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EU Economic Summit Derailed by Middle East Conflict

Financial Times Companies •
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A planned EU summit to boost Europe's economy has been overshadowed by the Middle East war, as leaders grapple with energy price spikes and regional instability. Originally designed to address the continent's economic slump through internal market reforms and competitiveness measures, the Brussels meeting now focuses on managing the fallout from the US-Israeli conflict with Iran.

Dutch Prime Minister Rob Jetten, in his first international interview since taking office, urged fellow leaders to stop complaining and improve the EU's performance. The 38-year-old liberal leader promised to defend but enhance green regulations, maintain an open relationship with the Trump administration, and act as a bridge between major EU powers. Meanwhile, energy costs have become the dominant concern.

Spain's relative insulation from energy price spikes has drawn attention, while DHL Express Europe CEO Mike Parra offered an optimistic counterpoint to the prevailing doom narrative. The shipping executive noted that six EU countries rank among the world's top ten most connected economies, with the euro area manufacturing PMI rising to 50.80 in February. Parra emphasized that Germany's economic recovery could drive broader European growth, stating that if Germany starts rolling, the rest of Europe goes with it.