Newsletter

From Russia’s war in Ukraine to the green and digital transformation, we’re not short on challenges nowadays. What we are lacking is the vast sums of money needed to deal with them. The EU requires an estimated 500 billion euros a year for the green transition, while NATO’s European members need to find another 56 billion euros annually to meet the alliance’s 2% defence spending target.

In late 2019, the European Green Deal was presented with pomp and circumstance, garnering widespread support. Just over four years later, as the current EU political cycle comes to an end, this support is withering. The European Commission has shelved parts of the Deal, scrapping proposals to halve the use of pesticides, for example. In the Council, the Nature Restoration Law hangs in the balance. And in the European Parliament, the conservatives have worked to reduce the ambition of the Green Deal, while  the liberals have called for a “regulatory pause”. Meanwhile, the social democrats are campaigning to put the social dimension front and centre.

In fewer than 100 days, Europe’s citizens will go to the polls to elect their representatives to the European Parliament. The outgoing parliament faced historic challenges, from the COVID-19 pandemic to Russia’s war in Ukraine. It rose to the occasion, advancing key legislative proposals and promoting the European Green Deal as a flagship project.

The fabric of the European security order is fraying. Putin’s imperialist revisionism threatens Europe. Trump is undermining US security guarantees for Europe. And Orbán’s vetoes are impeding European action. This is nothing new; the writing has been on the wall for a long time. What has changed is the urgency. Putin’s revisionism, Trump’s erraticism, and Orbán’s obstructionism are coming to a head. It’s crunch time.