FT News Briefing Draghi urges EU to abandon unanimity requirement
May 4, 2022
BP boasts record quarterly earnings, raising eyebrows and fueling discussions about a possible windfall tax. Meanwhile, Italy's Prime Minister Mario Draghi advocates for eliminating the EU's unanimity requirement in foreign policy, signaling a shift in governance dynamics. In the biotech world, Biogen's CEO steps down after the underwhelming launch of its Alzheimer's drug, leading to significant financial fallout. The podcast delves into these pivotal issues shaping the economy and corporate strategies.
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EU's Hindered Actions
- Draghi's proposal is driven by a sense that the EU's actions are hindered by the unanimity requirement.
- This makes the bloc vulnerable to influence from countries like Russia, especially in swift decision-making.
Unanimity: A Fundamental EU Principle
- Scrapping unanimity is a significant change, as it's a fundamental EU principle affecting sensitive issues.
- This shift aims to improve the EU's response to security and economic challenges, especially regarding Russia.
Draghi's Proposal for EU Unanimity
- Italy's Prime Minister Mario Draghi urged the EU to abandon unanimity on foreign policy decisions.
- This would be a radical shift, impacting areas like taxation and accession of new members.