EU leaders convened for an informal summit on competitiveness at Alden Biesen castle in Belgium, aiming to discuss strategies for restoring European competitiveness and revitalizing a stagnant economy. The discussions were bolstered by the presence of former Italian Prime Ministers Mario Draghi, dubbed 'Super Mario', and Enrico Letta, who had both submitted reports in 2024 diagnosing the EU’s outdated economic doctrine. While no concrete decisions were anticipated from this 'retreat', the gathering underscored significant divisions among Europe's major economies.

A central theme of the summit revolved around the fundamental direction of Europe, with former Greek Finance Minister Yanis Varoufakis presenting a stark choice: federation or dissolution. Speaking to Euronews' 'Europe Today' programme, Varoufakis criticized EU leaders for avoiding both options and falling into a 'vacuum'. He attributed Europe's problems to a monetary union that lacks robust fiscal and investment structures, arguing that the continent has been deprived of investment for two decades. Varoufakis also accused European Commission President Ursula von der Leyen of offering 'empty phrases' that mask deeper failures.

Key debates at the summit highlighted contrasting economic philosophies. French President Emmanuel Macron advocated for 'future-oriented eurobonds' to finance strategic projects, proposing them as an alternative to the US dollar and calling for a 'Made in Europe' requirement in public procurements to protect key industries from aggressive foreign competition. Macron, while denying protectionism, stressed the necessity for Europe to protect its local producers, especially in sectors like automotive, warning of dire consequences if industries rely on cheaper foreign imports like Chinese steel. A leaked French government report even suggested a 30% euro depreciation against the renminbi or a blanket tariff on Chinese products might be necessary. Spain is expected to support Macron's calls for Eurobonds and preference for Europe-made components.

Conversely, German Chancellor Friedrich Merz and Italian Prime Minister Giorgia Meloni formed an alliance, 'Merzoni', pushing for an open approach to global trade and a significant deregulation drive. Poland echoed these calls for a massive simplification of EU regulations to reduce bureaucracy for businesses. Merz specifically opposed 'Made in Europe' provisions, fearing they could deter foreign investors, advocating instead for a lighter 'Made with Europe' approach. Commission President von der Leyen acknowledged this Franco-German rift, describing the establishment of European preference in public contracts as a 'fine line to walk'. She also repeatedly floated the idea of a 'two-speed' Europe, suggesting that some countries might need to integrate their economies further without the consensus of all 27 member states, a concept explained by Jakub Janas on 'Europe Today'.

In other news covered by Euronews: Ukrainian President Volodymyr Zelenskyy refuted reports of staging elections under US pressure, stating that a vote could only occur after a ceasefire with Russia and security guarantees are in place, as elections are constitutionally illegal under martial law. NATO launched its 'Arctic Sentry' programme, a new multi-domain activity agreed upon by Secretary General Mark Rutte and former US President Donald Trump, to strengthen NATO's posture in the Arctic and High North amidst increased Russian military activity and China's growing interest. The alliance denied claims that this was merely a rebranding exercise.

Furthermore, a Paris appeals court is set to rule on July 7th in a fraud case against far-right leader Marine Le Pen, a decision that could significantly impact her 2027 presidential ambitions, especially given rising support for her protégé Jordan Bardella. The European Commission’s proposal to revamp Europe’s maritime sector and ports, aimed at countering global competition and securing industrial leadership, has been pushed to March 4th. This strategy seeks to redefine ports as energy and innovation hubs, promoting cleaner fuels, electrification, digitalization, and green infrastructure. Industry leaders in Antwerp also emphasized the urgent need to cut energy prices, fearing their detrimental impact on Europe’s strategic economies. Other topics briefly mentioned included calls to outlaw AI nudification tools, France's debate on assisted dying, and US-Iran talks on a nuclear programme.