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Rachel Reeves Faces £4.4 Billion Deficit, Tough Budget Choices Ahead

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British Finance Minister Rachel Reeves is set to face a £4.4 billion ($5.7 billion) deficit in her budget, reversing a previous surplus projection, according to the Resolution Foundation. The think tank warned that weaker economic growth and higher interest rate expectations have worsened the UK’s financial outlook, with the Office for Budget Responsibility expected to cut its 2025 growth forecast significantly. The Bank of England has already slashed its projection to 0.75%, mirroring the Resolution Foundation’s prediction.

With Reeves’ budget update scheduled for March 26, she is under pressure to meet fiscal rules that require balancing public spending with tax revenues by 2030. However, experts caution against deep welfare cuts and suggest tax increases instead. The rising cost of government borrowing, largely influenced by U.S. economic policies under President Donald Trump, has added to Britain’s fiscal strain. The Resolution Foundation urged Reeves to act decisively while ensuring that lower-income households are not disproportionately affected.

Prime Minister Keir Starmer and Reeves had pledged during last year’s election not to raise income tax, value-added tax, or corporate tax rates. One potential revenue-boosting measure could be extending the current freeze on income tax thresholds until 2030, which would generate billions. However, with fiscal pressures expected to intensify, experts warn that ruling out tax increases entirely could make future budgets even harder to balance.

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Massive Student-Led Protests Sweep Belgrade Over Corruption Allegations

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Thousands of protesters, mainly students, flooded Serbia’s capital on Friday ahead of a massive anti-government rally over the weekend. Many traveled hundreds of miles on foot or by bike to protest against President Aleksandar Vucic’s administration, which they blame for corruption and mismanagement. The demonstrations were sparked by the deaths of 15 people in a railway station collapse in Novi Sad last November, a disaster critics say was a result of government negligence.

The protesters, cheered by supporters waving Serbian flags, marched into central Belgrade, where students from the capital laid out a red carpet for their arrival. Bikers revved their engines, and passing cars honked in support. Authorities anticipate up to 80,000 demonstrators, though organizers claim the number will be much higher. Meanwhile, Vucic’s loyalists set up camp near his office, surrounding it with tractors in a show of support. The president has urged police restraint but warned that those threatening public order will be arrested.

In response to mounting pressure, the government has launched an anti-corruption campaign and charged 13 individuals over the railway disaster. Outgoing Prime Minister Milos Vucevic stated that police would intervene if violence erupts. The protests, the largest in decades, have united students, teachers, farmers, and workers, posing a serious challenge to Vucic, who has held power for 12 years as either prime minister or president.

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Britain Warns of U.N. Sanctions on Iran Over Uranium Enrichment

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Britain has warned that it will trigger the return of U.N. sanctions on Iran if necessary to prevent Tehran from acquiring a nuclear weapon. This comes as the U.N. Security Council met behind closed doors to address Iran’s rapid uranium enrichment to 60% purity, nearing weapons-grade levels. Western nations argue that such high enrichment is unnecessary for civilian use, while Iran insists its nuclear program remains peaceful. Britain’s deputy U.N. Ambassador James Kariuki emphasized the country’s commitment to taking diplomatic measures, including sanctions, to curb Iran’s nuclear ambitions.

The U.S. and its allies have accused Iran of violating International Atomic Energy Agency (IAEA) obligations and defying the Security Council. Iran, in turn, has condemned the U.S. for what it calls the “weaponization” of the council to escalate economic pressure on Tehran. Meanwhile, China is set to host a meeting with Russia and Iran to discuss the nuclear issue, urging diplomatic efforts to salvage the Joint Comprehensive Plan of Action (JCPOA), the 2015 nuclear deal. China’s U.N. Ambassador Fu Cong warned that maximum pressure tactics would not yield effective results.

With the 2015 U.N. resolution on the Iran nuclear deal expiring in October, Britain, France, and Germany will soon lose the ability to trigger snapback sanctions. Former U.S. President Donald Trump has instructed diplomats to work with allies to reinstate international restrictions before the deadline. As tensions rise, the window for diplomatic negotiations appears to be closing, increasing the risk of renewed sanctions and further geopolitical friction.

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Former Georgian President Mikheil Saakashvili Sentenced to Nine More Years in Prison

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Former Georgian President Mikheil Saakashvili was sentenced to an additional nine years in prison on Wednesday after being found guilty of embezzlement, according to the Interpress news agency. Saakashvili, who led Georgia from 2004 to 2013, was already serving a six-year sentence for abuse of power after his return to the country in 2021. He has spent much of his imprisonment in a prison hospital due to reported health concerns.

The courtroom erupted in chaos following the verdict, with Saakashvili’s supporters accusing the judge of being controlled by the ruling government. Once a widely popular leader who rose to power through the 2003 Rose Revolution, Saakashvili implemented sweeping reforms that aligned Georgia with the West. However, his tenure later became controversial, marred by allegations of authoritarianism, police brutality, and a failed 2008 war with Russia.

After leaving office, Saakashvili moved to Ukraine, where he briefly served as governor of the Odesa region. Despite being convicted in absentia of abuse of power, he returned to Georgia in 2021 and was immediately arrested. His United National Movement party had lost power in 2012 to a coalition led by billionaire Bidzina Ivanishvili, who remains Georgia’s de facto leader.

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Portugal Faces Likely Early Election as Confidence Vote Looms

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Portugal’s parliament is set to vote on a motion of confidence in Prime Minister Luis Montenegro’s minority centre-right government on Tuesday, with rejection all but certain. The move comes amid opposition criticism over Montenegro’s past involvement in a consultancy firm now run by his sons. With the centre-left Socialists and far-right Chega vowing to vote against him, a failed motion would push the government into a caretaker role, leaving President Marcelo Rebelo de Sousa to decide on a potential mid-May election.

Analysts predict another inconclusive result if fresh elections are held, as recent polls show little shift in voter preferences since the tight March 2024 election, which Montenegro’s Democratic Alliance (AD) won by just 1,500 votes. The AD currently holds 80 seats in the 230-seat parliament, narrowly ahead of the Socialists’ 78, raising concerns about continued political instability. Many voters, fatigued by frequent elections, express frustration over the lack of clear leadership.

Experts believe the only viable path to stability is a rare centrist alliance between Montenegro’s Social Democrats and the Socialists, a scenario last seen in 1983-1985. Political scientist Adelino Maltez warns that without such a pact, Portugal risks enduring further deadlock and uncertainty, with no single party securing a strong mandate.

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Romania Bars Far-Right Candidate Calin Georgescu from Presidential Re-Run

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Romania’s central election authority has barred far-right pro-Russian candidate Calin Georgescu from running in the May presidential election re-run, citing a prior Constitutional Court ruling that annulled the original vote due to allegations of Russian interference. The decision, reached by a 10-to-4 vote, has intensified a constitutional crisis in the EU and NATO member state, with Georgescu’s supporters denouncing it as political suppression. U.S. figures, including tech billionaire Elon Musk and Vice President JD Vance, have criticized the move, while European diplomats back Romania’s judicial independence.

Following the announcement, violent protests erupted outside the election bureau, where Georgescu’s supporters clashed with security forces, throwing rocks, overturning cars, and setting fires. Police deployed teargas to disperse the crowds. The former frontrunner remains under criminal investigation for multiple charges, including membership in a fascist organization and financial misconduct, though he denies any wrongdoing.

Georgescu had surged to prominence through a highly coordinated social media campaign despite claiming to have spent no funds. His disqualification has further strained U.S.-European relations, particularly amid tensions over the White House’s stance on Ukraine. While he plans to challenge the ruling in Romania’s Constitutional Court, experts suggest the appeal is unlikely to succeed.

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Minister P Rajeev: Architect of Kerala’s Industrial Renaissance

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A strategic thinker and influential policymaker, Minister P Rajeev has been at the forefront of Kerala’s industrial transformation, driving progressive reforms and economic modernization. From his early activism to his tenure as a Rajya Sabha MP and now as Kerala’s Minister for Industries, Law, and Coir, Rajeev has played a key role in fostering an investment-friendly environment, enhancing judicial transparency, and spearheading industrial innovation. Committed to sustainable growth, he continues to position Kerala as a model of development and governance.

A Respected Leader in Kerala’s Political Landscape

Few names command as much admiration in Kerala’s political sphere as P Rajeev. A seasoned politician, legal expert, and dedicated public servant, his journey from student activism to holding a crucial ministerial portfolio is a testament to his perseverance and leadership. As the Minister for Industries, Law, and Coir, he has significantly influenced policy decisions and led transformative reforms that have strengthened Kerala’s reputation as a progressive state.

Early Life and Academic Pursuits: The Foundation of Advocacy

Born in Meladoor, Thrissur, Rajeev’s early education at Government Samithy High School shaped his intellectual and social consciousness. He later attended Christ College, Irinjalakuda, before earning a bachelor’s degree in Economics from St. Paul’s College, Kalamassery. His passion for law led him to Government Law College, Ernakulam, where he obtained his LL.B. Additionally, he pursued a diploma in Chemical Engineering from Government Polytechnic College, Kalamassery.

His student years marked the beginning of his active political engagement, particularly through student activism, laying the groundwork for his future in mainstream politics.

Political Ascent: From Student Activism to Leadership

Rajeev’s political career began with his association with the Students’ Federation of India (SFI), the student wing of the Communist Party of India (Marxist) (CPI(M)). Recognized for his leadership abilities, he rose to serve as the President and Secretary of the SFI Kerala State Committee.

As he transitioned into the Democratic Youth Federation of India (DYFI), he took on the role of district secretary, solidifying his reputation as a dynamic youth leader. His ability to mobilize public sentiment, articulate socio-political concerns, and advocate leftist ideologies made him a prominent figure in Kerala’s political sphere.

His unwavering commitment to social justice and economic development earned him a place in the CPI(M) State Secretariat. Currently, he serves as a Central Committee member of CPI(M), actively contributing to the party’s strategic decision-making and policy formulation.

Rajya Sabha Tenure: A Voice for the People

Rajeev’s political acumen and dedication to public service were recognized nationally when he was elected to the Rajya Sabha on April 27, 2009. His tenure in the upper house (2009–2015) was defined by his commitment to legislative excellence.

Known for his articulate and well-researched arguments, Rajeev actively participated in debates on governance, economic policies, and industrial development. His clarity of thought and persuasive speech earned him bipartisan respect.

His contributions were acknowledged by prominent leaders, including former Finance Minister Arun Jaitley, Congress leader Ghulam Nabi Azad, BSP chief Mayawati, and Rajya Sabha Deputy Chairman PJ Kurien.

A defining moment in his parliamentary career came in 2016 when he was honored with the Sansad Ratna Award for his outstanding contributions to Indian democracy, cementing his reputation as one of Kerala’s most influential parliamentarians.

Ministerial Leadership: Steering Kerala’s Progress

Rajeev expanded his political footprint by contesting the 2019 Indian general elections from Ernakulam (Lok Sabha constituency). However, his major electoral success came in the 2021 Kerala Legislative Assembly elections, where he secured a decisive victory from Kalamassery by defeating V E Abdul Gafoor of the Indian Union Muslim League.

Recognizing his leadership abilities, he was appointed as the Minister for Industries, Law, and Coir in the second Pinarayi Vijayan ministry. Under his leadership, Kerala has achieved significant advancements in industrial growth, legal reforms, and modernization of the coir sector.

Driving Industrial Growth and Economic Reforms

As Industries Minister, Rajeev has introduced progressive policies that have reshaped Kerala’s industrial landscape. His tenure has been marked by:

  • Encouraging investments and making Kerala an attractive destination for investors.
  • Streamlining business approval processes to improve the ease of doing business.
  • Expanding Public-Private Partnerships (PPP) to attract global investors.
  • Introducing the Kerala Industrial Policy 2022, focusing on sustainable growth, innovation, and employment generation.

At the Invest Kerala Global Summit, the state secured investment proposals worth ₹1,52,905 crore, with plans to convert a significant portion into projects, generating 20 lakh jobs by mid-2026. His efforts have successfully transformed Kerala’s perception among investors, debunking the notion that the state is not industry-friendly.

Rajeev has also played a pivotal role in major infrastructure projects, such as the Vizhinjam Transshipment Port, which is set to revolutionize Kerala’s trade and logistics sector. His emphasis on sustainable industrial growth has led to initiatives like the Kerala Green Hydrogen Valley project, which gained global recognition from the World Economic Forum (WEF). He led the state’s delegation to Davos for the WEF annual meeting, further elevating Kerala’s global economic presence.

Building on the success of the Invest Kerala Global Summit, Rajeev has been actively working to ensure that investment commitments translate into real projects. His ministry has set up task forces to fast-track approvals, address investor concerns, and facilitate smooth project execution. By integrating emerging sectors such as artificial intelligence, renewable energy, and biotechnology, he is steering Kerala towards a technology-driven economy.

His vision extends beyond immediate job creation, focusing on long-term economic resilience, skill development, and a thriving startup ecosystem, aligning Kerala with global industrial trends.

Legal Reforms: Strengthening Kerala’s Judicial Framework

With his legal background, Rajeev has introduced significant reforms to modernize Kerala’s judicial system. His initiatives include:

  • Digitization of court procedures to enhance transparency and efficiency.
  • Reducing case backlogs to ensure quicker judicial processes.
  • Legal aid programs to provide justice for marginalized communities.

His focus on judicial efficiency and transparency has strengthened Kerala’s legal infrastructure, making it more accessible and effective.

Transforming the Coir Industry

Kerala’s coir industry, a key contributor to the state’s economy, has undergone major modernization under Rajeev’s leadership. His reforms have included:

  • Introducing technology in coir production to enhance productivity.
  • Implementing welfare schemes for workers to improve livelihoods.
  • Expanding market access and exports to increase global competitiveness.

By balancing modernization with tradition, he has ensured that Kerala’s coir industry remains both competitive and sustainable.

A Thought Leader in Political and Legal Discourse

Beyond politics, Rajeev has made noteworthy contributions to scholarly literature. His book, ‘Bharanaghadana: Charithravum Samskaravum’, received the Abu Dhabi Sakthi Award (2020) for its insightful exploration of constitutional governance. His writings reflect a deep understanding of political, economic, and legal frameworks, reinforcing his status as a thought leader.

A Lasting Legacy: The Road Ahead

P Rajeev’s journey—from student activism to ministerial leadership—exemplifies dedication, resilience, and impactful governance. His progressive policies, industrial reforms, and legal advocacy have significantly shaped Kerala’s development trajectory.

As he continues to drive Kerala towards economic and legal transformation, he stands as a symbol of visionary leadership, proving that intellectual depth and grassroots activism can create meaningful change.

With an enduring legacy of excellence and commitment, Rajeev remains one of Kerala’s most dynamic political figures, shaping the state’s future with unwavering determination.

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Former French Security Chief Bernard Squarcini Convicted for Misusing Public Resources to Benefit LVMH

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A Paris court has found Bernard Squarcini, former head of France’s domestic security services, guilty of misusing public resources to benefit luxury giant LVMH. Squarcini, who led the agency from 2008 to 2012 before being hired as a security consultant by LVMH, was sentenced to two years of house arrest with an electronic bracelet, plus a two-year suspended sentence and a €200,000 fine. His conviction stems from using state resources to track down blackmailers targeting LVMH chairman Bernard Arnault in 2008 and aiding in the illegal surveillance of French lawmaker François Ruffin and his team in 2013.

The court found that Squarcini had ordered security agents to monitor a cyber café in Aix-en-Provence to identify a suspect sending extortion emails to Arnault, justifying the act as protecting French economic interests. He was also complicit in the surveillance of Ruffin and members of his left-wing publication Fakir, who planned to disrupt an LVMH shareholder meeting and were producing the satirical documentary Merci Patron. The film, which won the French César Award for Best Documentary in 2017, highlighted the struggles of workers affected by LVMH’s business practices.

While LVMH settled a criminal probe into the case in 2021 with a €10 million payment without admitting guilt, the company declined to comment on the latest ruling. Bernard Arnault told the court he was unaware of the illegal surveillance, which he said had been arranged by a close associate who passed away in 2018. Ruffin’s lawyer welcomed the verdict but expressed disappointment that Arnault himself was not among the defendants. Squarcini’s legal team announced plans to appeal the decision.

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Switzerland Cancels Geneva Conventions Conference on Palestinian Territories

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Switzerland has cancelled a planned conference on the application of the Geneva Conventions to the occupied Palestinian territories due to a lack of consensus among participating states. The event, scheduled for March 7 in Geneva, aimed to address the humanitarian situation in the West Bank, Gaza, and East Jerusalem under the Fourth Geneva Convention. However, Switzerland’s Foreign Affairs Ministry confirmed the cancellation after some countries expressed dissatisfaction with the draft declaration.

The Palestinian ambassador to the United Nations in Geneva, Ibrahim Khraishi, criticized the proposed declaration for lacking concrete measures, calling instead for economic and diplomatic actions against Israel to ensure the implementation of the Geneva Conventions. The Organisation of Islamic Cooperation also planned to boycott the event, stating that the document failed to reflect the severity of the situation. Israel, which has been engaged in a war with Hamas and expanding settlements in the West Bank, dismissed the conference as “legal warfare” against the country.

Several Western nations, including Britain, declined to fully support the proposed declaration, leading to a lack of participation. While some European states intended to attend, concerns from Israel’s allies contributed to the conference’s cancellation, marking a diplomatic setback for neutral Switzerland, which has long been known for hosting peace talks and conflict mediation efforts.

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EU Leaders Push for Increased Defence Spending Amid U.S. Uncertainty

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European Union leaders are set to endorse bold measures to boost defence spending and reaffirm support for Ukraine during a high-stakes summit in Brussels on Thursday. The meeting, attended by Ukrainian President Volodymyr Zelenskiy, comes amid growing concerns over the U.S.’s shifting stance on military aid under Donald Trump. French President Emmanuel Macron has stressed the need for Europe to prepare for its own security, even suggesting that France’s nuclear arsenal could be extended to protect EU allies. Meanwhile, Germany is moving to loosen borrowing limits to fund additional defence spending, and the European Commission has proposed mobilizing up to €800 billion for European defence.

Despite widespread European support for Ukraine, internal divisions remain, with Hungary’s Prime Minister Viktor Orban threatening to veto a statement backing Kyiv. EU foreign policy chief Kaja Kallas has proposed a military aid pledge of at least €20 billion for Ukraine in 2025, but disagreements persist over contributions, with Nordic and Baltic nations urging larger commitments from France, Italy, and Spain. Paris, Rome, and Madrid reject claims they are not doing enough, arguing that public figures do not fully reflect their military contributions.

The summit highlights the deepening geopolitical rift as Europe seeks to bolster its security in the face of a potentially reduced U.S. role. Trump’s mixed signals on NATO and Ukraine have fueled concerns about European defence autonomy, prompting urgent discussions on coordinated military efforts. While most EU nations are eager to reassure Ukraine of continued support, Orban’s opposition underscores lingering fractures within the bloc. European leaders are now working to finalize concrete defence measures and financial commitments to safeguard the continent’s security.

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