In Davos, Switzerland, the World Economic Forum has come to an end, bringing together more than 60 heads of state and government. Officially, the organizers had announced this year’s theme as “The Spirit of Dialogue.” In reality, Davos 2026 became a forum of rupture: between the United States and Europe, between words and actions, between the old world order and the new. At the center of the discussions were U.S. claims over Greenland, the crisis in transatlantic relations, and a widespread sense of the end of an era. Several leaders openly stated that the old rules no longer work and that the world is entering a phase of instability.
Mark Carney
Prime Minister of Canada
What he talked about: Countries like Canada, the so-called “middle powers”, were among the main beneficiaries of the liberal world order. They could rely on U.S. protection, develop their economies, and pursue value-based policies. Today, that world order is breaking down. “Middle powers” must, first, diversify: stop relying on a single patron and learn to balance their relations among several great powers. And second, “middle powers” must stick together.
If great powers abandon even the pretense of rules and values for the unhindered pursuit of their power and interests, the gains from transactionalism will become harder to replicate.
Hegemons cannot continually monetize their relationships.
Allies will diversify to hedge against uncertainty.
They’ll buy insurance, increase options in order to rebuild sovereignty – sovereignty that was once grounded in rules, but will increasingly be anchored in the ability to withstand pressure.This room knows this is classic risk management. Risk management comes at a price, but that cost of strategic autonomy, of sovereignty can also be shared.
Collective investments in resilience are cheaper than everyone building their own fortresses.
Shared standards reduce fragmentations.
Complementarities are positive sum.
And the question for middle powers like Canada is not whether to adapt to the new reality – we must. The question is whether we adapt by simply building higher walls, or whether we can do something more ambitious.
***
Argue, the middle powers must act together, because if we’re not at the table, we’re on the menu.
Emmanuel Macron
President of the French Republic
What he talked about: In the context of the breakdown of the global order, Europe must strengthen its sovereignty, above all its economic sovereignty, and increase its competitiveness. It needs to protect its market, as the United States and China already do; stimulate economic activity, simplify doing business by reducing excessive regulation; and invest far more heavily in innovation.
Look at the situation where we are. I mean, a shift towards autocracy, against democracy. More violence, more than 60 wars in 2024 – an absolute record, even if I understood a few of them were fixed. And conflict has become normalized, hybrid, expanding into new demands, space, digital information, cyber, trade and so on.
It’s as well a shift towards a world without rules. Where international law is trampled underfoot and where the only laws it seems to matter is that of the strongest. And imperial ambitions are resurfacing. Obviously the Russian war, the Russian war of aggression against Ukraine, which will enter into its fourth year next month, and conflicts continue in the Middle East and across Africa.
This is as well as shift towards a world without effective collective governance and where multilateralism is weakened by powers that obstruct it or turn away from it, and rules are undermined.
And I can multiply the examples of international bodies weakened or left by the key economies.
And when we look at the situation, it’s clearly a very concerning time, because we are killing this structure where we can fix the situation and the common challenges we have.
***
And the answer, in order to fix this issue, is more cooperation. And building new approaches. And it’s clearly building more economic sovereignty and strategic economy, especially for the Europeans, which, for me, is the core answer.
Donald Trump
President of the United States
What he talked about: According to him, in just one year of his presidency, the United States experienced an economic miracle. In contrast, Europe shows the results of a disastrous left-wing policy. For decades, the United States protected everyone and helped everyone without ever asking for anything in return and now it is asking for “only” Greenland.
I mean, look, I am derived from Europe – Scotland and Germany. 100% Scotland, my mother. 100% German, my father. And we believe deeply in the bonds we share with Europe as a civilization. I want to see it do great. That’s why issues like energy, trade, immigration and economic growth must be central concerns to anyone who wants to see a strong and united West.
Because Europe and those countries have to do their thing. They have to get out of the culture that they’ve created over the last 10 years. It’s horrible what they’re doing to themselves. They’re destroying themselves. It’s beautiful, beautiful places.
We want strong allies, not seriously weakened ones. We want Europe to be strong. Ultimately, these are matters of national security, and perhaps no current issue makes the situation more clear than what’s currently going on with Greenland.
***
So, we want a piece of ice for world protection. And and they won’t give it. We’ve never asked for anything else, and we could have kept that piece of land, and we didn’t. So ,they have a choice. You can say ‘yes ‘and we will be very appreciative, or you can say ‘no’ and we will remember.
Friedrich Merz
Chancellor of Germany
What he talked about: Europe must strengthen its unity and its defense capabilities while expanding cooperation with different countries and regions. At the same time, it should not abandon NATO; it is necessary to restore the trust on which it relied for many years. Above all, however, Europe needs to put its own house in order: carry out necessary reforms, reduce bureaucracy, and prioritize economic growth.
We have entered a time of great-power politics. The international order of the past three decades – anchored in international law – has always been imperfect. Today, its very foundations have been shaken.
This new world of great powers is being built on power, on strength and when it comes to it, on force. It is not a cozy place.
We do not have to accept this new reality as fate. We are not at the mercy of this new world order.
We do have a choice. We can shape the future. To succeed, we must face harsh realities and chart our course with clear-eyed realism.***
First, we must invest massively in our ability to defend ourselves. And we are doing this.
Second, we must rapidly make our economies competitive. And we are doing this.
Third, we must stand closer together, among Europeans and among like-minded partners. We are doing this.
Volodymyr Zelensky
President of Ukraine
What he talked about: Year after year, Europe promises to strengthen its defense capabilities and competitiveness, says it wants to punish the aggressor Putin, and support defenders of democracy in Ukraine, Iran, and elsewhere. But in practice, nothing changes: European leaders give the impression that they are waiting for things to somehow sort themselves out.
Europe loves to discuss the future but avoids taking action today – action that defines what kind of future we will have. That is the problem.
***
Some European leaders are from Europe, but not always for Europe. And Europe still feels more like a geography, a history, a tradition – not a real political force, not a great power.
Some Europeans are really strong. It’s true. But many say: “We must stand strong”. And they always want someone else to tell them how long they need to stand strong. Preferably – until the next election.
But that’s not how great power works, to my mind.
Leaders say: “We must defend European interests.” But they hope someone else will do it for them. And speaking of values they often mean valuables.
They are all like: “We need something to replace the old world order with.” But where is the line of leaders who are ready to act – act now on land, in the air, and at sea – to build a new global order?
You can’t build the new world order out of words. Only actions create real order.
