The European Council is meeting in Brussels today and Friday to discuss a packed agenda dominated by foreign policy issues. The ongoing wars on Europe’s doorstep have overshadowed the typical economic and financial matters that are usually discussed at the Eurosummit. The Eurosummit will be held tomorrow with Christine Lagarde for the ECB and Paschal Donohoe for the Eurogroup.
One of the most important topics on the agenda is discussions on Ukraine, where leaders intend to send a message of urgency, intensity, and determination regarding military support for Kiev. The leaders have agreed on the reform of the European Peace Facility to allocate 5 billion euros for military aid to Ukraine this year. However, there are hurdles from some neutral countries and Hungary regarding using frozen Russian Central Bank assets for military aid to Ukraine.
Another topic that is causing divisions among members is the war in Gaza, particularly with regards to humanitarian pauses and ceasefires. The European Council aims to address nuanced responses to the situation while emphasizing concerns about potential offensives and UNRWA’s role in the region. The draft conclusions acknowledge the need for immediate humanitarian action and a sustainable ceasefire but achieving unanimity on this issue may prove challenging.
The summit also includes discussions on enlargement, migration, agriculture, and defense capabilities. Some countries believe there should be a paradigm shift in EU’s defense capabilities due to security concerns related to these issues. Discussions on financing and role of European Investment Bank are also expected.
It remains uncertain how long the summit will last as political issues are not numerous but important for some countries. However, it’s possible that discussions on EU’s ‘top jobs’ for next legislature may begin on sidelines of this summit.
Overall, it seems like foreign policy issues dominate this meeting of European Council in Brussels with ongoing conflicts overshadowing economic matters typically discussed at Eurosummit.
