EU must reform or risk irrelevance, Blair and Dimon say

The European Union must reform or risk becoming irrelevant as the rivalry between China and the U.S. sparks a new era without precedent, posing challenges on security, energy, technology and trade, a report led by Tony Blair and Jamie Dimon says.



Based on conversations with government, business and civil leaders, the report sets out how a convergence of structural shifts is reshaping nations, markets and institutions, threatening those countries and groupings that once relied on the U.S. for security while growing trade ties with China.



Blair, British prime minister from 1997 to 2007, and Dimon, the head of JPMorgan Chase, said Europe needed to integrate further to prioritise defence and economic growth.



The blunt summary comes as the EU hosts a summit to discuss funding for Ukraine and how it can respond to the "changed landscape for rules-based economic relations", and as U.S. President Donald Trump heaps pressure on the bloc, including with a new National Security Strategy.



The head of the EU Commission, Ursula von der Leyen, has said that Europe must reform and be responsible for its own security. Supporters of the bloc would note that while Europe's share of global GDP is declining, the U.S. is on the same path.