48 PUBLIC GAMING INTERNATIONAL • NOVEMBER/DECEMBER 2025 Turning fear and anxiety into hope and positive action — continued from page 39 a model of tolerance, but here there is no encouragement of racism by governments and, of course, no tolerance of genocide. The only question for us is: what is needed to safeguard our interests and our values on our territory? It's as simple as that. Of course, we know that the balance of power in the world has shifted. That is not dramatic at all. We are not jealous or obsessed with the fear of no longer being the greatest. We gave up that fantasy in the 1950s. Precisely because of globalization, the ratio of advanced to emerging economies in global GDP reversed in a single generation: from 60-40% to 40-60%. Nevertheless, prosperity continued to grow in Western countries, but elsewhere it grew faster. To a certain extent, this is normal, because mature economies simply grow more slowly than middle-income countries. The power of other global actors should not be overestimated. It is in our interest that there be no wars, certainly not on our continent. That is why we support Ukraine, which is fighting a defensive war. At the same time, they are fighting for our own freedom, because if they fail, the door will be open to new wars. This mistrust weighs heavily on the global economy because trade tends to take place more between like-minded countries, between 'blocs' with a shared interest, at least that has been the trend in recent years. However, that too is changing. After all, what does like-mindedness still mean? With its trade war, is the US really still a like-minded country for us? But even the Shanghai Cooperation Organisation, which recently met under China's leadership, and even the BRICS countries, have divergent interests and political systems. The only thing that binds them is anti-Americanism. So here too, we must beware of generalizations and definitive judgements. In any case, fortunately, this does not mean that there is no longer any trade between the so-called 'blocs'. On the contrary, there will still be positive growth in 2025, for example, in EU trade with China and with the US. The figures for the most recent months prove this. Nothing is what it seems! It is in Europe's interest to support international rules on trade and climate, among other things, commonly referred to as the multilateral order. However, we cannot be the only ones who still believe in it. Others pay lip service to these rules; still others blatantly ignore them. Belief in free competition is no longer 'sexy'. We live in a time when political decisions determine economic developments. Evidence of this can be seen in Brexit, the tariff war, and Russia's ability to turn the gas tap on and off depending on the customer. The return of the primacy of politics means the return of nationalism. In the US, the government is now considering acquiring stakes in large private companies with taxpayers' money! Economic policy in many countries is now political economy. In Europe, people sometimes complain about excessive regulation, but that is nothing compared to what is happening elsewhere. Government intervention in our country is mainly in the public interest (although opinions may differ as to what this actually means), but elsewhere it is brutally about making one's own country great and making others small. In order to make other countries obey, one's own citizens and companies must also obey. Yes, there is a big difference in how Europeans view their lives and society. The EU was founded to prevent the return of nostalgic and imperialist nationalism. The return of nationalism in the world means the return of tragedy. Despite this political economy, we must continue to keep a close eye on the budget. Budgets around the world are spiraling out of control and laying the foundations for a possible future financial crisis. In the US, the annual deficit has been 6 to 7% of GDP for some time now – half that of the eurozone – and public debt is around 123% (compared to 88% in the eurozone), with the prospect of much more within a few decades. Russia has a war economy that is fuelled by money creation, especially now that energy revenues are declining sharply and will continue to decline structurally due to the development of renewable energy. China has a large hidden debt with its local public authorities. I also mentioned the international climate crisis. If we fail to achieve the targets set out in the 2015 Paris Agreement by 2050, we will all go down together. Today, Europe is responsible for only 7% of greenhouse gas emissions. If the other major polluters do not do enough, we will all pay the highest price, but especially our future generations, our future European citizens. If there is one area where we need to work together internationally, it is this. The US has once again withdrawn from the Agreement. China and the EU recently adopted a common statement on this issue. But here too, the time for good intentions is over. We need much better results than we have already achieved, as a global community and as the EU. Since 1990, the EU has seen a 37% reduction in greenhouse gas emissions in 2023, despite a doubling of real GDP! That vital metric represents a decoupling of pollution and economic growth. In 2023, renewable energy in the Union accounted for one fifth of final energy consumption and half of our electricity consumption was carbon-free. Especially climate and possibly artificial intelligence determine our long-term future. It is much more than a paradigm shift. It is an epochal shift. These shifts influence decades and centuries respectively. I can see positive as well as dangerous developments in AI. With climate change, there are no positives if we do nothing. In this new brutal and dangerous world, we must be strategically sovereign. That is why we must restore our economic and technological competitiveness, pursue a strong climate policy and invest more and better in defence. Three clear calls to action, three key words. We know what needs to be done. It is now a matter of implementation and the political will to do so. I also reiterate that we must invest in the quality of our society and of our people. The European Lotteries have long been convinced of this. In times of crisis, the role of lotteries in supporting our society deserves, more than ever, special recognition in the Union. We need more social, family and human capital. We have to have our fate in our own hands, even in a world where we often have to watch powerlessly as tragedies unfold. But powerless does not mean hopeless. On the contrary. Hope is a verb—something we practice, build, and share. Let us do so together. n
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