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The periodic process (every 5-7 years) of the Update of the European Strategy for Particle Physics (ESPP) is now in the climax phase. The ESPP, mandated by the CERN Council, is constructed through a broad consultation of the widest particle physics community, including the opinions of physicists from around the world, and it is developed in close coordination with similar processes in the US and Asia to ensure coordination between regions and optimal use of resources globally. The schedule and current status of the ESPP elaborations will be described together with the reflections about the new flagship accelerator project at CERN.