‘The far-right is the beneficiary of austerity policies’

Member states are contemplating the removal of Hungary's voting rights due to its efforts to hinder support for Ukraine. In response, posters with the slogan “Let’s not allow them to decide for us” have appeared across Hungary, featuring prominent figures such as Ukraine's President Volodymyr Zelenskyy, European Commission President Ursula von der Leyen, and Manfred Weber, leader of the European People's Party, which includes Hungary's leading opposition politician. This campaign reflects Hungary's ongoing tensions with...

This article discusses the urgent need for new institutions in Europe to enhance rearmament and collective defense due to the Russian threat and potential US disengagement. A recent poll revealed that 70% of respondents oppose far-right leader Marine Le Pen's presidential candidacy after her embezzlement conviction. Proposals for a rearmament bank and a European Defence Mechanism aim to provide financial support for joint procurement, tackling Europe's rearmament backlog and creating a competitive defense market while...

The writer is a managing director at Frontline Analysts and the author of The Unaccountability MachineGlobal bank supervisors are cautioning about heightened geopolitical risks while facing their own regulatory challenges, notably the delayed implementation of Basel III endgame reforms. With significant postponements in the EU and UK and uncertainty from the US, there are doubts about global cooperation in banking standards, which are already complex and outdated. As historical relationships among central bankers fade, banking...

Germany's finance minister, Jörg Kukies, discusses the country's infrastructure spending and the impact of U.S. tariffs on its economy during a dinner in Mainz, where he reflects on his family's ties to the area. He expresses concerns about the stagnation of Germany's growth due to competition from cheaper Chinese goods and emphasizes the need for the European Commission to negotiate while preparing to respond if talks fail. Despite his short tenure amid his party's dismal...

Canada’s Mark Carney and Europe’s leaders are responding differently to Donald Trump’s undermining of the liberal international order, with Carney embracing confrontation while Keir Starmer opts for restraint. Allies like Japan and South Korea are also treading carefully, balancing their security reliance on the US with the need to establish autonomy. As the Pax Americana wanes, advanced democracies must gradually reduce dependency on Washington while managing immediate challenges, recognizing that building independent military and economic...

Abolishing tariffs is desirable, but not at the cost of lowering regulatory standards or resetting relations with the European Union. A bilateral trade agreement between the UK and the US holds limited economic significance, with a projected long-term GDP increase of just 0.07%, contradicting Brexiters' claims of transformative benefits. Current tariffs on cars and pharmaceuticals pose a threat, especially with the potential reimposition of a 10% tariff on UK exports to the US, making it...