Overview

• Speaking at the Valdai Discussion Club on October 2, Vladimir Putin said Germany and France no longer lead the European economy.
• He argued that leading EU economies face stagnation and comparatively large budget deficits, which he cast as the core drivers of the change.
• He contended that Poland will not assume a similar leadership role in the near historical perspective.
• He described Western discourse as manufactured “hysteria” intended to divert attention from deep internal problems in those countries.
• His remarks were carried by Russian state outlets, reflecting the Kremlin’s narrative rather than independent economic analysis or EU responses.