My latest column for @BrusselsTimes analyses the EU's 4 big weaknesses and sets out what it needs to do to become a superpower.

www.brusselstimes.com/column/18342...

www.gov.uk/government/s...

Agreed. He often makes me question my views

Done right, eg @bruegel.bsky.social‬ EDM proposal, this could also help streamline military procurement, better integrate Europe’s fighting forces and provide a much-needed lift to Europe’s struggling economies.

Read my latest Substack essay for more.

philippelegrain.substack.com/p/europe-nee...

The best way forward is for a coalition of willing governments, both EU and non-EU (eg UK), to borrow collectively.

As investors seek alternatives to dollar assets, there's huge appetite for safe, euro-denominated bonds...

But three big constraints

1. fiscal rules (now OK in the #EU, not in the #UK)

2. financial borrowing power (fine for #Germany, less so for #France and UK)

3. political feasibility (OK for Germany & France, less so for UK; #Hungary veto at EU level)..

Three immediate priorities:

1. defend #Ukraine

2. deter #Putin

3. reduce dependence on #Trump

While this will eventually require tax rises and/or spending cuts, the best way to fund a big emergency boost to defence spending is by borrowing more for a few years...

There's a v big difference between US and UK/EU DEI. US used to allow/encourage positive discrimination in favour of members of disadvantaged minorities. The EU's Race Equality Directive doesn't. It permits only positive action to help members of disadvantaged groups achieve equality of opportunity