European Council President António Costa declared 2026 'the year of European competitiveness', emphasising the significance that the European Council places on the topic. Given the current geopolitical context, Costa put substantial efforts into maintaining the EU leaders' focus on this agenda point. Despite predictions that competitiveness would be sidelined, the European Council followed up on the discussions at the informal competitiveness retreat at Alden Biesen on 12 February, launching a 'One Europe, One Market' agenda to be implemented in the next two years. Two other crucial points were on the table. First, the enactment of the €90 billion loan to Ukraine, on which EU leaders did not convince Hungary to lift its veto on a required implementation law. This time around, leaders did not shy away from speaking bluntly, calling Hungarian Prime Minister Viktor Orbán's behaviour 'disloyal', or even 'a betrayal'. For the sixth time in a row, a separate text was adopted on Ukraine, with the firm support of 25 EU leaders. The second central point was the escalating situation in the Middle East, on which EU leaders displayed unity in condemning Iran's indiscriminate military strikes against countries in the region and in rejecting US President Donald Trump's demands – and threats regarding the future of NATO – to help unblock the Strait of Hormuz. The European Council also discussed – albeit briefly – security and defence, migration, European democratic resilience, the protection of children online, the EU's eastern border regions and the situation at the Dniester river. Back-to-back with the European Council, EU leaders met for a Euro summit in inclusive format to discuss the euro-area economy in light of the war in the Middle East. Source : © European Union, 2026 - EP Read more