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What We're Watching

Italy Gets Belted – Later this month, Italy is likely to become the first G7 country to formally endorse China's Belt and Road global investment plan. Italian officials hope to draw Chinese investment into Italy's aging infrastructure and open Chinese markets to more Italian-made products. EU and American officials fear that Chinese investment will leave Italy dangerously deep in debt. (Italy is already the second most indebted country in Europe, after Greece.) They also worry that Italy's endorsement for Belt and Road will undermine their ability to present a united front when bargaining with China over trade and investment practices.

The Queen's Instagram Account – This week, England's Queen Elizabeth II posted on Instagram for the very first time. We'll be watching closely to be sure this lady doesn't become a nuisance.


What We're Ignoring

138: Russian state media has published 138 contradictory accounts of last year's nerve agent attack on former double agent Sergei Skripal in the UK. Ironically, Russian lawmakers moved this week to criminalize "fake news." #ForYourDisinformation

3D printed steaks – A Spanish scientist has created a 3D-printed vegan steak made of rice protein, pea protein, and algae fiber. It takes 10 minutes to print and two minutes to cook. Is this an environmentally friendly way to make a steak? Maybe. Will your Friday author give this a try? HELL NO.

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Another Polymarket ban
Will Fitzpatrick
Spain temporarily banned the US-based prediction markets Polymarket and Kalshi on Tuesday, as well as its rival Kalshi, arguing that they were operating without a gambling license. The ban will last three to four months, pending a review from the country’s gambling watchdog. The move comes as other bans against Polymarket, in particular, are [...]
French President Macron shaking hand with Norway's Prime Minister of the Kingdom Jonas Gahr Støre
The President of the French Republic, Emmanuel Macron, receiving the Prime Minister of the Kingdom of Norway, Jonas Gahr Støre, at the Elysee Palace in Paris, France, on May 27, 2026.
Quentin de Groeve / Hans Lucas via Reuters Connect
France to give Norway nuclear protectionWhen the sun shines, we’ll shine together — but when it doesn’t, you’ll have the protection of France’s nuclear arsenal. That, to adapt the classic Rihanna record, was the message from French President Emmanuel Macron to Norwegian Prime Minister Jonas Gahr Støre at a bilateral meeting in Paris on Wednesday. [...]
​Israel’s Prime Minister Benjamin Netanyahu attends a ceremony commemorating Israel’s Remembrance Day for fallen soldiers on Mount Herzl in Jerusalem, on April 21, 2026.

Israel’s Prime Minister Benjamin Netanyahu attends a ceremony commemorating Israel’s Remembrance Day for fallen soldiers, or Yom HaZikaron, at the Military Cemetery on Mount Herzl in Jerusalem, on April 21, 2026.

ILIA YEFIMOVICH/Pool via REUTERS
The United States and Iran seem to be moving closer to a deal to end the war, recent skirmishing and mixed signals notwithstanding. If concluded – still a big if – this agreement would reopen the Strait of Hormuz, lift the US blockade, unfreeze Iran’s frozen assets (via Qatar), and extend the ceasefire – while kicking nuclear negotiations down the [...]
Iranian President Pezeshkian and Acting Minister of Defense Brigadier General Ebn-e-Reza during a meeting in Tehran.

May 26, 2026, Tehran, Iran: Iranian President MASOUD PEZESHKIAN (L) and Iranian Acting Minister of Defense Brigadier General MAJID EBN-E-REZA (R) during a meeting in Tehran.

Iranian Presidency via ZUMA Press
US-Iran: Is a deal still possible? The merry-go-round of negotiations between the two countries continues. The latest began on Saturday, when US President Donald Trump said an agreement was “largely negotiated,” before Iran poured cold water on this. The US military then hit Iranian missile launchers and boats suspected of dropping mines in the [...]