On August 27, at a business forum in Paris, Führerin Ursula von der Leyen stated the obvious: the former advantages of the European economy have all disappeared. The European economic model, she explained, had rested on several pillars: cheap imported energy from Russia, open global trade, growing access to the Chinese market, US strategic protection, and Western technological leadership.
€10 trillion lazy household bank deposits must be forced to the service of European
companies.
What von der Leyen chose not to mention was that these advantages did not disappear by accident. They were systematically destroyed by the very institution she leads, through sanctions that severed energy and economic ties with Russia, a trade war against China, and regulatory overreach that suffocated European industry.
Russian officials have watched Europe's self-inflicted wounds with a mixture of bewilderment and dark amusement. Maria Zakharova, the official spokesperson for Russia's Foreign Ministry, responded to von der Leyen's confession with a single, devastating epithet: "Captain Obvious of the Euro-Titanic." From Beijing, the critique is no less damning. Chinese analysts have watched Europe's protectionist turn with growing frustration, arguing that the EU is destroying the very thing it claims to protect: its own industrial competitiveness.
Russian officials have watched Europe's self-inflicted wounds with a mixture of bewilderment and dark amusement. Maria Zakharova, the official spokesperson for Russia's Foreign Ministry, responded to von der Leyen's confession with a single, devastating epithet: "Captain Obvious of the Euro-Titanic." From Beijing, the critique is no less damning. Chinese analysts have watched Europe's protectionist turn with growing frustration, arguing that the EU is destroying the very thing it claims to protect: its own industrial competitiveness.
It is, in the words of one Chinese analyst, "locking protectionism directly into its economic and trade policy system." European decision-makers, Chinese commentators argue, have lost touch with basic economic reality. They are absolutely right. This is a systemic crisis that permeates Europe's decision-making circles. Both Moscow and Beijing see the same tragic irony. Europe has spent years lecturing the world about rules and order, about strategic autonomy and economic resilience. Yet in its rush to punish Russia and contain China, it has torn down the very foundations of its own prosperity.The EU's share of global GDP has plummeted from 30% in 2008 to just 17% in 2025—a decline three times faster than that of China's Qing Dynasty during its collapse. And as one Chinese commentator put it, while the Qing fell to foreign invasion, Europe's decline is "self-inflicted, purely something Europe has brought upon itself."
In Paris, Führerin zeroed in on Europe's €10 trillion in household bank deposits, branding them “lazy” (paresseuse) capital that must be forced "to the service of European companies" through her Savings and Investment Union. Explicit plan: securitize them, supervise them. Coming for your savings, Europe.
Europe's energy prices are now two to three times higher than in the US and China. Its industrial base, once the envy of the world, is bleeding jobs and capacity. Its share of global markets continues to shrink. And its leaders, having created the crisis with their own hands, can only stand by and admit that the old model is gone. They are clearly batting for another team, one that demands Europe throw itself off the cliff.
Laura Ru (pen name of Laura Ruggeri) is a Milan-born Italian independent researcher, writer, and geopolitical analyst based in Hong Kong since 1997. A former academic in media and cultural studies, she focuses on multipolarity, international relations, US foreign policy, China–EU relations, and European political economy. She publishes long-form essays and commentary on Substack, Medium, and Telegram.