Brussels Playbook Podcast

Europe is staring down a familiar and unwelcome set of circumstances: rising energy prices, slowing growth and growing political pressure.

As the fallout from the U.S.-Israeli war with Iran ripples through global markets, EU governments are scrambling to cushion the blow — with far fewer tools than they had when the full-scale Russian invasion of Ukraine triggered the last energy crisis.

Zoya Sheftalovich is joined by Nick Vinocur to unpack what this new economic shock could mean — not just for households, but for Europe’s political center.

Also on the pod: German conservatives turn up the heat on Ursula von der Leyen — and Belgium looks to keep the lights on in its shops a little longer.

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The fragile ceasefire in the Persian Gulf and the uncertainty over peace talks between the U.S. and Iran have cast a long shadow over European capitals hoping for an end to hostilities in the Middle East. Will they have any say over what happens next?

The wars in Iran and Ukraine have exposed the chasm between U.S. President Donald Trump’s administration in Washington and opinion on this side of the Atlantic. Each time the president attacks NATO and the contribution of European countries to the alliance, confidence in its durability weakens.

Host Anne McElvoy talks to Kurt Volker, whose job it was to manage relations between the U.S. and NATO allies as former ambassador to the organisation. He later served as U.S. Special Representative for Ukraine, handling the negotiations during the first Trump administration.

And later in this episode, Anne hears from Ian Wishart, who’s in Cyprus covering the informal summit of EU leaders. How will they wrestle with the war in Iran and its ongoing economic fallout?
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On today's show, Ian is in the sunny Mediterranean nation of Cyprus for the biggest gathering of EU leaders on the island for many, many years. 

Sarah joins from Brussels and Nick dials in from Greece, where he’s attending the Delphi Economic Forum.

Expect the agenda of the leaders' summit today and tomorrow to be heavy on geopolitics. High on the list of topics to discuss are the Iran crisis, high energy prices, the EU’s long-term budget and how the bloc can defend itself. So, pretty high stakes, then.

Over in Greece, Nick points out that — much to his surprise — several high-profile MAGA figures have shown up in force at the Delphi Economic Forum. With Hungarian leader and Trump ally Viktor Orbán on the way out, it seems the movement aligned with the U.S. president is looking for new friends.

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Brussels faces a narrowing window to strike a deal on its next long-term budget.

EU leaders gather in Cyprus this week for a potential clash over the bloc’s €1.8 trillion plan — already dividing north and south, farmers and reformers, capitals and Brussels. Council President Antonio Costa wants momentum. But with proposed new EU taxes, debt repayments and looming elections on the table, compromise looks distant.

On today’s episode, Ian Wishart and Ryan Heath break down what’s at stake — and why this battle is only just beginning.

They also dig into the Commission’s new emergency energy package, as fears of a new crisis grow — driven by the war in Iran and disruption to oil flows through the Strait of Hormuz.

Plus: A rekindled Paris–Brussels romance raises awkward questions about power, politics and conflicts of interest.

Got a question or a comment? Contact us on WhatsApp here or at +32 491 05 06 29.

Further reading:

Magyar wants to put the Austro-Hungarian Empire back on the map

Germany spearheads effort to weaken EU's AI rules 

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EU foreign ministers are meeting in Luxembourg today to discuss a hefty list of geopolitical crises. But compared with past gatherings, something feels ... different.

That might be because, without the presence of an obstructionist Hungary, the meeting could finally result in movement on several key topics. Ian and Sarah discuss whether we can expect decisive action to be taken on issues like the unblocking of aid to Ukraine or possible sanctions against Israeli settlers in the West Bank.

Next, we give you the lowdown on the election results in Bulgaria where ex-fighter-jet pilot Rumen Radev won big. Some diplomats here in Brussels are wondering if perhaps we’re looking at another Viktor Orbán type of leader. 

Also, with Brussels urging Europeans to cut back on travel to save fuel, MEPs are also scrutinizing their monthly trips to Strasbourg.

Finally, we have a message from our host Zoya Sheftalovich, who's on vacation in Australia ... and isn't very happy with Ian. That's not all: Carrie Budoff Brown, our executive editor, also dials in with a special birthday shout out.

Do you have a question or a comment? Contact us on WhatsApp here or at +32 491 05 06 29.
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