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☆ EU Countries to Demand Bloc Does More to Help Farmers, Draft Statement Says
▼ + stars: | 2024-03-12 | by ( March | At A.M. | ) www.usnews.com time to read: +2 min

By Jan Strupczewski and Kate AbnettBRUSSELS (Reuters) - European Union country leaders will urge the EU to work quickly on more measures to support farmers in response to months of protests by angry agriculture workers, draft conclusions for an EU leaders' summit showed. The EU has already watered down some environmental policies in response to the sometimes violent protests, but with farmers still taking to the streets this week in Belgium and France, Brussels is under pressure to do more. Draft conclusions for an EU summit on 21-22 March, seen by Reuters, showed EU country leaders plan to ask the European Commission to work without delay on "all possible short-term measures, including those to reduce the administrative burden and achieve simplification for farmers". The EU should also take action to strengthen the position of farmers in the food supply chain, and ensure they can earn a fair income, the draft said. The EU Environment Agency this week said current EU food policies are failing to address climate change risks.

Persons: Jan Strupczewski, Kate Abnett BRUSSELS, Kate Abnett, Jan Harvey Organizations: Union, EU, Reuters, Commission, EU Environment Agency Locations: Belgium, France, Brussels, Europe, Poland, Germany, Slovenia, EU

☆ EU Leaders Seek Deal to Fund Ukraine as Hungary Digs in Heels
▼ + stars: | 2024-01-31 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

The plan is to help cover Ukraine's 2024-2027 needs with 33 billion euros ($36 billion) in loans and 17 billion euros in grants. The money is to come from the EU budget to give Kyiv more predictable funding as it fights off Russia's invasion. The other 26 EU countries have rejected Hungary's demand, and they and Hungary have been in a stand-off since December. The EU cannot wait any longer because Ukraine is expected to run out of cash to run normal state functions in March. Orban's ambassador to the EU told his counterparts at a preparatory meeting on Wednesday that Budapest still wanted veto power.

Persons: Jan Strupczewski BRUSSELS, Viktor Orban, Orban, Jan Strupczewski, Tom Hogue Organizations: Union, Hungarian, EU, U.S . Congress, European, Budapest Locations: Ukraine, Kyiv, Hungary, Moscow, United States, EU

☆ EU Deal for Ukraine 'Difficult' Despite Move by Hungary -Official
▼ + stars: | 2024-01-30 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +1 min

BRUSSELS (Reuters) - Talks between European Union countries aimed at agreeing on more aid for Ukraine later this week remain "difficult", a senior EU official said on Tuesday, despite Hungary having signalled its readiness for a compromise. It has already once blocked the aid package and has also voiced opposition - along with EU paymaster Germany - to topping up the military fund. "We are not there yet," the EU official said under condition of anonymity, referring to preparations for the Thursday summit in Brussels of the leaders of the bloc's 27 member states. As the EU mounts pressure on Hungarian Prime Minister Viktor Orban to agree, the official said Budapest's conditions for lifting its veto on the financial assistance to Kyiv were not acceptable to the other EU countries. The official added that Hungary's EU peers did not want to agree to review any support to Kyiv every year as that would give Orban a veto each time.

Persons: Russia's, Viktor Orban, Orban, Jan Strupczewski, Gabriela Baczynska, Mark Heinrich Organizations: European Union, EU, Germany, Hungarian Locations: BRUSSELS, Ukraine, Hungary, Kyiv, Russia, Brussels

☆ EU states to start debating Ukraine membership talks on Tuesday
▼ + stars: | 2023-12-04 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +4 min

[1/2] European Union (EU) flags fly in front of the headquarters of the European Central Bank (ECB) in Frankfurt, Germany, July 8, 2020. The initial draft, dated Dec.4 and seen by Reuters on Monday, reads: "The European Council decides to open accession negotiations with Ukraine and with Moldova." For Bosnia, the initial draft stated the bloc was "ready to open EU accession negotiations... once the necessary degree of compliance with the membership criteria is achieved". All three decisions would require unanimous backing of the 27 EU countries. "In our perception, no conditions for Ukraine to start accession talks are met," Hungarian government spokesman Zoltan Kovacs told journalists separately on Monday.

Persons: Ralph Orlowski, Zoltan Kovacs, Charles Michel, Kovacs, Viktor Orban, Michel, Gabriela Baczynska, Jan Strupczewski, Mark Heinrich Our Organizations: European Union, European Central Bank, REUTERS, Rights, European Commission, EU, Kyiv, Reuters, European Council, Commission, Ukraine, Thomson Locations: Frankfurt, Germany, Ukraine, Hungary, Moldova, Georgia, Bosnia, Soviet, Kyiv, EU, Caucasus, Tbilisi, Budapest, Hungarian, Brussels

☆ EU Commission proposes Russian diamond ban, tightening of oil price cap - diplomats
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Cut diamonds are seen at the diamond exchange in Antwerp, as the G7 weighs a ban on Russian diamond imports to reduce revenues for Moscow's war in Ukraine, Antwerp, Belgium, October 30, 2023. REUTERS/Johanna Geron/File Photo Acquire Licensing RightsBRUSSELS, Nov 15 (Reuters) - The European Commission proposed late on Tuesday to ban imports of diamonds and liquid petroleum gas from Russia and to tighten the implementation of a price cap on Russian oil as part of a new sanctions package against Moscow, EU diplomats said on Wednesday. To tighten the implementation of the oil price cap, set by G7 countries at $60 per barrel of crude, the package calls for shipping companies to detail shipping and insurance costs for the Russian oil cargoes they carry. The price cap is now widely bypassed by Russia's shadow fleet of tankers by falsified documents, according to shipping analysts. "The logic of imposing more transparency is to prevent shipping companies from hiding the real price of the oil carried by the tanker by merging it with shipping and insurance costs," one EU diplomat said.

Persons: Johanna Geron, Jan Strupczewski, Alexandra Hudson Organizations: REUTERS, Rights, European Commission, European Union, Alexandra Hudson Our, Thomson Locations: Antwerp, Ukraine, Belgium, Rights BRUSSELS, Russia, Moscow, Europe

☆ Euro zone Q3 GDP shrinks, but employment rises
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Fabian Bimmer/File Photo Acquire Licensing RightsBRUSSELS, Nov 14 (Reuters) - The euro zone economy contracted marginally quarter-on-quarter in the third quarter, a new estimate confirmed on Tuesday underlining expectations of a technical recession if the fourth quarter turns out equally weak, but employment still rose. The European Union's statistics office Eurostat confirmed its estimate from Oct 31 that gross domestic product in the 20 countries sharing the euro fell 0.1% quarter-on-quarter in the July-September period for a 0.1% year-on-year rise. European Central Bank vice president Luis de Guindos said last week the euro zone economy was likely to contract slightly or at best stagnate in the fourth quarter after business activity data for October showed further weakening of demand in the dominant services industry. But contrary to the usual trend when the economy weakens, employment in the euro zone rose 0.3% quarter-on-quarter in the same period, for a 1.4% year-on-year increase. The growth slump is caused by strong headwinds from high inflation and record high interest rates as well as the slowly tightening fiscal policy.

Persons: Fabian Bimmer, Luis de Guindos, De Guindos, Jan Strupczewski Organizations: Shipping, REUTERS, Rights, European Central Bank, ECB, Thomson Locations: Hamburg, Germany, Rights BRUSSELS, France, Spain, Belgium, Italy, Austria, Portugal, Ireland, Estonia, Lithuania

But some worry the aid could be blocked by Hungary's Prime Minister Viktor Orban who has touted his ties with Moscow and objected to similar support in the past. Asked for comment, Hungarian government spokesman Zoltan Kovacs said that any financial aid to Ukraine should be separate from the EU budget. "The issue of money for Ukraine will be solved one way or another, Kyiv will get EU support," the official said. BILLIONS AT STAKELast year, Hungary vetoed a similar proposal to give 18 billion euros in financial assistance to Ukraine in 2023. EU officials told Reuters last month that they were looking at unlocking at least some of that money as the bloc seeks to win Orban's vote for Ukraine.

Persons: Viktor Orban, Zoltan Kovacs, Valdis Dombrovskis, Orban, Jan Strupczewski, Gabriela Baczynska, Andrew Heavens, Toby Chopra Organizations: Moscow, Russia, Kyiv, European, Hungary's, EU, Trade, Ukraine, Hungary, Reuters, Thomson Locations: Hungary, Moscow Ukraine, BRUSSELS, BUDAPEST, Ukraine, Kyiv, Brussels, Moscow, EU, Budapest, Russia

☆ Euro zone Q3 GDP growth weaker than expected
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, Oct 31 (Reuters) - Euro zone economic growth was weaker than expected in the third quarter, a flash estimate showed on Tuesday, with gross domestic product contracting slightly quarter-on-quarter and the year-on-year growth rate slowing sharply. The European Union's statistics office Eurostat said GDP in the 20 countries sharing the euro fell 0.1% quarter-on-quarter in the July-September period for a 0.1% year-on-year rise. Economists polled by Reuters had expected a 0.0% quarterly growth and a 0.2% year-on-year gain. Eurostat data showed 0.1% quarterly growth in France, 0.3% in Spain and 0.5% in Belgium, but that failed to offset a 0.1% quarterly slump in Germany, no growth in Italy, and contractions in Austria, Portugal, Ireland, Estonia and Lithuania. The euro zone economy is facing strong headwinds from high inflation and record high interest rates and slowly tightening fiscal policy.

Persons: Jan Strupczewski Organizations: Reuters, Eurostat, Thomson Locations: BRUSSELS, France, Spain, Belgium, Germany, Italy, Austria, Portugal, Ireland, Estonia, Lithuania

Overall EU support for Ukraine has totalled almost 83 billion euros since Russia invaded in February 2022, the Brussels-based executive European Commission said this week. Slovakia's Robert Fico, attending his first EU summit since being appointed for his fourth term as prime minister on Wednesday, adopted a similar line. Orban has also said he would not endorse in its current form the proposed EU budget revision, which includes the 50 billion in new aid for Kyiv. Fico said there was endemic corruption in Ukraine and demanded that any new EU aid include guarantees that the funds not be misappropriated, according to a statement from his office. "The questions are, what type of aid and how it is used, how we are sure, the European Union is sure, that this aid is used efficiently," he said.

Persons: Fico, Orban, Olaf Scholz, Slovakia's Robert Fico, Vladimir Putin, Nikolai Denkov, Jan Strupczewski, Phil Blenkinsop, Bart Meijer, Tassilo Hummel, Marine Strauss, Krisztina, Jason Hovet, Miranda Murray, Gabriela Baczynska, Philippa Fletcher Organizations: Ukraine New, Union, EU, Ukraine, European Commission, Russia, Kyiv, European Union, European, Bulgarian, Thomson Locations: Ukraine, Ukraine New Slovak, Ukraine BRUSSELS, Russian, Hungary, Slovakia, Brussels, Russia, SLOVAKIA, HUNGARY Hungary, Budapest, Bratislava, European Union

☆ Hungary's Orban Says Is 'Proud' of Putin Meeting
▼ + stars: | 2023-10-26 | by ( Oct. | At A.M. | ) www.usnews.com time to read: 1 min

BRUSSELS (Reuters) - Hungarian Prime Minister Viktor Orban said on Thursday that he was "proud" of his contacts with Russian President Vladimir Putin, whom he met in China this month despite European Union efforts to isolate Moscow for waging a war against Ukraine. Orban spoke on arriving to a summit of the EU's 27 national leaders in Brussels. He drew criticism for his talks with Putin, which had been organised with great pomp. Therefore we keep open all the communication lines to the Russians, otherwise there will be no chance for peace. This is a strategy, we are proud of it," Orban told reporters.

Persons: Viktor Orban, Vladimir Putin, Orban, Putin, Gabriela Baczynska, Marine Strauss, Jan Strupczewski Organizations: European Union, Ukraine Locations: BRUSSELS, Hungarian, China, Moscow, Brussels, Europe

☆ 'Positions Not Matching Yet' as EU Leaders Fight for Slice of Budget Pie
▼ + stars: | 2023-10-26 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +3 min

The bloc's executive proposed that member states chip in more to the shared coffers to provide 50 billion euros to Ukraine and spend another 15 billion on migration. Budgetary decisions require unanimity and divisions were on display on Thursday as the bloc's 27 national leaders arrived for a summit in Brussels. On the bloc's eastern flank, Estonian Prime Minister Kaja Kallas said that - beyond supporting Ukraine - joint spending should grow for improving EU defence capabilities. Lithuania said 50 billion euros for Ukraine was not enough. Orban's comments come as his government is trying to unlock billions in aid envisaged for Hungary in the EU budget but blocked by the European Commission over rule of law concerns.

Persons: Gabriela Baczynska, Jan Strupczewski BRUSSELS, Alexander de Croo, Kaja Kallas, Kyriakos, Hungary's Viktor Orban, Orban, that's, Ireland's Leo Varadkar, Olaf Scholz, Marine Strauss, Krisztina, Tassilo Hummel, Rene Maltezou, Jan Strupczewski, Tomasz Janowski Organizations: European Union, EU, Belgian, European Commission, Diplomats Locations: Ukraine, Russia, Brussels, Estonian, Lithuania, Greece, East, Africa, Budapest, Hungary, Austria, Western Balkans, Germany

EU leaders including French President Emmanuel Macron and German Chancellor Olaf Scholz have visited the Middle East to express solidarity with Israel and bolster diplomatic efforts to prevent the conflict spiralling into a regional war. "These developments require our immediate attention, without distracting us from our continued support to Ukraine." The EU and its member countries have provided billions of euros in assistance to Ukraine since Russian forces invaded in February last year. At the summit, the leaders will have their first debate on that budget package, which diplomats expect to be contentious. "It's hard to ask for more money for the EU budget when national budgets are getting squeezed," said one EU diplomat.

Persons: Emmanuel Macron, Olaf Scholz, Charles Michel, Volodymyr Zelenskiy, Julia Payne, Philip Blenkinsop, Jan Strupczewski, Angus MacSwan Organizations: Union, Ukraine, Hamas, EU, Diplomats, French, European Council, Kyiv, year's, European Commission, Thomson Locations: BRUSSELS, Israel, Brussels, Palestinian, Gaza, Europe, Ukraine, Russian, United States, EU

But days later, Lamdani was left to identify the bodies of her relatives at a makeshift morgue in the southern city of Khan Younis. "They told us to evacuate your place and go to Khan Younis because it is safe... Lamdani's family was staying at a temporary shelter in Khan Younis when she said: "At 4.30 a.m. "But, ultimately, Hamas has entrenched itself among the civilian population throughout the Gaza Strip. At one United Nations school in Khan Younis, Nasser Abu Amer, his wife and eight children, said they were desperate for food and water.

Persons: Family, Dima Al, Lamdani, Khan Younis, Dima Allamdani, U.N, Fahrettin Koca, Nasser Abu Amer, Amer, Dan Williams, Aidan Lewis, Jan Strupczewski, Michael Georgy, Janet Lawrence Organizations: Hamas, IDF, Israel Defense Forces, European Union, Health, United Nations, Thomson Locations: Gaza City, Rafah, Egypt, GAZA, Beach, Khan, Gaza, Palestinian, Israel, EGYPT, Israeli, Turkey

☆ EU to call for "humanitarian pause" in Israel-Hamas war - draft eu summit conclusions
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +1 min

BRUSSELS, Oct 23 (Reuters) - European Union leaders will call this week for a "humanitarian pause" in the Israel-Hamas war so that humanitarian aid for Palestinians in Gaza can safely reach those in need, draft conclusions of an EU summit showed. Leaders of the 27 countries that make up the European Union will meet in Brussels on Thursday and Friday, in what is called a European Council, and the situation in the Middle East will be high on their agenda. "The European Council supports the call of UNSG Guterres for a humanitarian pause in order to allow for safe humanitarian access and aid to reach those in need," the draft conclusiions of the summit showed. "The European Union will work closely with partners in the region to protect civilians, support those who are trying to get to safety or provide assistance, and facilitate access to food, water, medical care, fuel and shelter. It reiterates the need for the immediate release of all hostages without any precondition," said the draft, seen by Reuters.

Persons: Jan Strupczewski Organizations: Union, European Union, European Council, European, Reuters, Thomson Locations: BRUSSELS, Israel, Gaza, Brussels

EU officials also drafted a statement in support of the proposal for an EU summit later this week, although they cautioned the text could still change in the coming days. "There's a vital need to get water, to get food, to get medical supplies into Gaza," said Irish Foreign Minister Micheal Martin. Some questioned whether a pause would impede Israel's right to defend itself as it seeks to destroy Hamas positions in Gaza. But Israel has the right to self-defence," said Austrian Foreign Minister Alexander Schallenberg. Czech Foreign Minister Jan Lipavsky questioned "how such a ceasefire should be established with a partner inside Gaza, where the Hamas terrorist organisation now is controlling the situation".

Persons: Josep Borrell, Juan Medina, Antonio Guterres, Borrell, Micheal Martin, Annalena Baerbock, Israel, Alexander Schallenberg ., Jan Lipavsky, Andrew Gray, Bart Meijer, Jan Strupczewski, Charlotte Van Campenhout, Alison Williams Organizations: European Union for Foreign Affairs, REUTERS, Rights, Hamas, U.N, United Nations, Irish, Austrian, Thomson Locations: Granada, Spain, Rights BRUSSELS, Israel, Palestinian, Gaza, Egypt, Rafah, Luxembourg, France, Netherlands, Ireland, Slovenia, Germany, Alexander Schallenberg . Czech

☆ Options for G7 discussion for a ban on Russian diamonds
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +5 min

Enforcement would be government regulated through customs at a single point of entry for rough diamonds and several G7 entry points for polished stones. The proposal said a single entry point would be needed for rough diamonds without specifying where. Antwerp would be the favoured option for Belgium and the city also already handles most of the rough diamond trade. WORLD DIAMOND COUNCILThe World Diamond Council, which includes the world's largest rough diamond producer by value, De Beers, has proposed a version of the ban that is largely self-regulating. Any diamond sellers would then have to include with the stone they sell a declaration called the "G7 Diamond Protocol Declaration" that the diamond is not Russian.

Persons: De Beers, Sellers, De, WDC, Julia Payne, Jan Strupczewski, David Evans Organizations: Reuters, World Diamond Council, Belgian, Export Promotion Council, WORLD DIAMOND, Diamond Council, Russian, Thomson Locations: Ukraine, Belgium, India, France, BELGIUM, Antwerp, Russian, Botswana, INDIA, Surat, Mumbai, FRANCE

[1/8] Police barricade tape is seen at a cordoned-off area after a police operation in Schaerbeek near Brussels, Belgium October 17, 2023. REUTERS/Bart Biesemans Acquire Licensing RightsBRUSSELS, Oct 17 (Reuters) - Belgian police on Tuesday shot and wounded a 45-year-old Tunisian suspected of killing two Swedish football fans in Brussels, Belgian media said. Interior Minister Annelies Verlinden said earlier the wounded man was suspected of being the gunman. The suspected gunman, calling himself Abdesalem Al Guilani, claimed in a video on social media that he was a fighter for Allah. According to a media transcript of the video message recorded by the self-declared perpetrator, he said he had killed Swedes to take revenge in the name of Muslims.

Persons: Bart Biesemans, Annelies Verlinden, Verlinden, Philippe Close, BFM, Alexander De Croo, De Croo, de Croo, Vincent Van Quickenborne, Abdesalem Al Guilani, Philip Blenkinsop, Bart Meijer, Benoit van Overstraeten, Jan Strupczewski, Tassilo Hummel, Zhifan Liu, Ingrid Melander, Gerry Doyle, Christina Fincher, Nick Macfie Organizations: Police, REUTERS, Rights, Belgian, Islamic State, Red Devils soccer, Palestinian, Thomson Locations: Schaerbeek, Brussels, Belgium, Rights BRUSSELS, Belgian, Sweden, Israel

The EU is typically one of the most ambitious negotiators at the annual United Nations climate talks, where nearly 200 countries negotiate efforts to fight global warming. A central decision will be whether countries at the COP agree for the first time to phase out fossil fuels. EU countries must agree their negotiating position unanimously, meaning one government can block it. EU countries opposing a full phase-out include poorer nations who fear the impact of weaning their economies off fossil fuels. The brackets around "unabated" indicate EU countries have not yet agreed on the word.

Persons: Rula, EU's, Kate Abnett, Jan Strupczewski, Emelia Organizations: Abu Dhabi Sustainability, REUTERS, Union, EU, United Nations, Reuters, Thomson Locations: UAE, Abu Dhabi, BRUSSELS, United, Dubai, Denmark, France, Germany, Ireland, Netherlands, Slovenia, Czech Republic, Hungary, Italy, Malta, Poland, Slovakia, Saudi Arabia

☆ Two Swedes shot dead in Brussels, Belgium raises terror alert to top level
▼ + stars: | 2023-10-16 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +5 min

The suspected assailant fled the scene after the shooting as a football match between Belgium and Sweden was about to start, triggering a massive manhunt and prompting Belgium to raise its terror alert to the highest level. The federal prosecutor said the third victim, who was wounded but not in life-threatening condition, was a taxi driver. Belgian Prime Minister Alexander de Croo confirmed on social media platform X, formerly known as Twitter, that the victims were Swedish. "I have just offered my sincere condolences to the Swedish PM following tonight’s harrowing attack on Swedish citizens in Brussels," de Croo said on X. France is tightening controls at the border with Belgium after the deadly attack in Brussels, Belgian media said.

Persons: Abdesalem Al Guilani, Alexander de Croo, de Croo, Gunnar Strommer, Ulf Kristersson, King, Yves Herman Acquire, King Baudouin, Emmanuel Macron, Allahu Akbar, Al Guilani, hamdoulelah, Salam Aleykoum, Philip Blenkinsop, Marine Strauss, Anna Ringstrom, Terje Solsvik, Richard Lough, John Cotton, Jan Strupczewski, Silvia Aloisi, Hugh Lawson, Matthew Lewis Organizations: State, Palestinian, European Commission, Belgian, PM, Sweden's, Reuters, Government, Swedish, Thomson Locations: BRUSSELS, Brussels, Belgium, Sweden, Belgian, Israel, jihadists, Swedish, France, Islamic State

☆ Two Swedes shot dead in Brussels; Belgium raises terror alert to top level
▼ + stars: | 2023-10-16 | by ( Philip Blenkinsop | ) www.reuters.com time to read: +5 min

The likely motive for the attack was the Swedish nationality of the victims, the prosecutor said. The suspected assailant, calling himself Abdesalem Al Guilani, claimed in a video on social media that he was a fighter for Allah. Belgian Prime Minister Alexander de Croo confirmed on social media platform X, formerly known as Twitter, the victims were Swedish. "I have just offered my sincere condolences to the Swedish PM following tonight’s harrowing attack on Swedish citizens in Brussels," de Croo said on X. France is tightening controls at the border with Belgium after the deadly attack in Brussels, Belgian media said.

Persons: Abdesalem Al Guilani, Alexander de Croo, de Croo, Gunnar Strommer, King, Yves Herman Acquire, Ulf Kristersson, Emmanuel Macron, Allahu Akbar, Al Guilani, hamdoulelah, Salam Aleykoum, Philip Blenkinsop, Marine Strauss, Anna Ringstrom, Terje Solsvik, Richard Lough, John Cotton, Gabriela Baczynska, Stephanie Lecocq, Tassilo Hummel, Benoit van Overstraeten, Tommy Lund, Jan Strupczewski, Silvia Aloisi, Hugh Lawson, Matthew Lewis, Gerry Doyle Organizations: Islamic State, Palestinian, European Commission, Belgian, Twitter, PM, Sweden's, Reuters, Swedish, Thomson Locations: BRUSSELS, Brussels, Belgium, Sweden, Belgian, Israel, Swedish, France, Islamic State

High funding needs and central banks removing support are increasing pricing uncertainty for investors, Sophia Drossos, hedge fund Point72 Asset Management's chief economist, said. Spending plans lacking credibility were seen as most likely to spark market turmoil. I suspect not by default, but when markets start reflecting their worries in Treasury prices, by a political crisis and a potentially ugly adjustment," the former IMF chief economist said. "We need more investment, not less," said King's College London professor Jonathan Portes, Britain's cabinet office chief economist during the financial crisis. Not enough reforms are being implemented, OECD chief economist Clare Lombardelli warned.

Persons: Andrew Kelly, Peter Praet, Praet, Sophia Drossos, Daniel Ivascyn, Claudio Borio, Olivier Blanchard, Ray Dalio, Janet Yellen's, Yellen, Jim Leaviss, Giancarlo Giorgetti, Daleep Singh, Joe Biden, Britain's, Yellen's, Jonathan Portes, Clare Lombardelli, Moritz Kraemer, Yoruk Bahceli, Maria Martinez, Leigh Thomas, Giuseppe Fonte, Nell Mackenzie, Naomi Rovnick, William Schomberg, Jan Strupczewski, Dan Burns, Elisa Martinuzzi, Riddhima Talwani, Jayaram, Emelia Sithole Organizations: Financial, of, REUTERS, Institute of International Finance, Reuters, European Central Bank, ECB, Bank for International, Peterson Institute for International Economics, Associates, U.S . Treasury, Wall, Economy, Britain's Treasury, Congressional, Britain's, Institution, Reuters Graphics ACT, King's College London, Labour Party, OECD, Graphics, Thomson Locations: of Manhattan , New York City, U.S, Italy, Britain, United States, Europe, Ukraine, Berlin, Paris, Rome, London, Brussels, Washington, Marrakech

High funding needs and central banks removing support are increasing pricing uncertainty for investors, Sophia Drossos, hedge fund Point72 Asset Management's chief economist, said. Spending plans lacking credibility were seen as most likely to spark market turmoil. I suspect not by default, but when markets start reflecting their worries in Treasury prices, by a political crisis and a potentially ugly adjustment," the former IMF chief economist said. Italy's 2.4 trillion-euro debt pile is the focus in Europe, where the IMF has said high debt leaves governments vulnerable to crisis. "We need more investment, not less," said King's College London professor Jonathan Portes, Britain's cabinet office chief economist during the financial crisis.

☆ Poland set for high-stakes election amid disputes over EU, democracy
▼ + stars: | 2023-10-11 | by ( Alan Charlish | ) www.reuters.com time to read: +5 min

[1/2] Donald Tusk, the leader of the largest opposition grouping Civic Coalition (KO), walks towards an election convention in Lodz, Poland, October 10, 2023. "I know... that they are planning systematically, in cold blood, to take Poland out of the European Union," Donald Tusk, leader of the largest opposition grouping Civic Coalition (KO) told supporters. He repeated these words very often," PiS leader Jaroslaw Kaczynski told a campaign rally, hammering home his party's message that Tusk is a German stooge. The KO leader said he would unblock billions in funds withheld by the EU over rule-of-law concerns on day one after winning the election. Opinion polls suggest that PiS will remain the largest party in parliament but may fall short of a majority.

Persons: Donald Tusk, Kacper, PiS, Jaroslaw Kaczynski, Tusk, Andrzej Duda, Szymon Holownia, Alan Charlish, Jan Strupczewski, Gareth Jones Organizations: Civic Coalition, REUTERS, Sunday, Ukraine WARSAW, European Union, Law and Justice, European, PiS, NATO, Confederation, Thomson Locations: Lodz, Poland, Ukraine, Germany, German, European, Belarus, Warsaw, Brussels

☆ EU accession: List of countries to join the bloc
▼ + stars: | 2023-10-04 | by ( ) www.reuters.com time to read: +5 min

CANDIDATE COUNTRY STATUSTURKEY (candidate since 1999). While still officially a candidate country, Turkey's accession talks with the EU have long been frozen, largely over human rights and governance concerns. It was given the green light for accession talks in 2020 after changing its name from Macedonia to North Macedonia to satisfy Greek sensitivities. The small Balkan country applied for EU membership in 2008. Since 2016, the EU has had a Stabilisation and Association Agreement with Kosovo that serves as a basis for its accession path.

Persons: Viktor Yanukovych, Jan Strupczewski, Mark Heinrich Our Organizations: Union, EU, NORTH, European Commission, Commission, Thomson Locations: BRUSSELS, Granada, TURKEY, NORTH MACEDONIA, Macedonia, North Macedonia, Bulgaria, MONTENEGRO, SERBIA, ALBANIA, EU, Albania, MOLDOVA, Moldova, UKRAINE, Kyiv, Russia, Ukraine, Crimea, BOSNIA, HERZEGOVINA, Bosnia, GEORGIA, Georgia, Tbilisi, KOSOVO, Brussels, Kosovo, Serbia

☆ Billions in frozen funds for Hungary on table as EU seeks Ukraine support
▼ + stars: | 2023-10-03 | by ( Gabriela Baczynska | ) www.reuters.com time to read: +4 min

"I can't imagine Hungary agreeing without there first being a solution to the blocked funds," said the official. A second EU official confirmed there was a link between releasing funds to Hungary and EU plans requiring unanimity, including in the enlargement and budget talks. The Commission needs Hungary to lift its vetoes on a number of issues in return," said an EU diplomat. For Ukraine, which applied to join the EU just days after Russia's invasion in February 2022, the West's support is existential and EU membership is a major national goal. Speaking to the Hungarian parliament last week, he drew a line between supporting Ukraine and unlocking EU funds.

Persons: Viktor Orban, Orban, Gabriela Baczynska, Jan Strupczewski, Andrew Gray, Gareth Jones Organizations: Budapest, Ukraine, Hungary BRUSSELS, European, Kyiv, EU, Reuters, Financial, European Union, Thomson Locations: Hungary, Ukraine, Brussels, EU, European Union, Russia, Budapest, Krisztina

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