The European Council, which brings together the Heads of State and Government of the European Union, will meet in Budapest on Friday. The informal gathering, held under Hungary’s EU presidency, will take place just two days after the US presidential election and one day after the biggest diplomatic event in Hungary’s history, the European Political Community (EPC) summit—two events that will greatly influence the agenda and priorities of European leaders.
At the time of writing this article, it is already clear that Donald Trump will be the 47th President of the United States, although the exact margin of his victory remains in question. What is evident, however, is that few leaders within the EU are genuinely congratulating the former President on his return to the White House. One notable exception is Prime Minister Viktor Orbán of Hungary, a long-time ally and close friend of Trump, with whom he shares the same views on many issues. ‘A much-needed victory for the world!’ PM Orbán stated in a post on X.
Boosting Competitiveness
Little is known about the agenda for the meeting, as no details have been published on the Council’s website—despite it being customary to release information at least a week prior to the meeting. In an interview with Mandiner, Fidesz MEP Enikő Győri stated that the central topic of the meeting will be the promotion of the EU’s economic competitiveness, along with the adoption of a growth pact.
In this context, Donald Trump’s re-election could be viewed as a boom for the European Union, despite the fact that during his first term, the President pursued a stringent trade policy even with his allies—after all, that is the essence of America First. Trump’s approach of leaving Europe to fend for itself while concentrating on its own economy and domestic issues presents a significant opportunity to advance the strategic autonomy long advocated by many leaders, including French President Emmanuel Macron and Viktor Orbán, particularly in the economic and defence sectors.
In a landmark report published recently, former European Central Bank chief Mario Draghi warned that Europe is at risk of terminal economic decline. To prevent falling further behind the United States and China, he argued, the bloc needs to unify its markets and make substantial investments in industrial capacity. However, efforts to achieve this have thus far been unsuccessful. The widespread fear of a second Trump presidency among most European leaders could present an opportunity to expedite and implement initiatives in this direction.
New Strategy on Ukraine
The outcome of the presidential election is certain to influence the overall mood of the meeting. Among the topics likely to be discussed is the war in Ukraine, which could further divide EU leaders as Trump assumes power. Thus far, Viktor Orbán has been almost alone—aside from Slovak Prime Minister Robert Fico—in taking a pro-peace stance, while other EU leaders have endorsed unconditional support for Ukraine, both financially and militarily. During his campaign Trump repeatedly pledged to resolve the conflict in Ukraine swiftly upon taking office, to bring the parties to the negotiating table, and to reduce aid to Kyiv. With his victory the EU’s strategy towards Ukraine could also shift, and it could amplify pro-peace voices as well.
Speaking at the Turkic Council meeting in Kyrgyzstan on Wednesday, Viktor Orbán stated that a new European strategy will be necessary for Ukraine, as Trump’s victory will leave the EU to support Kyiv on its own. In his speech Orbán remarked that the Republican victory in America ‘raises the question for us European leaders’ of whether Europe will be able to sustain the current military and financial support for Ukraine independently. ‘There are serious doubts about this, so a new European strategy will be needed,’ he highlighted, adding that the initial steps towards this could be taken on Thursday in Budapest at a summit of European leaders, referring to the EPC summit preceding the informal EUCO meeting.
‘Viktor Orbán stated that a new European strategy will be necessary for Ukraine, as Trump’s victory will leave the EU to support Kyiv on its own’
He emphasized that the most pressing issue to be addressed is the fate of the €50 billion loan for Ukraine, which was previously agreed upon by the G7 and is intended to be jointly financed by the EU and the US. Ukrainian President Volodymyr Zelenskyy has also been invited to the meeting.
In recent weeks, it has once again been raised—almost as a matter of routine—that certain member state leaders, particularly from the Baltic region, might boycott the informal meeting. The reason for this is Viktor Orbán’s visit to Georgia early last week, where he acknowledged the results of elections that the majority of the EU considers undemocratic. Among others, former Belgian Liberal MEP Guy Verhofstadt, who is known for his constant attacks on the Hungarian government, urged EU leaders to skip the meeting in Hungary. However, the significance of the situation, coupled with Trump’s victory and the need to adapt the EU’s strategy accordingly, is likely to compel even the most resolute anti-Hungarian leaders to attend the gathering in Budapest.
Similarly to the EPC Summit, the informal EUCO meeting will also be held in the Puskás Arena. According to State Secretary for International Relations and Communications Zoltán Kovács the entire setup will be completely revamped after the EPC Summit.
This includes a specially designed aesthetic and a unique floating terrace, which will serve as a waiting area for delegation leaders and as the location of the customary group photo.
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