After Donald Trump’s second win the European Union should capitalise on the likely transatlantic brain drain
I am resisting the temptation to write a lamentation of anger and sorrow about Trump’s second victory. What is more useful is to think about what Europe can do to protect its environment, its people and its economy in a world where the Trump administration may act, in many ways, to undermine and even destroy it.
The EU’s first bold move to lead by example in the new Trump era should be to seize 200bn euros’ worth of frozen Russian central bank assets and transfer them to Ukraine as a form of pre-emptive reparations. The European Parliamentary Research Service and outside experts have proposed ways in which it could be done in full accordance with international law. But this alone won’t obviate the need for the EU to borrow more to boost its common defence and green infrastructure spending, even though it will increase its debt.
Alexander Hurst is a Guardian Europe columnist
