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Italy Misses 2025 Deficit Target, Pressure on PM Meloni

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Italy’s 2025 budget deficit came in at 3.1% of GDP, slightly above the European Union’s 3% ceiling, according to ISTAT. While lower than 2024’s 3.4%, the miss casts doubt on Rome’s plan to exit the EU’s Excessive Deficit Procedure early, which could have eased spending constraints ahead of the 2027 elections.

The eurozone’s third-largest economy grew by 0.5% in 2025, matching the government’s revised forecasts, though growth remains below 1% for the fourth consecutive year despite EU recovery funds. The 2026 deficit is targeted at 2.8%, with the government hoping for modest improvement amid lingering fiscal challenges.

Italy’s public debt also exceeded expectations, rising to 137.1% of GDP from 134.7% in 2024, above the government’s 136.2% target. With debt levels remaining the second-highest in the eurozone after Greece, the Meloni administration faces mounting pressure to control spending while promoting economic growth.

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Travel Shares Plunge as US-Iran Conflict Disrupts Flights

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Global travel markets tumbled on Monday as escalating tensions between the U.S., Israel, and Iran forced closures of key Middle Eastern airports, including Dubai and Doha, leaving tens of thousands of passengers stranded. European travel giants such as TUI, Lufthansa, Air France-KLM, and IAG saw shares drop between 7–9%, while U.S. airlines fell around 5% in pre-market trading. Analysts cited flight cancellations, rerouting costs, and rising fuel prices as major pressures, despite hedging strategies.

Asian carriers were also affected, with airlines including Cathay Pacific, Singapore Airlines, Japan Airlines, Air China, and ANA Holdings suspending flights to the Middle East. Air India canceled routes to Europe, the U.S., and the Gulf, while Chinese airlines reported 26.5% of Middle East flights canceled for the week. Experts warned that disruptions could last for weeks, though broader schedule adjustments were still being monitored.

Passengers faced chaotic travel changes as Dubai and Doha airports, major international hubs, shut down. Travelers scrambled for alternatives, often with little guidance from airlines like Qatar Airways and Virgin Australia. The situation highlights the global ripple effect of geopolitical conflicts on aviation, travel demand, and logistics.

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EU Urges Restraint and Respect for International Law in Iran Conflict

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The European Union’s 27 member states have called for “maximum restraint” and full adherence to international law amid escalating hostilities involving Iran. In a statement issued after an emergency meeting of foreign ministers, EU foreign policy chief Kaja Kallas stressed the need to protect civilians and uphold the principles of the UN Charter and international humanitarian law. The appeal followed U.S. and Israeli strikes on Iran and Tehran’s retaliatory attacks on Israel, U.S. forces and Gulf countries, which the EU described as inexcusable violations of sovereignty.

The bloc also voiced concern about the broader regional and economic fallout of the conflict, warning against escalation that could destabilize the Middle East and beyond. It highlighted the importance of keeping critical waterways such as the Strait of Hormuz open, citing risks to global energy supplies and supply chains. Disruptions to oil flows could have significant economic consequences for Europe, which is already grappling with geopolitical uncertainty.

The joint statement reflected differing views within the EU over the U.S.-Israeli military action. While German Chancellor Friedrich Merz signaled caution against criticizing allies, Spanish Prime Minister Pedro Sánchez rejected the strikes as contributing to global instability. Diplomats acknowledged that Europe has limited leverage over the unfolding crisis, despite the potential for serious regional and economic repercussions.

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EU Clarifies Social Fund Can Support Cross-Border Access to Safe Abortions

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The European Commission has clarified that member states may use the European Social Fund to provide free abortion services to women traveling from EU countries with restrictive laws. The announcement followed the “My Voice, My Choice” citizens’ initiative, which gathered over one million signatures urging the bloc to ensure equal access to safe and legal abortion care. While the Commission stopped short of proposing a new funding tool, it confirmed that existing resources could be reallocated to support women, particularly those in vulnerable situations, seeking procedures abroad.

The move comes as countries such as Poland and Malta maintain near-total abortion bans, and access remains limited in nations including Italy and Croatia. Supporters argue that women across the 27-member bloc should have equal healthcare rights regardless of national restrictions. Campaign coordinator Nika Kovac welcomed the clarification, calling it the first clear confirmation that EU funds can be used to guarantee safe abortion access across borders.

However, critics — including conservative lawmakers and far-right groups — say the decision interferes with national sovereignty over health policy and undermines traditional values. Opponents argue that using EU social funds for abortion-related services effectively bypasses domestic laws. The clarification reflects broader tensions within Europe, where abortion access has expanded in countries such as France and the UK, even as far-right parties opposing abortion gain political ground.

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Sweden Says Russian Drone Jammed Near French Carrier in Malmö

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Sweden’s armed forces have confirmed that a drone jammed near the French aircraft carrier Charles de Gaulle in Malmö was Russian. The drone was detected about seven nautical miles from the carrier and was seen taking off from a nearby Russian intelligence-gathering vessel in Swedish territorial waters. The Swedish Navy acted quickly to disrupt the drone using jamming technology, which interferes with its control signals. The Kremlin has dismissed the accusation as “absurd.”

The Charles de Gaulle, visiting Sweden for the first time, is set to participate in NATO exercises across the Baltic and Atlantic regions under the La Fayette 26 mission. Swedish Prime Minister Ulf Kristersson described the incident as serious but not unexpected, suggesting it fit a broader pattern of Russian behavior. French Foreign Minister Jean-Noël Barrot called any confirmed Russian involvement a “ridiculous provocation,” while French military officials emphasized that the incident did not affect the carrier’s operations.

The episode comes amid months of reported drone sightings near military facilities across NATO member states, including Denmark and the Baltic countries. Sweden’s coast guard has also launched a separate investigation into a fuel spill in Malmö’s port, though authorities say it is unrelated to the carrier’s visit. The carrier strike group’s deployment signals France’s strengthened military engagement with northern European allies in response to growing tensions with Moscow.

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Voll Stars as Australia Clinches ODI Series in Healy’s Farewell

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Georgia Voll scored her second international century to help Australia women’s cricket team defeat India by five wickets in the second ODI, sealing the series with a game to spare. Voll’s 101 off 82 balls, supported by Phoebe Litchfield’s 80, powered Australia’s successful chase of 252 runs despite early setbacks with the loss of captain Alyssa Healy for six.

The Australian pair added 119 runs for the second wicket after Healy’s dismissal, breaking the backbone of India’s bowling attack. Voll later added 82 runs in 67 balls with Beth Mooney before being dismissed by Kashvee Gautam. Ash Gardner finished the innings, ensuring victory with 83 balls to spare. India had earlier posted 251-9, led by Harmanpreet Kaur’s 54 and a 78-run opening stand between Pratika Rawal and Smriti Mandhana.

India’s innings suffered a mid-innings collapse, losing four wickets for 40 runs, while Australia’s bowlers, including Gardner, Annabel Sutherland, and Alana King, shared six wickets between them. The win marked a fitting farewell series for Healy, leaving the squad and fans celebrating Australia’s dominant performance in her final ODIs.

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Bedrooms for Sale Underscore Europe’s Deepening Housing Crisis

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A growing number of unconventional property deals across Europe are highlighting the severity of the region’s housing crisis, particularly for young buyers. In Spain, startup Habitacion.com is selling individual bedrooms in shared flats for up to 80,000 euros — roughly a third of the cost of a one-bedroom apartment in cities like Madrid and Barcelona. Buyers are matched through compatibility tests and must rely on personal loans rather than traditional mortgages. The company sold 200 rooms last year and has a waiting list of 32,000, reflecting strong demand as property prices have far outpaced wage growth.

Elsewhere, similar creative solutions are emerging. In London, developer Fairview offers a “Buddy Up” scheme that helps friends jointly purchase homes and contributes toward legal fees. Banks in countries including Britain, France, Germany and Italy are also reviving low- or zero-deposit mortgages that largely disappeared after the 2008 financial crisis. While these loans come with higher costs and stricter income requirements, they offer an entry point for buyers struggling to save for down payments amid soaring rents.

Analysts say such measures underscore how traditional home ownership is increasingly out of reach for younger Europeans. Over the past decade, house prices in the European Union have risen significantly faster than incomes, squeezing affordability in major cities. Some renters are even turning to fractional property investments through firms like PropHero to help offset rent costs. Experts warn that these complex arrangements reflect worsening affordability, with prospective buyers forced to accept higher risks and legal complexities simply to secure a foothold in the property market.

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Two Killed, Dozens Injured as Tram Derails in Central Milan

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Two people were killed and about 40 others injured after a tram derailed in central Milan on Friday, local firefighters said. The accident occurred on Vittorio Veneto street near the city’s Central Station, when one of the newest trams in operation came off the tracks and crashed into a shop window.

Emergency services rushed to the scene, deploying 13 ambulances to assist the injured. Civil protection teams set up a temporary tent nearby to provide medical support, according to eyewitness accounts. Images from the site showed rescue workers attending to passengers and securing the damaged area.

Milan’s public transport operator, Azienda Trasporti Milanesi (ATM), said it was “deeply shocked” by the incident and expressed sympathy for those affected. The company added it was cooperating with authorities to determine the cause of the derailment.

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Russia’s Gulf Pivot Fuels Surge in Arabic-Speaking Tourists

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Russia is witnessing a sharp rise in visitors from Gulf nations as closer diplomatic and economic ties translate into a tourism boom. From husky sledding near Moscow to hot air balloon rides over snow-covered landscapes, tourists from Oman, the United Arab Emirates, Qatar and Saudi Arabia are embracing winter experiences unfamiliar in their desert homelands. Attractions around the capital have added Arabic signage and tailored services to cater to the growing influx.

The surge comes amid Moscow’s strategic pivot away from the West during its war in Ukraine, strengthening engagement with Gulf states that have played diplomatic roles in prisoner exchanges and humanitarian efforts. Increased direct flights, visa-free arrangements and warmer political ties have supported the growth. Saudi Arabia ranked second among foreign visitors last year with nearly 75,000 tourists — a 36% annual increase — while arrivals from the UAE exceeded 59,000. Tour operators say some markets, including Saudi Arabia, have expanded nearly fifteenfold compared with pre-pandemic levels.

Despite sanctions and logistical hurdles, including airport disruptions and cash payment limitations due to suspended Western card services, Gulf tourists are spending heavily on luxury hotels, shopping and premium experiences. Russia recorded 1.64 million foreign visitors in 2025, a modest increase from the previous year though still below pre-pandemic peaks. Industry leaders say demand from Arab countries continues to grow, even as security checks and geopolitical tensions present ongoing challenges.

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Italy’s Bonus-Seat Reform Could Hand Meloni Strong Majority

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A proposed reform of Italy’s electoral system could significantly boost Prime Minister Giorgia Meloni’s chances of securing a second term, according to new studies. The ruling centre-right coalition has agreed to shift to a fully proportional voting system that includes a seat bonus for any coalition winning more than 40% of the vote. The measure, which still requires parliamentary approval, is designed to ensure governing stability but has drawn sharp criticism from the opposition.

Analysis by polling firm YouTrend suggests that under the current mixed system, neither the centre-right nor the left would likely win an outright majority, raising the prospect of a hung parliament. However, under the proposed rules, Meloni’s Brothers of Italy party and its allies — the League and Forza Italia — would secure a clear majority. The winning coalition would receive a 70-seat bonus in the 400-member lower house and 35 extra seats in the 200-member Senate, capped at 60% of total seats.

The opposition Democratic Party has denounced the reform as an attempt to tilt the system in favour of the government, while Meloni’s allies argue it would prevent political gridlock after the 2027 election. A separate poll indicated the centre-right currently leads by about four percentage points, enough under the new rules to translate a narrow vote advantage into a commanding parliamentary majority.

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