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Six European Economies Push to Advance Stalled EU Projects

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Ministers from six major European economies, including Germany, France, Poland, Spain, Italy, and the Netherlands, pledged to take the lead in advancing projects stalled by the EU’s slow decision-making processes. The virtual meeting followed criticism from the Trump administration over the EU’s lengthy deliberations, with leaders emphasizing the need to strengthen Europe’s competitiveness and defense capabilities amid geopolitical uncertainty. German Finance Minister Lars Klingbeil described the group as a flexible coalition, open to additional countries joining in the future.

While no concrete decisions were made, the ministers agreed to focus on key areas such as creating a capital markets union, enhancing the international role of the euro, coordinating defense investments, and securing critical minerals through joint purchasing and trade partnerships. The discussions underscored the growing emphasis on European sovereignty in light of global challenges from the U.S., Russia, and China. Officials stressed that the initiative would allow faster progress on crucial projects without requiring unanimous agreement from all 27 EU members.

The move reflects a broader push within Europe to adopt a “two-speed” approach, enabling smaller groups of countries to act independently on policy areas where consensus is difficult. German Chancellor Friedrich Merz and French leaders have long advocated for this strategy to accelerate economic and strategic initiatives, including trade deals and energy policies. Polish Finance Minister Andrzej Domański noted that Europe must act faster to respond to ongoing economic and geopolitical changes, signaling a shift toward more agile and pragmatic decision-making within the EU.

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Donetsk Remains Major Hurdle in Ukraine Peace Talks, Rubio Says

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U.S. Secretary of State Marco Rubio said active efforts are under way to resolve the territorial dispute over Donetsk, calling it the most difficult remaining obstacle in U.S.-mediated talks aimed at ending Russia’s war in Ukraine. Speaking at a Senate Foreign Relations Committee hearing on Wednesday, Rubio said negotiators have narrowed the talks to this single core issue, but warned it would be “very difficult” to bridge the gap.

Russian President Vladimir Putin has demanded that Ukraine surrender all of the Donbas region, including the remaining 20% of Donetsk still under Kyiv’s control, threatening to seize it by force if it is not handed over in a peace deal. Ukraine has firmly rejected territorial concessions, saying it will not cede land Russia has failed to capture militarily, a stance widely supported by Ukrainian public opinion and most of the international community.

Rubio said the United States may participate in follow-up talks expected in Abu Dhabi, though senior envoys involved in earlier discussions will not attend. Previous talks between Russian and Ukrainian officials ended without an agreement, but both sides signaled willingness to continue dialogue. Rubio also indicated that U.S. security guarantees for Ukraine could come into effect only after the conflict ends, amid reports that Washington is pressing Kyiv to accept a peace deal as a condition for long-term security support.

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Victims Sue German Bank After Vault Heist

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Victims of a high-profile German bank heist have begun filing lawsuits against Sparkasse Gelsenkirchen, after burglars drilled into a vault during the Christmas holidays and stole millions in cash and valuables. A lawyer representing the victims said three cases were filed on Wednesday at a court in Essen, accusing the bank of failing to maintain adequate security.

The theft occurred when masked intruders accessed the bank branch through a parking garage and bored into a vault containing thousands of safe deposit boxes. The incident shocked Germany and drew international attention. While the court declined to comment, the bank said it considered itself a victim and maintained that its premises were secured using state-of-the-art technology.

According to the lawyer, one claimant lost nearly €400,000 in cash stored after selling an apartment, while others lost jewellery, luxury watches, and gold worth tens of thousands of euros. The case has reignited debate over insurance coverage, as the bank has said contents of deposit boxes are typically insured for just €10,300, prompting warnings from regulators about customers understanding coverage limits.

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Storm Kristin Leaves Widespread Power Cuts in Portugal, Hits Spain With Snow and High Winds

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Storm Kristin knocked out electricity to more than 800,000 people across central and northern Portugal on Wednesday, toppling trees and power lines, damaging homes, and disrupting road and rail traffic. Authorities reported around 1,500 weather-related incidents as wind gusts reached up to 150 km/h, accompanied by heavy rain and snowfall. At least one person was killed near Lisbon when a tree fell onto a car.

Portugal’s grid operator E-Redes said crews were working to restore power to about 855,000 customers, though repair efforts were slowed by the severity of the weather. Emergency services remained on high alert as conditions continued to pose risks across affected regions.

The storm then moved into Spain, compounding disruption from an earlier system. Strong winds and snow affected more than 160 roads, including key motorways, while parts of central Madrid saw rooftops blanketed in snow. Spain’s weather agency AEMET warned of potentially hurricane-force gusts in some areas, prompting red alerts, park closures, and the suspension of outdoor activities.

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Germany Pushes ‘Two-Speed’ Europe With Core Group of Six Economies

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Germany is advocating a “two-speed” European Union to overcome decision-making gridlock and strengthen the bloc’s economic and strategic autonomy. German Finance Minister Lars Klingbeil said a core group of countries should move faster on key policies, arguing that the EU needs new momentum to respond to growing geopolitical and economic challenges.

Klingbeil has invited finance ministers from France, Poland, Spain, Italy and the Netherlands to form a leading group of six economies, with an initial video meeting planned as a starting point. The proposal aims to boost Europe’s sovereignty, resilience and competitiveness, as EU economies seek to reduce reliance on imported critical raw materials and shield themselves from global trade fragmentation and tariff risks.

According to a letter seen by Reuters, the initiative includes a four-point agenda focusing on advancing the capital markets union, strengthening the international role of the euro, improving coordination on defence investment, and securing supplies of strategic raw materials. Klingbeil said faster progress in these areas is essential to make Europe stronger, more independent and better prepared for an increasingly unpredictable global environment.

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Former French Senator Sentenced for Drugging MP

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Former French senator Joel Guerriau has been found guilty of spiking the drink of MP Sandrine Josso with ecstasy in an attempted sexual assault. Guerriau, 68, was sentenced to four years in prison, with 18 months to be served behind bars, and ordered to pay €5,000 in damages to Josso for emotional distress. The incident occurred in November 2023 at Guerriau’s Paris apartment, where he admitted giving her a drink containing MDMA, claiming it was accidental.

Josso, 50, recounted how she began feeling unwell after consuming the spiked champagne and managed to leave the apartment with the help of a colleague before receiving medical treatment. Toxicology tests later confirmed her blood contained three times the recreational dose of MDMA. Josso described the ordeal as deeply traumatic, noting that it left her psychologically scarred and more vulnerable to everyday triggers.

Guerriau, a centre-right senator from the Horizons party who resigned last October, expressed remorse for his actions but denied any intention to assault Josso. The MP has since become an advocate against drug-facilitated sexual assault, joining an association founded to combat chemical submission. Guerriau’s lawyers have stated that he plans to appeal the verdict.

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Spain to Grant Legal Status to 500,000 Undocumented Migrants

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Spain’s government has unveiled a draft decree to provide legal status to hundreds of thousands of undocumented migrants, in a bid to accelerate integration and support key economic sectors. The measure targets those who have lived in the country for at least five months by the end of 2025 and have no criminal record, as well as asylum applicants. The permit will initially be valid for one year, extendable up to five years for children, and could lead to citizenship after 10 years—or sooner for Latin American nationals and refugees.

The decree is expected to benefit around 500,000 people, primarily from Latin America, strengthening Spain’s approach to migration based on human rights, social cohesion, and economic growth. Migration Minister Elma Saiz emphasized that Spain’s openness to migrants has helped fuel employment in sectors such as hospitality and care, contributing to lower unemployment and robust economic performance relative to other European nations.

While the decree can be enacted by the cabinet without parliamentary approval, it faces potential political opposition. Conservative leader Alberto Nuñez Feijoo has pledged to reverse the policy if his party wins the next election. The initiative follows citizen-backed campaigns supported by hundreds of rights groups and the Catholic Church, aimed at regularizing undocumented migrants who now account for a significant portion of Spain’s non-EU population.

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Electric Car Sales Overtake Petrol Vehicles in EU for First Time

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Sales of fully electric cars in the European Union surpassed petrol vehicle sales for the first time in December, according to data from industry body ACEA. Battery-electric vehicle registrations also exceeded petrol sales across the wider European market, including Britain and Norway, as overall car sales posted a sixth consecutive month of year-on-year growth. Electrified vehicles—including battery-electric, plug-in hybrid and hybrid models—accounted for 67% of all EU registrations during the month.

The shift comes amid intensifying competition from Chinese automakers such as BYD, Geely and Changan, which are rapidly expanding their presence in Europe, challenging domestic manufacturers like Volkswagen and BMW. At the same time, EU policymakers have proposed easing emissions rules, including plans announced in December to drop an effective 2035 ban on combustion-engine cars, responding to pressure from carmakers facing profitability challenges and global trade headwinds.

Despite regulatory uncertainty, analysts and industry leaders expect electric vehicles to continue gaining market share. European brands are rolling out more affordable EV models, supported by fresh national incentive schemes. While analysts note that some decline in petrol sales reflects reclassification into mild hybrids, experts say the milestone signals a turning point, even if it may still take several years for pure electric cars to fully overtake combustion-engine models across Europe.

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ECB Should Brace for New Shocks, Including Russian Threats: Simkus

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European Central Bank policymaker and Lithuanian central bank governor Gediminas Simkus said the ECB’s current policy stance is appropriate, with inflation at target and interest rates in a neutral zone, but warned that fresh shocks could disrupt this balance. Speaking to Reuters, Simkus highlighted persistent global uncertainty driven by geopolitical tensions, particularly the risk of Russian military aggression in eastern Europe, alongside trade frictions and other external pressures.

Simkus stressed that the ECB must ensure its systems are resilient to such risks, including safeguarding cash distribution and payment infrastructure in case of heightened security threats. He noted that countries bordering Russia face unique challenges, ranging from cyberattacks to airspace incursions, and argued that central banks must remain operationally prepared. He also added that banks need to be ready for longer-term risks such as climate change.

On monetary policy, Simkus said interest rates are firmly on hold at the ECB’s February meeting, as modest inflation fluctuations around 2% are normal. However, he cautioned against signalling future moves, saying the next rate change could equally be a hike or a cut. Emphasising flexibility, he said the ECB should avoid overreacting to short-term data swings and instead focus on broader economic trends, as shocks tend to affect growth before feeding into inflation.

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Spain Cuts Speed on Madrid-Barcelona Line After Track Fault

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Spanish rail authorities have temporarily reduced the speed limit on a section of the high-speed line between Madrid and Barcelona after a crack was detected on the track 110 km west of Barcelona, between Alcover and l’Espluga de Francolí in Catalonia. Transport Minister Óscar Puente confirmed that the fault does not endanger trains, but the affected section will operate at 80 km/h until further notice, down from the usual 300 km/h.

The move follows several recent speed reductions on Spain’s high-speed network, including temporary cuts to 230 km/h on other parts of the Madrid-Barcelona line and sections of the Madrid-Valencia route. These adjustments come amid ongoing investigations into the Adamuz crash in Andalusia, which killed 45 people earlier this month due to a track weld failure, highlighting safety concerns across the network.

Meanwhile, local Rodalies services in Catalonia continue to experience severe disruption after multiple incidents, including a trainee driver’s death. Political opposition has criticized years of underinvestment, and Prime Minister Pedro Sánchez is scheduled to appear before Congress on February 11 to address the rail crisis.

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