Restoring peace on the continent, helping to rebuild economies, and ensuring adequate and affordable energy supplies are Europe’s main goals for the coming year. Now, more than ever, it is necessary to bridge differences to achieve stability and prosperity for citizens.
Restoring peace on the continent, helping to rebuild economies, and ensuring adequate and affordable energy supplies are Europe’s main goals for the year ahead. Now, more than ever, it is necessary to bridge differences to achieve stability and prosperity for citizens.
2023 brings with it many questions that need to be answered.
War, energy, climate and economic crises
It is impossible to say when and how the war in Ukraine will end.
Both Kyiv and Moscow are trapped in a static and mutually intolerable conflict. The price to be paid could be high for all parties involved as the world grapples with the economic and social consequences of Russia’s intervention. Diplomacy must play an active role if peace is to be achieved.
The economic consequences of the war in Ukraine are a second but no less important challenge.
Record energy price hikes, soaring inflation, shortages of raw materials, rising debt levels and borrowing costs are affecting business activity and reducing household purchasing power. These challenges require swift and concerted action to preserve economic stability.
In October, the ECB raised interest rates again and said that further increases are planned to combat rising inflation. Its president, Christine Lagarde, warned of an imminent recession in the eurozone. Now more than ever, coordinated action is needed to ensure affordable energy, preserve economic stability and protect vulnerable households, while maintaining stable public finances.
Tackling the climate crisis remains a top priority for 2023.
The historic agreement reached at COP 15 in Montreal includes concrete steps to reverse the loss of nature. The plan also proposes to increase aid to developing countries.
Europe will have to build on this first step if it wants to change the course of the planet and create jobs and prosperity.
Migrants continue to flee war and poverty. Europe’s migration policy divides European governments. Brussels has announced a plan to better coordinate the EU’s response, a first step towards real and joint reforms.
