Draghi Warns That Rifts in the EU Will Be a Victory for Putin

(Bloomberg) -- Italy’s outgoing prime minister, Mario Draghi, told his fellow European Union leaders that the region was in a recession and that divisions in the bloc would be a victory for Russian President Vladimir Putin, according to people familiar with his remarks.

Most Read from Bloomberg

• Twitter Tumbles as US Weighs Security Reviews for Musk Deals

• Trump Deposed in Suit by Investors Claiming Fraud in ‘Apprentice’ Videophone Pitches

• China Summons Chip Firms for Emergency Talks After US Curbs

• Transcript: Nouriel Roubini Predicts a Crisis 'Worse' Than the 1970s

• Liz Truss Odds: The Front-Runners to Replace the Prime Minister

The warning comes as leaders debate a contentious energy package and after Germany was criticized over a €200 billion ($196 billion) national aid plan that some have said would create imbalances in the EU.

The former head of the European Central Bank, 75, struck a forthright and bleak tone at a summit in Brussels on Thursday, said two of the people, who asked not to be named on closed-door discussions.

A spokesperson for Draghi declined to comment on the remarks.

The premier, who is due to be succeeded by right-wing coalition leader Giorgia Meloni, warned about EU countries financing the Russian leader, according to the people. He said that the bloc’s economy is in a recession, underscored by market fragmentation which has a negative impact on the EU’s unity.

Creating division among EU countries is part of Putin’s strategy and if the EU does not show unity, then Putin wins, Draghi said, according to the people.

--With assistance from Alberto Nardelli and Ania Nussbaum.

Most Read from Bloomberg Businessweek

• Putin’s Conscriptions Supercharge Russia’s Brain Drain

• Europe’s Most Valuable Tech Company Tries to Avoid the Chip War

• Ukrainians Return Home by the Millions Even as War Rages On

• The Rich Are Spending on Luxury Goods Like It’s 1999

• John Mack, Who Led Morgan Stanley Into a Crisis, Regrets Little

©2022 Bloomberg L.P.