The Bulletin: February 2026

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Europe’s place in a divided world

Making accurate predictions on the political and economic outlook for a region is difficult at the best of times. During a period of sustained geopolitical instability, where it seems anything could happen, it is almost impossible. Europe, caught between the consequences of volatile and vengeful policy-making on one side and brutal military conflict on the other, is facing a year that could make or break it as a power on the world stage.

For that reason, this edition of the OMFIF Bulletin does not attempt to be a crystal ball into Europe’s future. Instead, it lays out the various problems facing the region – including demographic pressures, political fragmentation, defence needs and low growth – and focuses on what it will take for Europe to overcome these challenges. It draws on a vast network of experienced and expert views to offer up a vision of what Europe could become if it can get its act together.

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