Europe finds itself at both a geopolitical and fiscal crossroads. On the one hand, the European Union is no longer in danger of collapse after a decade of crises. The bloc is beginning to play a stronger global role, with European Commission president Ursula Von Der Leyen endeavoring—and largely succeeding—to lead a “geopolitical commission.” But on the other hand, Europe is facing growing threats and acute challenges to both its security and its economic and governance model.
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