Max and Donatienne discuss recent comments by German Chancellor Friedrich Merz declaring the end of ‘Pax Americana’. Then, they preview a high-stakes European Council meeting, where leaders will discuss the Mercosur trade deal and the European Commission’s proposal to leverage frozen Russian assets to provide a crucial loan to Ukraine.  Finally, they turn to a conversation with Dr. Thu Nguyen, Acting Co-Director of the Jacques Delors Centre, to discuss the state of democracy in the EU.  (00:00) Intro (02:05) Friedrich Merz ‘Pax Americana’ Speech (05:19) Frozen Russian Assets Loan (13:13) Mercosur Trade Deal (19:00) Interview with Thu Nguyen   Learn more: Russian Roulette | CSIS Podcasts