The rules-based international system has fundamentally altered. André Sapir, Jacob Funk Kirkegaard and Jeromin Zettelmeyer examine the short-term risks, medium-term scenarios and policy choices and discuss how Europe can hold its own in a multipolar world

EU candidate countries remain far from EU averages in terms of GDP per capita and their demographic and labour market characteristics. Marek Dabrowski and Maria Catarina Louro examine selected income, demographic and labour market indicators to assess progress

The EU is engaged in an unprecedented struggle for independence, values and democracy in a world shaped by the re-emergence of imperial ambitions. Simone Tagliapietra says Ursula von der Leyen is right to say Europe is in a ‘fight’ around competitiveness and values, but it may lack the right pugilistic attitude

For frontier AI models, more training data improves performance. Tweaks to EU copyright requirements in the AI Act Code of Practice will maintain the AI growth momentum, for now – but will also create new challenges. Bertin Martens discusses

The US willingness to weaponise trade makes clear that transatlantic economic relations have become entirely transactional. Luis Garicano argues that Europe must respond to US tariffs with economic strength: faster productivity growth, cheaper energy, a genuine continental market, and tech leadership

Innovation in money and payments is happening at pace. Sarah Breeden sets out her vision for a ‘multi-money’ system where different forms of money including traditional and tokenised commercial bank deposits, stablecoins and central bank money are freely exchangeable