Estonia’s Prime Minister Kaja Kallas (left), European Commission President Ursula Von der Leyen and former Portuguese prime minister Antonio Costa (right) attend a meeting at Brussels Airport, Belgium, on June 28, a day after an EU summit. [AP]
The global financial crisis has prompted stress tests for banks in the US, Europe, and Greece. Now, facing political, economic, and geopolitical challenges, Europe needs to prepare for a triple stress test.
Politically, EU leaders must navigate far-right victories and nominate competent leaders like Ursula Von der Leyen. Economically, France, Germany, and Italy face uncertainties that could trigger financial crises. Geopolitically, threats from a re-elected Trump could disrupt global stability.
These stress tests highlight the need for bold European leadership in defense, climate action, economic cooperation, and social equality. The time for decisive action is now to secure democracy, peace, and prosperity in Europe.
George Papaconstantinou, former Greek Finance Minister, stresses the urgency for European integration and proactive measures to address the impending challenges.