France, Feb. 12 -- It is a challenge that has long dogged the European Union, but has gained greater urgency because of geopolitical turbulence, intensified global competition and an economy that lags behind bigger powers.

The leaders of the bloc's 27 countries will try to bridge their differences on how to transform the European economy at the 16th century Alden Biesen castle, guided by a landmark report published 18 months ago.

"The urgency could not be greater. We are fighting for a place in the new global economy," EU chief Ursula von der Leyen told industry chiefs Wednesday.

French President Emmanuel Macron doubled down, warning the bloc needed to act at "a new scale and new speed" to stop the "fragmentation, weakening and probabl...