COUNCIL OF THE EUROPEAN UNION,EUROGROUP,update

 

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Meetings Tuesday, 10 March 2026

● Council of the EU   10/03/2026 13:33 | Meetings | Main results - Economic and Financial Affairs Council, 10 March 2026   Ministers exchanged views on the market integration and supervision package – a key element of the savings and investments union. The discussion showed broad support for accelerated work on the package at technical level, as proposed by the Cyprus presidency. The Council also adopted a recommendation regarding the medium-term fiscal-structural plan of Ireland.   View meeting page

● Eurogroup

09/03/2026 21:22 | Meetings | Main results - Eurogroup, 9 March 2026   The Eurogroup discussed macroeconomic developments in the euro area and adopted a statement on the Belgian draft budgetary plan for 2026. Ministers also exchanged views on recent developments in digital finance, including tokenisation and stablecoins. They further discussed energy prices and their implications for the euro area economy in the context of heightened geopolitical instability. Eurogroup President Pierrakakis also presented the content of his customary letter to the Euro Summit President.    View meeting page ● Eurogroup   09/03/2026 21:14 | Statements and remarks | Remarks by Kyriakos Pierrakakis following the Eurogroup meeting of 9 March 2026   We started today’s meeting with a discussion on macroeconomic developments. This discussion took place at a time of significant turbulence. The situation in the Middle East is deeply concerning. Besides the economic turmoil, we are witnessing a tragic situation with broad geopolitical repercussions. In this time of crisis, the EU stands in solidarity with its friends in the region and the people affected. 2025 was a positive year for the European economy, with higher-than-expected growth, supported by stabilising inflation, stronger domestic demand, robust labour markets and favourable financing conditions. Today, however, we find ourselves in a quite different environment. We are closely monitoring market reactions to developments in the Middle East - and this is what dominates international headlines. The European economy has the capacity and the resilience to absorb temporary shocks. But at the same time, we must be prepared for a more prolonged period of instability, with potential disruptions to shipping, increases in energy prices and implications for inflation. Energy is at the centre of our attention. Instability in the Middle East and the ongoing war in Ukraine remind us how vulnerable energy markets are and how exposed our economies might remain to external shocks. We are seeing upward pressure on energy prices, and we discussed the types of measures that member states are considering, along with the need to remain coordinated in action while monitoring the situation on the ground. This is pertinent for the protection of our citizens and for the protection of our businesses. We have faced disruptions in imported energy supply before, and this will certainly not be the last time. However, energy grids and our overall energy architecture are built over longer time horizons and require a clear strategic vision, as well as a stable and credible policy and regulatory framework. For this reason, alongside the discussion on immediate developments in energy markets, we also examined the structural aspects of energy in Europe. We focused on accelerating the energy transition, further developing and interconnecting European energy grids, ensuring well-functioning and integrated energy markets, and supporting investment in energy infrastructure, energy efficiency and energy security. In this context, we benefited from useful contributions from the European Commission and from two external guests, Christian Zinglersen and Damian Cortinas. We also heard the perspective of the European Investment Bank from its President, Nadia Calviño. At the same time, the current situation highlights something which in my view is much broader: Europe cannot remain in a constant mode of crisis management. Europe’s strategy must go beyond the crises of the moment. We have this duality in the nature of our approach, because on the one hand, we're trying to resolve the outstanding issues of the past; and on the other hand, we're trying to reply to the emerging crisis and the emerging challenges of tomorrow. Recent developments reinforce our conviction that we must move faster to strengthen our economy along with Europe’s strategic autonomy. Important steps have already been taken in recent years, but what is now required are leaps forward, along with more decisive action. Crises do not change our objective. They accelerate the need to achieve it. The Eurogroup also addressed fiscal issues and endorsed the Eurogroup statement on the Belgian draft budgetary plan for 2026. We welcome the submission of this plan and agree with the Commission assessment that this plan is considered compliant with the net expenditure path recommended by the Council. Today we furthermore held the first session in our new digital finance workstream. As I outlined in the speech I delivered at the EIB Forum in Luxembourg last week, digital finance is a structural transformation in how capital is raised, allocated, settled and supervised. It's not merely technical, it's absolutely strategic. Distributed ledger technologies and tokenisation have the potential to reduce frictions and costs in payments and capital markets and help to connect companies to wider investor bases. In other words, we need to get this right. And if we do get this right, digital finance can 'compress the distance' – between savers and innovators, between small firms and deep pools of capital, and between national and EU markets. To get it right, we also need to consider the associated risks as policymakers. This is why we intend to tackle all these aspects in a series of sessions in this workstream, taking place in the coming Eurogroup meetings. Today, we benefitted from a presentation from an external guest from the industry, Jan-Oliver Sell of Qivalis. We will return to the matter regularly over the next months. We continued with a point on the upcoming Euro Summit on 19 March. I informed Ministers about the main messages of the letter which I will be sending to President Costa outlining the work of the Eurogroup over the past months on our main workstreams. This is the customary procedure. The letter will focus on macroeconomic developments, imbalances and the international role of the euro. Needless to say, digital finance is a core element of capacity building that international role, and this is why we're putting it at the epicentre of our approach. It will elaborate on two workstreams that were identified as key in our discussions on the international role of the euro: the savings and investment union and digital finance, as I just mentioned. The letter will also cover fiscal policy and competitiveness. Finally, we received a very useful update from my colleague, Carlos Cuerpo Caballero, the Spanish Minister of Economy, Trade and Business, on the ongoing work under the so-called competitiveness lab. These Member State-led initiatives are an important complement of EU efforts to develop our capital markets under the savings and investments union. Today’s debrief ensured that all countries are in the loop of that initiative, and interested member states have the opportunity to join. I hope that we can soon take stock of further progress.   Visit the website

● European Council

10/03/2026 10:42 | Speech | Speech by President António Costa at the EU Ambassadors Conference 2026   It is an honour to be back at this conference and share some reflections with you.  Over the past year, I have had the pleasure to meet with many of you in your postings. I wish to begin by commending your professionalism. You are the face of European Union abroad. And you represent our Union with dedication. Thank you very much for your commitment.  I would also like to commend you, dear Kaja [Kallas], for your close cooperation with the European Council, together with the European Commission, in advancing the European Union’s interests around the globe. It is vital that the European Union speaks with one voice to defend its values and its interests. We must pursue a multidimensional foreign policy, actively engaging with the international community to uphold the principles enshrined in the United Nations Charter and international law. It is in our interest to ensure that the world remains rules-based and cooperative. It is in our interest to avoid further world fragmentation. This is the best way to help Ukraine achieve a just and lasting peace. It is essential for Europe’s security and prosperity. We all know how difficult it is to build consensus on a common foreign policy when working with 27 different national foreign policies and geographical perspectives. Yet – it is my firm conviction – this diversity is the richness of our Union. It provides a 360-degree perspective on the world that no other actor possesses. Looking at the map, it is easy to see: Africa, the Americas, the Middle East, Asia, and the Arctic are all our neighbours, sharing land and maritime borders with Europe. With them we have historical and cultural bonds, economic and diplomatic ties. In times of polarisation and fragmentation in the world, Europe’s global vision is a true strategic asset. Dear Ambassadors, This multipolar world requires multilateral solutions. Not spheres of influence, where power politics replace international law. We know the new reality: a reality in which Russia violates peace, China disrupts trade, and the United States challenges the international rules-based order. In this new reality, what should be the mission of the European Union? First, we must defend the rules-based international order. We must uphold the principles enshrined in the United Nations Charter, as outlined in our Treaties. Violations of international law must not be accepted – whether in Ukraine, Greenland, Latin America, Africa, in Gaza or the Middle East. Human rights violations must not be tolerated – whether in Iran, in Sudan, or in Afghanistan.  The war in the Middle East is of the utmost concern. Iran is for sure responsible for the root causes of this situation. But unilateralism can never be the path forward. Attacks by Iran and its proxies, like Hezbollah, against its neighbours – including Cyprus, a member state of the European Union – must stop. The rapid response from Greece, France, Italy and Spain, sending military forces to protect Cyprus, is a powerful example of European autonomy and steadfast solidarity. Yesterday, in a video conference with our partners in Middle East and the Gulf region, I expressed to them our full solidarity and support. The European Union calls on all parties to exercise maximum restraint and return to the negotiating table. The European Union stands with the long-suffering people of Iran. We support their right to live in peace and determine their own future. We believe their human rights and freedoms must be fully respected. But freedom and human rights cannot be achieved through bombs. Only international law upholds them. Protecting civilians, ensuring nuclear safety and respecting international law is crucial. We must avoid further escalation. Such a path threatens the Middle East, Europe, and beyond. The consequences are severe, including in the economic sphere, as demonstrated by the blockade of the Strait of Hormuz. So far, there is only one winner in this war – Russia. It steadily undermines Ukraine’s position by flouting international law. It gains new resources to finance its war against Ukraine as energy prices rise. It profits from the diversion of military capabilities that could otherwise have been sent to support Ukraine. And it benefits from the reduced attention to the Ukrainian front as the conflict in the Middle East takes centre stage. We are now entering in the fifth year of the Russia’s war of aggression against Ukraine, a gross violation of the United Nations Charter and a game-changer for the European Union. Since the very first day, the European Union has been unwavering in its support to Ukraine on all fronts: financially, politically, diplomatically, in terms of security and reconstruction. I have been in Ukraine four times – in fact at the start of my term I was in Ukraine – since the beginning of my mandate to reinforce our unwavering support. In December, the European Council approved a €90 billion common loan, backed by the EU’s budget, to cover Ukraine’s financial needs over the next two years. And we will deliver on this commitment taken by all the Leaders. We must continue to put pressure on Russia to negotiate a just and lasting peace that is acceptable to Ukraine and that does not undermine Europe’s security. I hope that tomorrow we will approve the rollover of current sanctions and approve the next package. Second, we must reinforce multilateral cooperation. We will continue to be a leading supporter of the United Nations, and the reforms of the Secretary-General, António Guterres, with the UN80 reform initiative.  The United Nations must be reformed but it cannot be replaced. It must remain the cornerstone of the multilateral system. The only forum with universal legitimacy and the power capable to sustain effective multilateral cooperation. As the top donor of international aid in the world – as well as to the UN main agencies – we will continue to take the lead in global solidarity, especially in these times when the UN system is facing major financial constraints. We remain committed to the Sustainable Development Goals and the Pact for the Future. To the Paris Agreement and its commitments to reduce emissions by 55% by 2030 and to achieve climate neutrality by 2050. We have also agreed to an ambitious intermediate goal of reducing emissions by 90% by 2040. We are dedicated to ocean protection and the implementation of the High Seas Treaty, to safeguard the biodiversity of areas beyond national jurisdiction. And to the reform of the international financial architecture for debt management, along the path set by the ‘Seville Commitment’. Third, we must continue expanding our global network of partners. The European Union is a reliable and predictable partner. In today’s unpredictable world, this is a major strategic asset. That is why our partners are reaching out to us. We have deepened even further cooperation with like-minded democracies, like the United Kingdom, Norway, Iceland, Canada, Japan, Australia. We have built the world's most extensive network of trade agreements, covering 80 partners. And we are in the process of negotiating or ratifying agreements with a further 27 countries – among them with Mexico, Australia, Indonesia, Thailand, Philippines, and United Arab Emirates.  Recently, the trade agreements with Mercosur and India were game changers, covering 32 countries and almost 3 billion citizens. They send a powerful message to the world: instead of tariffs, the European Union offers partnerships; instead of spheres of influence we are building spheres of shared prosperity. Only a solid network of partners enhances our global influence and helps stabilise the international rules-based order. We have seen this in action. In 2025, I have chaired 12 international summits, and together with President von der Leyen we met with countries and organisations representing more than 60% of the United Nations family. With the Western Balkans, Central Asian countries, the United Kingdom, Canada, Moldova, Japan, China, Egypt, the Latin America and Caribbean Community and the African Union. We held summits with Brazil, South Africa, China, and India – all the BRICS excluding Russia. This proves that both North and South are plural and can share long-term commitments to pursue common goals. We already started 2026 with the first-ever summit with Jordan, along with visits to Syria, Lebanon and Vietnam. Of course, none of which would be possible without your work on the ground to support this. We must keep working with the same energy and determination. Fourth, we must prepare the next enlargement. The European Union is a project of reconciliation and peace. These values are closely linked to enlargement, making it the best geostrategic investment we can make for our future. Since the first day of my mandate, I have made enlargement one of my top priorities. As Europe’s most successful grand strategy, it strengthens democracy and the rule of law. It expands our space of shared values, shared prosperity, and shared responsibility. Ukraine’s application for membership has generated a new dynamism, a new momentum, to the European Union’s accession process. This momentum is not limited to Ukraine alone but also extends to Moldova and all six of our Western Balkan partners. Their future lies within the European Union, with accession based on a merit-based approach that ensures the highest standards for all. To make enlargement a reality in the coming years, we must take decisive steps. We should seize this momentum. We must respect the merit basis but feel the sense of urgency.  The international system is changing dramatically. A world in which power politics are back in play. The European Union is responding to these changes by becoming more autonomous and more resilient.  Just as we made 2025 the year of European defence, we must make 2026 the year of European competitiveness. Both are crucial pillars of Europe’s sovereignty.  The European Union's firm and effective response to United States threats against Greenland serves as an example of how our unity strengthens our global position. I recognise how challenging it can sometimes be to reach a timely, united position. However, we should have learned valuable lessons. Like the need to respond quickly to urgent situations, as we saw with Gaza. Like keeping up the momentum on our international commitments, as seen with the EU-Mercosur agreement, crucial to safeguard Europe’s global credibility. Because in times like these, values and trust are more critical than ever. They are the foundation of our influence and authority. This is what makes our Union powerful. This is what we must continue to stand for.  Thank you.   Visit the website

● General Secretariat of the Council

Think Tank reports on Russia’s war of aggression against Ukraine   Several lessons to draw from the Ukrainian battlefield: after four years of war, Ukraine has held its line and now Europe must secure the future; Europe needs a military operations centre in Ukraine; reintegration of Ukrainians and the related cultural-identity and socio-economic aspects of return and the war in Ukraine as a new founding myth for Russian national identity are some of the topics discussed in the present update.   Read full post

● Council of the EU

09/03/2026 18:41 | Meetings | Main results - Employment, Social Policy, Health and Consumer Affairs Council (Social policy), 9 March 2026   EU employment and social affairs ministers approved conclusions on investing in children and exchanged views on breaking the poverty cycle. Also on the agenda were the European Semester cycle, a recommendation on human capital, and the use of AI to strengthen quality jobs and workers’ rights. Over lunch, the Council discussed housing solutions in a changing demographic landscape.   View meeting page ● Council of the EU   09/03/2026 15:31 | Press release | Tackling the skills shortage: Council adopts recommendation on human capital   The Council has adopted a recommendation on human capital that will help member states tackle labour and skills shortages across the EU, with a view to boosting competitiveness and resilience. “Human capital is Europe’s greatest asset. With persistent labour and skills shortages affecting strategic sectors from health to digital technologies, today’s recommendation marks a decisive step to strengthen our competitiveness, resilience and social cohesion by investing more effectively in people’s knowledge, skills and potential.” — Marinos Moushouttas, Minister of Labour, Republic of Cyprus Why is a recommendation needed? Human capital – the knowledge, skills, experience, education and training that help an individual or team achieve their professional or personal goals – is key to Europe’s competitive strength and economic resilience. The EU is facing a persistent shortage of workers and skills, with the most widespread shortages in areas of strategic importance such as health, farming, ICT, civil engineering and education. Advances in technology and the green and digital transitions are expected to further increase the demand for new skills and exacerbate existing shortages. Likewise, demographic challenges – particularly an ageing population – are likely to place additional pressure on labour markets. A shortage of skilled workers can also hamper investment and innovation: in 2024, 77% of companies in the EU said that skills shortages were a barrier to long-term investment. Addressing skills shortages In its recommendation, the Council calls on member states to address skills shortages in sectors that are strategically important to the EU’s competitiveness and resilience, including digital technologies, health, farming and defence. Recognising that four in five adults acquire skills through job-related training, the Council also encourages the development of partnerships between education and training providers, businesses, and other key stakeholders such as public employment services. Strengthening basic skills The Council acknowledges that many learners, and particularly those from a disadvantaged background, face challenges in acquiring the basic skills that enable them to actively participate in the labour market. It therefore calls on EU countries to boost skills acquisition across all ages and levels of education and training, with a particular focus on disadvantaged groups, including persons with disabilities. In particular, it recommends ensuring fair access to high-quality early childhood education and care, and increasing the attractiveness of the teaching profession. Vocational education and training (VET) Vocational programmes and apprenticeships are often perceived as unattractive, despite high employment levels for graduates (in 2024, 80% of VET graduates were in employment). The Council therefore encourages member states to boost the attractiveness of VET and apprenticeships, particularly for underrepresented groups such as women. STEM programmes The demand for science, technology, engineering and mathematics (STEM) professionals is growing, driven by technological developments including the rise of AI.  Although STEM subjects remain popular with students, around half of EU countries reported a decline in enrolment levels between 2015 and 2023. The Council calls on member states to increase the capacity, relevance and attractiveness of university and higher-level vocational programmes in STEM, with a particular focus on female students. Investing in education The Council recognises that public finances alone are insufficient to bridge the skills gap, particularly when it comes to helping adults upskill and reskill. It its recommendation, it calls for an approach to investment in education, training and skills that combines public spending with private investment and makes use of EU initiatives such as the European Social Fund Plus and InvestEU. It also encourages member states to monitor and evaluate these investments at local, regional and national level to ensure that spending is cost-effective and based on evidence. Skills intelligence Accessible, easily understandable, targeted and up-to-date skills intelligence is essential for effective and future-proof training policies, as it allows member states to forecast future demand for a given occupation. The Council’s recommendation encourages member states to develop and apply methodologies for the use of big data and AI to provide better and timelier skills intelligence, and to use this intelligence more regularly in areas such as careers guidance and curriculum design. Background This is the first time that the Council has adopted a recommendation on human capital as a tool within the European Semester to address labour and skills shortages. It complements the employment guidelines that are adopted yearly. The overarching aim of the Semester autumn package is boosting the EU’s competitiveness, which requires a skilled workforce.The recommendation was initially announced by the Commission in March 2025 as part of the Union of Skills, and was included in the European Semester Autumn Package that was published in November 2025. Council recommendation on human capital in the European Union The Union of Skills (Commission communication) The European Semester explained (background information)   Visit the website ● European Council   09/03/2026 14:38 | Statements and remarks | Joint statement by President Costa and President von der Leyen after the video conference with Leaders from Middle East countries on the war in Iran   Today, President Costa and President von der Leyen exchanged views with the leaders of Jordan, Egypt, Bahrain, Lebanon, Syria, Türkiye, Armenia, Iraq, Qatar, Kuwait, United Arab Emirates, Saudi Arabia and Oman on the latest developments regarding the war in Iran, including the unacceptable attacks against the countries of the region and the impact on energy security. This video conference is the continued manifestation of solidarity and diplomatic outreach building on the contacts made by the Presidents since the beginning of this crisis, and on previous efforts of the High Representative Kaja Kallas. Once again, they condemned the indiscriminate attacks by Iran in the strongest terms and conveyed their full solidarity with the people of the region. The Presidents also thanked the Leaders of the region for their assistance and support in repatriating tens of thousands of European citizens who were stranded in their countries when the war started. The European Union is a long-standing, reliable partner for the region in these difficult moments and is ready to contribute in every possible way to help deescalate the situation and facilitate the return to the negotiating table. Although the international rules-based order is under stress, we firmly believe that dialogue and diplomacy is the only viable way forward. The European Union has been consistent in its position on Iran’s activities and has repeatedly called on their leadership to end its nuclear program and curb its ballistic missile program. The European Union has also condemned the unacceptable repression and violence perpetrated by the Iranian regime against its own citizens. The Presidents reaffirmed their commitment to regional stability and called for the protection of civilians and full respect for international law, international humanitarian law and the obligation to abide by the principles of the United Nations Charter. President Costa and President von der Leyen recalled the importance of its maritime defensive operations ASPIDES and ATALANTA aimed at protecting critical waterways and preventing any disruption to vital supply chains. They also expressed their openness to further tailor and enhance these operations in order to better respond to the situation. The Presidents expressed deep concern about the impact of the regional crisis on Lebanon and its severe impact on civilians, triggering large scale displacement. They underscored the need for the protection of civilians, and the respect of the sovereignty and territorial integrity of Lebanon. In this context, President von der Leyen announced a mobilisation of ReliefEu stocks to support some 130 000 persons in Lebanon with a first flight planned for tomorrow. The Leaders of the region shared their analysis of the situation in their countries and the broader region. They also discussed the impact of attacks on energy infrastructure and the closure of the Strait of Hormuz on global energy security, and explored avenues to strengthen the cooperation with Middle East partners to mitigate these risks. They also agreed to remain in close contact to assess any further developments and work together in the pursuit of peace. The European Union will work with the countries of the region to bring peace and stability back to the Middle East and the Gulf region, reaffirming its enduring commitment to partnership, security, and prosperity in the region.   Visit the website ● Council of the EU   09/03/2026 11:00 | Press release | EPPO: Council confirms Andrés Ritter as the new European chief prosecutor   The Council today agreed to the appointment of Andrés Ritter as the new European chief prosecutor to the European Public Prosecutor's Office (EPPO) with effect from 1 November 2026. Andrés Ritter joined Germany’s prosecution service in 1995 and headed various prosecution offices. Ritter has been deputy European chief prosecutor since 2020. The EPPO is an independent body of the EU responsible for investigating, prosecuting and bringing crimes against the financial interests of the Union (e.g. fraud, corruption, cross-border  VAT fraud above €10 million) to judgment. Role and mandate The European chief prosecutor is the head of the EPPO, organises its work and represents the Office in contacts with EU institutions, member states and third countries. The European chief prosecutor is appointed for a non-renewable term of seven years. The mandate of the current EPPO chief, Laura Codruța Kövesi, expires on 30 October 2026. European prosecutors, together with the European chief prosecutor, form the EPPO College. They supervise investigations and prosecutions. The Council appoints a European prosecutor for each of the 24 participating member states. Next steps The European chief prosecutor is appointed by common agreement between the Council and the EP. The appointment must now also be confirmed by the European Parliament. Background The EPPO is responsible for investigating and prosecuting crimes affecting the financial interests of the EU before the competent courts of the member states. The first-ever European chief prosecutor, Laura Codruța Kövesi, was appointed in 2019. By the end of 2025, EPPO had 3 602 active investigations, for a total estimated damage of over €67.2 billion to the EU and national budgets. Currently 24 member states participate in the EPPO: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Estonia, Finland, France, Germany, Greece, Italy, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Poland, Portugal, Romania, Slovenia, Slovakia, Spain and Sweden. European Public Prosecutor's Office (background information) ● Council of the EU   09/03/2026 10:58 | Press release | Investing in the EU’s future: Council calls for greater efforts to combat child poverty   The Council is calling on the Commission and EU countries to provide greater support to children, in order to increase their well-being and combat poverty and social exclusion. In conclusions approved today, the Council draws attention to the potential long-term implications of child poverty, and calls for adequate funding for policies that address child poverty. “Breaking the cycle of disadvantage must be a collective European effort. Poverty in childhood too often leads to exclusion in adulthood, with profound human and economic costs. By ensuring adequate funding and targeted policies, we can give every child a fair start and strengthen our Union for generations to come.” — Clea Hadjistephanou Papaellina, Deputy Minister of Social Welfare of Cyprus Boosting the EU’s competitiveness The Council’s conclusions note that promoting child well-being can strengthen economic resilience. According to Mario Draghi’s report on the future of EU competitiveness, Europe’s long-term prosperity depends, among other things, on fairness and inclusion. Furthermore, the transmission of disadvantage from childhood to adulthood leads to an estimated loss of 3.4% of GDP every year.  Investing in children, the Council argues, is therefore a strategic investment in the EU’s future competitiveness, stability and cohesion. The conclusions call on EU countries and the Commission to ensure adequate funding for projects that address child poverty. Targets for poverty reduction The European Pillar of Social Rights Action Plan, published in 2021, sets an EU-level objective whereby five million fewer children should be at risk of poverty or social exclusion by 2030. The conclusions call on EU countries to accelerate progress towards this goal, with support from the Commission. They also highlight other initiatives that can help combat child poverty, including implementing the Council’s recommendations on adequate minimum income and the European Child Guarantee. Early childhood education and care The conclusions stress the importance of early childhood education and care in enabling all children to achieve higher socio-economic outcomes. They therefore call on the Commission to continue supporting member states in investing in accessible, inclusive, affordable and high-quality early childhood services, focusing in particular on the most vulnerable children. Online safety In addition to poverty, the conclusions also call on the Commission to enhance child well-being by promoting a safe, inclusive and age-appropriate digital environment. In particular, the Commission should emphasise the importance of protecting children from online violence, exploitation, and illegal and harmful content, while also fostering greater digital and media literacy. The Council also notes that harmful online content may affect girls and boys in different ways. Background Child well-being is a cross-cutting priority for the EU, as reflected, inter alia, in the Charter of Fundamental Rights, the European Pillar of Social Rights, and the 2022 Council recommendation on early childhood education and care. The well-being of children is a key priority of the Cyprus presidency, in particular tackling poverty and promoting participation in accessible, affordable and high-quality early childhood education and care, in line with the Barcelona targets. A high-level conference dedicated to child well-being is scheduled to take place in Cyprus in May 2026. Investing in children: strengthening child well-being, social inclusion and combating child poverty in the European Union (Council conclusions) European Pillar of Social Rights Action Plan   Visit the website ● European Council   06/03/2026 22:56 | Speech | Keynote speech by President António Costa at the Matthiae Mahl event   It is an honour to speak to you today at this prestigious Matthiae Mahl Ceremony in Hamburg. It is also a privilege to share the stage with the Chancellor Merkel, a leader with whom I had the pleasure of working and learning. The six years during which we sat side by side in the European Council were truly memorable for me, as I witnessed her commitment and vision in defending a stronger, more humanistic, and more prosperous European Union. Vielen Dank liebe Angela. Last year, as part of my tour of regions, I had the opportunity to visit Hamburg in all its splendour. Its impressive port stands as a leading commercial hub open to the world, complemented by thriving industries, knowledge and innovation centres, and a flourishing start-up scene. A city reborn from the ashes of the Second World War, with a resilient history that mirrors the very soul of Europe – open, vibrant, and a bridge to the world. As we gather to celebrate the spirit of unity and solidarity, we must reflect on the pivotal role that cities – before nations and states - have played in European history. Rome and Athens laid the foundations for Western thought, democracy, and governance. The Hanseatic League, formed in the 12th century, with Hamburg at its core, enabled free exchange of goods, knowledge, and ideas. Lisbon and Seville as leading Atlantic gateways in the 16th century, linked Europe with newly discovered worlds. Florence, Venice, Milan flourishing in the Renaissance, as true vessels of humanism, scientific discovery, and artistic expression.  Europe was forged by this network of cities, which grew into nations and later into independent states, making the European Union a unique reality in its diversity. Not a state or a federation, but a project of voluntarily shared sovereignty to promote peace and prosperity. A Union where every level of governance plays a crucial role. It is this uniqueness that makes our Union attractive to many countries that wish to join us, and to many others that seek to maintain closer ties. Our success lies not only in what we have achieved, but in our shared ability to shape the next chapter of our history. At the heart of this European architecture lies our common commitment to democracy, the rule of law, and human dignity. In today's geopolitical context, these values are more important than ever. The European Union will always defend an international rules-based order anchored in international law, multilateralism, and the principles enshrined in the United Nations Charter. The alternative for these rules and international order is simply the chaos and violence. We cannot accept violations of international law - whether in Ukraine, Greenland, Latin America, Africa, or Gaza. We cannot accept violations of human rights - whether in Iran, in Sudan, or in Afghanistan. The war in the Middle East is of the utmost concern. Iran is responsible for the root causes of this situation. But unilateralism can never be the path forward. And the retaliation by Iran and its proxies across the region, with attacks against many of its neighbours, including Cyprus, a member state of the European Union, undermines international peace and security. The rapid response from Greece, France, Italy and Spain, sending military forces to protect Cyprus, is a powerful example of European autonomy and steadfast solidarity. The European Union urges all parties to show maximum restraint. The European Union stands with the long-suffering people of Iran. We believe their human rights and freedoms must be fully respected. We support their right to live in peace and determine their own future. Protecting civilians, ensuring nuclear safety and respecting international law is crucial. We must avoid further escalation. Such a path threatens the Middle East, Europe, and beyond. The consequences are severe, also in the economic sphere, as demonstrated by the blockade of the Strait of Hormuz. The only lasting, sustainable, resolution is a diplomatic one. Distinguished guests, The European Union is a project of reconciliation and peace. But peace without defence is an illusion. On 24 February 2022, Europe changed forever. As Thomas Mann once said: “war is only a cowardly escape from the problems of peace”. He might be right, and the problem is that this cowardice persists to this day. With Russia’s large-scale invasion of Ukraine, war has returned to our continent, and, once again, Russian imperialism has threatened our common security. The following month, during the Versailles Summit in March 2022, the European Union made a clear commitment to take greater responsibility for its defence. Since then, the European Union has acted with a determination that many doubted could exist on our continent in times of war. Europe is particularly grateful to Germany for its courage and leadership in implementing both a Zeitenwende and an energy decoupling from Russia. In 2024, the European Union adopted a strategic agenda focused on three priorities: defence, competitiveness and our engagement in the world. Last year, the priority was to create the building blocks of the Europe of defence. Defence spending in 2025 was up almost 80% compared with before the war in Ukraine. The European Union and its member states are mobilizing up to €800 billion by 2028. This marks the greatest surge in defence investment in the history of the European Union. Not in opposition to NATO, but to strengthen the transatlantic alliance. We are now working tirelessly to deliver: to invest better, coordinate more, improve efficiency, strengthen our European defence industry and deploy new financial instruments. But long-term security in Europe cannot be upheld through increased investment and cooperation in defence alone. It must be achieved through a just and lasting peace in Ukraine. Because Ukraine’s security is Europe’s security. Our response has been clear since the first day of Russia’s war of aggression. To provide full support to Ukraine – politically, diplomatically, financially, in its security, reconstruction, and on its path to the European Union membership. Because enlargement to Ukraine - as well as to Moldova and the Western Balkans - is the best geopolitical investment the European Union can make for peace and prosperity. Although, defence investment is impossible without economic prosperity. Just as we made 2025 the year of European Defence, we must make 2026 the year of European competitiveness. Both are crucial pillars of Europe’s sovereignty. Last month, I convened European Union Leaders in Alden Biesen, north of Brussels, to create new momentum around competitiveness. The sense of urgency was clear – we must deliver on concrete measures, with clear timelines, at our next European Council meeting in two weeks. We need a European Union that leads in innovation, in green and cutting-edge technologies, and digital transformation. For our ability to move autonomously, more confident, stronger, and faster. At the core of this more sovereign path lies our crown jewel: the single market. Just as we moved from the common to the single market in 1992, we must now complete this journey by creating ‘One Market for One Europe’. Making it easier to bring businesses, services and investments across borders. Reducing red tape at all levels, while maintaining our policy ambitions. Combining affordable, secure and sustainable energy sources, in a truly integrated European energy market. Strengthening our digital sovereignty. Defending our standards and regulatory independence against tech oligarchs. Protecting our children from deregulated and unconstrained social media. Mapping and reducing our economic dependencies in strategic economic sectors. Defending ourselves from economic coercion, wherever it may come from. Promoting a savings and Investment Union that channels savings into productive investments within the European Union. We must also take pride in the European Union as a solid and reliable trade powerhouse. The European Union has built the most extensive network of trade agreements, covering 80 countries. And we are in the process of adopting or ratifying agreements with a further 27 countries. Trade deals are global rulebooks. Tariffs are taxes on citizens and companies. The recent agreements with Mercosur and India are two impressive game-changers. Both reinforce the European Union’s role as a reliable and predictable partner, and as a stabiliser of the international economy. These agreements send a powerful message to the world. Instead of tariffs, the European Union offers partnerships. Instead of spheres of influence, we are creating spheres of shared prosperity. And prosperity to be delivered for our citizens - on quality jobs, wages, public services and housing affordability. Strong welfare states, affordable housing and high-quality jobs are not obstacles to competitiveness — they are its foundation. A social Europe is part of our DNA, as a social market economy. Distinguished guests, We live in a multipolar world. But that doesn’t mean that we return to old divisions, blocs, or spheres of influence. The European Union is not a tool in someone else’s game. The European Union must be its own player. We need to chart our own course, based on cooperation, not confrontation. Sovereignty is not isolation. It’s about alliances, about building bridges, about finding partners who share our values. We have seen this in action. Last year, together with Ursula von der Leyen, I have co-chaired 12 international summits with countries and organisations representing more than 60% of the United Nations family. We held summits with Brazil, South Africa, China, and India - all the BRICS excluding Russia. We have forged new partnerships across the globe - in Asia, Africa, or the Americas. We have deepened cooperation with like-minded democracies - the United Kingdom, Norway, Iceland, Canada, Australia and New Zealand and Japan. This is how we assert our sovereignty in a connected world: through engagement, not retreat. Through multilateralism, not coercion or bullying. Here, in Hamburg, an ancient European gateway open to the world, we are reminded of the enduring strength of our Union. It is this spirit of openness, innovation, and connection that we, as Europeans, must continue to embrace. Here, in Germany, a founding nation of our Union, and a beacon of prosperity, we recall the words of Willy Brandt, which apply both to German and European reunification: ‘what belongs together will grow together.’ This is not just a vision of economic integration. It is a genuine commitment to solidarity and cohesion within our Union. It is a vision of Europe as a living body, where cities, regions, and nations are all vital organs working in harmony for the prosperity, peace, and dignity of all our citizens. This is what built the European Union. This is what we will continue to fight for. Thank you.   Visit the website