The Karl Prize was conferred upon Mario Draghi, former President of the European Central Bank and former Italian Prime Minister, in the coronation hall of the Aachen Town Hall on Thursday.
In his acceptance speech, Federal Chancellor Friedrich Merz (CDU) praised Draghi’s efforts, stating that the economist stabilized the Euro during “a time of great danger”. Merz commended the former central banker for taking calculated risks, noting that the austerity measures implemented in Greece, while “hard” were “right” because the country is now able to repay its loans.
Addressing the broader role of the continent, Merz suggested that Europe has a unique opportunity to shape the new global order, one where “norms and rules prevail over arbitrary decisions”. He observed that Europe has finally been “awakened” and is now identifying the full measure of its own power. Merz emphasized that the European nations themselves must decide what speaks for them, asserting that they must also utilize their “economic might” to enforce their interests globally.
The Karl Prize has been awarded annually since 1950 to prominent figures who, according to the Karl Prize Directorate, have dedicated themselves to Europe and European unity. Past recipients include notable figures such as the late Pope Francis, French President Emmanuel Macron, EU Commission President Ursula von der Leyen, and former U.S. President Bill Clinton. The award is named after Charlemagne, who was regarded during his lifetime as the “Father of Europe”.