European Central Bank President Mario Draghi said he supported German plans to create a European commissioner with widespread powers over national budgets, in an interview with Spiegel published in English on October 29.
A fortnight ago, German Finance Minister Wolfgang Schäuble suggested the creation of a super-commissioner who would be “feared around the world.” This man would have the power to veto the budgets of eurozone nations and would be one of two EU commissioners authorized to act without the agreement of his colleagues.
When asked about the proposal during his combative interview with Spiegel, Draghi announced: “I am fully in favor of it.”
“Governments would be wise to seriously consider it,” he said. “I firmly believe that, in order to restore confidence in the euro area, countries need to transfer part of their sovereignty to the European level.”
This comes from the man of whom Spiegel asked: “Would it be wrong to call you the most powerful man in Europe?”
As Trumpet columnist Ron Fraser has pointed out, Draghi represents the view of the Catholic Church in Europe. If both Germany and the Catholic Church want this new super-commissioner, there’s a good chance it will happen.
The holder of this office could easily oust Draghi from the position of “most powerful man in Europe.” ▪