World
Election aftermath – MEPs to watch on economic and financial policy
The European Parliament is establishing new political groups and leadership, with the first constituent plenary session on 16-19 July – Euronews has earmarked MEPs likely to shape economic and finance policy in the new assembly.
A new parliament is being shaped around the powerful central European People’s Party group with its coalition Socialist & Democrat, green and liberal allies, but with a strengthened far right adding fresh impetus and uncertainty to the process – all of which could affect the development of financial policies over the next five years.
While there is growing desire among lawmakers to focus more on enforcement and implementation before more regulation, there are widespread differences among the political groups on how to boost longer term economic growth.
“One key reason for Europe’s poor economic performance is low productivity, the lack of financing available for high-potential, high-risk businesses, and the barriers to innovative European firms building scale across the Union,” researchers from the think tank Centre for European Reform (CER) wrote in a post-election analysis.
“Populist and far-right parties are likely to be a hindrance to many of these steps,” the CER analysts added, noting that reforms such as those needed to strengthen Capital Markets Union will probably be occupy the agenda of centrist MEPs.
Also on the to-do list is the digital euro project, which aims to provide consumers with an alternative means of payment, and the revision of EU rules on payment services, where the Parliament wants to make online platforms liable for payment fraud.
But who is most likely to influence these and other dossiers through a newly formed economic and finance committee in the Parliament?
More than 25 full members of the Parliament’s economic committee are expected to be back for another five years, according to a Euronews analysis based on available provisional results.
Among them are both committee chair Irene Tinagli (Italy/Socialists & Democrats) and vice-chairs Markus Ferber (Germany/EPP), Stéphanie Yon-Courtin (France/Renew Europe), Jonás Fernández (Spain/S&D) and Johan Van Overtveldt (Belgium/ECR).
Others weren’t so lucky.
Romanian liberal economist Dragoș Pîslaru, professor Marek Belka (Poland/S&D) and Eva Poptcheva (Spain/EPP), who led work to create a new anti-money laundering agency, were not re-elected.
As the veterans check our pre-election list take up their old roles alongside fresh faces – Euronews took a look at some of the interesting newcomers who might be destined for the committee.
Five to watch:
1. Sophie Wilmès (Belgium/Renew Europe)
Wilmès (49) is a former Belgian prime minister, the first woman to hold the position, and the successor to current European Council president Charles Michel.
The Belgian led the list of the liberal Mouvement Reformateur (MR) party, which won around 540,000 votes in the June elections – equivalent to three of 22 seats.
The MR’s top candidate studied communications and financial management, and also worked for a time as a financial officer for the European Commission and as a financial and economic consultant for a law firm.
In 2015, she was budget and civil service minister until she became prime minister of Belgium from October 2019 to October 2020, when she also took on the role of deputy prime minister and foreign affairs minister.
In the summer of 2022, she stepped down from her roles for personal reasons – but is now ready to shape EU policy.
2. João Cotrim de Figueiredo (Portugal/Others)
Another interesting profile is that of businessman and a politician, liberal João Cotrim de Figueiredo (62).
Cotrim de Figueiredo won one of two seats for the Iniciativa Liberal (Liberal Initiative) party for the first time in the EU elections.
An MBA holder and economics graduate with experience in the financial sector, between 2013 and 2016, he was chairman of the board of directors of Turismo de Portugal, and only became a politician in 2019, when he was elected as a deputy for the Lisbon constituency in the 2019 Portuguese legislative elections.
3. Pasquale Tridico (Italy/NI)
Tridico (48) holds a PhD in Economics from the University Roma Tre and served as president of the National Institute of Social Security (INPS) from 2019 to 2023.
He was involved in the reform of the Italian pension system and the implementation of a so-called ‘citizenship income’ initiative, a minimum income scheme, which might inspire his activity as an MEP.
“The idea of a European basic income financed by all, with an increase in the European budget, and used on the basis of need, where the crisis bites the most, would amortise the social spending of a state,” Tridico said in an interview last year.
The Italian has published articles on economic growth, welfare models, sustainable development and inequality in various academic journals – and teaches courses on economic policy and labour economics.
Now it’s his turn to shape future policy with the Five Star Movement party.
4. Fabio de Masi (Germany/Others)
German-Italian MEP Fabio de Masi (44) was the leading candidate of Sahra Wagenknecht’s Alliance, a newly formed party put together by former members of Die Linke.
He (and his party, which won six seats) will be another to watch in the next mandate.
De Masi is an economist and has some previous experience in the European Parliament, where he was a member until 2017.
The economist was a member of the finance committee, as well as vice-chairman of a special committee investigating money laundering and tax evasion, due to his strong credentials in the fight against corruption.
During his time in the German parliament (2017-2021), he headed an investigation into the collapse of German payments company Wirecard.
5. Sérgio Gonçalves (Portugal/S&D)
In March Portugal went to the polls and saw a change of regime after eight years of Socialist-led government headed by Antonio Costa.
A coalition of conservative forces won the national elections and the Portuguese Socialist Party decided to change its strategy for the EU elections.
Gonçalves, 45, is part of that new generation of Portuguese Socialists in Brussels and Strasbourg, with eight members – only one fewer than the last mandate.
From 2022 to 2023, he led the Portuguese Socialist Party in Madeira.
Gonçalves has dedicated his professional career to the business sector, holding a degree in economics and a master’s degree in international management.
MEPs will hold their first parliamentary committee meetings between 22 and 25 July.
World
US diplomat Marco Rubio denounces settler violence, tolls in Hormuz strait
United States Secretary of State Marco Rubio has offered wide-ranging remarks upon his departure from the latest Group of Seven (G7) ministers’ meeting in France, denouncing Iran’s continued chokehold on the Strait of Hormuz as well as settler violence in the occupied West Bank.
Standing on an airport tarmac on Friday, Rubio fielded questions from journalists about reports that Iran plans to implement a tolling system in the strait, a vital waterway for the world’s oil supply.
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Rubio used the topic to double down on pressure for countries to participate in securing the Strait of Hormuz, a demand US President Donald Trump has repeatedly made.
“One of the immediate challenges we’re going to face is in Iran, when they decide that they want to set up a tolling system in the Strait of Hormuz,” Rubio said.
“Not only is this illegal, it’s unacceptable. It’s dangerous for the world, and it’s important that the world have a plan to confront it. The United States is prepared to be a part of that plan. We don’t have to lead that plan, but we are happy to be a part of it.”
He called on the G7 members — among them, Japan, Canada, France, the United Kingdom, Italy, Germany and the European Union — as well as countries in Asia to “contribute greatly to that effort”.
Rubio calls toll plan ‘unacceptable’
The Strait of Hormuz is a key artery for the global transport of oil and natural gas, and prior to the start of the US and Israel’s war against Iran on February 28, an average of 20 million barrels of oil per day passed through the waterway.
That amounted to roughly 20 percent of the world’s liquid petroleum supply.
But since the outbreak of war, Iran has pledged to close the Strait of Hormuz, which borders its shores. The threat of attacks has ground most of the local tanker traffic to a standstill, though a few vessels, some linked to Iran or China, have been allowed to pass through.
Media reports suggest that Iran is setting up a “tollbooth system” that would require passing ships to put in a request through Iran’s armed forces, the Islamic Revolutionary Guard Corps (IRGC). There would also be a fee to secure passage.
“ They want to make it permanent. That’s unacceptable. The whole world should be outraged by it,” Rubio said on Friday.
He added that he conveyed a warning about the polling scheme to his colleagues at the G7.
“All we’ve said is, ‘You guys need to do something about it. We’ll help you, but you guys are going to need to be ready to do something about it,’” Rubio said.
“Because when this conflict and when this operation ends, if the Iranians decide, ‘Well, now we control the Strait of Hormuz and you can only go through here if you pay us and if we allow you to, that’s not only is it illegal under international law and maritime law. It’s unacceptable, and that can’t be allowed to exist.”
The Trump administration, however, has struggled to rally allies and world powers to join the US in its offensive against Iran.
Legal experts have criticised the initial strikes against Iran as an unprovoked act of aggression, though the Trump administration has cited a range of rationales for launching the attack, including the prospect that Iran may develop a nuclear weapon.
Many of the US allies in Europe have maintained that they would limit their involvement to defensive actions. Trump, meanwhile, has accused members of the NATO alliance of being “cowards”, adding in a social media post, “We will REMEMBER.”
In a statement following the G7 meeting, member countries reiterated their stance that there should be an “immediate cessation of attacks against civilians and civilian infrastructure”.
They also underscored the “absolute necessity to permanently restore safe and toll-free freedom of navigation in the Strait of Hormuz”. But the statement fell short of pledging any resources or aid to the US and Israeli war effort.
Achieving goals ‘without any ground troops’?
It is unclear when the war might end. On Saturday, it reaches its one-month anniversary, having stretched for four weeks.
Rubio on Friday echoed Trump’s assessment that the war was going as planned and that the US was achieving its objectives, including to destroy Iran’s navy, missile stockpiles and uranium enrichment programme.
“ We are ahead of schedule on most of them, and we can achieve them without any ground troops, without any,” he said, addressing an oft-raised concern about the prospect of US troops being deployed to Iran.
Rubio also briefly addressed the increasing levels of Israeli settler violence against Palestinians in the occupied West Bank.
Footage has shown settlers this month torching Palestinian homes and vehicles, as well as assaulting residents.
On March 19, the United Nations estimated that more than 1,000 Palestinians have been killed in the West Bank since Israel began its genocidal war in Gaza in October 2023. The international body underscored that a quarter of the victims were youths.
“ Well, we’re concerned about that, and we’ve expressed it. And I think there’s concern in the Israeli government about it, as well,” Rubio responded, adding that it was a “topic we follow very closely”.
He suggested that the Israeli government may take action to stop the violence, though critics argue that Israel has largely turned a blind eye to settler violence.
“Maybe they’re settlers, maybe they’re just street thugs, but they’ve attacked security forces, Israelis, as well. So, I think you’ll see the government going to do something about it,” Rubio said.
Upon taking office for a second term in January 2025, President Trump also moved to cancel sanctions against Israeli settlers accused of grave abuses in the West Bank.
World
Phillies third baseman Alec Bohm sues his parents, accuses them of misusing his money
PHILADELPHIA (AP) — Philadelphia Phillies third baseman Alec Bohm has sued his parents for millions of dollars, accusing them of siphoning large amounts of his money into financial accounts they managed for him and then using some of the cash to pay their own expenses.
Bohm’s lawsuit, filed Wednesday in a Philadelphia court, comes after he began to review his personal and financial affairs in recent months, and said that his parents refused to give him access to the accounts or provide him with the information he sought about them.
They sought to “freeze” him out of four accounts — established as limited liability companies — and he now believes they “converted a sizeable amount” of his money from those accounts “to their own use,” the lawsuit said.
By the time he sought the information, his parents had already transferred millions of dollars from his personal accounts to the accounts they controlled, the lawsuit said.
Bohm’s parents, Daniel and Lisa Bohm, denied doing anything wrong and, through their lawyer, said they are “deeply saddened by the allegations” and will aggressively defend themselves. Alec Bohm has had full access to the accounts and his parents are paying his expenses on their personal credit cards, their lawyer, Robert Eckard, said in a statement.
“Mr. and Mrs. Bohm love their son very much and have always acted in his best interests, both personally and professionally, and still do so to this day,” Eckard said.
After Thursday’s 2026 season opening game, Bohm declined comment to reporters, saying “I’m not going to address any personal matters right now.”
Both parties say the first of the accounts was opened in 2019. His parents told him that they assigned themselves a 10% stake, strictly for administration purposes, and that Bohm was the “true” owner of all of the LLC’s assets, Bohm’s lawsuit said.
The accounts had various purposes, such as investing in securities or buying real estate. Bohm’s lawsuit also said they used money from The Alec Bohm Foundation to pay their expenses.
Bohm’s lawsuit asks his parents to pay at least $3 million in damages, hand over control of the accounts and hire an accountant to track every dollar they transferred from Bohm’s personal accounts to the accounts they controlled.
Bohm, 29, has a $10.2 million contract with the Phillies for the 2026 baseball season. The lawsuit said his parents live in a recreational vehicle and travel the country.
World
Rubio meets G7 ministers in France as US leads on Iran — allies under fire for tepid response
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Secretary of State Marco Rubio arrived in France on Friday to attend the G7 foreign ministers meeting where he will deliver a clear message on U.S. priorities for the ongoing war with Iran.
In the days leading up to the meeting, other members have taken markedly different approaches to the war. Nearly all of Washington’s partners — Britain, Canada, France, Germany, Italy and Japan — have reacted cautiously to the U.S.-Israeli military campaign and declined to participate in offensive operations, even as they condemn Iranian actions.
Before departing on Thursday, Rubio signaled a defiant approach to the talks: “I don’t work for France or Germany or Japan… the people I’m interested in making happy are the people of the United States. I work for them,” he said in a video posted on X.
The divergence has drawn frustration from President Donald Trump, who has pressed allies to contribute more, particularly in securing key maritime routes such as the Strait of Hormuz. While some countries have signaled a willingness to support defensive or maritime security efforts, they have stopped short of joining direct military strikes.
TRUMP PRESSES NATO PARTNERS ON SUPPORT AS HEGSETH BLASTS HESITATION
“The U.S. is constantly asked to help in wars and we have. But when we had a need, it didn’t get positive responses from NATO. A couple leaders said that Iran was not Europe’s war. Well, Ukraine isn’t our war, yet we’ve contributed more to that fight than anyone,” Rubio added.
“The Strait of Hormuz could be open tomorrow if Iran stops threatening global shipping, which is an outrage and a violation of international law. For all these countries that care about international law, they should be doing something about it,” he said before boarding his plane to France.
The remarks set the tone for a summit already marked by growing friction between Washington and some of its closest allies over how to handle the Iran conflict. Rubio has framed the stakes in stark terms. “Iran has been at war with the United States for 47 years… Iran has been killing Americans and attacking Americans across this planet,” he said during a White House cabinet meeting, adding that allowing Tehran to obtain nuclear weapons would be “an unacceptable risk for the world.”
But even before Rubio arrived at the meeting, European officials were signaling a markedly different approach.
“We need to exit from the war, not escalate this further, because the consequences for everybody around the world are quite severe,” Vice President of the European Commission Kaja Kallas said during a briefing on the sidelines of the G7 on Thursday.
JACK KEANE CALLS OUT NATO’S WEAKNESS AS SHIPPING CRISIS GRIPS STRAIT OF HORMUZ
(L/R, clockwise) French President Emmanuel Macron, European Commission President Ursula Von der Leyen, NATO Secretary General Mark Rutte, Japanese Prime Minister Shigeru Ishiba, German Chancellor Friedrich Merz, US Secretary of Treasury Scott Bessent, Canadian Prime Minister Mark Carney, Ukrainian President Volodymyr Zelenskyy, British Prime Minister Keir Starmer, and Italian Prime Minister Giorgia Meloni meet during the Group of Seven (G7) Summit at the Pomeroy Kananaskis Mountain Lodge in Kananaskis, Alberta, Canada on June 17, 2025 (LUDOVIC MARIN/AFP via Getty Images)
“It can only be a diplomatic solution… sit down and negotiate to have a way out,” she added.
The contrast between Rubio’s framing and Kallas’s message captures the core tension shaping the meeting.
U.S. officials say Rubio is heading into the talks with a broader agenda that goes beyond Iran.
According to a State Department spokesperson, who spoke to Fox News Digital on background, Rubio will use the meeting to “advance key U.S. interests” and push discussions on the wars in Ukraine and the Middle East, as well as “international burden sharing” and the overall effectiveness of the G7.
The U.S. is also expected to emphasize maritime security, including freedom of navigation in the Strait of Hormuz and the Red Sea, while urging allies to take on a greater share of responsibilities in conflict zones and international organizations, the spokesperson said.
RUBIO, RATCLIFFE TO DELIVER CLASSIFIED IRAN BRIEFING TO ‘GANG OF EIGHT’ AHEAD OF TRUMP’S STATE OF THE UNION
U.S. Secretary of State Marco Rubio speaks to reporters before boarding a plane as he is headed to France where he will take part in the G7 foreign ministers’ meeting, at Joint Base Andrews in Maryland, U.S., March 26, 2026. (Brendan Smialowski/Pool via Reuters)
European officials have instead emphasized the broader risks of the conflict.
France’s foreign minister, Jean-Noël Barrot, said discussions at the G7 would build on a recent joint statement condemning Iran’s actions while also addressing maritime security concerns.
He said the “discussions will provide an opportunity to revisit positions already agreed at the G7 level… including the unjustifiable attacks carried out by Iran against Gulf countries… which we condemned in the strongest possible terms.”
Barrot added that ministers would also focus on securing global shipping routes.
A satellite image shows the Strait of Hormuz, a key maritime passage connecting the Persian Gulf to the Gulf of Oman, vital for global energy supply. (Amanda Macias/Fox News Digital)
“We will also have the opportunity to address maritime security and freedom of navigation… including an international mission… to ensure the smooth flow of maritime traffic in a strictly defensive posture, thereby helping to ease pressure on energy prices,” he said.
Kallas echoed that global framing. “All the countries in the world are one way or another affected by this war… it is in the interest of everybody that this war stops,” she said.
IRAN SIGNALS NUCLEAR PROGRESS IN GENEVA AS TRUMP CALLS FOR FULL DISMANTLEMENT
Kaja Kallas, High Representative of the European Union (EU) for Foreign Affairs and Security Policy speaks to the press during EU Summit in Brussels, Belgium on Dec. 19, 2024. (Photo by Nicolas Landemard/Anadolu via Getty Images)
Her remarks also pointed to the interconnected nature of the crisis. “Russia is helping Iran with intelligence… and also supporting Iran now with drones,” she said, linking the Iran conflict to the war in Ukraine.
That uncertainty is already affecting the structure of the summit, with officials dropping plans for a unified final communiqué to avoid exposing divisions, Reuters reported.
Analysts say those differences reflect deeper structural tensions in the alliance. “Europe has criticized Donald Trump’s ‘maximum pressure’ strategy towards Iran while pursuing a failed diplomatic approach that has enabled the regime to expand its terrorist networks and edge closer to nuclear threshold status,” Barak Seener, senior research fellow at the Henry Jackson Society, told Fox News Digital.
“This reflects a lack of European capability to project power in the region, particularly in safeguarding the Strait of Hormuz.”
FILE PHOTO: Cargo ships in the Gulf, near the Strait of Hormuz, as seen from northern Ras al-Khaimah, near the border with Oman’s Musandam governance, amid the U.S.-Israeli conflict with Iran, in United Arab Emirates, March 11, 2026. (REUTERS/Stringer/File Photo/File Photo)
Seener added that years of reliance on Washington have left Europe increasingly exposed as the U.S. shifts its strategic priorities. “Years of underinvestment in defense and reliance on the United States have created a dependency that Washington increasingly views as a betrayal of the peace it has guaranteed Europe since the Second World War,” he said.
“With the U.S. placing greater value on its relationship with Israel than NATO, the result may be further erosion of the alliance, reduced support for Ukraine and rising economic pressure on Europe.”
He warned that the immediate test will come at the G7 itself. “Divisions over how to respond to Iran and to any U.S. request for support are likely to expose a deeper transatlantic split,” Seener said.
“Operation Epic Fury has showcased President Trump’s ability to assemble a coalition of allies to eliminate a common threat — in this case the Iranian regime — and stabilize international trade,” Jacob Olidort, chief research officer and director of American security at the America First Policy Institute, told Fox News Digital.
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A satellite view shows the Strait of Hormuz, a key global energy chokepoint connecting the Persian Gulf to the Gulf of Oman, on Oct. 2, 2024. (Gallo Images/Orbital Horizon/Copernicus Sentinel Data via Getty Images)
“The failure of Western Europe to participate in securing the Strait of Hormuz is particularly egregious because those countries depend on it more than we do,” he added.
“At the same time, the historic successes of Operation Epic Fury have awakened a new confidence in our Middle East partners to eradicate the threats from the Iranian regime and to work together to shape a more peaceful and prosperous region.”
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