Our colleague from Brussels, Sabine Seeger-Regling, attended the Brussels Economic Forum on May 22. She reports on the key debates both on and off stage.
“The global economy has become a frightening place,” emphasized Adam Posen, President of the renowned Peterson Institute for International Economics, right at the opening of this year’s forum. In his view, former President Trump’s trade policies are dismantling the multilateral order — with an impact that extends far beyond Trump himself.
“We are marching into fundamentally uncertain times,” Posen warned. Times in which national interests take precedence and the dollar gradually loses its strength. Yet he also pointed to opportunities: the euro could, sooner or later, play a more prominent international role.
📍 According to Posen, the EU must stay the course — setting standards and norms, strengthening the single market, and sustaining the spirit of multilateralism through free trade agreements. Only then can Europe secure its place in a new world order.
Business leaders echoed the call for a stronger single market, but also urged greater speed. Processes must be faster, procedures simpler. “Our bureaucracy makes us look outdated,” criticized Renault CEO Luca de Meo. Meanwhile, Yannick Fierling of the Electrolux Group stressed the need to stimulate consumption: Europe remains the only region in the world where consumer spending has yet to return to pre-COVID levels.
Momentum is also a priority for Henna Virkkunen, Vice-President of the European Commission responsible for technological sovereignty. She highlighted the EU’s start-up strategy, which supports, among others, the 7,000 start-ups currently working on AI across Europe.
📍 Competitiveness and growth ran like a common thread throughout the conference — fueled by innovation and a willingness to take risks. “Change the mindset,” urged one of the founders on the start-up panel. “Accept risk and be ready to invest.”
