Mr Draghi thanked the university for its countless contributions in the field of economics, law, political science and history. He described how it has often been the meeting point where academic research helps answer the urgent policy questions of the EU.

He said that 10 years after the great financial crisis, the euro area looks set to exit more resilient than it entered it. And that much of the harm caused by the economic downturn has now been reversed by a consistent period of growth. However he went on to stress that the Monetary Union is not complete and that the crisis revealed some specific fragilities in the euro area’s construction that so far have not been resolved. 

He concluded by saying that in order to make the Monetary Union more robust against future challenges, we need to address these fragilities.