Good Morning! Today, 6 June, it is 80 years ago that the Allied Forces landed in Normandy. D-Day will be remembered today all across Europe and the US, with veterans coming together at the place where it all happened… France. This might be the last time that there are veterans present that actually fought on the battle field.

Today the election for the European Parliament kick off as well, starting in the Netherlands. As you cast your vote, remember the democratic rights that Allied soldiers fought to preserve on D-Day.

Two stories today:

• The geopolitical playing field is changing and it is not good for Europe

• Sam Altman only earn 65,000 as CEO of OpenAI, and that is all he need!

Enjoy!

X Nils

GEOPOLITICS
Europe is lagging behind

What Happened
Europe is making significant strides to keep pace with the global economic and technological competition, particularly from the United States and China. The European Union has recently passed a Green Deal Industrial Plan to accelerate the energy transition and has proposed an industrial defense policy. However, these efforts are being viewed as insufficient when compared to the vast resources being deployed by the U.S. and China. Research from Rystad Energy suggests that the EU is set to fall behind its ambitious targets for renewable energy, clean technology capacity, and domestic supply chain investments. To remain competitive, public and private investment in the EU needs to increase by an additional €500 billion annually.

Why it Matters
Europe's struggle to keep pace with the United States and China in economic and technological advancement has significant implications for the global balance of power. As the world becomes increasingly multipolar, the ability of the European Union to assert itself as a major player on the international stage is being tested.

The EU's fragmented market and disparate regulations not only hinder its economic competitiveness but also limit its political influence and strategic autonomy. In a world where economic might often translates into geopolitical clout, Europe's waning competitiveness in capital investments, research and development, and productivity growth could have far-reaching consequences. A weakened Europe may find itself less able to shape global norms, protect its interests, and promote its values in the face of rising powers like China and resurgent ones like Russia. Moreover, a diminished European presence could create a vacuum that other actors, with potentially divergent interests, may seek to fill as the United States and China continue to pour vast resources into their economic and technological capabilities, Europe risks being left behind not just economically but also geopolitically. To maintain its position as a key global player, the EU must find ways to enhance its economic integration, boost investment, and foster innovation while navigating the complex political realities of its member states. Failure to do so could have profound implications for Europe's influence and the global balance of power in the decades to come.

What's Next
European policymakers face the daunting task of reconciling the need for greater economic integration and investment with the political realities of diverse national interests and skepticism about centralization. As the EU prepares its next five-year strategic plan, the focus will be on enhancing investment, integrating markets, and fostering innovation while addressing concerns about national sovereignty and consumer protection. The upcoming fall meeting of European policymakers will be crucial in shaping these strategies. The success of these initiatives will determine Europe's ability to compete on the global stage and maintain its standards of living amidst increasing economic pressures.

Vote 🗳️

Today we can vote in the Netherlands and in the upcoming days troughout Europe. As this article shows, it is very important that we contribute and think about the way forward in Europe. So please, go vote today!