Shaping a resilient, coherent, and integrated Europe while confronting global transitions and regional challenges is one of the top priorities for the Union. The 4th Delphi Economic Forum Brussels, held on 6 November 2025, carried the overarching theme of bridging the geopolitical, economic and integration dynamics of Southeast Europe and the Eastern Mediterranean with the heart of the EU. It addressed the fact that this region is strategically positioned but has historically been characterized by slower economic convergence, geopolitical complexity, and uneven levels of integration with EU structures. The Forum’s theme suggests that these dynamics are not peripheral to Europe’s future, but central to strengthening European cohesion and long-term integration, writes Stavros Papagianneas, author of Rebranding Europe (2024), Embracing Chaos (2021) and managing director of STP Communications.
The strategic importance that the presidencies of the Council of the European Union by Cyprus (2026) and Greece (2027) will have for the future of Europe was emphasised by the EU Commissioner for Fisheries and Oceans, Costas Kadis, during his speech at the Forum. The two presidencies, of Cyprus and Greece, can play a vital role in promoting the priorities that will remain relevant for the rest of this Commission’s term, he said.
The Commissioner highlighted the geostrategic position of the two countries, which, thanks to their location, can strengthen the EU’s relations with the Eastern Mediterranean. Furthermore, he declared that the top priority of the EC will be the negotiation and conclusion of the next multi-annual financial framework. A more streamlined, flexible and impactful budget that finances EU priorities and strengthens our capacities to act, he added.
Speaking at the panel on European Trade Strategies in a Tariff War Area, Karel Lannoo, CEO of the Centre for European Policy Studies (CEPS) said the recent tariff agreement between the European Union and the United States is very asymmetric. The EU has not insisted that the US is essentially exporting a large number of services and products to Europe, resulting in a services surplus for Washington, and that our overall trade balance with the US is almost imbalanced.
The European Commission President, Ursula von der Leyen, missed an opportunity earlier this year to have a more balanced agreement. For example, in Denmark only the market share of Tesla is 20%. And then the American President says in public that they do not export any cars to Europe. Tesla is massively present in Europe and is a very popular car in our continent. However, the EC did not take advantage of this opportunity. So, the impression that we have given to the rest of the world is that we are a very weak partner. And what we have seen over the last months is that the EU is not taken seriously, he added.
Ian Lesser of the German Marshall Fund of the US explained that the EU can do what its members want it to do. The EU can be very effective at pooling resources. And that makes a big difference. Suppose you look at this from the outside. In that case, there’s an interesting and significant point to consider regarding who the interlocutor is on transatlantic cooperation in the world, as the contrast with the Biden administration is extreme.
The Biden administration took the EU very seriously. It was unusual in that, actually, for any party. This administration does not. This administration would prefer to work bilaterally, even if it means seizing the world through individual political personalities. It is a very different story, he declared.
Margaritis Schinas, former VP of the EC, highlighted the transformation that the EC has undergone over the last few years due to major crises. The Commission, when I joined many years ago, functioned primarily as a regulator, a producer of rules, a manager of a budget, and overseeing the implementation of policies by Member States. These were its core responsibilities. However, from Juncker onwards, the Commission evolved to something different. It became a crisis manager and a task manager, which left behind the traditional image of the Commission as a standards and rules centre. This is the main change over the years, and now it has also become more presidential, he said.
Juncker started it, under very tough circumstances, with the start of the Ukrainian crisis, Maidan, Brexit, jihadi terrorism, the Greek crisis, and the collapse of the external border. All this started with Juncker. Then, Ursula I, I think, was the response to the call by Emmanuel Macron for une Europe qui protège — a Europe that protects, he added.
Guntram Wolff, Professor at the University of Brussels (ULB), observed that as Europe rearms, it spends a lot more resources than it used to spend only a few years ago on defence. We used to spend around 0.3 percent of GDP on armament in NATO Europe. Now that number has moved up to 0.7 percent of GDP. And with the 3.5 percent goal, it’s set to increase significantly further as we move from 2 percent to 3.5 percent. A significant part of that increase will be on armament.
As Europe expands its investments in arms, it spends more on foreign supplies and buys from the United States because it is the world’s largest arms exporter, particularly in high-tech equipment. However, the control over the software involved and its updating are not in the hands of key military powers in Europe, and that is a vulnerability that might be exploited at some stage. Hopefully, European leaders and policymakers in that space will start developing their own strategy for gradually reducing that kind of dependency. It is a big investment, but ultimately it is needed, he added.
Participating in a discussion on Powering Europe Through Cooperation: Energy Security, Circular Future & the East Mediterranean, Geoffrey Pyatt, former US Assistant Secretary of State for Energy Resources, indicated that an energy battle is underway due to increasing demand. The struggle for energy stability, for energy security is becoming increasingly important. The primary point of tension within the region is Russia’s continued desire to use its energy resources as a source of leverage against Europe. That has largely failed, and in large part due to the leadership of American energy producers who have come to the fore.
The East Med (Eastern Mediterranean pipeline) is essential due to the connectivity that’s occurring there and the leading role of American companies. You have both Exxon and Chevron strongly engaged. Here in Greece, in Cyprus, Chevron’s leading role in Israel. And Israeli gas going into both Egypt and Jordan, although nobody likes to talk about it. I am an energy optimist and an optimist about the geopolitics of energy. And I also think this is a powerful stabiliser and a positive factor in a transatlantic relationship that has faced some turbulence, he added.
Theodore Tzouros, Executive General Manager, Chief Corporate and Investment Banking of the Piraeus Bank referred to Greece’s potential to emerge as a regional natural gas hub and the significant progress that has been made in the country’s energy independence through the development of renewable energy. Greece’s energy transition has made great progress over the last five years. Despite the significant increase in renewable energy sources (RES) that we expect in the coming years, as a result of the storage units, the challenges in the energy market remain significant, he said.
Kostas Salvaras, PMI VP Southeast Europe Cluster Area, referring to public-private collaboration in the EU, emphasised that there is the impression that Europe forgets or does not consider as part of the effort for (industrial) sovereignty, traditional industries and companies that have been in mega transformations. In fact, they play a significant role in the economies of the countries where they operate. We are an important employer, a leading exporter, and one of the largest taxpayers in Europe. We support the entire value chain, from agriculture to retail and small and medium-sized enterprises, he observed.
The Forum successfully addressed key political, economic, and foreign policy challenges that the region faces today, and their links to EU politics. Topics discussed in the different panels and workshops were: European foreign policy in a world of conflict; Securing critical raw materials for the green and digital transition; European trade strategies in a tariff-war era; Energy security, circular future and the East Mediterranean; EU enlargement; Investment, innovation and EU convergence. Distinguished high-level speakers from the EU institutions, politicians, academics, researchers and top entrepreneurs and business leaders shared their visions.
Bridging Southeast Europe and the Eastern Mediterranean with the core of the EU is not an external extension but a consolidation of the European project. It responds directly to challenges of strategic autonomy, economic transformation, and political stability. This approach strengthens the internal resilience of the EU while shaping a more unified and capable Europe. And as Jean Monnet said : There is no future for the people of Europe other than in Union.
