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EUROPE: EPC Meets Amid Trump Election Fallout & German Gov't Collapse

EUROPE
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The European Political Community (EPC) is meeting in Budapest, Hungary, as leaders across the continent assess how best to interact with the US following the election of Donald Trump. The meeting of leaders from not just the EU, but non-EU countries such as the UK, Ukraine, and Turkey, also comes amid the collapse of the gov't of Europe's largest economy, Germany. 

  • Speaking at the EPC, French President Emmanuel Macron 'Reaffirms it its in our common interest that Russia must not win its war against Ukraine.' Macron: 'Europe needs to do more to boost the region's economic growth and innovation... [we] need less bureaucracy in Europe'.
  • Following the election of Donald Trump, Macron says 'We cannot keep outsourcing the security of Europe to the US'. During his presidential campaign, Trump repeatedly lashed out at 'delinquent' NATO members that do not spend 2% of their GDP or above on defence.
  • Trump has threatened full US withdrawal from NATO, the 'nightmare' scenario for Europe, but even if the US remains in the alliance its inclination to provide a security umbrella for Europe will be much reduced.
  • This in turn will force European nations to spend more on defence, rather than opting to do so, in turn forcing either expanded budgets or significant gov't cutbacks in other areas of public spending.
  • German Chancellor Olaf Scholz was expected to play a prominent role at the EPC, but amid the collapse of his coalition will only attend the evening dinner. 
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The European Political Community (EPC) is meeting in Budapest, Hungary, as leaders across the continent assess how best to interact with the US following the election of Donald Trump. The meeting of leaders from not just the EU, but non-EU countries such as the UK, Ukraine, and Turkey, also comes amid the collapse of the gov't of Europe's largest economy, Germany. 

  • Speaking at the EPC, French President Emmanuel Macron 'Reaffirms it its in our common interest that Russia must not win its war against Ukraine.' Macron: 'Europe needs to do more to boost the region's economic growth and innovation... [we] need less bureaucracy in Europe'.
  • Following the election of Donald Trump, Macron says 'We cannot keep outsourcing the security of Europe to the US'. During his presidential campaign, Trump repeatedly lashed out at 'delinquent' NATO members that do not spend 2% of their GDP or above on defence.
  • Trump has threatened full US withdrawal from NATO, the 'nightmare' scenario for Europe, but even if the US remains in the alliance its inclination to provide a security umbrella for Europe will be much reduced.
  • This in turn will force European nations to spend more on defence, rather than opting to do so, in turn forcing either expanded budgets or significant gov't cutbacks in other areas of public spending.
  • German Chancellor Olaf Scholz was expected to play a prominent role at the EPC, but amid the collapse of his coalition will only attend the evening dinner.