Mario Draghi, the former president of the European Central Bank and ex-Italian prime minister, is to be awarded the Charlemagne Prize on Thursday in recognition of his contribution to European integration.
The prize’s board of directors praised the 78-year-old for having “achieved great things for Europe with purpose and unwavering determination.”
The board cited Draghi’s extensive report on European competitiveness, which was published in 2024. In it, he warned that the EU must urgently become more innovative or risk falling behind other economic powers such as the United States and China.
He is perhaps best remembered for declaring in 2012, at the height of the eurozone crisis, that the ECB would do “whatever it takes” to safeguard the single currency.
Previous recipients of the award, handed out by the western German city of Aachen since 1950, include Winston Churchill, pope Francis and Ukrainian President Volodymyr Zelensky.
The keynote speeches at the award ceremony in Aachen Town Hall will be delivered by German Chancellor Friedrich Merz and Greek Prime Minister Kyriakos Mitsotakis.
The International Charlemagne Prize of Aachen is regarded as the most prestigious award for services to European integration.
It was established shortly after World War II by citizens of the western German city of Aachen and is named after Emperor Charlemagne (748-814), who is sometimes referred to as the “Father of Europe.”
Since last year, the Charlemagne Prize has been accompanied by a cash prize of €1 million ($1.17 million), donated by a couple from Aachen.
European Commission President Ursula von der Leyen took home the award in 2025. The last Italian to win the award was Andrea Riccardi, the peace mediator and founder of the Catholic community Sant’Egidio, in 2009.