The informal EU Summit held on February 12 focuses on enhancing competitiveness and fortifying the Single Market, with leaders meeting at the historic Alden Biesen castle in Belgium. The 27 EU leaders are working to assess common strategies against economic and geopolitical challenges, emphasizing less bureaucracy, a stronger Single Market, and reduced dependence on third countries.

European Council President Antonio Costa opened discussions by stressing that strengthening the Single Market is not just an economic choice but an urgent strategic necessity in today's geopolitical landscape. The leaders are aiming for a consensus on initiatives that have already been proposed rather than starting from scratch, indicating a desire for accelerated implementation of existing plans. This approach reflects an awareness of the competitive pressures Europe faces globally.

Additionally, discussions will encompass proposals for simplification, prioritization of European products, and the introduction of common borrowing measures. These topics underline the EU's goal of fostering resilience and competitiveness, particularly in the face of economic uncertainties and evolving international relations, as they seek to position Europe as a leader in global economic dynamics.