Top ECB policymaker warns that ‘worst-case scenarios’ are materialising

Romania's president-elect Nicușor Dan has pledged to support increased NATO defense spending goals while addressing the country's significant public deficit, which reached 9.3% of GDP last year. His election, following political turmoil and allegations of Russian interference, signals Romania's commitment to EU and NATO collaboration, particularly in supporting Ukraine. Dan aims to reduce the deficit to 7.5% of GDP this year, indicating a need for €6 billion in cuts, while stressing the importance of forming...

Ministers are attempting to sell a 1,300-truck Brexit border check facility in Kent, which is expected to become redundant due to a recent UK-EU trade agreement. The Border Control Point at Sevington, built in 2021 for anticipated post-Brexit checks, is now seen as a potential "white elephant," leading port operators to seek compensation for the £120 million spent on 41 similar facilities. Discussions are ongoing with Eurotunnel and the Port of Dover about repurposing the...

SummaryBrussels is considering extending a trade deal on American lobsters with Donald Trump, which expires on July 31, as part of negotiations to alleviate tariffs imposed during Trump’s presidency. The European Commission is open to this extension while discussions about broader trade issues, including the EU's trade surplus and regulatory barriers, have commenced. Although the lobster trade is not economically significant, EU officials believe it could help de-escalate tensions and are willing to review import...

LVMH CEO Bernard Arnault criticized the EU's negotiations with the US over tariffs, stating they have started poorly compared to the UK's swift trade deal with Washington. He emphasized the importance of a constructive agreement, particularly for Europe's luxury sector, which faces challenges from tariffs and declining sales in major markets like the US and China. Arnault warned that failure to secure a deal could have catastrophic consequences for the European economy, especially for industries...

Spain is set to enhance flexibility for companies launching initial public offerings (IPOs) by extending the timeframe for shares to begin trading from five days to 18 months, allowing firms to choose optimal market conditions. This change, driven by a series of last-minute IPO cancellations and aimed at revitalizing the European market, follows recent instances where companies like Europastry and Tendam postponed their flotations due to external uncertainties. The new BME Easy Access process will...

The EU's efforts to enhance private sector pensions amid an ageing population have been deemed ineffective by the European Court of Auditors, revealing that the cross-border pension product launched three years ago has attracted only 5,000 users and less than 0.0002% of its €700bn target. The report highlights the reliance on state pension systems in many EU countries and the pressing need for supplementary pensions as the over-65 demographic is projected to rise significantly. Challenges...