Article published by Stefano Rossi on 13 February 2026 on "La Porta di Vetro"
https://www.laportadivetro.com/post/da-alden-biesen-piccoli-passi-avanti-per-la-nuova-europa
At yesterday's "informal retreat" on February 12, convened by the President of the European Council (the Portuguese Socialist Antonio Costa) at the castle of Alden Biesen in Belgium, all heads of state and government gathered alongside two guests of honor: Enrico Letta and Mario Draghi.
The meeting was specifically designed to take stock of the implementation of the reports written by Letta and Draghi at the request of the European Commission, published respectively just before and just after the 2024 European elections.
The Letta Report (April 2024, "Much More Than a Market") focuses on the Single Market, aiming to modernize it to make it more integrated and competitive. It proposes concrete initiatives such as the creation of a "28th regime" for European companies, a "fifth freedom" dedicated to research, innovation, and education, a strong push to mobilize public and private investment, and a strengthening of the Capital Markets Union to finance the green and digital transitions, European defense, and enlargement.
The Draghi Report (September 2024) focuses instead on European competitiveness and closing the gap with the United States and China. More ambitious and visionary than the first, it calls for massive annual investments (around 4-5% of EU GDP), the completion of the Capital Markets Union, more coordinated industrial policies, regulatory reforms, and integrated energy infrastructure.
The merit of these two reports is that they identified what Europe needs while also considering what Europe is today—its political and institutional balances and the limits of its action. Consequently, they pointed out what can actually be achieved within the current political and institutional framework, clarifying that this is the direction to follow.
Failing to Advance Risks Disintegration
We are indeed at a historical moment where illusions are no longer permitted. While the need for a free and united Europe is strongly felt by citizens, there are simultaneously many obstacles to greater political unity. Failing to move forward today could mean the total disintegration of the European Union, squeezed between aggressive nuclear powers devoted to the most radical and dangerous nationalism—imperialist and warmongering—which already overwhelmed the world in the last century. Paradoxically, this sense of urgency and gravity makes it necessary to act with greater pragmatism in the short term, treating more ambitious visions as medium-to-long-term goals.
Draghi himself frames his report and public interventions of recent months in this way: a comprehensive institutional reform of the Union is necessary to turn it into a federal state; however, since the political prerequisites (and the time) for such an ambitious result do not exist, it becomes essential to move forward where possible and with those who are willing, to save Europe and build the conditions for a future federal constituent step. This is what Draghi has aptly defined as "pragmatic federalism."
As Jürgen Habermas observed in an article featured in these columns:
"At the end of a politically rather favored life, the nevertheless imploring conclusion does not come easily to me: The further political integration of at least the core of the European Union has never been as vital to our survival as it is today. And never so improbable."
Faced with such a grave scenario—a divergence between what is necessary and what is possible—European leaders continue to move with great, often excessive, caution. While this avoids ruptures or divisive steps that could have negative consequences, it is legitimate to ask whether this caution and lack of ambition is a sustainable stance in the chaotic world being imposed upon Europe.
2026: A Turning Point Year
The Europe described by Macron at Davos is slow, but predictable and loyal ("for sure"), and it adopted pragmatic decisions at yesterday's retreat. Leaders agreed to accelerate on three points proposed by Enrico Letta as priorities for the coming months: reducing European and national bureaucratic hurdles that weaken the single market; building the 28th regime to foster the growth of European businesses; completing the savings and investment market to mobilize private capital; building a single energy market to reduce energy costs for households and businesses; and fostering the digital transition by investing in innovative European technologies. All of this comes with a roadmap and tight deadlines, aiming to make 2026 a turning point for these issues.
Some noted the absence of Draghi’s proposals from the post-summit declarations. This suggests that his initiatives are likely still considered too ambitious and divisive by national leaders. For instance, no agreement was reached on common European debt—a topic that has returned to the forefront not only to finance large-scale European public goods (defense, digital, green) but also to create a "European safe asset": a European bond issued permanently, recurrently, and in sufficient volume to be attractive to investors looking to diversify away from the dollar.
This is anathema to Germany, which in the past has almost always been able to block such prospects, considered a political and cultural taboo in the German world. But if moving forward together is preferable, is it acceptable to stand still because not everyone wants to move? When the single currency was created, the United Kingdom—a monetary powerhouse—stayed out. Is it now time to leave Germany behind to save Europe? The governments of Italy, France, and Spain are asking themselves exactly that.