"Despite the turbulent times, we have started to run." European Commission President Ursula von der Leyen uses the symbolic milestone of 100 days since taking office - which actually falls tomorrow - to draw up a mini-assessment of the work done so far (summary: "we have stayed the course") and anticipate some new measures to come.

ReArm Europe is a "historic" step - Giorgia Meloni will have to accept the name of the plan because "it describes what is happening" - and on defense "nothing is excluded" , not even the use of "subsidies" in addition to loans, along the lines of the Recovery. It is simply too early to talk about it.

The Commission is now focused on translating into legislative acts what is proposed in the plan, already approved by the leaders. In practice, phase one. Each additional step (phase two) will come later.

The Eurogroup is meeting in Brussels today, the day after Ecofin . There will be a first round of talks here to discuss the reform of the Stability and Growth Pact, as requested by Berlin. In the informal meeting of EU finance ministers over dinner this evening and breakfast tomorrow morning, before the Council itself, "I expect that we will talk about both emergency solutions and possible longer-term solutions," a European official said. "The work is underway."

Minister Giorgetti will present the Italian request to use Invest EU to guarantee defense interventions (it is one of the hypotheses that are being aired, not the only one). The feeling now is that there are no taboos and the more Washington handles the pickaxe the more in Brussels the mortar is mixed to build the blue-star defense.

Von der Leyen, while describing the US as "allies", even if there are "differences of opinion", admitted that " something fundamental has changed, democracy and the law are threatened , everything has become transactional, our required action must be rapid".

Defense investments go "80% outside the EU", said von der Leyen, implying that this is a situation that needs to be corrected, to bring within European borders "jobs, skills, research and development", in a sector with high added value, a driving force for necessary technological transformations, especially in dual use. In short, the reaction to America first has begun.