Thames Water has been granted permission to borrow £3bn in a high-cost loan deal to prevent collapse, approved by the High Court despite appeals from creditors and a Liberal Democrat MP. The company, facing £16bn debt, requires the cash injection to continue operations amidst public outrage over pollution, high bills, and executive pay. The approved restructuring plan provides a loan with a 9.75% interest rate, with the company facing special administration if not approved, while an alternative plan proposed by secondary creditors offers better terms but was not adopted.
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Europe’s ‘happy vassal’ complex
The recent US-EU trade agreement has significantly weakened the EU's global standing, exposing its political vulnerabilities and undermining its climate agenda while highlighting a troubling trend of “vassalisation heureuse.” As Trump’s imperial vision takes shape, the EU struggles to assert its sovereignty amid growing dissatisfaction among Europeans, revealing an existential threat that could reshape international order if not effectively resisted. Want More Context? 🔎
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