In this episode of the FSR Policy Briefcase (Season 2, Episode 8), hosts Leonardo Meeus and James Kneebone reflect on Ursula von der Leyen’s 2025 State of the Union address and on the conference marking one year since the Draghi report, where Leo took part in a panel of experts. The conversation revisits Draghi’s diagnosis of Europe’s competitiveness challenges and considers how it holds up in today’s shifting geopolitical and economic context. They explore progress under the Commission’s Clean Industrial Deal, particularly efforts to reduce energy prices, and assess the priorities for the year ahead. The hosts also examine von der Leyen’s call to accelerate the phase-out of Russian fossil fuels, the role of electrification in driving down costs and improving the security of supply, and her proposals for more flexible EU funding and decision-making. Finally, they reflect on how these policy directions relate to Europe’s values and the consistency of the EU’s agenda in a global context marked by instability elsewhere. Recorded in September 2025.