The ‘frugal’ states and the ‘cohesion’ countries remain entrenched in their respective positions, and negotiations on the 2028–34 European budget have stalled. Funding for competitiveness and defence is at risk, whilst national interests continue to take precedence over European strategic priorities.

The price of gas is already enough to discourage its use, but the ETS further increases the cost of energy. The EU defends the system partly because of the revenue it generates and partly because of the financial interests linked to the emissions trading market 

The battle over strengthening ESMA shows how the interests of national authorities continue to hold back the integration of European financial markets. Between powers to be defended and stock exchanges excluded from common supervision, Europe remains fragmented, whilst companies struggle to grow (and shift capital to Wall Street).

The European Union has remained Kyiv’s staunch ally. The Ukrainian president is calling for funding for 2027, sanctions against Russia and the freezing of Russian assets. The challenge facing Europeans and the next taboos to be tackled

The Napolitano Foundation, in collaboration with Luiss, has brought together academics and key figures from Europe’s decades-long journey for two days of debate, opened by President Walter Veltroni. The past and future of the Union are on the agenda. 

“If we do not develop structural, long-term solutions to high energy prices, we risk becoming increasingly at the mercy of emergencies.” Giorgia Meloni once again highlights energy costs as one of the key issues affecting European and Italian competitiveness

The Ventotene affair, involving the visit by the Taiwanese vice-president and the protest from Beijing. “If you try to pander to a country like China, it will only end up making further demands. It will keep asking for more and more. But when you maintain a firm stance and set clear boundaries, then China will eventually accept the situation.”