The former Italian Prime Minister and President of the Jacques Delors Institute, Enrico Letta, offers a surprising perspective on the potential impact of a new Donald Trump presidency in the United States. In his recent book ‘Des idées nouvelles pour l’Europe’, Letta explores the challenges and opportunities facing the European Union. He argues that what could be perceived as a threat could in fact be a catalyst for European unity. According to Letta in his preface, this book is ‘the story of a great collective exercise, of a long journey during which I have appreciated all the richness and diversity of the European Union as a whole’.
A challenge that calls for action
‘Donald Trump can be frightening. This fear can be beneficial in pushing European leaders to put aside their differences and work together’, says Letta. This bold analysis suggests that, faced with a potentially hostile US administration, European countries could be forced to step up their cooperation.
Towards a European defence
One of the most significant consequences could be the acceleration of the integration of European defence. Letta proposes three fundamental avenues: firstly, the creation of a common defence market. Letta made it clear that this would be a common market, not a single market, because defence cannot be subject to the rules of the free market like other sectors. Secondly, to finance this Europe of defence, he advocates the use of the European Stability Mechanism (ESM). This instrument, created during the financial crisis but little used, has substantial funds at its disposal that are currently without a precise destination. Lastly, it proposes agreements between the main defence industry producing countries to undertake common initiatives aimed at putting an end to the current fragmentation of this industry and thus reducing dependence on American military equipment. Picture: @European Union
Boosting Europe through a stronger single market
Letta stresses the importance of reforming and extending the European single market, with particular emphasis on the telecommunications, energy and financial services sectors. Greater integration in these areas would bring many benefits. It would reduce the current fragmentation, resulting in 27 separate national markets, and stimulate investment in research and innovation. Better use of European savings would also help to finance local businesses, while facilitating the resources needed for the green and digital transitions. This reform would also strengthen Europe’s competitiveness towards the United States and China, while creating jobs and stimulating economic growth.
An opportunity for European unity
Although the possibility of a Trump presidency raises concerns, Letta sees it as an opportunity for Europe to pull itself together. ‘If we act like this, we play into the hands of the Americans, the Chinese and the Indians. Whereas if we get together, we’re stronger, and we’re capable of creating jobs, of having growth at home’, he asserts.
In conclusion, Enrico Letta’s message is clear: faced with the potential adversity represented by a new Trump administration, Europe has the opportunity to transform this challenge into a driving force for unity and progress. It is by putting aside their differences and working together that the countries of Europe will not only be able to face up to this situation, but also emerge stronger on the international stage.