Leaders from the European Union’s 27 member states will meet in Brussels on Thursday to find ways to succour Ukraine and to rethink some of its own security arrangements. Europe is hastily adjusting its thinking on defence as American policy under President Donald Trump looks ever-less predictable. A plan will be presented for the EU to help member states borrow from a fund of €150 billion ($161 billion) to spend on defence, some of which would be used to boost Ukraine’s war effort. EU fiscal rules that constrain spending also look likely to be relaxed so that national governments can splurge up to 1.5% of GDP more on defence.
Tag: Germany
Trump to Mediate Peace between Russia and Ukraine
Nobody expects Donald Trump to end the Ukraine war in 24 hours, as he has claimed he could in the past. However, the new administration, which takes office on January 20th, is highly invested in bringing both sides to the negotiating a peace deal. But even that may prove difficult. In an Interview on December 30th the Russian foreign minister, Sergei Lavrov, slammed leaked proposals from Trump’s team for a peace deal. Putin, who believes Russia is winning, has given no sign of retreating from his maximalist goals.
Post-Assad, Rebels Set to Represent Syria at the UN
On Tuesday, the UN Security Council publicly discusses Syria for the first time since the fall of Bashar al-Assad. Eyes will be on the Syrian delegation, appointed by the Assad government but thus far kept in post, and the old regime’s ally, Russia. The Kremlin’s diplomats are said to be co-operative; Russian media now call Hayat Tahrir al-Sham, the dominant rebel force, an “armed” rather than a ‘terrorist’ group. Nevertheless, America is wary of letting Russia use its veto power to shape the transition to its liking.
China Promised to Vigourously Boost Consumption
After their annual Central Economic Work Conference, which finished on Thursday, China’s leaders promised to “vigourously” boost consumption. New economic figures released on Monday will illustrate the size of the task ahead of them. Retail sales probably grew by about 4.5 percent in nominal terms in November, compared with a year earlier. That would be slower than the previous month, which was boosted by an early start to the “Singles’ Day” shopping festival. Consumer-price inflation, which has already been released, was only 0.2 percent, another symptom of weak spending.
The Group of Seven is the new Saviour of Africa
Group of Seven (G7) is an informal grouping of advanced democracies (Canada, France, Germany, Italy, Japan, United Kingdom and the United States) that meets annually to coordinate global economic policy and address other transnational issues. The G7 plays a significant role in global governance, as its member countries are among the world’s largest economies and have a substantial impact on international relations. The G7’s engagement in Africa is crucial for sustainable development, as the continent faces numerous challenges, including poverty, climate change, and security threats.