The illusion that the European Union has weight in geopolitics and international trade has been dispelled with the arrival of Donald Trump in the White House.
This opinion was expressed by the former Prime Minister of Italy and former head of the ECB Mario Draghi, writes Corriere della Sera.
„For many years, the European Union believed that the economic dimension, with its 450 million consumers, had weight in geopolitics. This year will be remembered as the year when the illusion was shattered, he said.
In politics, the point of no return was the arrival of Donald Trump in the United States, after which everything changed dramatically.
The EU had to come to terms with tariffs imposed by its largest trading partner and long-time ally, the United States. That same ally pushed Europe to increase military spending, Draghi added.