What does the next president of the United States have in store for the European Union? Expectations are high; the same goes for the risk of disappointment, as many analysts point out. The foreign policy of the world's number-one power is not steered in the manner of a speedboat, but rather that of a supertanker. Inertia is inevitable.

It is unsurprising that Europe does not figure in current American political debate. But a change of direction on the part of the US could be important for the EU in certain areas, such as the fight against climate change. This is shown by the policy paper, "Clinton, McCain, Obama: Europe's Best Hope for fighting Climate Change?", that we publish this month.

For we know that all three candidates are calling for determined action to counter global warming, unlike the current president. People are less aware that in practice this action - as is revealed by a comparison with proposed EU legislation - will allow the US to "catch up" with Europe in an area where Europe has taken (by default) the role of world leader. The three candidates each propose trading schemes for greenhouse-gas emissions permits, similar to the EU's. In certain respects their projects are more ambitious than the EU's; in others, less so. The policy paper makes a number of practical recommendations, with the aim of launching a positive dynamic between the two sides of the Atlantic.

In more general terms, there are lessons to be learned for other areas of transatlantic cooperation. While it is important to remain realistic about the next president's margin for manoeuvre, America is looking for change and the EU can encourage it.

Notre Europe's involvement in the Transatlantic Policy Forum is founded on this premise. The forum, bringing together American and European think tanks (CSIS and the German Marshall Fund in Washington, Europeum and PSSI in Prague, SIEPS in Stockholm), will contribute to political debate in the next few months. A conference to present policy recommendations will take place in November 2008 in Paris.

The agriculture issue has taken a dramatic turn with the hunger riots and food shortages currently affecting various parts of the planet. Emergency measures seem necessary in the context of development policy; longer term, the consequences for European farmers' incomes might allow - paradoxically - an intelligent reshuffling of the CAP's cards. Such is the audacious idea that Jean Nestor contributes to the debate over the CAP's "health check".

Finally, in view of the French presidency and the following Czech and Swedish presidencies, Notre Europe and the Fondation pour l'Innovation politique have brought together a select group of European think tanks and given them the task of presenting proposals dealing with the major themes of this troika. The report will be launched at the Chambre de Commerce et d'Industrie de Paris on 23 May 2008 from 08.30 to 13.00. Present will be the think tanks involved and numerous European figures, in particular from the three presidencies. A detailed programme will shortly be available on TGAE .