As Europe faces an era of rapidly multiplying crises, from Russian military aggression to pandemics, refugee flows, and the unpredictability of the Trump administration, the EU's capacity to respond swiftly has become a matter of existential importance. In the latest paper in CEPR's Europe 2050 series, Gérard Roland (UC Berkeley and CEPR) argues that the Union urgently needs a formal system of emergency powers, and sets out seven principles for what such a system should look like. Drawing on