Spain left as sole major holdout on Nato’s 5% defence spending goal

Nato has reduced its upcoming leaders' summit in The Hague to one two-and-a-half hour working session to prevent US President Donald Trump from leaving early, as he did at a recent G7 meeting. While broad support exists for increasing military spending to 3.5% of GDP, Spain remains a holdout on Trump's controversial 5% defense spending pledge, raising concerns over its impact on social welfare. Need More Context? 🔎

This article discusses the European Union's opportunity to enhance the euro's global standing as alternatives to the US dollar gain traction among investors. European Central Bank president Christine Lagarde emphasizes the need for economic resilience and shared debt mechanisms, like Eurobonds, to create a competitive financial ecosystem, while urging leaders to seize this moment to address structural challenges. Need More Context? 🔎

The EU is seeking a trade deal with the US similar to the UK agreement, aiming to maintain some tariffs post-deadline in July, as fears of economic backlash curb calls for retaliation. Despite divisions among member states, a potential acceptance of a 10% reciprocal duty is on the table, with ongoing negotiations addressing sensitive sectors like steel and pharmaceuticals. Need More Context? 🔎

Google's attempt to overturn a €4.12bn EU competition fine was undermined by an advocate-general's ruling supporting accusations that the company used its Android system to hinder competitors. This ruling aids the European Commission's efforts to enforce stricter regulations on major tech firms, adding to Google's total fines of €8bn over a decade. Need More Context? 🔎

This article discusses the EU's ongoing immigration challenges highlighted at a migration conference in Malta, where officials debated the need for harsher measures to address rising far-right sentiments while grappling with human rights concerns. Additionally, EU countries have agreed on rules that could allow Hungary to access €1.2bn in previously frozen funds without resolving rule of law issues, prompting dissent from several member states. Need More Context? 🔎

The EU has accused AliExpress of violating digital regulations by inadequately preventing the spread of illegal content, including counterfeit and unsafe products, as part of a broader crackdown on Chinese online retailers. This action follows the implementation of the Digital Services Act, which mandates stricter policing of platforms and carries penalties for non-compliance, while the EU also investigates other e-commerce sites like Shein. Need More Context? 🔎