The annual meeting on economic governance between MEPs and MPs from 29 European countries, including Ukraine, kicked off on Monday, according to a press release issued by the European Parliament.

The conference, which will end on Tuesday, was opened by EP President Roberta Metsola on Monday afternoon who told participants that Europe must remain united in the face of global challenges such as that of a belligerent Russia. “Our way of doing things works, which is why Europe continues setting global standards”, President Metsola said, urging parliamentarians to avoid the temptation of a protectionist race when confronted with the economic difficulties currently facing all countries. Instead, Ms Metsola called for a bold, coordinated response, also by using the fora such as this conference, to identify the best solutions to be emulated.

The Speaker of the Swedish Riksdag, Andreas Norlén reminded participants that, despite the war in Ukraine having negatively affected all European economies, the highest price was being paid by the Ukrainian people. “The future of Europe is being fought in the cities of Ukraine”, Mr Norlén said. Economic adaptations would be necessary, due to geo-politics but also due to the need to better address climate change and tax fairness, Mr Norlén said, adding that constructive discussion on how to enact these adaptations was key.

Commission Executive Vice-President Valdis Dombrovskis outlined the next policy steps the Commission would be taking in the months ahead, notably regarding the revision of the EU’s economic governance and initiatives linked to the green transition.