The Charlemagne Prize honors those who advance European unity. This year's winner is Italy's Mario Draghi, a former European Central Bank chief and a key architect of European stability during a time of economic crisis.

The former head of the European Central Bank Mario Draghi was presented with the prestigious Charlemagne Prize at a ceremony in Aachen, western Germany, on May 14.

"You took charge of the euro during a time of crisis, and you stabilized the euro and the eurozone," Chancellor Friedrich Merz said during his speech honoring Draghi.

With his 2024 report on the future of European competitiveness, dubbed the Draghi Report, Merz said Draghi had "pointed the way toward reform with his unsparing analysis."

"I think you'll understand why his friends call him Super Mario," the German chancellor joked.