EU Leaders Face Economic Challenges After Trump Win

The recent election of Donald Trump has intensified concerns among European leaders about the continent's economic competitiveness and political stability. Hungarian Prime Minister Viktor Orbán celebrated Trump's victory, viewing it as an opportunity to shift Europe's stance on Ukraine, while other leaders expressed anxiety over potential U.S. tariffs and a weakened transatlantic relationship. Former ECB chief Mario Draghi emphasized the urgency for the EU to boost investments by 750-800 billion euros annually to keep pace with the U.S. and China amidst rising internal strife, particularly after the collapse of Germany's coalition government. Central bank officials warned that Trump's policies could lead to inflation and increased public debt in the U.S., with negative repercussions for Europe. As EU leaders prepare to discuss economic reforms, they face challenges in unifying their approach amid diverging national interests and political instability. The overall sentiment reflects a pressing need for decisive action to avoid a prolonged economic decline.