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Ukraine's President Volodymyr Zelenskiy, Moldova's President Maia Sandu and President of the European Council Charles Michel attend a joint press conference, amid Russia's attack on Ukraine, in Kyiv, Ukraine November 21, 2023.
Europe flirts with the East but won’t yet commit
The European Union has expanded to the East in recent years, but some would-be members remain in line to join the club.
On Tuesday, Ukraine and Moldova finally began talks to join the European Union after applying for membership within weeks of Russia’s 2022 invasion of Ukraine. (Ironically, it was Ukrainian protests over their president’s failure to sign a trade agreement with Europe that triggered the uprising that led Vladimir Putin to invade Crimea in 2014.)
Eager to encourage them, the EU has “fast-tracked” their processes, but aligning with the union’s dozens of policy requirements takes time. (Just ask Turkey, now entering its 20th year of talks.) Ukraine must also contend with efforts by Hungary’s government, Russia’s best European friend, to block Kyiv’s bid to join both the EU and NATO.
But the EU isn’t the only club open for new memberships. The eurozone, a monetary union comprised of 20 member states, told EU members Bulgaria and Romania they haven’t yet cleared the hurdles needed to adopt the euro. Bulgaria is close; of all the needed economic criteria, its high inflation is the only remaining barrier to entry. Romania must do much more to tame inflation, bribery, money laundering, and Russian influence on its policymaking.
Republican presidential candidate and former U.S. President Donald Trump attends a campaign rally in Green Bay, Wisconsin, U.S., April 2, 2024.
Hard Numbers: Trump and RNC fundraising haul, NATO’s long-term plan for Ukraine, Uganda’s anti-gay law upheld, Eurozone inflation cools
65.6 million: Former President Donald Trump and the RNC raised $65.6 million in March, ending the month with $93.1 million in cash on hand. This should be welcome news to Trump as he faces a slew of money problems. President Joe Biden has been outpacing Trump in terms of 2024 fundraising so far, but his campaign has yet to release numbers for last month.
107 billion: NATO is considering a plan for a $107 billion, five-year fund for Ukraine. The proposal, pushed by NATO chief Jens Stoltenberg, has been met with skepticism by some members of the alliance — particularly Hungary. Ukraine has relied heavily on foreign aid amid its war with Russia, but internal divisions in the West have seen assistance dry up in recent months. Stoltenberg says the alliance needs to ensure Ukraine is supported for the “long haul.”
14: Uganda’s constitutional court on Wednesday slapped down a petition to overturn the country’s controversial anti-gay law, which permits the death penalty for “aggravated homosexuality,” among other harsh and discriminatory penalties. The petition was put forward by 14 people, including legislators, activists, and law professors. One of the petitioners pledged to appeal the decision.
2.4: Eurozone inflation surprisingly fell last month, raising expectations for a rate cut in June. Consumer prices were 2.4% higher in March compared to last year, down from 2.6% in February.Russian Ambassador to the UN Vasily Nebenzya speaks at the United Nations Security Council in New York, U.S., September 30, 2022.
Hard Numbers: Russia to helm Security Council, Sonko seized, Stubborn EU inflation, Australia vs. climate change
30: Russia is set to helm the UN Security Council as of April 1, a transition of power that Ukraine has dubbed "an April Fool's joke." The council's presidency rotates every 30 days. As president, Russia – and Putin, by extension – will have the ability to set the security council’s agenda. While there have been calls to boycott, Russia's Foreign Minister Sergei Lavrov is expected to chair the meeting in New York in April.
2: Senegalese opposition leader Ousmane Sonko received a 2-month suspended prison sentence on Thursday. He was found guilty of defaming Senegal's minister of tourism by accusing him of embezzlement. Sonko came in third in the last presidential election and is looking like a frontrunner ahead of the 2024 race. In an attempt to placate supporters who saw his arrest as politically motivated, authorities decided the sentence will not prevent Sonko from running for office.
7.8: Inflation in Germany remains stubbornly high, hitting 7.8% this month, despite drops in energy costs and easing economic pressures in the Eurozone. Meanwhile, Spain's annual inflation dropped by half, which sounds promising … but core consumer inflation (which excludes energy and food) remains just as high there as in Deutschland. The report comes on the heels of the European Central Bank raising interest rates by half a percentage point earlier this month.
30: Australia passed an emissions reduction bill on Thursday aimed at lowering greenhouse gas emissions by 30% by 2030. The bill, which uses a "safeguard mechanism" to target the most significant industrial polluters, represents some cooperation on environmental matters in a country where climate change has been a divisive political issue.
Can the eurozone survive with its economy shrinking at a record rate?
Can the Eurozone survive with the economy going downhill as fast as it does? What can be done?
Yes, it can survive. But it's going to be tricky times. I think all of the advanced economies are going to suffer very significant setbacks in terms of economic growth. And there is a need for enormous stimulus and demand support measures. That's already also done. The problem that is there in the eurozone is the discrepancy between the economic performance of the different countries. And that will have to be sort of addressed.
Will Germany be forced to reintroduce lockdowns, when there are signs of the infection starting to take off again?
Well, I think this problem is going to be encountered by virtually every country. You've seen in Singapore, that it's going to be not a straight curve down. It's going to be ups and downs. And that must be weighed against, all the time, to sort of, reinforce measures or reinforce lockdowns, now and then, as we enter a very gradual and very careful period of trying to learn to live with the virus. We haven't got rid of it. We have to learn to live with it, the one way or the other.