Hey, we are on the move already! Better do your turns quick before the Dracolich comes and eats you
About how to defeat it, well, that depends on the nation

But you knew I was gonna say that, didn't ya?

I guess the convenient way to dispose of it would be dominion pushing. If it comes out of it's dominion then kill it and the problem is solved, if not just take the provinces one at a time once they are out of his dominion. Of course this assumes that you are capable of pushing dominion, which certainly would be hard at least against the build and strategy I used.
Another option is to rush the capital with all you've got and hope it's enough. It might well be if you for example have your own pretender capable of fragging the Draco. (For example a high-fire Moloch with herald lances

) Risky business.
Baically you need some sort of an edge over the nation you're facing, be it in research, gem income, armies or just better tactics or more friends. This holds true for all encounters, not just the Dracolich, right? It is definitely a very powerful option for Jotunheim, but I don't think it's unbeatable, since nothing is. (Yah, before you say it, Norfleet is beatable by someone using even more cheats, right?

) It may very well be too good for its cost, though, at least I think so. I didn't mean to hide my opinion the matter... And, frankly, I don't think I'm any more capable of beating the Draco than any of ya. In fact you guys have more experience in fighting it than I
Anyway, this game the Draco won't be fragging anyone so please don't gang up on me
