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Demonstration against pension reform took place in Bordeaux.

Reuters

Days after the French government passed much-despised pension reforms, chaos reigns throughout the country.

At least 457 people were arrested and more than 441 security personnel were injured on Thursday in protests over the reforms, which will incrementally increase the retirement age from 62 to 64. For background on why President Emmanuel Macron says the reforms are central to plugging France’s ballooning debt hole and boosting productivity, see here.

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Demonstrators drape the national flag of Israel on the walls of Jerusalem's Old City.

Reuters

Bibi’s not backing down

Israelis waited with bated breath on Thursday evening as news broke that PM Benjamin “Bibi” Netanyahu was preparing to brief the nation after another “day of disruption” saw protesters block roads and strike over the government’s proposed judicial reforms.

The trigger for the impromptu public address was a meeting between Bibi and Defense Minister Yoav Gallant, also from the ruling Likud Party, who has voiced increasing concern that the looming judicial reform would threaten Israel’s national security, particularly as more and more army reservists are refusing to show up for training.

That never happened. While he talked about healing divisions, a defiant Netanyahu came out and said he will proceed to push through the reform, which, among other things, would give the government an automatic majority on appointing Supreme Court judges. This came just a day after the Knesset, Israel’s parliament, passed a bill blocking the attorney general from declaring Netanyahu unfit for office due to a conflict of interest over his ongoing legal woes and his bid to dilute the power of the judiciary. In response, the attorney general released a letter Friday saying Netanyahu's involvement in judicial reform is "illegal," suggesting a much-dreaded constitutional crisis may have begun.

Two things to look out for in the days ahead: First, what does Defense Minister Gallant do next? If he threatens to – or does – resign, it could set off subsequent defections and be a game changer. Second, how do the markets respond? Indeed, markets rallied Thursday before Bibi’s address in hopes that the government was set to backtrack on the reforms that are spooking investors, but the shekel value slumped after the speech.

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U.S. President Joe Biden and Canadian PM Justin Trudeau during a bilateral meeting at the North American Leaders' Summit in Mexico City, Mexico, January 10, 2023.

REUTERS/Kevin Lamarque/File Photo

Amid the pomp and pageantry accompanying President Joe Biden’s first official visit to Canada, he and Canadian PM Justin Trudeau are looking to make some deals.

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A parade participant in a Winnie the Pooh costume waves a Chinese flag before the Lunar New Year parade in the Chinatown neighborhood of New York, U.S., February 12, 2023.

REUTERS/Bing Guan/File Photo

0: That's how many Hong Kongers can watch the in-theaters-only slasher film “Winnie the Pooh: Blood and Honey,” after the movie’s distributors pulled it from cinemas. The honey-loving bear has been in the crosshairs of Chinese censors since this photo of Xi Jinping and Barack Obama went viral almost a decade ago.

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Ukraine's President Volodymyr Zelenskiy awards a Ukrainian service member at a position near a frontline, in Donetsk region, Ukraine March 22, 2023.

Ukrainian Presidential Press Service/Handout via REUTERS

Russia and Ukraine score points where they can

Volodymyr Zelensky visited frontline troops in war-ravaged Bakhmut, located in Ukraine’s eastern province of Donetsk, on Wednesday as Russian drones struck across the country. While planning for the trip was surely well underway before Vladimir Putin’s surprise stop in Russian-occupied Mariupol last weekend, the contrast underlined Zelenksy’s signal of defiance.

By appearing in Bakhmut very near the fighting, Zelensky reminded the world that, six months after Putin mobilized 300,000 new Russian soldiers for a deeper advance into Ukraine, even the small city of Bakhmut remains beyond their grasp.

In other war news, Russia has warned it will respond harshly to shipments from the UK to Ukraine of anti-tank munitions made from depleted uranium. Moscow claims this step adds an escalatory nuclear element to the conflict. In response, the UK insists the Russian position is propaganda, that the use of depleted uranium is common in anti-tank weapons, and that it contains nothing that can be used to make nuclear or radiological weapons. Finally, Russia has announced a plan to raise an additional $8 billion in revenue by changing the way oil profits are taxed.

All these stories underscore the reality that, while little has changed on the battlefield, Russians and Ukrainians are still looking for every small advantage they can gain in what looks increasingly like a war of attrition.

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A graph comparing Venezuela's GDP per capita with the average price of crude oil.

Paige Fusco

Venezuela has the world’s largest oil reserves but a combination of corruption, mismanagement, and tough US sanctions since the Maduro regime came to power in 2013 has meant that the petrostate has failed to benefit from its vast reserves of liquid gold.

While high oil prices under the Chavez regime in the early 2000s gave a boost to Venezuela’s middle class, US sanctions first imposed in 2006 – and significantly ramped up under the Obama and Trump administrations – have cut Caracas off from US financial systems.

Economic hardship is rife, with a staggering 50% of people living in extreme poverty. Pervasive hopelessness has also led to one of the worst migrant crises in the world.

In a bid to offset a global energy crisis in 2022 as a result of Russia’s war in Ukraine, the Biden administration began lifting some sanctions on the Venezuelan oil sector. So how are things faring? We look at GDP per capita and corresponding oil prices since 1999.

Car drivers queue to fill their fuel tank at a TotalEnergies gas station in Nice as petrol supplies are disrupted by a strike of French refineries and depots, France, March 20, 2023.

REUTERS/Eric Gaillard

13: As French protesters continue to strike and block oil refineries in response to the government’s recently passed pension reform, 13% of petrol stations around the country are running short on gas. What’s more, a lack of shipments from LNG terminals is raising fears of shortages – and elevated prices – across Europe.

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