Merkel’s big EU speech: What she said, what she meant

Angela Merkel delivered what may well be her last speech at the European Parliament on Wednesday to address a question that never seems to go out of fashion — the future of Europe.

Seasoned Merkel-watchers hoping for a bold vision would have been disappointed. Instead, she served up a familiar stew of policy prescriptions and positions on everything from security to refugee policy to the eurozone.

With the chancellor’s own political future in question, it’s not clear what role she’ll play in the Continent’s future, if any. Nonetheless, Merkel’s authority on the European stage remains unmatched, which explains why even those who oppose her were listening closely to her remarks. And though most of her speech was straight from her “Best Of” playlist, she did set a few interesting accents on security and the transatlantic relationship.

We’ve decoded the key messages in Merkel’s speech.