Ursula von der Leyen’s first ‘State of the Union’ speech is an opportunity for her to reassert her political agenda under the conditions of COVID-19 and to set the tone for her four remaining years in office. The summit agreement in July on a recovery strategy was perceived as a leap forward for the EU but fell short of von der Leyen’s ambitions. Fault lines between member states are deepening, and interinstitutional cooperation is on the wane. This is a make-or-break moment for the Commission President.