The 27 heads of state and government of the European Union are scheduled to meet in eastern Belgium on Thursday for a day-long summit focused on revitalizing the bloc’s sluggish economy, cutting red tape, drawing investment and fostering innovation.
The gathering comes at a time of heightened pressure for the EU, as it faces steep tariffs imposed by the Trump administration and a surge of inexpensive imports from China.
On the eve of the meeting, European Commission President Ursula von der Leyen underscored the stakes, warning that Europe’s influence on the world stage depends “greatly” on the strength of its economy.
“Competitiveness is not just the foundation of our prosperity but of our security, and ultimately of our democracies too,” von der Leyen said.
While there is broad consensus among leaders about the challenges confronting the bloc, divisions remain over how best to address them, dampening hopes for a major breakthrough at the summit.
Earlier in the week, French President Emmanuel Macron advocated issuing “future-oriented Eurobonds” to help fund strategic initiatives.
“The global market is increasingly afraid of the American dollar. It’s looking for alternatives. Let’s offer it European debt,” he said.
In contrast, German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni are expected to advance a shared economic approach centered largely on deregulation.
At the same time, the Netherlands, Nordic countries and Baltic states plan to argue against adopting a “Buy European” policy, which they view as a form of disguised protectionism.
Former Italian prime ministers Mario Draghi and Enrico Letta, who each prepared separate reports on the state of the European economy, are also set to take part in the discussions.
