The rise of the Italian-German axis, dubbed “Merzoni,” is reshaping EU power by challenging the traditional Franco-German engine. Backed by a competitiveness agenda focused on deregulation, industrial strength, defense readiness, and trade, Germany and Italy are driving a more fragmented, multi-speed Europe. As Macron’s influence weakens and new coalitions like the E6 emerge, the European Union faces a decisive moment in redefining its economic model, strategic autonomy, and global role.