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On the final day of the “European Awareness Days – European Economic Forum 2026,” the panel discussion “Europe – US Economic NATO: Rebuilding the Foundations for Western Prosperity” took place, bringing to a close the spectacular event organized by the ECR Party last weekend in the beautiful, centuries-old Transylvanian city of Cluj-Napoca.
Moderated by Matthew Boyse, Senior Fellow at the Hudson Institute’s Center on Europe and Eurasia, this final panel of the European Economic Forum featured prominent public figures from both the political and economic spheres.
Maria Georgiana Teodorescu, a Romanian Member of the European Parliament and member of the ECR Group, spoke about the critical challenges facing the European Union. The Romanian MEP’s vision is very clear: we need a coordinated trade and investment policy, as well as financial mutual support between the EU and the US. An Economic NATO could be a solution, given that the EU and the US “can achieve far better together than each on its own.”
For the ECR Group in the European Parliament, “economic security has always meant national security,” stated Georgiana Teodorescu. The EU has a responsibility to correct its mistakes and begin acting in a mature and responsible manner; otherwise, there is a significant risk of losing the battle in terms of economic relevance. The ECR MEP spoke out strongly against excessive centralization, “too many” environmental laws, and growing dependence on the Chinese market, arguing that a coordinated effort at the EU level is needed to halt these dangerous trends. “Freedom is not free; it comes at a cost. If we want to remain free, we must ensure that the economy grows stronger and stronger,” said Georgiana Teodorescu.
Dick Roche, former Minister for European Affairs in Ireland, agreed that the concept of Economic NATO is very attractive, speaking about the harm Europe has done to itself in recent years, and adding that the Old Continent must get back on track. “Europe has lost its way so dramatically because it has focused on everything except what it should have,” stated the former minister, who believes that “our biggest challenge now is returning to common sense” – a crucial goal that ECR representatives have repeatedly emphasized in recent years. When the specific values of each member state were respected, the Union was stronger. In Dick Roche’s view, the EU must once again become a “unique union of sovereign nations,” which preserves national identities and in which the voices of the people are truly heard.
According to Czech lawmaker Vojtech Munzar, Brussels has overlooked a “fundamental principle”: securing a free market in the long term. Only free decision-making, natural competition, and private initiative will create innovation. The main ways to achieve long-term prosperity are “less regulation, less redistribution, more free market, more competition, and more free choice.” In Munzar’s view, every politician must protect freedom, sovereignty, and traditional values, but also leave society in a better state than it was before.
Speaking on the panel, Michele Schiano di Visconti, a member of the Italian Chamber of Deputies, stated that Economic NATO does not mean a superstate, but rather a strategic alliance among sovereign, pragmatic, and competitive nations that share common values and responsibilities. A firm “no” to ideology and over-regulation, but a resounding “yes” to the free market. A proponent of a solid partnership with the United States, the Fratelli d’Italia MP advocates for the need to build a new Western economic pillar, grounded in national sovereignty, energy security, and the defence of economic freedom and strategic interests.
Wolfgang Muller, Executive Director at the Global New Energy Institute in Germany, also spoke about over-regulation and the fight against it, stating that “the level of regulation is beyond comprehension.” “Red tape is killing industries,” Muller believes. He cited Javier Milei as an example – a black swan for socialists, greens, and communists – who came to power in Argentina after a century of “idiotic policies.” The courage of the Argentinians should serve as a source of inspiration for Europeans as well, who should finally take the initiative.