Italy’s Meloni considers early election, Venezuela’s debt is much larger than first thought, EU talks to the Taliban

Elections on Giorgia’s mind

Italian Prime Minister Giorgia Meloni is reportedly considering early elections, as her popularity dips amid a rising challenge from the far right. Italy must vote by the end of 2027, but Meloni is reportedly eyeing an April date. Meloni, a sharp-tongued right-wing populist, won in 2022 on promises to tighten immigration, promote conservative values, and check EU power. But in office she has tacked to the center, seeking accommodation with Brussels, backing Ukraine, and widening legal immigration even as she cracks down on asylum seekers. She also failed to push through a controversial judicial reform, which was struck down by popular referendum. All of that has cost her support broadly, but the most pressing challenge for her comes from her own backyard, where the ultra-far right National Future Party has surged in polls and poached at least eight MPs from Meloni’s coalition.

Caracas’s hidden debt bombshell looms over its economy

Venezuela’s interim government is set to announce that the country’s total debt exceeds $240 billion, nearly $100 billion more than previously estimated. Interim President Delcy Rodríguez, who assumed power after ousted strongman Nicolás Maduro was removed by the United States in January, hopes to negotiate a restructuring agreement with creditors before the end of the year. That includes the IMF, which resumed formal engagement with Venezuela in April after a seven-year freeze – though few are confident a deal could be reached before 2027. A successful restructuring would mark Venezuela’s return to international markets after nearly a decade of isolation. Since its historic peak in 2012, Venezuela’s economy has shrunk from $370 billion to $100 billion. If an agreement is reached, it would become the largest sovereign debt restructuring in history, surpassing even Greece’s 2012 deal.

European Union hosts Taliban for deportation talks

Officials from the Afghan Taliban met with EU officials in Brussels for the first time in person on Tuesday, as European officials seek to deport Afghans whose asylum claims were rejected. The trade bloc still doesn’t recognize the group as the leaders of Afghanistan, and had to grant one-day visas to Taliban officials to allow the visit to take place. But the desire for stricter immigration enforcement appears to trump the criticism of the Taliban’s severe restrictions on women’s freedoms in Afghanistan. The EU isn’t the only one: the US, India, and Pakistan have deported Afghans who sought asylum in those countries following the Taliban takeover of 2021. What does the Taliban get in return? It’s not clear, but it does boost their international legitimacy.