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Georgia protests: What’s behind them and what’s next?

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Georgia protests: What’s behind them and what’s next?

Tens of thousands of demonstrators have clashed with riot police in Georgia over the past five nights in protests against the governing Georgian Dream party’s decision to suspend talks aimed at joining the European Union until 2028. 

Prime Minister Irakli Kobakhidze, chairman of the populist Dream Party, announced the decision after the European Parliament rejected the results of Georgia’s October 26 parliamentary elections. He accused the European Parliament and “some European leaders” of “blackmail”.

Why are people protesting in the country of 3.7 million people in the South Caucasus? And what could happen next?

Who is protesting in Georgia and why?

Protests erupted on Thursday after Kobakhidze announced that Georgia would suspend talks on accession to the EU for four years.

This announcement came just hours after the European Parliament adopted a nonbinding resolution rejecting Georgia’s parliamentary election results due to “significant irregularities”. The resolution called for new elections to be held within a year under international supervision and called for sanctions on Georgian leaders, including Kobakhidze.

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On Sunday, Kobakhidze told reporters parliamentary elections would not be reheld, further intensifying protests. But it is not just voters who have taken to the streets.

“This movement now extends beyond public demonstrations,” Tinatin Akhvlediani, a research fellow in the EU Foreign Policy Unit at the Brussels-based think tank Centre for European Policy Studies, told Al Jazeera.

“Civil servants, including some from the Ministry of Internal Affairs, members of the diplomatic corps and hundreds within the education system have joined the resistance. This signals that Georgians are united in their determination not to abandon their European choice.”

Georgia applied to be part of the EU in March 2022 and became a candidate for EU membership in December 2023. The goal of joining the EU has been enshrined in Georgia’s Constitution since 2017.

According to a poll by the Washington-based nongovernmental organisation National Democratic Institute, which is funded by Western governments and US government organisations, almost 80 percent of people in Georgia said they want their country to become an EU member.

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This is not the first time that public discontent with the Dream party has resulted in protests this year.

In May, parliament passed the Dream Party’s “foreign agents bill” with 84 votes among the 150 MPs.

The law requires nongovernmental and media organisations that receive more than 20 percent of their funding from outside Georgia to register as bodies “pursuing the interests of a foreign power”. This sparked rioting in Tbilisi with critics arguing that the law would curb media freedom and jeopardise Georgia’s bid to join the EU. President Salome Zourabichvili, who is independent and not affiliated with any political party, called the law an “exact duplicate” of a bill passed in Russia in an interview with CNN.

Many agreed with her. Akhvlediani said: “That legislation, seen as Kremlin-inspired, was widely perceived as an attack on civil society, independent media and free speech. It exemplifies the ruling Georgian Dream party’s pattern of democratic backsliding, state capture, rigging elections and attempts to undermine Georgia’s European aspirations.”

Salome Zourabichvili, the independent president of Georgia, has been a vocal critic of Georgian Dream’s policies and legislation [File: Foto Olimpik/NurPhoto via Getty Images]

How have Georgia’s authorities responded to the protests?

Kobakhidze

The prime minister has been critical, describing the demonstrations as violent and alleging that they are a product of foreign interference.

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“The protests in Tbilisi are not peaceful,” he said during a news conference on Monday.

“We may be dealing with foreign ‘trainers’ organising these violent groups, but this is a matter of investigation,” he added. He also claimed some of the protesters are foreign nationals.

He further claimed that the opposition is trying to create a situation similar to Ukraine’s pro-Europe demonstrations in 2014 in Maidan square. That uprising was followed by Russia’s annexation of Crimea. The largest opposition group in Georgia is the Coalition for Change, which comprises pro-Western liberal parties.

However, at Monday’s news conference, Kobakhidze reaffirmed the government’s commitment to eventually joining the EU.

“We pledge to make every effort for Georgia’s full membership in the EU by 2030,” he said.

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Irakli Kobakhidze
Georgian Prime Minister Irakli Kobakhidze, centre, leaves a voting station after casting his vote in parliamentary elections on October 26, 2024, in Tbilisi [Diego Fedele/Getty Images]

Georgian riot police

In footage of the protests, demonstrators can be seen waving large EU flags while facing off against a squad of riot police. The police have used tear gas and water cannon in attempts to disperse the protesters. Videos also show protesters hitting back at the riot police with fireworks.

Prominent opposition leader Zurab Japaridze, a member of the opposition party Girchi (“More Freedom”), was among those arrested.

The Georgia chapter of the Germany-based anticorruption watchdog Transparency International issued a news release saying the protesters detained on Monday were physically assaulted by law enforcement officers.

“Officers were allegedly overheard coordinating to break detainees’ arms or legs, with instructions from their superiors to target the liver and head,” the news release said.

“Riot police reportedly stripped detainees of their shoes, forcing many to walk barefoot to medical facilities. Mobile phones were confiscated, and detainees were coerced into unlocking them.”

Zourabichvili

Zourabichvili, the pro-EU president, was elected for a six-year term in 2018. Her presidency is due to end this month. She has reacted to the government’s introduction of the “foreign agents” law and its crackdown on protesters by refusing to step down.

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Zourabichvili is the last president to be elected in Georgia by popular vote.

In 2017, Georgia approved constitutional changes abolishing the direct election of the president. The next president will be elected for a five-year term by a 300-seat electoral college, which includes the members of parliament and is dominated by the Dream party.

The vote for the new president is set to take place on December 14. “On December 29, she will have to leave her residence and surrender this building to a legitimately elected president,” Kobakhidze said on Sunday.

Georgian Dream has picked far-right former football international Mikheil Kavelashvili as its candidate for the largely ceremonial post.

But the current president has refused to step down over doubts about the legitimacy of the October elections. “There is no legitimate parliament. Therefore, an illegitimate parliament cannot elect a new president,” she said in a video on Saturday.

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How have EU, Western countries reacted?

The EU released a statement on Sunday saying the union “regrets Kobakhidze’s statement on Georgian Dream’s decision not to pursue the opening of EU accession negotiations and rejecting EU financial support until 2028”.

It added that the decision marks a shift from previous Georgian governments’ enthusiasm for joining the EU. The EU statement read: “The Georgian authorities’ course of actions and democratic backsliding led to the de facto halt of the accession process already in June this year.”

After condemning police violence against pro-Europe protesters, the statement concluded: “The EU stands with the Georgian people and their choice for a European future. The door to the EU remains open and the return of Georgia to the European values and the EU accession path is in the hands of the Georgian leadership.”

The US Department of State also released a statement on Saturday saying: “By suspending Georgia’s EU accession process, Georgian Dream has rejected the opportunity for closer ties with Europe and made Georgia more vulnerable to the Kremlin.”

The statement added: “We reiterate our call to the Georgian government to return to its Euro-Atlantic path, transparently investigate all parliamentary election irregularities, and repeal anti-democratic laws that limit freedoms of assembly and expression.” This referred to laws including the foreign agents bill and an anti-LGBTQ bill that was passed in September.

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How has Russia reacted?

Kremlin spokesman Dmitry Peskov told reporters on Monday that Russia was not interfering in Georgian politics. “Everything that is happening in Georgia is its internal business,” he said.

Peskov, however, drew parallels between the current protests in Georgia and the Maidan protests in Ukraine.

He said Georgia is “moving rapidly along the Ukrainian path into the dark abyss”, adding that this would end “very badly”.

What will happen next?

“The future is uncertain, but the protests clearly underscore mounting public dissatisfaction with the government’s blunt deviation from Georgia’s European course,” Akhvlediani said.

She added that the government’s crackdown on protests risks “further fuelling resistance and expanding the scale of demonstrations” and the international community’s response to the crackdown on the protests will be “critical”.

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“Targeted sanctions against individuals responsible for election rigging and democratic backsliding, as seen in actions taken by the Baltic states, should be considered,” she said. “Such measures would demonstrate solidarity with the Georgian people and pressure the government to respect the will of its citizens.

“The EU, the US and the other Western allies of the country should also continue supporting civil society and free media, which represent the backbone of Georgian democracy.”

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Global futures reopen after exchange operator CME suffers multi-hour disruption

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Global futures reopen after exchange operator CME suffers multi-hour disruption
  • US, Nikkei stock futures, West Texas Crude futures affected
  • Cooling issue at CyrusOne data centre in Chicago caused outage
  • Traders flying blind without prices, expect market volatility
  • Some FX trading resumes on EBS

SINGAPORE/LONDON, Nov 28 (Reuters) – Global futures markets were disrupted for several hours on Friday after CME Group, the world’s largest exchange operator, suffered one of its longest outages in years, halting trading across stocks, bonds, commodities and currencies.

By 1335 GMT, trading in foreign exchange, stock and bond futures , , as well as other products had resumed, after having been knocked out for over 11 hours, according to LSEG data.

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CME blamed the outage on a cooling failure at data centres run by CyrusOne, which said its Chicago-area facility had affected services for customers including CME (CME.O), opens new tab.

The disruption stopped trading in major currency pairs on CME’s EBS platform, as well as benchmark futures for West Texas Intermediate crude , Nasdaq 100 , Nikkei , palm oil and gold , according to LSEG data.

‘A BLACK EYE’

Trading volumes have been thinned out this week by the U.S. Thanksgiving holiday and with dealers looking to close positions for the end of the month, the outage posed a risk of spurring volatility, market participants said.

“It’s a black eye to the CME and probably an overdue reminder of the importance of market structure and how interconnected all these are,” Ben Laidler, head of equity strategy at Bradesco BBI, said.

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“We complacently take for granted much of the timing is frankly not great. It’s month end, a lot of things get rebalanced.”

Still, the timing of Friday’s outage, during a shortened U.S. equity trading session with thinner volumes, helped limit its market impact.

“If there was to be a glitch day, today’s probably a good day to have it,” Joe Saluzzi, co-manager of trading at Themis Trading in Chatham, New Jersey, said.

Futures are a mainstay of financial markets and are used by dealers, speculators and businesses wishing to hedge or hold positions in a wide range of underlying assets. Without these and other instruments, brokers were left flying blind and many were reluctant to trade contracts with no live prices for hours on end.

“Beyond the immediate risk of traders being unable to close positions – and the potential costs that follow – the incident raises broader concerns about reliability,” said Axel Rudolph, senior technical analyst at trading platform IG.

A few European brokerages said earlier in the day they had been unable to offer trading in some products on certain futures contracts.

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“My anticipation is that life goes on but everybody will have yet another look at their data centre arrangements and invest more in ensuring reliable supply because the importance of data center uptime is higher and higher,” Mikhail Zverev, Portfolio Manager at Amati Global Investors in London.

Regulators are tracking the situation, with both the Commodity Futures Trading Commission and Securities and Exchange Commission confirming they are aware of the issue and conducting ongoing surveillance.

BIGGEST EXCHANGE OPERATOR

CME is the biggest exchange operator by market value and says it offers the widest range of benchmark products, spanning rates, equities, metals, energy, cryptocurrencies and agriculture.

Average daily derivatives volume was 26.3 million contracts in October, CME said earlier this month.

The CME outage on Friday comes more than a decade after the operator had to shut electronic trade for some agricultural contracts in April 2014 due to technical problems, which at the time sent traders back onto the floor.

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More recently in 2024 outages at LSEG and Switzerland’s exchange operator briefly interrupted markets.

CME’s own shares were up 0.4% in premarket trading.

Reporting by Saqib Iqbal Ahmed and Laura Matthews in New York, Chris Prentice in Washington, Ankur Banerjee, Tom Westbrook, Rae Wee and Florence Tan in Singapore, Amanda Cooper, Lucy Raitano, Vidya Ranganathan and Alun John in London; Toby Sterling in Amsterdam and Pranav Kashyap in Bangalore; Editing by Alison Williams, Elaine Hardcastle and Alistair Bell

Our Standards: The Thomson Reuters Trust Principles., opens new tab

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Ukrainian official Yermak resigns as corruption probe encircles Zelenskyy

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Ukrainian official Yermak resigns as corruption probe encircles Zelenskyy

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Ukrainian President Volodymyr Zelenskyy announced that head of the office of the president of Ukraine, Andriy Yermak, had written a letter of resignation.

“I am grateful to Andriy for always presenting the Ukrainian position in the negotiation track exactly as it should be. It has always been a patriotic position,” Zelenskyy noted, according to a translation of his comments in a video.

ZELENSKYY’S TOP AIDE ANDRIY YERMAK FACES CRITICISM AND SOME PRAISE AS WAR WITH RUSSIA DRAGS ON

Head of the Office of the President of Ukraine Andriy Yermak talks to the press at the U.S. Mission to International Organizations in Geneva, Switzerland, Sunday, Nov. 23, 2025.  (Martial Trezzini/Keystone via AP)

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“But I want there to be no rumors and speculation. As for the new head of the office, tomorrow I will hold consultations with those who can head this institution,” the foreign leader noted.

Yermak’s home had been raided by anti-corruption investigators.

MOMENTUM BUILDS IN UKRAINE PEACE PUSH, BUT EXPERTS FEAR PUTIN WON’T BUDGE

President of Ukraine Volodymyr Zelenskyy participates in a briefing at the Office of the President following a staff meeting in Kyiv, Ukraine, on Nov. 7, 2025. (Pavlo Bahmut/Ukrinform/NurPhoto via Getty Images)

“Today, NABU and SAPO are indeed conducting procedural actions at my home. The investigators have no obstacles. They were given full access to the apartment, my lawyers are on site, interacting with law enforcement officers. From my side, I have full cooperation,” Yermak noted the Ukrainian-language post on Friday.

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‘GOLDEN TOILET’ SCANDAL: ZELENSKYY FACES DEEPEST CRISIS YET AS ALLIES ACCUSED IN $100M WARTIME SCHEME

Ukrainian President Volodymyr Zelenskyy meets with President Donald Trump in Washington D.C., on Aug. 19, 2025.  ( Ukrainian Presidency / Handout/Anadolu via Getty Images)

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President Donald Trump’s administration has been aiming to help broker peace between Russia and Ukraine.

Fox News’ Yulia Wallenfang contributed to this report.

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Which EU countries have the biggest gender investment gap?

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Which EU countries have the biggest gender investment gap?

Only about one in five tech companies across Europe created between 2020 and 2025 included at least one woman founder, according to the European Commission’s The Gender Investment Gap report.

Even when adjusting for this disparity, companies with female founders also received less investment than firms with male founders.

The highest levels of gender diversity were found in Latvia, at 27%, Italy, at 25.9 %, and Portugal, at 25.2%. These rates represent the proportion of companies with at least one female founder.

In contrast, countries such as the Czech Republic (9%) and Hungary (14.4%) remain well below the European average (19.3%).

Equal participation by women entrepreneurs could increase EU GDP by approximately €600 billion, with countries like Poland seeing growth of 1.6% and the Netherlands up to 5.5% by 2040, according to the 2025 Frontier Economics study.

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The gender investment gap refers to systematic disparities between women and men in accessing venture capital and participating in investment decision-making.

Among European small and medium-sized enterprises applying for bank loans, female-owned firms report loan-approval rates about five percentage points lower than male-owned firms. That’s even after controlling for age, size, and sector, according to the European Investment Bank.

Gender disparities also extend to capital ownership and investment behaviour, as data shows women are investing less in retail assets.

Female retail investors currently control about €5.7 trillion in Europe, a figure projected to rise to €9.8 trillion by 2030. If women invested on a parity basis with men, Europe could mobilise an additional €2 to €3 trillion in private investable assets.

“These findings point to an EU-wide economic shortfall well into the hundreds of billions of euros annually – capital that could otherwise be fuelling innovation, employment, green – and digital transitions,” the EC report stated.

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What is behind this gender gap?

The gender investment gap has been put down to differences in risk appetite between men and women, as well as societal expectations and financial education.

Historically, entrepreneurship and venture finance have been male-coded domains associated with risk-taking, assertiveness, and individualism.

Decision-making bodies in venture capital and private equity remain male-dominated, reinforcing existing investment patterns.

Societal expectations around women’s caregiving roles and work-life balance continue to influence their access to entrepreneurial networks and capital.

According to the European Commission’s report, even in societies perceived as egalitarian, such as Nordic countries, the assumption that gender equality has already been achieved “can itself act as a barrier – masking ongoing structural biases”.

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Across Europe, women also face a “double exclusion” of gender and geography.

European venture capital is mainly based in hubs in London, Paris, Berlin, and Stockholm, which leaves founders in Central, Eastern, and Southern Europe structurally disadvantaged.

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