Mario Draghi 2025 Princess of Asturias Award for International Cooperation

Mario Draghi was born in Rome, Italy, on 3rd September 1947. He graduated in Economics from La Sapienza University in his hometown in 1970 and subsequently continued his education at the Massachusetts Institute of Technology (MIT), where he received his PhD in 1976. He lectured at the Italian Universities of Trento, Padua, Venice and Florence, and in 1985 was appointed Executive Director of the World Bank, a position he held until 1990. Between 1991 and 2001, he was Director General of the Italian Treasury during ten terms of government of different political slants. He subsequently joined Goldman Sachs, where he was Vice President for Europe. In 2005, he was appointed Governor of the Bank of Italy and in 2011 became President of the European Central Bank (ECB), a position he held until 2019. Following a period of instability in Italian politics, in February 2021 he was tasked with forming a new government by the President of the Italian Republic, Sergio Mattarella, and was sworn in as Prime Minister, a position he resigned from in October 2022.

Throughout his career as an economist and statesman, Mario Draghi has been considered a key figure in the defence of European integration and international cooperation. Hailed by some as “the saviour of the euro”, his work as ECB President was widely recognized for his firm commitment to the stability of the single currency and to the fundamental values of the European Union (2017 Princess of Asturias Award for Concord). During the sovereign debt crisis that began in 2008, his declaration that the ECB would do “whatever it takes” to preserve the single currency was a milestone that restored market confidence and strengthened the cohesion of the European project. Launched in 2015 and maintained until 2018, the so-called “Draghi Plan” sought to reduce inflation to the 2% level set by the ECB and sustain economic growth in EU countries through the purchase of public and private assets. Although this plan has received criticism regarding its effectiveness and potential negative effects on the financial system, many experts have emphasized that it was a fundamental tool in saving the European economy during one of the most serious crises in recent decades. 

Subsequently, as Prime Minister of Italy, Draghi led a technically-oriented national unity government, supported by parliamentary forces of diverse ideologies and focused on implementing structural reforms and effectively managing funds from the Next Generation EU recovery program. In this role, he promoted multilateralism, cooperation between EU Member States and the strengthening of Europe’s role on the global stage, championing common policies on health, energy transition and digitalization. Renowned for his independence and long-term vision, Draghi has persistently advocated for a more united, resilient and supportive Europe. At the international level, he has maintained close ties with the world’s major democracies, helping to align Europe’s response to challenges such as the pandemic, climate change and geopolitical conflicts. In 2023, the President of the European Commission Ursula von der Leyen tasked Draghi with preparing a report on Europe’s competitiveness, underscoring his continued commitment to strengthening the continent’s institutions and economies. Presented in 2024, the report stresses the importance of strengthening the EU’s ties and of developing a common strategy for growth and improving competitiveness, focused on three transformations: innovation, decarbonization and economic security. 

Knight Grand Cross of the Order of Merit of the Italian Republic, Mario Draghi has received numerous awards, including the Grand Collar of the Order of Prince Henry of Portugal, the Grand Cross of Merit of the Federal Republic of Germany, the Order of Prince Yaroslav the Wise of Ukraine, the Global Citizen Award of the Atlantic Council (USA, 2015), the Charles V European Award (Spain, 2024) and the PoliTO Foresight and Innovation International Award (Italy, 2025), among others. In 2012, he was named Person of the Year by the Financial Times newspaper. Draghi is also a member of the board of directors of the Institute for Advanced Study in Princeton (USA) and an Honorary Trustee of the Brookings Institution and an Institute of Politics Fellow at the John F. Kennedy School of Government at Harvard University (USA).