Category Archives: European Union

Eurozone banks starting to show ‘stress’ as loan defaults rise, ECB warns

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Rising interest rates have boosted profitability but are likely to limit demand and increase risk of bad debts, says central bank

The balance sheets of eurozone banks are showing “early signs of stress” after a rise in loan defaults and late payments by customers, the European Central Bank has warned.

Higher interest rates have boosted banks’ income and profits for the time being, the ECB said, but lenders are facing pressures from higher funding costs, worsening asset quality and lower lending volumes.

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Moldovan president’s dog bites hand of Austrian president

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Incident happened in Moldovan presidential residence when Alexander Van der Bellen tried to pet Maia Sandu’s rescue dog

The dog of the Moldovan president, Maia Sandu, has overturned protocol by biting the visiting Austrian president, Alexander Van der Bellen, on the hand.

The incident occurred on Thursday when the two leaders were strolling in the courtyard of the Moldovan presidential residence in the capital, Chișinău, and Van der Bellen tried to pet the dog, Moldovan media reported.

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EU agrees to ban exports of waste plastic to poor countries

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Rules, still subject to formal approval, stop exports to non-OECD countries and limit them elsewhere

The EU has struck a deal to stop ships of waste plastic landing in ports of poor countries.

European lawmakers and member states agreed on Friday to ban exports of plastic rubbish to countries outside the OECD group of mostly rich countries from the middle of 2026. The deal comes as diplomats meet in Nairobi, Kenya, to hammer out a global treaty on plastic pollution.

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EU foreign affairs chief tells Israel not to be ‘consumed by rage’ in response to Hamas attacks

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Josep Borrell says ‘one horror does not justify another’ and calls for unconditional release of hostages

The EU foreign affairs chief, Josep Borrell, has urged Israel not to be “consumed by rage” in its response to the Hamas attacks of 7 October as the French president, Emmanuel Macron, acknowledged splits in Europe on the conflict.

Speaking from Kibbutz Be’eri – where at least 85 of the 1,200 people killed that day died and from where about 30 of the more than 240 were kidnapped – Borrell said “Israel must be defended”, but, “one horror does not justify another: innocent civilians, including thousands of children, have died in recent weeks.

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EU plans fresh Russia sanctions including against son of Dmitry Medvedev

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Proposals aimed at choking off commercial revenues include total ban on sale of Russian rough diamonds

The European Commission is proposing a 12th round of sanctions against Moscow, including restrictions on scores of individuals apparently including the son of the former president Dmitry Medvedev and a relative of Vladimir Putin’s.

Among the 47 individuals the commission wants added to existing sanctions lists are Putin’s cousin Anna Tsivileva, who chairs the “defenders of the fatherland” foundation that supports Russian soldiers fighting in Ukraine.

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Rise in asylum seekers from Russia is Kremlin act of revenge, says Finnish president

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Sauli Niinistö says this is Russia’s response to Finland’s cooperation with US and vows to take ‘very clear action’

The Finnish president has vowed to take “very clear action” over the growing number of asylum seekers arriving from Russia, which he said appeared to be a Kremlin act of revenge for Finland’s cooperation with the US.

Sauli Niinistö’s comments come after the Finnish border guard reported steadily increasing numbers of asylum seekers arriving at border crossing points in south-east Finland in recent days.

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‘West v rest’ no longer seen as template for global alliances, survey finds

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Research in 21 countries suggests a growing ‘a la carte’ approach where states ‘mix and match’ partners on different issues

As the US and Chinese presidents meet on Wednesday in high-stakes diplomacy intended to reduce tensions between the world’s two superpowers, a survey of 21 countries shows that geopolitical alliances no longer fit a “west v the rest” frame.

Many in the west think it is in decline, many outside it want China to be more active in their economies and believe Russia will win its war against Ukraine, and many beyond Europe reckon the EU will not last another 20 years, according to the research, which concludes that global relations are becoming increasingly “a la carte”.

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Brexit to pints with Xi: why David Cameron is a controversial foreign secretary

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As former UK PM makes a return to cabinet, we look at his somewhat chequered record on global stage

David Cameron has made a shock return to the UK government as foreign secretary.

A profile on the government’s website credits him with developing “a foreign policy that responded to the new challenges of the Arab spring and also evolving challenges from various state and non-state actors”.

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EU strikes landmark deal on law to restore and protect nature

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Legislation will set targets to restore 20% of EU land and seas by 2030, and 90% of degraded habitats by 2050

EU lawmakers and member states have struck a deal on a landmark law to protect nature after watering down rules that critics argued would trouble farmers.

The nature restoration law, a hotly contested pillar of the European green deal, will force EU countries to restore at least 20% of the bloc’s land and seas by the end of the decade. It contains binding targets to restore at least 30% of degraded habitats by then, rising to 60% by 2040 and 90% by 2050.

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Thursday briefing: Ukraine moves closer to joining the EU – what does that mean for Europe’s future?

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In today’s newsletter: Alongside Moldova, Ukraine is officially on the path to EU accession – what does that mean for the future of both countries and the continent?

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Good morning. Ukraine has been hoping for EU membership for decades, but the prospect of it actually happening only became likely after Russia’s invasion posed an existential threat to Europe for the first time since the second world war. Weeks after the war erupted in February last year, Ukraine and Moldova applied for membership of the EU; in June they were both granted candidate status.

After waiting just under 18 months, the European Commission announced yesterday that it was recommending that formal talks begin on Moldova and Ukraine joining the European Union.

Conservatives | Suella Braverman has launched a full-throated attack on policing “double standards” after the head of the Metropolitan police gave the go-ahead for a pro-Palestine march on Saturday, Armistice Day.

Israel-Hamas war | The US, for the second time in recent weeks, has carried out strikes against a weapons storage facility in eastern Syria that the Pentagon said was used by Iran’s Revolutionary Guards and affiliated groups, as fears grow that the Gaza war could spread in the region.

Strikes | The RMT union has reached a possible deal with train operators to resolve their long-running national rail dispute, allaying fears of a repeat of last year’s Christmas strikes.

Environment | Japan has gained another island to add to its already impressive collection, after an undersea volcanic eruption 1,200km south of Tokyo created a new landmass.

US news | Hollywood actors are set to end their nearly four-month strike, the Sag-Aftra union announced on Wednesday, bringing to a close a historic work stoppage that had brought the film and television industry to a standstill for months.

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Moldova and Ukraine’s accelerated path to EU marks Russia’s waning influence

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Invasion of Ukraine has fast-tracked timetable for the countries to join bloc after years of ‘economic warfare’

Long before Russia’s full-scale invasion of Ukraine, Moscow had already been accused of launching an economic war against its neighbours. With bullying, cajoling and outright threats, the Kremlin’s campaign to warn its former Soviet subjects away from the EU involved telling them they would be blocked from the Russian market and its own customs union, and face cutoffs of crucial supplies of natural gas.

Wednesday’s recommendation by the European Commission to open EU accession negotiations with Ukraine and Moldova marks the latest casualty of the Kremlin’s invasion of Ukraine: its own war for economic domination, or at least competitiveness, in eastern Europe.

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European Commission backs talks on Ukraine and Moldova EU membership

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Negotiations with Kyiv should formally be launched when it fulfils conditions in areas such as fighting corruption, report says

The European Commission has recommended that formal EU membership negotiations should begin with Ukraine and Moldova in a move its president, Ursula von der Leyen, described as a response to “the call of history”.

In a 1,200-page report on future enlargement of the 27-member bloc, the EU said talks should formally be launched once Kyiv satisfied remaining conditions related to stepping up the fight against corruption, adopting a law on lobbying in line with EU standards and strengthening national minority safeguards.

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European enlargement in ‘common interest’, Von der Leyen tells EU parliament – as it happened

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EU Commission president says there is ‘sense of urgency to unite European family’ as Ukraine and Moldova take first step towards joining

“The neighbourhood, our neighbourhood has to choose where they want to go,” the commission president, Ursula von der Leyen, said in her press conference.

“And the western Balkans, Georgia, Moldova and Ukraine chose very clearly where they want to go,” she added.

If you look into the report and you see the list of reforms, it shows determination, the steadfastness and the political will of the population the people.

I’m very confident that Moldova will move on because your track record is impressive under very difficult circumstances.

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EU expected to start process of Ukraine and Moldova becoming member states

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Key report will be first official stocktake of progress of nations in aligning themselves with the bloc

The EU is expected to fire the starting gun on the process of Ukraine and Moldova becoming member states, with a report expected to recommend formal negotiations on accession.

Moldova’s deputy prime minister, Nicolae Popescu, said such a move would be a big milestone for his country. “It will be a truly historical achievement and a truly historical chance to make sure that Moldova consolidates its place in the EU,” he said.

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Italy to create asylum seeker centres in Albania, Giorgia Meloni says

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Neighbouring country would house up to 3,000 people rescued at sea by Italian boats, with some exceptions for vulnerable groups

Italy’s far-right government has announced plans to create centres in Albania to accommodate asylum seekers, the prime minister said on Monday, hailing it as a “historic” deal with Tirana to manage migration flows.

“I am pleased to announce with Albanian prime minister Edi Rama a memorandum of understanding between Italy and Albania concerning the management of migration flows,” said Giorgia Meloni. “Italy is Albania’s top trading partner. There is already close collaboration in the fight against illegality.”

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Ukraine doesn’t want sympathy vote on joining EU, says deputy PM

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War-torn country will complete reforms required by bloc within two years, says Olga Stefanishyna before leaders’ summit

Ukraine will have completed the reforms required to get membership of the EU within two years, the deputy prime minister has said, insisting the country does not want a sympathy vote at a looming leaders summit to decide on enlargement of the bloc.

A review published on Wednesday is expected to reveal the European Commission position on whether negotiations should open or not with those countries most advanced with their accession reforms.

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Zelenskiy denies he is under pressure to enter peace talks with Russia

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Ukrainian president rejects war at ‘stalemate’ and points to similar lulls in 2022 before Kharkiv was liberated

The Ukrainian president, Volodymyr Zelenskiy, has rejected the idea western countries are putting pressure on Kyiv to enter peace talks with Russia.

It came after NBC reported US and European officials had spoken to the Ukrainian government about what possible peace negotiations with Russia might entail to end the war.

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Austria to work with UK on Rwanda-style plan for asylum seekers

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Suella Braverman signs ‘migration and security agreement’ with Austrian counterpart in move to work more closely together

Austria is seeking to adopt a Rwanda-style deal to deport asylum seekers to a third country, having agreed a deal to work with the UK on migration.

Suella Braverman signed a “migration and security agreement” with her Austrian counterpart, Gerhard Karner, in which the two countries agreed to work more closely together.

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The great powers signed up to Sunak’s AI summit – while jostling for position

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Even China is part of the UK’s ‘Bletchley declaration’ – but Britain is not the only country ambitious to lead on the issue

Sitting in a purpose-built hut in the grounds of the historic Bletchley Park country estate, British officials believed they had pulled off a diplomatic coup.

On stage in front of them was the UK’s technology secretary, Michelle Donelan, and behind her were high-level representatives from the US and China, together for the first time to discuss the international regulation of artificial intelligence.

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Germany proposes giving EU candidate countries observer status at summits

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Roadmap for expansion suggests integrating countries such as Ukraine into sections of EU before negotiations are complete

Germany has proposed a detailed and innovative roadmap to expand the EU that would give candidate countries such as Ukraine early benefits including observer status at leaders’ summits in Brussels before full membership.

The proposals by the foreign minister, Annalena Baerbock, amount to an offer of integrating candidate countries into sections of the EU long before technical negotiations for membership, which can drag on for years, are completed.

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