With its current course leading only to economic stagnation, the EU must establish a vision for a more dynamic, productive future. Above all, Europeans must answer a simple but critical question: What should the EU look like – in terms of innovation, the economy, security, and resilience – in a decade?
MILAN – The global economic shocks of the past few years have left Europe particularly vulnerable. While virtually everyone has suffered from climate- and pandemic-related disruptions, the European Union has also had the Ukraine war unfolding on its doorstep, and its acute dependence on energy imports has meant that rising prices – and the need to shift away from Russian fossil fuels – have bitten especially hard. Both growth and economic security are under pressure.
MILAN – The global economic shocks of the past few years have left Europe particularly vulnerable. While virtually everyone has suffered from climate- and pandemic-related disruptions, the European Union has also had the Ukraine war unfolding on its doorstep, and its acute dependence on energy imports has meant that rising prices – and the need to shift away from Russian fossil fuels – have bitten especially hard. Both growth and economic security are under pressure.