A meeting that brings together European leaders at a time of great uncertainty: the informal summit in Budapest has highlighted internal divisions and the need to address new geopolitical challenges. With Donald Trump’s return to the American political scene, the European Union is facing a crucial choice for its future.
The summit highlighted that, despite good intentions, Europe cannot yet consider itself ready for a decisive renewal. Internal tensions, combined with the fragility of the German leadership and the rise of sovereignist movements, further complicate the situation. However, there is one point on which everyone agrees: the report of the former president of the ECB, Mario Draghi.
Draghi warned that with the evolving situation in the United States, the European Union can no longer postpone important decisions. The dinner in the Hungarian Parliament and the summit sent a clear message: now is not the time to panic about Trump. During his speech, Draghi stressed that relations between Europe and the United States will undergo significant changes with the arrival of Trump. He urged leaders not to procrastinate on their strategic choices.
Christine Lagarde, the current president of the ECB, shared an optimistic view of the European banking system, suggesting that savings should be invested in innovation. However, no mention of eurobonds or common financing emerged during the discussions. President von der Leyen spoke of alternative instruments to support the Union’s competitiveness, such as the idea of own resources from the multiannual budget or new funds similar to Next Generation EU. According to von der Leyen, a first concrete proposal could be presented in June 2025. On the issue of defense, Draghi suggested that it is possible to increase resources for NATO without violating the European Stability Pact. However, this topic remains sensitive and divisive. Giorgia Meloni expressed concerns about defense investments without compromising the well-being of Italian citizens. In this context, the Italian PM expressed support for strategic collaborations, highlighting the need for Europe to reflect on itself rather than follow external influences.
Trump’s arrival represents a paradigm shift for Europe. Figures like Viktor Orban have already aligned themselves with his positions, while Emmanuel Macron seeks to consolidate his leadership on the continent. Meloni is uniquely positioned to mediate between these divergent forces. With the European Commission set to develop a new strategy in the next two months, there are already interesting ideas to address the current situation. The idea of replacing Russian liquefied natural gas with American supplies could be a win-win solution to improve the European trade balance. Europe must now find a balance between internal unity and strategic responses to the coming global challenges.
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