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State of the Union: Zelenskyy's attempts to drum up new support

Published

1 year ago

September 27, 2024

State of the Union: Zelenskyy's attempts to drum up new support

This edition of State of the Union focuses on the crucial visit of Ukrainian president Volodymyr Zelenskyy to the U.S., the latest economic forecast by the EBRD and attempts to support the struggling German car industry.

For weeks now, Europe is anxiously looking at its number one economic powerhouse, Germany – to be more precise: at the country’s ailing car manufacturers, some of Germany’s industrial pillars.

A serious car crisis in the Federal Republic, triggered by a quasi-collapse of the electrical vehicle market, could have severe consequences elsewhere in the EU.

Threats of historic job cuts, plant closures at Volkswagen and plunging earnings at Mercedes-Benz and BMW prompted emergency talks at Berlin’s economy ministry this week.

But given strained federal finances and fights with China over tariffs, the government’s toolbox is rather empty.

Nonetheless, economy minister Robert Habeck expressed his willingness to help but excluded quick fixes: “Everyone has said that planning is the most important thing. And that means long-term planning. Not a flash-in-the-pan action, because this only has the effect of pumping up the market again in the short term and then possibly collapsing again.”

Germany is in the uncomfortable position today to be forced to re-orient its entire manufacturing sector that depended on cheap Russian energy.

You can already hear Ukraine’s president Zelenskyy shouting: “I told you so!”

Zelenskyy was at the United Nations this week to drum up support for what he called his “victory plan”.

He also reacted to pleas from the European far-left and far-right to negotiate with Russia:

“We know some in the world want to talk to Putin. We know it. To meet, to talk, to speak. But what could they possibly hear from him? That he’s upset because we are exercising our right to defend our people, or that he wants to keep the war and terror going just so no one thinks he was wrong.”

How the Ukrainian economy keeps suffering from the war was detailed this week by the latest outlook from the European Bank for Reconstruction and Development.

The EBRD covers not only Ukraine, but large parts of eastern Europe and central Asia. The bank’s findings are an important bellwether for the global economy.

We spoke to Beata Javorcik, the chief economist of the EBRD.

Euronews: So, your latest Regional Economic Prospects report is called “Along the adjustment path” – that sounds like a friendly way of saying “It’s disappointing”. What do the economies you invest in need to adjust to?

Javorcik: Well, the situation in Europe remains quite challenging. We continue to have very high prices of energy. Particularly the price of natural gas is five times as high as in the US. The demand for exports, particularly from Germany, is muted. Given the difficult situation of the German economy and, finally, the costs of borrowing continue to be high, there is this extra risk premium, this extra interest rate. Countries in the regions had to pay when the war in Ukraine started. And this risk premium continues to be there.

Euronews: On the upside are a decline in inflation and an increase in real wages. What exactly happened?

Javorcik: Well, by historical standards we have seen a very fast disinflation process, though of course the adjustment is not done yet. Inflation remains above the pre-COVID level, but on the positive side we have managed to avoid a hard landing. So, this fight with inflation has come without very big unpleasant effects in terms of unemployment. As the inflation episode started, we saw a big decline in real wages, but then real wages started catching up. That was visible in the last few months in the last year. They are not yet back to the pre-COVID trend, but they have certainly caught up in a significant way.

Euronews: I guess there are still some remaining inflationary pressures – what are they?

Javorcik: Inflation still remains high in some countries, such as Turkey or Egypt, still in high double digits. And depreciation of domestic currencies, which has made imports more expensive, has contributed to further inflation.

Euronews: One country is still in the spotlight: Ukraine. How are they coping with the ongoing war economically?

Javorcik: Well, despite the war early this year, so in the first quarter, Ukrainian economy managed to grow very fast. The bleak Black Sea corridor allowed Ukraine to export grain as well as metals and ores. But then this heavy bombing and destruction of electricity infrastructure happened. And that made the situation very difficult. There are rolling blackouts. There are shortages of electricity. The country is importing electricity from Europe, but it comes at a higher cost. And that’s weighing down on the economy.

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World

Video: Humpback Whale Stranded Off German Coast Is Freed by Rescuers

Published

3 hours ago

March 28, 2026

Press Room

Video: Humpback Whale Stranded Off German Coast Is Freed by Rescuers

new video loaded: Humpback Whale Stranded Off German Coast Is Freed by Rescuers

In a last-ditch effort, rescuers were at last able to free a 40-foot humpback whale that had been stuck in shallow waters near the coast of Germany for four days.

By Axel Boada

March 27, 2026

World

Russian man who assaulted woman during Barron Trump FaceTime call sentenced to 4 years

Published

4 hours ago

March 28, 2026

Press Room

Russian man who assaulted woman during Barron Trump FaceTime call sentenced to 4 years

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A Russian man convicted of assaulting a woman in London in an attack witnessed by Barron Trump, President Donald Trump’s youngest son, on a video call was sentenced to four years in prison by a London court on Friday.

Matvei Rumiantsev, 23, an MMA fighter, was convicted by a jury on Jan. 28 of assault with bodily harm but was acquitted of rape and choking charges. He was also convicted of perverting the course of justice stemming from a letter he sent the woman from jail asking her to retract her allegations.

After the assault, Rumiantsev admitted he was jealous of his girlfriend’s friendship with the 19-year-old son of President Donald Trump.

BARRON TRUMP REPORTEDLY SAVED WOMAN’S LIFE AFTER WITNESSING VIOLENT ASSAULT ON FACETIME CALL

Barron Trump attends inauguration ceremonies in the U.S. Capitol Rotunda on Jan. 20, 2025, in Washington, D.C. (Kevin Lamarque/Pool/Getty Images)

“Your lack of insight and empathy was apparent at trial,” Justice Joel Bennathan said. “You continue to try to blame the complainant for everything that has happened.”

Trump told investigators he had placed a late-night FaceTime call to the woman, whom he had met on social media, and had been startled when the call had been briefly answered by a shirtless man on Jan. 18, 2025.

“That view lasted maybe one second and I was racing with adrenaline,” Barron Trump said. “The camera was then flipped to the victim getting hit while crying, stating something in Russian.”

BARRON TRUMP SPOTTED ON NYU CAMPUS FOR FIRST TIME SINCE INAUGURATION

Barron Trump looks on ahead of the Presidential Inauguration of Donald Trump at the Rotunda of the U.S. Capitol in Washington, D.C. on Jan. 20, 2025. (KEVIN LAMARQUE/POOL/AFP via Getty Images)

Barron Trump called the police in London.

“It’s really an emergency … I’m calling from the U.S., uh, I just got a call from a girl, you know, she’s getting beat up,” he told an operator.

Police responded to the address and arrested Rumiantsev, a London-based receptionist.

At his trial at Snaresbrook Crown Court, Rumiantsev was acquitted of rape and choking related to the attack, as well as a separate rape and assault allegation from November 2024.

His attorney, Sasha Wass, said that Trump wasn’t aware the woman had a boyfriend and questioned how much he could have seen in just a few seconds of video.

Barron Trump watches as his father, President Donald Trump attends an indoor Presidential Inauguration parade event at Capital One Arena, in Washington, Jan. 20, 2025. (AP Photo/Evan Vucci, File)

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Trump never testified in the case. However, the judge praised him for his quick-thinking actions.

“Mr, Trump properly and responsibly, despite being in the United States, made sure the emergency services here were called, and he told them what he had seen,” he said.

The Associated Press contributed to this report.

World

EU Parliament unblocks key political hurdle in digital euro talks

Published

5 hours ago

March 28, 2026

Press Room

EU Parliament unblocks key political hurdle in digital euro talks

Published on
27/03/2026 – 17:47 GMT+1

EU lawmakers have overcome a key political hurdle in the negotiations of digital euro, making the project closer to approval, according to a draft text seen by Euronews.

The Parliamentary rapporteurs involved in the legislation have found an agreement on the design of the digital euro, which will be able to function both online and offline.

The digital euro would be an electronic form of cash issued by the European Central Bank, designed to sit alongside banknotes and the payments services offered by commercial banks.

It has taken on new political weight as economic tensions between the EU and the US sharpen the debate over Europe’s reliance on American payment giants, such as Visa and Mastercard.

Under the European Commission’s proposal, digital euro users would have a wallet for both online and offline payments, with transactions designed so they are not trackable.

The situation in Parliament changed on Wednesday evening, when the centre-right politician Fernando Navarrete, who is the leading rapporteur on the file, announced the withdrawal of his position to reduce the scope of the digital euro to offline use only.

His position blocked the advancement of negotiations for months, jeopardising the whole legislative process, according to three sources familiar with the negotiations.

The political deadlock has pushed EU leaders to accelerate progress on the digital euro. At the European Council meeting on 19 March, they set a goal to have the digital euro legislation approved by the end of 2026.

With the Council, representing EU countries, having already adopted its position, the European Parliament is now the only institution left to advance the law.

“Thanks to our amendments and firm stance, we have finally broken the political deadlock on the digital euro. The distinction between online and offline has been removed, and it is now established as a single payment system,” Pasquale Tridico, the rapporteur for The Left, told Euronews.

However, lawmakers still need to agree on two key aspects: the “hold limits” and the “compensation.”

The hold limits determine the maximum amount a user can store in a digital euro wallet, while compensation sets out a model for reimbursing commercial banks that provide digital euro services.

Although negotiations are not yet complete, the text is expected to be voted on in the Parliament’s economy committee before the summer, according to a source familiar with the matter.