“The war in Ukraine was preceded by a long series of deviations from our core values: the admission of Russia to the G8 despite non-recognition of Ukrainian sovereignty, the failed promise of intervention in Syria if Assad had used gas as a weapon, the Crimea, the withdrawal from Afghanistan. The lesson to be learned from this is that we must never compromise our core values,” on which the EU is built, namely peace, democracy, freedom, national sovereignty: this is what former Prime Minister Mario Draghi said at a Financial Times event.
“We cannot sit still and not react. We have discovered that what we had taken for granted for many years was not taken for granted at all, and we must fight to defend it.”. But I have no doubts about the ultimate success,” Draghi said, reiterating that “there is no other alternative but to win this war.”
“Around the world we are witnessing the rise of autocracies and illiberal democracies, the denial of civil liberties and the violation of human rights. We must fight, each in his own personal space but also together, to ensure that the denial of our values does not prevail,” he added.
In the eurozone “there is a risk of recession, but I wouldn’t say it is deep or destabilizing,” because “the starting point is very high, with the lowest unemployment ever and a robust labor market”: said former ECB President and former Italian Prime Minister Mario Draghi at a Financial Times event. Draghi explained that monetary policy “may have been a little too slow” in tackling inflation, but there is a reason for that.: The supply shock was entirely due to the price of gas, an increase that is the result of deliberate Russian policy.” In any case, “inflation is now falling” and the first two quarters of next year will show whether we will have a recession, which in any case will be “not destabilizing”.
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