Mario Draghi awarded Charlemagne Prize for European service

Mario Draghi received the Charlemagne Prize Thursday in recognition of his decades of service to Europe.

The banker and former Italian Prime Minister is credited with steadying the European financial system during the eurozone crisis, notably through his iconic 2012 declaration that he would do "whatever it takes" to preserve the euro.

Draghi served as ECB president before taking the helm of Italy's government. The prize underscores his widespread respect across EU institutions and member states for his role in defending European economic stability during a critical period.