Dimon’s warning rings true for Europe

JP MORGAN CEO Jamie Dimon warned in October that the world may be living through “the most dangerous time in decades”. He specifically flagged that the Ukraine war plus the crisis in the Middle East may have profound implications for global energy and food markets, trade and geopolitical relationships.

Dimon’s concerns are especially relevant for the European Union (EU) given the risks to the bloc from both Ukraine and the Israel-Hamas conflict. Little wonder that geopolitics dominated the summit of 27 presidents and prime ministers in Brussels last Thursday (Oct 26) and Friday.

With the EU’s big 2024 election year fast approaching, there is much important economic and wider domestic policy business for the bloc to attend to. So the growing proliferation of foreign challenges is a huge headache as there is only a limited political “window of opportunity” now to get big pieces of policy approved before the European Parliament campaign kicks into top gear.