Mario Draghi’s Brexit jab at the United Kingdom: ‘Race to the bottom on standards’.
According to a rediscovered story, Italy’s Prime Minister, MARIO DRAGHI, made a sneaky Brexit jab at Britain about life outside the EU.
Last year, the United Kingdom exited the European Union, bringing the total number of members to 27. In February of this year, Mr. Draghi was sworn in as Italy’s new Prime Minister, while the UK was still adjusting to life outside the EU. The former President of the European Central Bank (ECB) promised a range of reforms to his country in his first few days as Prime Minister. He promised to devote all of his resources to resolving the COVID-19 situation, which hit Italy in early 2020.
Mr. Draghi also warned legislators that supporting his administration meant supporting the concept of a “more connected European Union.”
The Prime Minister’s support for the EU may be traced back to his eight-year term as President of the European Central Bank, a 19-nation currency union.
However, newly uncovered comments during Mr. Draghi’s term as ECB President demonstrate how he leveraged his faith in the EU to criticize Britain’s decision to leave the bloc.
Mr. Draghi said in a 2019 address at the University of Bologna that EU member states exiting the bloc were relinquishing their sovereignty.
He asserted that the EU’s goal was to “guarantee that globalization does not devolve into a race to the bottom in terms of standards.”
“The EU… permits countries to reach goals that they could not achieve on their own,” he remarked. In consequence, the EU is allowed to export some of its standards around the world.
“Working together at the EU level strengthens their ability to do so.”
Mr. Draghi’s remarks were undoubtedly aimed at Italy’s anti-EU coalition of the Five Star Movement and the League, as well as the United Kingdom.
The political parties were the largest bloc in the Italian Parliament when they came to power in 2018.
After being urged to create a unity government early this year, both parties eventually threw their support behind Mr. Draghi.
Mr. Draghi also discussed his thoughts on Brexit as he prepared to step aside as ECB president in late 2019, according to newly discovered comments.
He cautioned that the UK’s exit from the EU could harm the eurozone, speaking in Frankfurt following his last ECB policy meeting.
“Data received since the last governing council meeting in early September confirms our previous judgment of a.”Brinkwire Summary News,” he stated.