Europe
Ceuta border crisis exposes EU unity gaps before China trade showdown
A surge of 72,000 migrants into the Spanish enclave in late July killed at least 75 people and revealed how quickly member states fracture when one faces external pressure.
Energy and Industry Correspondent
Peter van den Berg
Peter van den Berg covers European energy markets and the industrial economics of decarbonisation. He worked in grid planning for eight years before turning to journalism, and is unusually interested in connection queues.
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- Energy markets · Industrial policy · Grid infrastructure
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- Rotterdam
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Recent articles
Europe
ECB study reveals Europeans hunt jobs from fear, Americans for pay
Only 13% of employed euro-area workers actively search for a new post versus 19% in the US, but the motivation gap is wider than the participation gap.
Business
ECB holds rates at 2.25% but traders bet on September hike as energy prices surge
The European Central Bank left its key rate unchanged on Thursday, yet Christine Lagarde warned that Middle East conflict could push inflation above target until 2027, prompting markets to price in a quarter-point increase in September.
Europe
Hormuz conflict forces ECB to weigh rate hold as oil surges past $85
Renewed US-Iran strikes over the Strait of Hormuz have pushed Brent crude above $85 a barrel, scrambling market expectations for the ECB's July 22 meeting and reviving fears of a second inflation spike.
Europe
EU lawmakers approve digital euro negotiations, targeting 2029 launch
European Parliament backs mandate for talks with member states on legal framework; ECB aims for citizen access in 2029 after pilot in mid-2027, with €3,000 holding limit proposed to calm bank deposit fears.
Business
Europe's heatwave drives Chinese air conditioner surge as Brussels tightens trade policy
Record temperatures force consumers toward affordable Chinese cooling units even as the European Commission prepares new trade restrictions on Beijing, exposing a gap between climate reality and industrial strategy.
Europe
European Parliament committee backs digital euro to break US payment dominance
Economic and monetary affairs committee votes to advance legislation after years of deadlock, with MEPs framing the project as a geopolitical necessity rather than a purely monetary one.
Europe
Hungary's Tisza government submits anti-corruption package to unlock frozen EU funds
The 109-page legislative programme targets asset declarations, public procurement and hidden oligarch wealth, going beyond the European Commission's 27 super milestones that Orbán's governments failed to meet.
Europe
ECB set to raise rates as energy shock keeps inflation above target
The European Central Bank is expected to lift its deposit rate to 2.25% on Thursday, confronting a renewed surge in energy costs that has pushed headline inflation to 3.2% and core inflation to 2.5% in May.
Europe
ECB poised for first rate rise of 2026 as ministers push stalled capital markets union
Governing council meets Thursday with markets pricing a quarter-point move while finance ministers gather in Luxembourg to revive the long-delayed plan for a single EU capital market.
Europe
Montenegro leads EU enlargement queue as bloc debates new accession model
Brussels has opened the first accession treaty working group in 17 years for Montenegro, but disagreement over veto rights, staged integration and institutional reform threatens to stall wider enlargement.
Europe
ECB and Bank of England set to hold rates as Iran conflict fuels stagflation fears
Both central banks meet Thursday with inflation above target but growth weakening; economists expect a pause now and a possible ECB hike in June while the BOE may stay on hold all year.
Business
Iran ceasefire calms markets but Europe faces months of energy disruption
A two-week truce triggered a relief rally, yet damaged Gulf infrastructure and unresolved shipping risks mean higher gas prices and supply shortages will persist through winter.
Europe
EU foreign policy paralysis fuels push to scrap national vetoes
Germany and Sweden lead calls to end unanimity as Hungary blocks €90 billion Ukraine loan and West Bank settler sanctions, exposing a system unable to match the speed of geopolitical crises.
Europe
Europe faces another energy crisis as Middle East conflict exposes persistent vulnerabilities
Four years after vowing to end reliance on Russian gas, the EU finds itself dependent on US LNG and Norwegian pipeline gas, with prices surging 20 percent after the Strait of Hormuz closure.
Europe
EU energy ministers meet as Iran war drives gas prices to 2023 highs
Persian Gulf closure pushes European benchmark prices up sharply, reviving fights over electricity market design, the emissions trading system and the pace of electrification.
Business
European Commission proposes Industrial Accelerator Act to shield clean tech from Chinese competition
Draft regulation would require 70% EU content in publicly procured electric vehicles and mandate low-carbon materials, marking a decisive break from open-market orthodoxy.
Business
Middle East conflict drives European energy prices higher as gas storage falls to three-year low
Benchmark gas prices jumped on Monday after disruption to Middle East supply routes coincided with EU storage levels at 46 billion cubic metres, the lowest February figure since 2023, raising industrial cost pressures before the summer refill season.
Europe
Bundesbank chief breaks with German orthodoxy to back permanent EU joint debt
Joachim Nagel argues Europe needs a permanent joint borrowing instrument to finance defence and technology, putting the Bundesbank at odds with Chancellor Merz and marking a historic shift for Germany's central bank.
Business
ECB holds rates at 2% but economists warn February meeting was no non-event
With inflation at 1.7% and the euro up 14% in a year, the central bank faces competing pressures that could force a shift sooner than markets expect.
Business
Euro hits $1.20 as dollar slides, reviving ECB intervention debate
The single currency reached its highest level against the dollar since 2021 while Trump welcomes the greenback's decline. Economists are split on whether the eurozone can absorb another competitiveness shock.
Business
AI power demand revives fossil fuels even as renewables hit cost parity
Europe's stalled electricity demand had cooled renewable investment. Now data centres are forcing a rethink that keeps gas plants running into the 2060s while solar and wind costs plunge below fossil alternatives.
Europe
Europe's US gas dependence creates strategic vulnerability
A new study shows the EU and UK now rely on American LNG for the majority of imported gas, replacing Russian pipelines with a supplier whose president explicitly treats energy exports as a tool of geopolitical leverage.
Europe
Croatia's Vujčić wins surprise ECB vice presidency vote
Eurozone finance ministers defied parliament and frontrunner expectations to back the Croatian central bank governor, reshaping the race for the ECB's top jobs over the next two years.
Europe
Bulgaria joins eurozone as 21st member amid public division and political turmoil
The lev disappears on 1 January after a fixed conversion rate of 1.95583 to the euro. Polls show the country almost evenly split, while the outgoing government collapsed weeks before the changeover.
Europe
Bulgaria to adopt euro on 1 January 2026 amid political turmoil and corruption concerns
The Balkan nation becomes the 21st eurozone member despite seven elections in four years, a resigned government and warnings that institutional weakness could undermine the currency's benefits.
Europe
ECB holds deposit rate at 2% as eurozone growth beats expectations
The European Central Bank kept its key rate unchanged for a third meeting, citing resilient growth and inflation near target, while warning that trade tensions and geopolitical risks cloud the outlook.
Europe
Zelensky urges EU leaders to accelerate drone defence shield
Ukrainian president joins Copenhagen summit as European leaders endorse coordinated air defence network following Russian drone incursions across northern and eastern Europe.
Europe
ECB's Šimkus backs seizure of Russian assets for Ukraine, breaking with Lagarde
Lithuanian central bank governor argues Ukraine's defeat would damage the euro more than using frozen Kremlin funds, as EU leaders prepare to discuss €140 billion Euroclear proposal in Copenhagen.
Europe
Digital euro rapporteur faces criticism over banking industry ties
MEP Fernando Navarrete has held 77 percent of his digital euro meetings with private financial firms since taking the file in July 2024, while civil society groups argue his stance protects incumbent banks.
Europe
Eurozone inflation ticks up to 2.1% in August, keeping ECB on hold
Flash estimate beats expectations as services inflation eases to lowest since March 2022; analysts see no rate move at next week's meeting
Europe
Lagarde warns Europe's growth depends on migrant labour as political backlash builds
ECB president tells Jackson Hole that foreign workers supplied half of eurozone employment gains since 2022, but governments are restricting entry under far-right pressure.
Business
EU suspends €93bn retaliatory tariffs on US goods after July framework deal
Brussels freezes countermeasures due to start August 7 while both sides flesh out a framework that still leaves EU exports facing 15 percent across-the-board US duties.
Business
EU-US tariff deal unravels as Brussels and Washington publish conflicting texts
The 15% blanket tariff takes effect while negotiators argue over pharmaceuticals, steel quotas, energy purchases and defence commitments that exist only in the White House version.
Business
Trump and von der Leyen agree 15% tariff deal averting EU-US trade war
The agreement imposes a 15% tariff on most European goods including cars, below the 30% threatened but above the 10% baseline the EU sought, while Brussels commits to $750 billion in US energy purchases and $600 billion in additional investment.
Europe
EU prepares trade bazooka as Trump deadline looms
Brussels readies €93 billion retaliation package and weighs unprecedented use of Anti-Coercion Instrument ahead of August 1 US tariff deadline
Business
Euro climbs 14 percent as US policy uncertainty erodes dollar reserve status
Central bankers at Aix-en-Provence forum argue American tariffs, fiscal expansion and threats to Federal Reserve independence are driving a structural shift toward the euro, though European integration gaps remain.
Business
ECB chief economist declares rate cycle finished as inflation falls below target
Philip Lane says the monetary tightening that brought eurozone inflation from 10% to 1.9% is complete, but warns new shocks require vigilance as growth remains weak.
Business
EU approves electricity subsidies for energy-intensive industry under new state aid framework
The European Commission will unveil rules on Wednesday allowing member states to cover up to half of wholesale power costs for heavy industry, validating German plans and opening the door for nuclear funding in France.
Europe
European central banks cut rates as Trump tariffs hit growth while Fed holds
Switzerland, Sweden and Norway joined the ECB and Bank of England in easing policy this week, citing tariff-driven export weakness and a falling dollar that is pushing inflation below target.
Europe
Bulgaria pledges fiscal discipline as euro entry approved for January 2026
Central bank governor Dimitar Radev insists the currency board's legacy will survive euro adoption, even as reserve requirements drop from 12% to 1% and mortgage lending surges 26%.
Europe
Bulgaria cleared for eurozone entry despite half the population opposing the move
The European Commission and ECB have approved Bulgaria as the 21st euro member, but public opposition stands at 50 percent amid fears of price rises and lost sovereignty.
Business
ECB cuts deposit rate to 2% as trade war clouds eurozone outlook
Eighth consecutive quarter-point reduction brings borrowing costs below half the level in Britain and the United States, with inflation now under target and growth forecasts weakening.
Europe
EU clears Bulgaria for euro adoption in January 2026
The European Commission and ECB have confirmed Bulgaria meets convergence criteria, but domestic opposition remains fierce as the country prepares to become the 21st eurozone member.
Europe
Eurozone inflation drops to 1.9% in May, clearing path for ECB rate cut
Flash data shows headline inflation below the 2% target for the first time since 2021, with services prices cooling sharply after an Easter distortion.
Business
Lagarde sees opening for euro as dollar reserve dominance wavers
ECB president tells Berlin audience that geopolitical shifts create a chance for the euro to expand its 20% share of global reserves, but analysts remain split on whether Europe can deliver the deeper capital markets and political unity required.
Business
Lagarde says euro could challenge dollar as global reserve currency
ECB president argues US policy volatility has created an opening for the euro, but warns deeper capital markets and joint borrowing are essential first steps.
Europe
EU roadmap targets Russian fossil fuel exit by 2027 but LNG loopholes persist
The European Commission's delayed plan bans new Russian gas contracts this year and all imports by 2027, yet Russian LNG flows rose 18% in 2024 and France increased purchases by 81%.
Business
ECB warns of US payment dominance but data shows mixed picture across Europe
Christine Lagarde says Europe must reduce reliance on Visa, Mastercard and PayPal, yet domestic schemes in Germany and France already handle most transactions while a consultant argues US networks carry under 1% of payment value.
Europe
ECB cuts rates to 2.25% as Trump tariffs darken eurozone outlook
Third quarter-point reduction this year reflects deteriorating growth prospects after US imposes 10% blanket tariff on EU goods, with further 10% threatened for July.
Business
Euro's reserve currency ambitions tested as Trump tariffs shake dollar confidence
Christine Lagarde calls for European monetary independence while economists warn the euro lacks the safe assets and offshore infrastructure to challenge dollar dominance, even as US policy creates an opening.
Europe
Europe maps its leverage against Trump trade threats
ECFR policy brief details the EU's economic and regulatory tools to deter US coercion, from the Anti-Coercion Instrument to financial market rules.
Business
ECB cuts deposit rate to 2.5% as trade risks and German spending plans cloud outlook
The sixth consecutive reduction since June 2024 comes with a downgraded growth forecast and warnings that US tariffs and Berlin's fiscal shift could upend the disinflation path.
Business
EU Commission proposes exempting 80 percent of companies from sustainability reporting rules
The omnibus simplification package would reduce firms covered by the CSRD from 50,000 to roughly 10,000, water down supply chain due diligence, and make the taxonomy voluntary for most businesses.
Business
ECB cuts rates to 2.75% as eurozone economy flatlines
Fifth reduction since June comes after zero growth in final quarter of 2024, with Germany and France both contracting. Markets price in another full percentage point of cuts this year.
Europe
Von der Leyen prepares bonfire of EU green reporting rules
European Commission president targets sustainability directives she helped create, promising a 25% cut in reporting burdens while green groups warn of a deregulation precedent that could unravel the Green Deal.
Europe
Euro zone inflation climbs to 2.4% as services prices stay stubborn
Headline rate rises for third consecutive month while core inflation holds at 2.7%, complicating the European Central Bank's path to lower interest rates.