Europe must fight illiberal ideology, warns ECB President Mario Draghi

The fascination with illiberal prescriptions and regimes is spreading; we are seeing little steps back in history, said Draghi

The spread of illiberal ideology is threatening the euro but it is an illusion that leaving it would offer an easier path, European Central Bank President Mario Draghi said on Saturday. 

Warning that a half-finished monetary union could be at risk in the next crisis, Draghi made the case for sweeping changes in how the currency bloc operates and spreads around financial risk.

“The fascination with illiberal prescriptions and regimes is spreading; we are seeing little steps back in history,” Draghi said in Pisa, Italy.

“Only by continuing to make progress, freeing up individual energies but also fostering social equity,