The euro area and the European Union are navigating an increasingly complex international landscape. Shifting geopolitical dynamics, rapid technological advancement, rising climate risks, an ageing society, and low productivity are affecting economic prospects. These developments present significant challenges but also transformative opportunities for the euro area and the EU, underscoring the critical importance of robust macroeconomic policy frameworks. This new European Macroeconomic Report (EMR) analyses these challenges, and it provides a comprehensive overview on these aspects. By providing solid analysis it aims to inform strategic policy choices to strengthen the euro area and EU’s resilience in the face of a rapidly evolving global order. […]