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Britain Faces Economic Risks from U.S. Tariffs, Seeks Better Trade Terms

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Britain is confronting potential economic risks from U.S. President Donald Trump’s sweeping tariffs but has chosen not to retaliate, instead focusing on securing improved trade terms, Business Minister Jonathan Reynolds stated on Thursday. While the UK was spared the harshest penalties, facing a 10% levy compared to 20% or higher for other nations, its economy remains exposed to the broader consequences of a global trade slowdown.

Reynolds emphasized that as a globally oriented trading economy, Britain is particularly vulnerable to any disruptions in the international trade system. Speaking to Times Radio, he reaffirmed the government’s strategy of diplomatic negotiation, including closer alignment with the U.S. on key sectors like technology, in hopes of securing an economic deal that could lead to a reversal of the tariffs.

Despite adopting a measured approach, Reynolds made it clear that Britain would not rule out a response if the tariffs significantly harmed its economy. “We’ve got to reserve every right that we have to respond to this if we need to,” he said, while stressing the importance of maintaining a “cool-headed” strategy to navigate the challenges posed by the U.S. trade policy.

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Denmark PM to Visit Greenland Amid Tensions Over U.S. Interest in Arctic Island

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Danish Prime Minister Mette Frederiksen is set to visit Greenland on Wednesday for talks with the territory’s incoming government, following recent tensions over U.S. interest in the Arctic island. Frederiksen’s three-day visit comes less than a week after U.S. Vice President JD Vance’s trip to Greenland, which received a frosty response from both Danish and Greenlandic authorities. Incoming Greenlandic Prime Minister Jens-Frederik Nielsen welcomed Frederiksen’s visit, reaffirming Denmark as “Greenland’s closest partner.”

The relationship between Denmark and Greenland has been strained in recent years due to historical mistreatment of Greenlanders during colonial rule. However, growing international competition for influence in the Arctic, including former U.S. President Donald Trump’s past interest in acquiring Greenland, has pushed Denmark to strengthen ties with the island. Nielsen stated that Greenland seeks to maintain strong relations with Denmark while moving toward its long-term goal of sovereignty. He also emphasized the need for a respectful partnership with the U.S., rejecting suggestions of American control over the island.

During his visit to a U.S. military base in northern Greenland, Vance accused Denmark of failing to secure the territory and suggested the U.S. could provide better protection. Frederiksen dismissed his remarks as “not fair,” reiterating that Greenland’s future lies in the hands of its people. Opinion polls indicate that while most of Greenland’s 57,000 inhabitants support independence, many caution against moving too quickly, fearing economic instability and greater U.S. influence over the island’s affairs.

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French Court Bars Marine Le Pen from 2027 Presidential Race Over Embezzlement Conviction

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In a landmark ruling, a French court on Monday barred far-right leader Marine Le Pen from running in the 2027 presidential election after convicting her of embezzlement. Le Pen, 56, received a five-year ban from public office, along with a four-year prison sentence—two years suspended and two under home detention—and a €100,000 fine. The court found her guilty of misappropriating over €4 million in EU funds to pay her party’s staff, a charge she denies. While she vowed to appeal, the ruling could significantly reshape France’s political landscape ahead of the next election.

Le Pen’s conviction sparked outrage among her supporters and right-wing figures worldwide, with allies calling it judicial overreach. Billionaire Elon Musk accused the judiciary of targeting political opponents, while Hungarian Prime Minister Viktor Orbán expressed solidarity, tweeting, “Je suis Marine!” Le Pen condemned the decision as a politically motivated attempt to derail her presidential bid, asserting that millions of French citizens were “outraged to an unimaginable degree.” Despite her ban, she retains her parliamentary seat until the end of her term.

With Le Pen’s future uncertain, speculation is growing over who will lead the National Rally (RN) into the 2027 election. RN President Jordan Bardella, 29, is seen as her likely successor, but political analysts question whether he can rally the broad electorate needed to win. The court also found the RN party and 24 of its officials guilty, imposing a €2 million fine. As appeals in France can take years, Le Pen’s legal battle may continue well into the election cycle, keeping the political climate tense.

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Swedish Journalist Joakim Medin Jailed in Turkey on Terrorism Charges

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Swedish journalist Kaj Joakim Medin has been jailed in Turkey pending trial on terrorism charges after covering protests against Istanbul Mayor Ekrem Imamoglu’s arrest. Medin was detained in Istanbul as part of an investigation into a 2023 protest in Stockholm, where a mannequin resembling Turkish President Tayyip Erdogan was hung outside the city hall. Turkish authorities have accused Medin and 14 others of organizing, promoting, or having links to the demonstration.

Medin, a reporter for the Swedish newspaper Dagens ETC, has been charged with “insulting the president” and “membership in a terrorist organization.” His employer raised concerns after he was unreachable for two days. Editor-in-Chief Andreas Gustavsson insisted Medin was being punished for doing his job. Turkish officials also cited his past reporting from Syria, Iraq, and southeastern Turkey between 2014 and 2017.

He was formally arrested via video conference by an Ankara court after questioning in Istanbul. Sweden has summoned the Turkish ambassador in Stockholm to seek clarification and demand that Medin receive urgent consular access, Swedish Foreign Minister Maria Malmer Stenergard told public broadcaster SVT.

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Investors Pull Back as European Stocks Rally Faces Trade War Risks

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Investors are scaling back on European stocks and the euro after a strong first quarter, fearing that optimism over economic stimulus may have been overstated. Major asset managers, including Amundi and Legal & General Investment Management, are reducing bullish bets amid concerns over U.S. President Donald Trump’s impending trade tariffs set to be announced on April 2. Market strategists warn that a full-blown trade war could stall Europe’s sluggish recovery, with German stocks and the broader STOXX 600 already seeing declines following Trump’s recent 25% levy on car imports.

While European equities have outperformed U.S. stocks this year—STOXX 600 is up 7% compared to the S&P 500’s 3% drop—analysts suggest that the easy gains are over. The euro, which had fluctuated between $1.01 in February and a five-month high of $1.095 in March, remains vulnerable to shifts in market sentiment. Amundi’s head of global FX, Andreas Koenig, indicated that they would refrain from betting on further euro gains, wary of market reversals should tariffs strengthen the dollar. Meanwhile, asset managers like Russell Investments and Royal London Asset Management maintain a slight preference for European stocks but are hesitant to increase their positions further.

Despite cautious optimism, concerns persist over Europe’s long-term economic trajectory. Former European Central Bank chief Mario Draghi previously warned of Europe’s “slow agony,” calling for industrial policy reforms and investment boosts. While some investors believe fiscal stimulus could provide limited support, analysts argue that European markets need fresh catalysts, such as the implementation of Draghi’s recommendations, to sustain further growth. However, the looming trade tariff decision on April 2 remains a critical factor that could shift market dynamics and determine whether Europe can weather the global economic uncertainty.

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Pro-Russian Gagauz Leader Detained at Moldova Airport Amid Lawmaker Disappearances

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Moldovan authorities detained Eugenia Gutul, the leader of the pro-Russian Gagauz ethnic minority, at Chisinau’s international airport on Tuesday evening. Officials from Moldova’s Anti-Corruption Centre stated she would be held for 72 hours as part of an ongoing criminal investigation. Her arrest comes amid tensions between the central government and the autonomous Gagauzia region, which has historically maintained close ties with Russia.

Gutul, who was elected bashkan of Gagauzia in 2023 with backing from exiled business magnate Ilan Shor, has been a vocal critic of President Maia Sandu’s pro-European administration. She faces charges related to corruption and allegedly financing Shor’s political bloc, which Moldovan authorities accuse of receiving illicit funds to sway elections. The Moldovan government, which aims to join the European Union by 2030, has repeatedly accused Russia of attempting to destabilize the country.

Her detention follows the unexplained disappearances of pro-Russian lawmakers Alexandr Nesterovschi and Irina Lozovan, both facing corruption charges linked to Shor. Nesterovschi vanished the day he was sentenced to 12 years in prison, while Lozovan disappeared before her verdict. Shor, sentenced in absentia for a $1 billion bank fraud, is accused of attempting to use his “Victory” bloc to install pro-Russian lawmakers in Moldova’s upcoming parliamentary elections.

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Far-Right Bloc Enters German Parliament in Historic Election Result

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The largest far-right contingent in Germany’s Bundestag since World War II is set to take office as the new parliament convenes, following the February 23 election. The Alternative for Germany (AfD) secured 152 seats, doubling its previous representation and achieving the strongest performance by a far-right party in decades. Economic struggles, ongoing recession, and concerns over Russia’s war in Ukraine contributed to the AfD’s surge, narrowing the gap between them and the election-winning conservatives.

The new AfD lawmakers include controversial figures such as Maximilian Krah, who was previously excluded from the European Parliament over pro-SS remarks, and Mathias Helferich, who once referred to himself as “the friendly face of the Nazis.” The party, originally founded as an anti-euro movement, has shifted further to the nationalist right, advocating anti-immigration policies, support for Russia, and the dissolution of the European Union. Despite falling short of the 25% needed to set up parliamentary inquiries, its strong presence will influence political discourse and challenge the mainstream parties.

As the political landscape shifts, conservative leader Friedrich Merz faces challenges in forming a coalition with the Social Democrats and the Greens, with recent compromises weakening his standing. Meanwhile, the traditional political firewall against cooperation with the AfD is showing cracks, with court rulings ensuring their participation in parliamentary activities. While many lawmakers continue to shun AfD members, others argue that engagement, rather than isolation, is necessary in Germany’s evolving political climate.

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Parisians Vote to Pedestrianise 500 More Streets in Latest Referendum

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Paris residents have voted in favor of pedestrianising 500 additional streets, marking another step in the city’s efforts to curb car usage and improve air quality. In a referendum held on Sunday, 65.96% supported the measure, while 34.04% opposed it. However, voter turnout was low, with only 4.06% participating in the consultation organized by the municipality. The move aligns with the city’s broader push to reduce traffic congestion and promote greener urban spaces.

This referendum follows previous measures, including a 2023 ban on e-scooters and a recent decision to triple parking charges for large SUVs. The initiative will lead to the removal of 10,000 more parking spots, doubling the number removed since 2020. Paris’ two million residents will have a say in selecting the streets that will be transformed into pedestrian-friendly zones.

With these changes, Paris will have nearly 700 pedestrianised streets, accounting for just over one-tenth of the city’s total. Despite the progress, Paris still trails other European capitals in green infrastructure, covering only 26% of the city compared to the European average of 41%, according to the European Environment Agency. However, the city’s efforts under the Socialist-led administration have already contributed to a significant reduction in car traffic.

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Heathrow Closure Sparks Global Aviation Disruption, Costing Millions

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London’s Heathrow Airport faced an unprecedented shutdown after a fire at a nearby electrical substation caused a total power outage, affecting backup systems and grounding all 1,332 scheduled flights on Friday. Experts estimate the disruption could cost the aviation sector around £20 million ($26 million) per day, with ripple effects expected to last for days. The incident, described as the worst since the 2010 Icelandic ash cloud crisis, forced planes to divert across Europe and left thousands of passengers stranded.

Aviation and risk management experts criticized Heathrow’s contingency planning, questioning why better backup power measures were not in place at one of the world’s busiest airports. Heathrow had previously declared itself a leader in airfield resilience, but the failure to prevent a full shutdown has sparked concerns over vulnerabilities in critical infrastructure. British authorities are investigating the incident, though initial reports suggest no foul play.

The disruption has also drawn attention to contingency planning at other major airports worldwide. Aviation analysts warn that repositioning aircraft and crew will extend the impact for several days, with British Airways highlighting Heathrow’s chronic overcapacity issues. Similar outages in Britain’s air traffic control system in 2023 resulted in losses exceeding £100 million, further underscoring the need for improved resilience in global aviation hubs.

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Germany’s Bundesrat Set to Vote on €500 Billion Spending Package

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Germany’s Bundesrat, the upper house of parliament, is set to vote on Friday on a massive €500 billion ($546 billion) spending package aimed at revitalizing Europe’s largest economy and strengthening its military for a new era of European collective defense. The vote represents the final major hurdle before the package becomes law, unlocking billions in investments for infrastructure and defense amid concerns over economic stagnation and shifting global security dynamics.

The legislation, which passed the Bundestag earlier this week with support from the conservatives, Social Democrats (SPD), and Greens, is widely expected to clear the Bundesrat. It proposes easing Germany’s constitutionally enshrined debt brake to allow higher government spending, a move seen as crucial for boosting economic growth after two consecutive years of contraction. The conservatives and SPD are pushing to finalize the bill before the next Bundestag convenes on March 25, fearing opposition from far-left and far-right lawmakers.

For Chancellor-in-waiting Friedrich Merz, securing this legislation before taking office would mark a significant early victory. Merz, who led the conservatives to victory in last month’s election, has stressed the urgency of the package amid shifting U.S. policies under President Donald Trump, which have raised concerns about Europe’s security posture against Russia and China. He aims to finalize coalition talks with the SPD by Easter, setting the stage for his leadership in a rapidly evolving geopolitical landscape.

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