Mario Draghi calls for stronger European integration in Zurich: "The old growth model no longer works"

Former ECB President Mario Draghi called for stronger European integration at ETH Zurich. He emphasized that the old growth model no longer works and that Europe must remain competitive through a common single market, investments in key technologies, and innovative strength.

Mario Draghi, the former President of the European Central Bank (ECB), urgently called for stronger European integration at ETH Zurich on October 2, 2026. In his speech, Draghi warned that Europe's established growth model has had its day and that new impulses are urgently needed to make the continent fit for the future. This call for a strategic realignment of Europe, particularly with regard to economic competitiveness and geopolitical challenges, was closely followed by an international audience of experts.

Draghi's analysis highlights structural deficits in the European economy, characterized by fragmentation, insufficient investment in key technologies, and a heterogeneous competitive landscape. He emphasized the need to reduce bureaucratic hurdles, create a true single market for capital and services, and strengthen innovation through joint research and development. Closer cooperation, according to Draghi, is essential to meet global players like the USA and China on equal footing and to secure Europe's position in a rapidly changing world. The challenges range from digitalization and climate change to demographic shifts, which can only be successfully overcome through concerted European efforts.

The implications of Draghi's theses are also relevant for prospective MBA students and business professionals. The call for a European renewal points to an increased demand for leaders with a deep understanding of complex economic policy contexts, international markets, and digital transformation. MBA programs focusing on European economic policy, innovation management, sustainable business models, and intercultural leadership could gain importance in the coming years. Graduates with such a profile would be ideally positioned to work in companies and organizations that will be involved in shaping the new European growth model.

Europe's Path to Renewal

In particular, the areas of energy, defense, and high technology were identified by Draghi as fields where deeper integration is not only desirable but mandatory to ensure competitiveness and sovereignty. The economies of scale resulting from closer European cooperation could release enormous economic potential and strengthen Europe as an attractive location for investment and talent. However, this requires political determination and the overcoming of national particular interests.

Draghi's speech in Zurich, a major financial and innovation hub, underscores the urgency of a proactive redesign of the European economy. For those interested in an MBA, this means that the leaders of the future will not only need sound business knowledge but also the ability to think strategically in an evolving European context, manage complex projects, and promote cross-border cooperation. The challenges of the coming years will significantly shape European companies and institutions, and thus also the requirements for their leaders.