ING – Monthly Economic Update, Mar 2025

The main topic of the report concerns the current state of the global economy, described as a 'crazy world'. It discusses the impact of US policies under President Donald Trump, including rapid changes and potential trade measures such as tariffs. It notes the paralyzed state of Europe, which is fearful of trade threats and the changing geopolitical situation, especially in the context of US-Russia negotiations regarding the war in Ukraine. The report emphasizes the need for Europe to strengthen its security, defense, and strategic autonomy to avoid repeating mistakes made after the euro crisis.