EU Leaders Urge ‘Paradigm Shift’ to Reverse European Decline
- Industry and defense are at center of Brussels leaders’ summit
- Some EU leaders chafe at the gulf between rhetoric and action
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The European Union’s waning clout versus major geopolitical rivals is sounding alarm bells in Europe’s capitals, compelling leaders to discuss a radical transformation to boost the bloc’s competitiveness in a hostile world.
That has led some capitals to push for fast-tracking policy prescriptions that have been long in the gestation — like bringing European markets closer together — as well as finding a way to issue more joint bonds to boost industry and defense.