insufficiently integrated energy systems, and the burden of regulation.”
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