Hawkish Eastern European and Nordic countries like Poland and Sweden push for increased EU defense spending, while Southern countries such as Italy and Greece prioritize funds to address migrant arrivals. In 2025, EU countries will establish negotiation red lines, with past tendencies indicating last-minute disputes. Green finance rules, particularly amendments to the Sustainable Finance Disclosure Regulation, will dominate the agenda, with Commission President Ursula von der Leyen proposing an omnibus law to consolidate various green regulations, sparking political clashes. Additionally, financial reforms including a data bill for financial access and payment sector regulations are being discussed, with Big Tech and traditional finance at odds over customer data sharing and fostering innovation.
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Spain secures opt-out from new Nato spending goal, says Sánchez
Prime Minister Pedro Sánchez announced a deal with Nato allowing Spain to opt out of a requirement to raise its defense spending to 5% of GDP, contrary to US President Trump's demands. This decision, made just before a crucial Nato summit, ensures Spain will maintain its commitment at 2.1% of GDP, while facing scrutiny amid corruption allegations within his government. Need More Context? 🔎
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