Europe is going through 2026 under the pressure of a "polycrisis", the overlapping of several threats that feed into each other, and analyses by the European Parliament, the World Economic Forum, the International Monetary Fund and the Eurasia Group show that the main fears concern security, the economy, migration, climate and artificial intelligence. Superimposed shocks define the beginning of 2026 in Europe. The continent is simultaneously confronted with security risks, economic stagnation,