Mario Draghi handed over to Christine Lagarde as European Central Bank chief Monday saying it was "easier to say goodbye knowing that the ECB is in good hands".
"It is time for more Europe, not less Europe," Draghi added.
Draghi was speaking at a ceremony marking the end of his eight-year term as president, with Lagarde who will take over on November 1, and European leaders.
Italian President Sergio Mattarella said Draghi had warded off the risk of the end of the euro and said that he had worked for a more solid Europe.
German Chancellor Angela Merkjel agreed with Draghi that it was a "consolation" to know the ECB was in good hands, referring to former IMF managing director Lagarde.
French President Emmanuel Macron said Draghi was a worthy heir of the EU's founding fathers, such as Jean Monier, Robert Schuman, Konrad Adenauer and "your illustrious compatriots Alcide De Gasperi and Altiero Spinelli".
Macron said that Draghi had "raised high the European dream".
He added that EU leaders must now respond to Draghi's call for expanive budget policy to flank the ECB's monetary policy.
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