António Costa

Money Moves

Steering the process; leaders aim to agree at the Dec. 17-18 summit, with January as fallback

Christine Lagarde leaves the European Central Bank on Feb. 7, 2027, about nine months before her term ends, after announcing on Oct. 29 that she wants freedom to speak on matters beyond monetary policy. Euro-area inflation reached 4% in October, up from 3.8% in September, led by energy costs.

Updated 10 hours ago

Force in Play

Led EU emergency summit response to Greenland crisis, demanding Trump show respect to allies

President Trump reversed his tariff threats and ruled out military force on January 21 after announcing a "framework" with NATO Secretary-General Mark Rutte. The framework covers Arctic security cooperation, U.S. access to Greenland's rare earth minerals (1.5 million metric tons—the world's eighth-largest reserves), and Trump's "Golden Dome" missile defense system ($175-831 billion shield against hypersonic threats).

Updated 7 days ago

Rule Changes

Represented EU member states at the summit

Canada and the European Union closed a two-day summit in Montreal on Oct. 30 by launching an "Alliance for the Future" and declaring Canada the bloc's first "associate member." The phrase has no legal basis in EU law and is contested by some member states. What does have text is a concluded Digital Trade Agreement, a lending framework for Canadian critical minerals, and Canada's entry into the EU's support loan for Ukraine.

Updated Nov 1

Rule Changes

Co-signed agreement alongside von der Leyen

Negotiations between the EU and Mercosur began in 1999. Twenty-six years later, on January 17, 2026, representatives signed a comprehensive free trade agreement in Asunción, Paraguay—the same city where Mercosur itself was founded in 1991. The deal eliminates tariffs on more than 90% of bilateral trade and creates the world's largest free trade zone, covering over 700 million consumers and roughly a quarter of global GDP.

Updated Oct 23

Force in Play

Convened extraordinary EU summit on Greenland for late January 2026

The United States has operated military bases in Greenland since 1941, under agreements with Denmark. On January 15, 2026, NATO allies deployed troops to the island to counter U.S. pressure after American-Danish talks collapsed. On January 17, President Trump announced 10% tariffs on eight European countries: Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden, and the United Kingdom. The tariffs will rise to 25% by June unless 'a deal is reached for the Complete and Total purchase of Greenland.' On January 20, Trump declared on Truth Social that 'there can be no going back' on Greenland, calling it 'imperative for National and World Security.' That same day, Denmark deployed its Army Chief, General Peter Boysen, alongside 58 additional troops to Greenland, bringing total Danish military presence to approximately 178 personnel for Operation Arctic Endurance.

Updated Oct 23

Rule Changes

As of May 2026: Co-led EU delegation at India-EU Summit

India and the European Union became strategic partners in 2004. At the 16th EU-India Summit on January 27, 2026, they signed a Security and Defence Partnership, making India the third Asian country (after Japan and South Korea) to gain formal access to European defence initiatives. They also concluded a historic free trade agreement (covering 2 billion people and a $27 trillion combined market) that enters force in 2027, giving Indian firms access to the EU's €150 billion SAFE rearmament programme.

Updated May 23

Rule Changes

As of May 2026: Co-chaired successful conclusion of EU-India FTA as chief guest at India's Republic Day

After 19 years, 14 formal rounds, and a January sprint that defied skeptics, India and the European Union concluded their free trade agreement on January 26, 2026. EU leaders Ursula von der Leyen and António Costa, attending India's Republic Day as chief guests, jointly announced the deal with Prime Minister Narendra Modi on January 27.

Updated May 20

Rule Changes

As of May 2026: Working with Cyprus presidency to advance EU agenda

Cyprus, a divided island of a million people, took control of the EU Council on January 1, 2026. The presidency begins as Europe faces Russia's war in Ukraine entering year four, crumbling transatlantic unity, and a €2 trillion budget battle. It kicked off on January 7 with a ceremony in Nicosia featuring President Zelenskyy, and it promises a 'new approach' to Ukraine's EU accession while juggling 330 legislative files.

Updated May 19

Force in Play

As of May 2026: Leading European critic of U.S. interference in European politics

On December 5, 2025, the Trump administration released a 33-page National Security Strategy declaring a Trump Corollary to the Monroe Doctrine. The document formally revives the 19th-century idea of the Western Hemisphere as a U.S. sphere of influence and promises to reassert American preeminence across the Americas.

Updated May 10