EU leaders gather in Brussels today for a summit that analysts say will determine whether the bloc builds its position as a geopolitical power — or fades to second-tier status.
On the agenda are negotiations over long-term funding for Ukraine, finalizing a deal with Latin America’s biggest economic union that has proved controversial within Europe, and the EU’s own long-term spending program.
Attacks from Washington on the bloc’s trade strategy, domestic politics, and security spending have intensified internal divisions, but reform is urgently “required to remain relevant” in a world increasingly dominated by the US and China, JP Morgan CEO Jamie Dimon and former British Prime Minister Tony Blair warned in a new report.
