Both are at the heart of the Versailles declaration adopted by EU leaders in response to the new macro and geopolitical environment brought about by Russia’s aggression against Ukraine. [13] The new world order also means that European economies can no longer rely on foreign demand as a “fixer of last resort”.
In my view, this is not the right path to follow. To succeed, Europe as a whole has to become more dynamic, more inventive and more productive. Any attempt to shield one European country from competition by lowering the competitiveness of another would be doomed to fail.