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Brussels chides Hungary for significant errors in its fiscal plans

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Brussels chides Hungary for significant errors in its fiscal plans

Budapest appears to be dragging its feet over submitting a realistic picture of Hungary’s economic outlook, according to a European Commission letter seen by Euronews – the latest potential quarrel in a pattern of worsening relations with Brussels.

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Hungary’s fiscal plans are missing significant information and based on unreliable data, European Commissioner Valdis Dombrovskis has said in a letter to Finance Minister Mihály Varga, dated Thursday (5 December) and seen by Euronews.

Budapest appears to be dragging its feet in submitting realistic economic forecasts to Brussels – part of a growing pattern of confrontation between the two.  

“At this stage, there are still important elements missing, or requiring further adjustment and specification, for the Commission to finalise its assessment” of Hungary’s medium-term fiscal plan, said Dombrovskis, who is European Commissioner for the Economy.

The Commission also highlights issues with data on economic growth, inflation and interest expenditure, saying that deviations from the Commission’s own methodology need to be “duly justified”.

The analysis is supposed to set out how Viktor Orbán’s government plans to return to fiscal balance over the coming few years, after strict EU spending rules were relaxed amid the covid pandemic and the ensuing energy crisis.

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But the EU executive’s full assessment “may take some time … given the breadth of the missing information” – possibly stretching the deadline from the current 12 December into the middle of January next year, the letter said.

Fines for breaches

The EU Treaty limits the debt its member states can incur – and in principle breaches can lead to fines, even if such tough measures are rarely if ever imposed.  

The bloc’s Stability and Growth Pact aims to avoid economic turmoil in the eurozone, as seen in Greece following the global financial crisis of 2007-8 – but the rules also apply, albeit less strictly, to those such as Hungary who don’t share the currency.

Under the EU’s ‘Maastricht criteria’ outstanding government debt should not exceed 60% of annual economic output, or GDP, and the budget deficit should be no more than 3%.

These budget strictures were largely suspended during the government splurges of the pandemic and the energy crisis surrounding Russia’s invasion of Ukraine, but they are back in force as of this year. 

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Hungary was apparently late submitting its fiscal plans, meaning it couldn’t be assessed in late November alongside most other EU member states. 

In light of domestic political issues, the Commission had given five other EU members extra time to submit their deficit proposals. Among them are Germany, which has called a snap poll for February, and Belgium, which is still attempting to form a governing coalition after June federal elections. 

Just one of the remaining 21 countries was given a fail grade for its fiscal plans in November. The Commission chastised the Netherlands, traditionally a fiscal hawk, for a deficit predicted to rise  from 0.2% this year to 2.4% in 2026, due in part to income tax cuts and a rise in public investment.

Toxic impact

Conforming with Brussels’ demands can have a toxic impact on domestic politics. The government of French prime minister Michel Barnier fell this week after lawmakers refused to support his seven-year plan to bring down France’s deficit, which at 6.2% is the highest in the eurozone. 

Hungary is also approaching the end of a complicated six months in which it has chaired discussions among member states in the EU Council.

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Budapest has repeatedly vetoed sanctions and other measures taken against Russia in response to the Ukraine invasion, and has refused to implement EU court judgements on asylum rights, leading Brussels to suspend lucrative EU funds.

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Iceland kills first whales since 2023, resuming whaling

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Iceland kills first whales since 2023, resuming whaling

By&nbspEuronews&nbspwith&nbspAFP

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Two whales were killed off the coast of Iceland overnight Sunday, two days after commercial hunting resumed, local media and animal rights activists reported Monday.

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The kill ends a two-year pause and marks the first catches since 2023.

Icelandic public broadcaster RUV reported that two fin whales were killed. The fin whale is the second largest animal on Earth after the blue whale.

Before the vessels set off on Friday, a protester had attached himself to one of the masts in the port of Reykjavik, but climbed down and was escorted away by police.

Iceland, Norway and Japan are the only three countries that still openly permit whaling, despite international condemnation from the public and animal welfare organisations.

Iceland cancelled its whale hunt over the past two years, partly because economic problems had cut demand and the industry was not deemed profitable enough.

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“The first fin whale deaths in Iceland’s hunt this year are devastating,” said Joanna Swabe, European senior public affairs director for animal rights group Humane World for Animals.

“Iceland has killed more than 1,000 fin whales in the past two decades — not only the second largest animal on the planet but also a species classified as globally vulnerable to extinction,” Swabe said in a statement.

Iceland’s government has said it is planning to introduce a bill aimed at banning whaling this autumn.

The International Whaling Commission banned the commercial killing of whales in 1986 amid alarm at the declining stock of the marine mammals.

Iceland’s Marine and Freshwater Research Institute has recommended that no more than 150 fin whales are caught in the 2026 season.

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That represents a 28-percent drop on the annual quota it recommended for the period 2018–2025, it said.

The institute has set an annual catch of 168 animals for the minke whale hunt this year, a 23-percent drop on 2018-2025.

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Paramount+ Sets Tulisa Docuseries About Shamed ‘X Factor’ Judge From Dorothy Street Pictures

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Paramount+ Sets Tulisa Docuseries About Shamed ‘X Factor’ Judge From Dorothy Street Pictures

Paramount+ has commissioned a docuseries about shamed “X Factor” judge Tulsa from Dorothy Street Pictures, the producers behind Victoria Beckham doc “Victoria” and Pamela Anderson doc “Pamela: A Love Story.”

Tentatively titled “Tulisa: The Reckoning,” the unscripted series will follow the former pop star and talent show judge as she reflects on her journey, from her humble beginnings to soaring success as the frontwoman for the band N-Dubz, her pivot to “X Factor” judge and the scandal that saw her career come crashing down.

In 2013 an undercover U.K. tabloid journalist nicknamed the “Fake Sheikh” tricked the singer into “setting up a cocaine deal” which saw her arrested and charged. The trial collapsed after the journalist was found to have tampered with evidence (he was later convicted of perverting the course of justice).
Tulisa later revealed she had been entrapped by the journalist, who claimed he could bag her a role in a movie worth £3.5 million.

Although she was never convicted, Tulisa lost endorsements and jobs, including the “X Factor” gig and effectively disappeared from public life.

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As well as telling her story, the three-part docuseries will follow the singer’s campaign for media regulation.

“This isn’t just a story of survival, it’s a reckoning,” reads the synopsis for the docuseries. “After years of reflection, Tulisa is ready to confront and change the system that once brought her down.”

Tulisa says of the project: “For years, so much has been said about me, but not always by me. This series is about taking back control of my story and speaking openly about everything I’ve been through, not just for myself, but for anyone who’s had similar experiences in the media spotlight.”

“Tulisa: The Reckoning” (working title) is set to land on Paramount+ in 2026.

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Trump gets major win against China in African rare earth minerals race

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Trump gets major win against China in African rare earth minerals race

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JOHANNESBURG — In what’s being hailed as a major win for the Trump administration against Chinese domination of the rare earth minerals market, the U.S. has supported an American company, Virtus Minerals, in developing two major mines producing cobalt and copper in the Democratic Republic of the Congo (DRC).

This is claimed to be the first U.S. rare earth minerals acquisition in the African nation since President Donald Trump announced the Washington Accord last December.

Historically, China has been the heavy lifter of these metals. The Strategic Studies Institute reported that 80% of the world’s cobalt is produced in the DRC — and 80% of that is controlled by China. Cobalt, used in a wide range of applications, from electric cars and mobile phones to military jets, is on the U.S. government’s list of critical minerals. Copper, also on the list, has traditional uses such as piping for plumbing, but is also needed in electronics and the automotive industry.

President Donald Trump attends a signing ceremony with Rwanda’s President Paul Kagame and Democratic Republic of Congo President Felix-Antoine Tshisekedi at the Donald J. Trump Institute of Peace in Washington on Dec. 4, 2025. (Evan Vucci/AP)

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During December’s signing at the White House, Trump made clear the administration’s fight to curb Chinese domination of minerals and help American mining companies make a major impact in the DRC. “A great day for Africa, a great day for the world,” Trump said.  The accord also aims to bring an end to fighting between the DRC and Rwandan-backed forces, although the Rwandan-supported M23 rebel group have continued their hostile infiltration in the Eastern DRC.

American mining company Virtus is, with U.S. support, claiming to be “the first U.S.-owned operator back in the DRC in more than a decade”, with its investment in Chemaf, a local cobalt and copper producer with two mining operations, one, Étoile, in Lubumbashi and Mutoshi, in Kolwezi. Together it’s planned the mines will produce a combined 75,000 tonnes of copper, and 20,000 tonnes of cobalt a year. The processing plants are currently under development and will come online next year.

Virtus Minerals CEO and Chamaf Chairman. Phillip Braun, the Chargé d’Affaires U.S. Embassy Kinshasa Ian J. McCary, and Chemaf Managing Director Sooryanarayanan Prabhakaran cutting the ribbon of the new mine. (Virtus Minerals / Chemaf)

The minerals will ultimately be exported to the west through the Lobito Corridor to a port in Angola. Lobito is the rail route the U.S. has backed with a $5 billion investment commitment, with, according to a Virtus statement, “the aim of obtaining a secure, auditable copper and cobalt supply chain for the U.S. and its allies.”

THE WEST STILL DOESN’T GRASP THE DANGER OF CHINA’S RARE EARTH ENDGAME

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Frans Cronje, president of the Washington-based Yorktown Foundation for Freedom, says the Virtus projects are significant because they show the administration is seriously trying to change the balance in a minerals battle with China.

He told Fox News Digital, “This development signals a more assertive United States effort to compete with China for access to Africa’s critical mineral base, particularly in the Democratic Republic of Congo, where cobalt and copper are strategically vital to global energy and defense supply chains.”

The U.S. and DRC flags fly outside Chemaf’s site in Kolwezi, Democratic Republic of the Congo. (Virtus Minerals / Chemaf)

Cronje added, “China has built deep structural dominance across much of Africa’s resource sector over the past two decades, but U.S.-backed initiatives such as this suggest a shift towards more direct engagement, rather than relying on Chinese-controlled supply routes. This matters because Africa’s vast resource endowment, combined with its geostrategic position along key Atlantic and Indian Ocean corridors, makes it central to future global economic and security competition.”

A State Department spokesperson told Fox News Digital, “President Trump and Secretary Rubio remain firmly committed to supporting U.S. companies that seek to do business in the DRC.”

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AFRICAN WAR-TORN NATION INVOKES TRUMP ‘GOLDEN AGE’ FOR MINERALS DEAL IN EXCHANGE FOR BOOTING VIOLENT REBELS

Chemaf’s site in Kolwezi, Democratic Republic of the Congo. (Virtus Minerals / Chemaf)

“The United States government fully supports the efforts of Virtus Minerals,” the spokesperson continued. “This acquisition serves as an initial flagship U.S. investment in the DRC, and sends a clear signal that the U.S. private sector interest is real and will catalyze further investment in alignment with the U.S.-DRC Strategic Partnership Agreement, which positions the DRC to play an integral role in the Trump Administration’s global efforts to secure critical mineral supply chains.”

The spokesperson added that “increased U.S. investment will create quality jobs for American and Congolese workers, foster skills development and support local communities that have long been exploited by the opaque systems constructed and perpetuated by adversarial foreign actors who have controlled the DRC’s critical minerals sector.”

Cobalt and Copper mined from Chemaf’s Etoile site in Lubumbashi, DRC. (Virtus Minerals / Chemaf)

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Virtus holds 56 mining licenses in total in the DRC. Phillip Braun, Virtus Minerals CEO and Chemaf chairman, told Fox News Digital, “Our first goal is to bring the Étoile and Mutoshi plants up to full production. From there, we will explore everything Chemaf’s 56 mining permits have to offer — copper, cobalt and other metals like tungsten.”

“None of this would be possible,” Braun added, “without the strong partnership now growing between the United States and the DRC, and the support of leaders in both countries who saw what was possible. We look forward to bringing our two nations closer by building a steady, trusted supply of the minerals we depend on and supporting other American companies that want to invest in the DRC any way we can.”

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“A more active U.S. presence in these supply chains,” Cronje continued, “would mark a significant rebalancing of influence on the continent, with implications not only for resource access but for broader geopolitical alignment in regions that are becoming increasingly contested.”

Fox News Digital reached out to the DRC government for comment, but did not receive a response.

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