Slovakia in ‘very intense’ talks on 2025 gas supplies, Fico says

Friedrich Merz, the new German chancellor, pledged to defend NATO territory during the inauguration of Germany's first permanently stationed military brigade abroad since WWII, based in Lithuania. This deployment, comprising around 400 soldiers with plans to reach 5,000 by 2027, was initiated in response to heightened security concerns following Russia's invasion of Ukraine. Merz, emphasizing Germany's commitment to NATO and European defense, aims to enhance the military's capabilities significantly, marking a significant shift in Germany's...

Spain’s grid operator, Red Eléctrica, has criticized large power plants for failing to regulate the electricity system before a significant blackout that affected 60 million people. Beatriz Corredor, chair of Redeia, stated that certain gas, nuclear, and hydroelectric facilities did not meet voltage control requirements, while plant owners attributed the outage to insufficient grid investment and a lack of demand stimulation. The debate continues as experts identify voltage surges as a key factor, with calls...

SummaryThe European Central Bank (ECB) has warned that droughts could lead to a nearly 15% reduction in economic output in the Eurozone, particularly affecting agriculture, manufacturing, mining, and construction sectors with €1.3 trillion in loans at risk. ECB executive board member Frank Elderson highlighted the severe financial risks posed by climate change, noting that farming could see up to 30% of output endangered in southern Europe. Amidst political backlash against green policies, debates continue on...

This article discusses the evolving economic consensus in the Eurozone, highlighting a shift away from wage repression as a measure of competitiveness, as noted by Mario Draghi and the German Council of Economic Experts (GCEE). Both emphasize the importance of investment over traditional competitiveness metrics, with Draghi advocating for common European borrowing to stimulate growth, while the GCEE stresses the need for strict measures to ensure that new fiscal stimulus effectively enhances productivity. Overall, the...

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...