DiEM25 As leaders, generals and diplomats gather in Munich this weekend to debate Europe’s security and the future of the transatlantic alliance, the real question is not what is said on stage — but what direction Europe is being steered toward. Yanis Varoufakis and Jeffrey Sachs examine the conclusions of the Munich Security Conference — and the wider headlines, reactions and signals surrounding it — separating rhetoric from reality. Is “strategic autonomy” taking shape, or are old dependencies being reinforced? What does Munich reveal about Ukraine, NATO and Europe’s room to manoeuvre?