EU Leaders Meet in Belgium on Economic Revitalization

European Union leaders gathered Thursday at the 16th-century Alden Biesen castle in Bilzen, Belgium, for an informal summit aimed at revitalizing the bloc's economy amid escalating global pressures from the United States and China. The meeting, hosted by Belgian Prime Minister Bart De Wever, focused on enhancing competitiveness, reducing bureaucratic hurdles and shielding strategic industries from unfair competition and economic coercion.

The discussions highlighted deep divisions among the 27 member states on how to navigate these challenges. French President Emmanuel Macron advocated for a stronger "European preference" policy, urging public funding to prioritize EU firms in critical sectors such as clean technology, defense, semiconductors and the automotive industry. "We need to protect our industry," Macron said in a recent interview with European newspapers. "Without some European preference on strategic sectors, Europeans will be swept aside." He also renewed calls for eurobonds, joint EU debt instruments to fund ambitious projects and counter the financial dominance of the dollar, warning that fragmentation could lead to Europe's economic humiliation.