Blog

  • MIL-OSI Europe: Written question – EU actions on the energy crisis in Moldova – E-000094/2025

    Source: European Parliament

    Question for written answer  E-000094/2025/rev.1
    to the Commission
    Rule 144
    Piotr Müller (ECR)

    Moldova’s recent accusations that Russia triggered the Transnistria crisis by manipulating gas supplies and supporting destabilisation activities underline the need for the EU to step up its efforts to promote stability and provide support in Eastern Europe.

    • 1.What specific forms of humanitarian, financial and political support is the Commission already implementing or planning to implement in order to help Moldova deal with the energy crisis, especially in the Transnistria region? What measures are being taken to support Moldovan citizens affected by the reduction in gas supplies, including in cooperation with international organisations and EU Member States?
    • 2.How does the Commission intend to counter Russian influence in Transnistria and prevent further destabilisation of the region and what mechanisms is the Commission implementing to curb Russia’s activities, including providing support for separatist movements and carrying out energy blackmail?

    Submitted: 13.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Security: John Matthew Nigh

    Source: US Marshals Service

    NOTICE TO LAW ENFORCEMENT: Before arrest, verify warrant through the National Crime Information Center (NCIC). If subject is arrested or whereabouts known, contact the nearest U.S. Marshals Service office, American Embassy/Consulate, call the U.S. Marshals Service Communications Center at 1-800-336-0102, or submit a tip using U.S. Marshals Service Tips.

    For More Information Scan Code Above.

    MIL Security OSI

  • MIL-OSI Europe: Written question – The impact of tax hikes in Spain – A threat to competitiveness and social cohesion – E-000251/2025

    Source: European Parliament

    Question for written answer  E-000251/2025
    to the Commission
    Rule 144
    Nora Junco García (ECR), Diego Solier (ECR)

    We view with great concern the fiscal policy of the current Spanish Government, led by Pedro Sánchez. The government has announced an unprecedented tax increase, estimated at EUR 60 billion. This increase represents a revenue equivalent to Spain’s annual spending on education, or double the amount obtained through corporate taxation, and is a disproportionate blow to citizens, who are already affected by inflation and economic stagnation.

    Spain does not need more taxes; it needs structural reforms. The excuse of harmonising the tax burden with other EU countries is unfounded, as it fails to consider that richer countries have robust economies that can support higher tax burdens without harming their citizens. In Spain, by contrast, a poorly designed tax model continues to punish labour recruitment and entrepreneurship. We are concerned that these fiscal plans ignore viable alternatives, such as optimising public spending.

    In view of this:

    • 1.How does the Commission assess the impact of a tax hike of this magnitude on Spain’s economic competitiveness and social cohesion?
    • 2.What measures does the Commission propose to prevent NextGenerationEU funds from being wasted on ineffective projects?
    • 3.Is the Commission considering revising its approach to Spain to prioritise structural reforms rather than tax increases?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Cybersecurity scandal in the Spanish Tax Agency – E-000250/2025

    Source: European Parliament

    Question for written answer  E-000250/2025
    to the Commission
    Rule 144
    Nora Junco García (ECR), Diego Solier (ECR)

    We are extremely concerned about the alarming cybersecurity situation in Spain, specifically in relation to the recent announcement of an alleged theft of data from the Spanish Tax Agency. According to numerous reports and cybersecurity companies, a group of hackers, using advanced technology called ‘Trinity’, claims to be in possession of more than 560 GB of sensitive information on Spanish taxpayers.

    While the Spanish government has denied evidence of the attack, the country’s own cybersecurity experts are seriously investigating the threat. This incident, together with previous episodes such as the attack on the Spanish Directorate-General for Traffic, is evidence of an alarming lack of preventive measures and inadequate management in the protection of citizens’ sensitive data.

    The seriousness of this case not only puts citizens’ privacy at risk, but also exposes systemic negligence in the Spanish public administration.

    In light of the above, can the Commission answer the following:

    • 1.Does the Commission consider that Member States’ state cybersecurity systems should be more strictly assessed by EU bodies to avoid cross-border risks?
    • 2.What action does the Commission intend to take to ensure that personal data across the EU is protected against national negligence?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – The sustainability of Spanish public spending – E-000252/2025

    Source: European Parliament

    Question for written answer  E-000252/2025
    to the Commission
    Rule 144
    Nora Junco García (ECR), Diego Solier (ECR)

    The sustainability of the public benefit system in Spain faces a serious challenge. According to recent data, the number of people who depend on public salaries, pensions and subsidies already exceeds those working in the private sector: 18 million versus 17.7 million. This situation, combined with a rapidly ageing population and pension expenditure that reached EUR 12.8 million in August, calls into question the future viability of the system.

    The problem is not only demographic, but structural. The Spanish Government has promoted policies of uncontrolled public spending, increasing citizens’ dependence on the state and weakening the business and productive fabric. Without a robust private sector to generate employment and wealth, the system will collapse.

    Reforms are needed to promote efficiency, reduce wasteful spending and foster an enabling environment for the private sector.

    In view of the above:

    • 1.What measures does the Commission plan to implement to encourage the sustainability of the pension system in Member States with critical demographics such as Spain?
    • 2.What strategies does the Commission suggest to strengthen the private sector and reduce citizens’ dependence on state subsidies?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Germany: INERATEC’s e-fuel demo plant in Frankfurt gets €70 million from EIB, EU-Commission and Breakthrough energy

    Source: European Investment Bank

    • The Capital injection will finance development of Europe’s first large-scale e-Fuel plant in Frankfurt and further research and development of INERATEC`s e-Fuels.
    • INERATEC`s e-fuels will support compliance with EU regulation requirements to add synthetic aviation fuel to kerosene to decarbonize aviation
    • Financing includes a €30million grant by Breakthrough Energy Catalyst, their first in Germany, underpinning the maturity of INERATEC’S technology 

    The European Investment Bank (EIB) and Breakthrough Energy Catalyst are providing a €70 million funding package through the EU-Catalyst Partnership to INERATEC, a Germany based e-fuel company. The EIB is providing a €40 million venture-debt-loan, backed by the EU`s InvestEU-program, while Breakthrough Energy Catalyst is awarding a grant of €30 million. The package will support the financing of INERATEC’s carbon neutral e-fuel production plant in Frankfurt, as well as further research and development. The Frankfurt plant is set to be Europe`s largest when opening in 2025.

    Long term market growth expected for e-SAF and e-Fuels

    E-fuel production uses CO2 and hydrogen to produce synthetic fuels and chemicals that are carbon neutral or close to carbon neutral when used. They have significant potential in hard-to-decarbonize sectors such as aviation, where commercial demand is underpinned by clear regulation. Therefore, long-term market growth can be expected.

    The EU’s ReFuelEU Aviation regulation requires that aviation fuel suppliers provide jet-fuel with 1.2 per cent minimum synthetic fuel content by 2030, rising to 35 per cent in 2050. Based in Karlsruhe, Germany, INERATEC is well placed for this growing market, offering an efficient, scalable modular design.

    INERATEC’S Frankfurt plant will produce up to 2,500 tons of e-fuels and e-chemicals, including e-sustainable aviation fuel (e-SAF). The plant will also incorporate an upgrading facility, enabling the e-crude oil to be refined into certifiable, ready-to-use sustainable aviation fuel on site. The fuel will support compliance with the EU’s synthetic aviation fuel mandate.

    INERATEC’s Frankfurt plant to show e-Fuel production is possible at scale

    EIB-Vice-President Nicola Beer said: “E-fuels are a crucial part of achieving a competitive net-zero economy, particularly in the mobility and transport sector. Game-changing technologies like Ineratec’s play a vital role in this transition. Together with the European Commission and Breakthrough Energy, through the EIB’s venture debt product, we are supporting an innovative startup in scaling up production and advancing research to make e-fuels a viable, sustainable alternative to fossil fuels.”

    INERATEC CEO Tim Boeltken said: “INERATEC’S Frankfurt production plant will show that e-fuel production is no longer a technological concept but a scalable reality. Reliable production of certifiable e-SAF is possible in the near-term – at commercial scale, that will be a breakthrough for sustainable aviation. This investment from EIB and Breakthrough Energy Catalyst is a sign of confidence in the INERATEC technology and approach.”

    Mario Fernandez, Head of Breakthrough Energy Catalyst, adds: “We are delighted to be working with INERATEC. This ground-breaking project will bring us a decisive step closer to the decarbonisation of aviation.”

    The financing reinforces EIB position as the ‘The Climate Bank’, a priority in the EIB Group’s 2024-2027 Strategic Roadmap, and supports the objectives of the European Commission’s RefuelEU aviation regulations.

    Background information

    EIB

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. It finances investments that contribute to EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

    The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition. The InvestEU programme brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

    EIB venture debt is a quasi-equity investment product suitable for early and growth stage ventures, combining a long-term loan with an instrument linking the return to the performance of the company. Since 2015, the EIB has invested €6 billion in Venture Debt, backing over 200 companies and realising over 50 exits. With the backing of InvestEU, the EIB aims to support European ventures and scale-ups in the cleantech, deep-tech and life sciences sectors.

    INERATEC is committed to defossilizing and decarbonizing the world. The company produces e-Fuels and e-chemicals: carbon-neutral fossil fuel substitutes for use in the aviation, shipping and chemical industries. Its modular, scalable plants use renewable hydrogen and biogenic CO2 to produce synthetic kerosene, gasoline, diesel, waxes, methanol or natural gas. It is building what will be the world’s largest e-fuels plant to date, in Frankfurt, which will produce up to 2,500 tonnes of ultra-low-carbon aviation fuel per year. The company is based in Karlsruhe, Germany and backed by diverse international investors. www.ineratec.com

    Breakthrough Energy is committed to accelerating the world’s journey to a clean energy future. The organization funds breakthrough technologies, advocates for climate-smart policies, and mobilizes partners around the world to take effective action, accelerating progress at every stage.

    Breakthrough Energy Catalyst is a novel platform that funds and invests in first-of-a-kind commercial projects for emerging climate technologies. By investing in these opportunities, Catalyst seeks to accelerate the adoption of these technologies worldwide and reduce their costs.

    Catalyst currently focuses on five technology areas: clean hydrogen, sustainable aviation fuel, direct air capture, long-duration energy storage, and manufacturing decarbonization. In addition to capital, Catalyst leverages the team’s energy-infrastructure-investing and project-development expertise to work with innovators on advancing their projects from the development stage to funding and ultimately, to construction. Learn more about Breakthrough Energy and Catalyst at breakthroughenergy.org.

    MIL OSI Europe News

  • MIL-OSI Europe: Study – Le principe de protection de l’environnement, une perspective de droit comparé: Union européenne – 29-01-2025

    Source: European Parliament

    Ce document s’intègre dans une série d’études qui, avec une perspective de droit comparé, visent à faire une présentation du principe de protection de l’environnement dans différents ordres juridiques. Après avoir expliqué le droit positif et la jurisprudence d’application, le contenu, les limites et la possible évolution de ce principe sont examinés. La présente étude a pour objet le cas de l’Union européenne. Le principe est garanti par une série de dispositions des traités et l’article 37 de la Charte des droits fondamentaux. Il est mis en œuvre par un arsenal quantitativement et qualitativement très important de normes et réglementations qui font l’objet d’une abondante jurisprudence de la Cour de justice de l’Union européenne sur l’interprétation et l’application de ce droit dérivé. L’étude approfondit de manière critique les composantes du principe et la façon dont celui-ci se combine avec d’autres principes ou droits.

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Request to eliminate subsidies for Morocco – E-000245/2025

    Source: European Parliament

    Question for written answer  E-000245/2025
    to the Commission
    Rule 144
    Nora Junco García (ECR), Diego Solier (ECR)

    Morocco, a country with a limited gross domestic product per capita and an economy still dependent on traditional sectors, is experiencing significant economic growth thanks to long-term strategies. This development is having a direct impact on Spain, especially in strategic sectors such as industry and logistics. Massive foreign investment, extremely favourable fiscal conditions and projects such as the development of the port of Tanger Med, which already exceeds the port of Algeciras in terms of traffic, are evidence of a model that is keeping Spain’s competitiveness in check.

    However, Spain is not only facing an external challenge. Misguided policy decisions have contributed to weakening essential infrastructures such as the rail corridor to Algeciras, hampering its competitiveness. Moreover, the Spanish Government has allowed a worrying dependence on Morocco in strategic areas such as the control of migratory flows and natural resources, compromising national sovereignty and economic stability.

    All this proves that the economic balance within the European Union is at stake. In view of the above:

    • 1.What measures is the Commission considering to ensure that European subsidies to non-EU countries do not harm Member States?
    • 2.What specific initiatives is the Commission planning to strengthen the logistical corridors in southern Europe, such as the Algeciras corridor?
    • 3.Is the Commission assessing the economic impact of Morocco’s fiscal and labour policies on key European industries?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Alleged breach of cooling-off period rules for former Commissioners – E-000229/2025

    Source: European Parliament

    Question for written answer  E-000229/2025
    to the Commission
    Rule 144
    Marieke Ehlers (PfE), Auke Zijlstra (PfE), Ton Diepeveen (PfE)

    The Commission has authorised former Commissioner Thierry Breton to join the US company Bank of America. This decision would appear to be at odds with the rules in force, which set a 2-year cooling-off period for former Commissioners, and with Article 245 of the Treaty on the Functioning of the European Union (TFEU).

    The cooling-off period applies to relations that are susceptible to lobbying or a potential conflict of interests.

    Mr Breton appears to demonstrate that his role on the bank’s Global Advisory Council (GAC) will be purely advisory and unremunerated, but does not appear to rule out a conflict of interests.

    • 1.Is an unremunerated job a valid reason for exempting a former Commissioner from the cooling-off period?
    • 2.Does the Commission consider that a ‘purely advisory role’ by definition rules out lobbying?
    • 3.How will the Commission verify whether Mr Breton is engaging in lobbying or not in the exercise of his duties on the GAC, and how will it monitor any conflicts of interest that may arise in the exercise of his duties on the GAC?

    Submitted: 20.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Italy’s compliance with Directive (EU) 2015/2366 in relation to electronic payment fees on pagoPA – E-000238/2025

    Source: European Parliament

    Question for written answer  E-000238/2025
    to the Commission
    Rule 144
    Pasquale Tridico (The Left), Dario Tamburrano (The Left)

    Directive (EU) 2015/2366 (PSD2) requires Member States to prevent payees from charging fees for the use of payment instruments for which the interchange fees are regulated by Chapter II of Regulation (EU) 2015/751.

    In Italy, the pagoPA platform charges fees for payments made with debit or credit cards, at varying rates depending on the payment service provider chosen. These fees may represent a burden for citizens using electronic payment instruments to fulfil their administrative obligations.

    In view of the above, can the Commission answer the following questions:

    • 1.Is the Commission aware of the fact that fees are being charged for electronic card payments on pagoPA in Italy, and does it consider this to be in line with the provisions of the PSD2 and Regulation (EU) 2015/751?
    • 2.Will it check that Italy is complying with EU legislation on payment services, in particular with regard to the charging of fees for electronic payments made to the public administration?
    • 3.Will it take measures to ensure that electronic payments to public bodies do not come with additional fees, in line with the PSD2’s objectives of promoting the use of efficient and secure electronic payment instruments?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Gender inclusivity in Italy’s National Guarantor Authority for the rights of persons with disabilities – E-000239/2025

    Source: European Parliament

    Question for written answer  E-000239/2025
    to the Commission
    Rule 144
    Pasquale Tridico (The Left), Carolina Morace (The Left)

    The National Guarantor Authority for the rights of persons with disabilities – established in March 2024 and operational since 1 January 2025 – was set up to implement the 2006 UN Convention on the Rights of Persons with Disabilities.

    The Presidents of the Chamber of Deputies and the Senate appointed three male members to the Authority’s board, meaning there is no female representation at all, which is clearly at odds with the principles of equality and inclusivity.

    Article 8 TFEU and Article 23 of the EU Charter of Fundamental Rights enshrine the principle of gender equality, requiring the Union and the Member States to eliminate inequalities and promote gender balance in all their policies.

    The lack of transparency in the selection criteria undermines the impartiality of, and confidence in, the decision-making process.

    In view of the above:

    • 1.Does the Commission consider it acceptable that the Guarantor Authority – an institution responsible for combating discrimination – is made up entirely of men, despite the fact that women with disabilities face significant multiple discrimination?
    • 2.What measures will it take to ensure balanced gender representation on the boards of guarantor authorities, in line with the principles enshrined in Article 8 TFEU and Article 23 of the Charter?
    • 3.Will it propose legislative changes to ensure that transparent, inclusive and impartial selection criteria are used in similar situations?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Free-trade agreements: impact on the EU’s trade balance – E-000240/2025

    Source: European Parliament

    Question for written answer  E-000240/2025
    to the Commission
    Rule 144
    Barbara Bonte (PfE)

    The Commission announced last week that it had reached a political agreement with Mexico on modernising the Global Agreement with that country, which was concluded in 2000, and had begun negotiations with Malaysia on a free-trade agreement.

    • 1.What has been the impact of the Global Agreement with Mexico on the EU’s trade balance?
    • 2.What products and services does Mexico supply the EU with that we cannot produce within the EU ourselves?
    • 3.What products and services will Malaysia supply the EU with that we cannot produce within the EU ourselves?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI: Adams Resources & Energy, Inc. Stockholders Approve Acquisition by an Affiliate of Tres Energy LLC

    Source: GlobeNewswire (MIL-OSI)

    HOUSTON, Jan. 29, 2025 (GLOBE NEWSWIRE) — Adams Resources & Energy, Inc. (NYSE AMERICAN: AE) (“Adams” or the “Company”) announced today that its stockholders have voted at a special meeting of the Company’s stockholders (the “Special Meeting”) to approve the pending acquisition of the Company by an affiliate of Tres Energy LLC. Under the terms of the merger agreement that was approved at the Special Meeting, Adams stockholders will receive $38.00 per share in cash for each share of Adams common stock they own immediately prior to the effective time of the merger.

    Approximately 77% of the Company’s outstanding shares were voted at the Special Meeting, and the merger was approved by over 76% of the Company’s outstanding shares. The final voting results on the proposals voted on at the Special Meeting will be set forth in a Form 8-K that will be filed by the Company with the U.S. Securities and Exchange Commission (the “SEC”).

    The merger is expected to close in early February 2025, subject to customary closing conditions.

    Forward-Looking Statements and Information

    This communication contains “forward-looking statements” within the Private Securities Litigation Reform Act of 1995. Any statements contained in this communication that are not statements of historical fact, including statements about the timing of the proposed transaction, Adams’s ability to consummate the proposed transaction and the expected benefits of the proposed transaction, may be deemed to be forward-looking statements. All such forward-looking statements are intended to provide management’s current expectations for the future of the Company based on current expectations and assumptions relating to the Company’s business, the economy and other future conditions. Forward-looking statements generally can be identified through the use of words such as “believes,” “anticipates,” “may,” “should,” “will,” “plans,” “projects,” “expects,” “expectations,” “estimates,” “forecasts,” “predicts,” “targets,” “prospects,” “strategy,” “signs,” and other words of similar meaning in connection with the discussion of future performance, plans, actions or events. Because forward-looking statements relate to the future, they are subject to inherent risks, uncertainties and changes in circumstances that are difficult to predict. Such risks and uncertainties include, among others: (i) the risk that a condition of closing of the proposed transaction may not be satisfied or that the closing of the proposed transaction might otherwise not occur, (ii) risks related to disruption of management time from ongoing business operations due to the proposed transaction, (iii) the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of Adams, (iv) the risk that the proposed transaction and its announcement could have an adverse effect on the ability of Adams to retain customers and retain and hire key personnel and maintain relationships with its suppliers and customers, (v) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the Merger Agreement, including in circumstances requiring the Company to pay a termination fee, (vi) unexpected costs, charges or expenses resulting from the Merger, (vii) potential litigation relating to the Merger that could be instituted against the parties to the Merger Agreement or their respective directors, managers or officers, including the effects of any outcomes related thereto, (viii) worldwide economic or political changes that affect the markets that the Company’s businesses serve which could have an effect on demand for the Company’s products and services and impact the Company’s profitability, and (ix) disruptions in the global credit and financial markets, including diminished liquidity and credit availability, cyber-security vulnerabilities, crude oil pricing and supply issues, retention of key employees, increases in fuel prices, and outcomes of legal proceedings, claims and investigations. Accordingly, actual results may differ materially from those contemplated by these forward-looking statements. Investors, therefore, are cautioned against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in Adams’s filings with the SEC, including the risks and uncertainties identified in Part I, Item 1A – Risk Factors of Adams’s Annual Report on Form 10-K for the year ended December 31, 2023 and in the Company’s other filings with the SEC.

    These forward-looking statements speak only as of the date of this communication, and Adams does not assume any obligation to update or revise any forward-looking statement made in this communication or that may from time to time be made by or on behalf of the Company, whether in response to new information, future events, or otherwise, except as required by applicable law.

    There can be no assurance that the proposed transaction will in fact be consummated. We caution investors not to unduly rely on any forward-looking statements. The forward-looking statements speak only as of the date of this communication. The Company undertakes no obligation or duty to update or revise any of these forward-looking statements after the date of this communication, whether in response to new information, future events, or otherwise, except as required by applicable law.

    About Adams Resources & Energy, Inc.

    Adams Resources & Energy, Inc. is engaged in crude oil marketing, transportation, terminalling and storage, tank truck transportation of liquid chemicals and dry bulk and recycling and repurposing of off-spec fuels, lubricants, crude oil and other chemicals through its subsidiaries, GulfMark Energy, Inc., Service Transport Company, Victoria Express Pipeline, L.L.C., GulfMark Terminals, LLC, Phoenix Oil, Inc., and Firebird Bulk Carriers, Inc. For more information, visit www.adamsresources.com.

    About Tres Energy LLC

    Tres Energy LLC is a privately held limited liability company that invests in and operates strategic energy assets across the United States. For more information, visit www.tres-energy.com.

    Company Contact

    Tracy E. Ohmart
    EVP, Chief Financial Officer
    tohmart@adamsresources.com
    (713) 881-3609

    The MIL Network

  • MIL-OSI Europe: Written question – Development aid to Pakistan – E-000242/2025

    Source: European Parliament

    Question for written answer  E-000242/2025
    to the Commission
    Rule 144
    Barbara Bonte (PfE)

    The EU provides approximately EUR 100 million a year in development aid to Pakistan. Part of these funds go to education.

    • 1.What control mechanisms does the Commission have in place to ensure that these funds do not serve to strengthen Islamic extremist education in Pakistan?
    • 2.Education across the EU is suffering from a dramatic drop in quality, teacher shortages, and problems directly linked to mass migration. In light of this, what arguments can the Commission put forward to justify funding education in other continents – particularly Islamic education?

    Submitted: 21.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Debates – Wednesday, 29 January 2025 – Brussels – Revised edition

    Source: European Parliament

     

      Corrie Hermann. – Dear President of the European Parliament, dear Roberta Metsola, dear Presidents, dear Members, Commissioners, excellencies, distinguished guests, this story about one Holocaust victim is dedicated to every one of the 6 million victims whom we deplore today.

    My father, Hermann Pál, was born on 27 March 1902 in Budapest, in a well-to-do family. At the time, Budapest was still the second capital of the Habsburg Empire – the era which Stefan Zweig depicts in Die Welt von Gestern. The Jewish citizenry had become gradually an integral part of the community, and joined intensively in the professional, cultural and financial life.

    Hermann Pál was intelligent and musical, and was admitted, at the age of 15, as a cello student at the famous Franz Liszt Academy, established in 1875 – the cradle of many generations of top musicians from Hungary. His best friend became the violinist Székely Zoltán, who would become a worldwide-known soloist and the first violinist of the New Hungarian String Quartet. Pál developed not only as a cellist but also as a composer. His teachers were Kodály and Bartók.

    Even before the formal completion of his training, he reaped his first success in a private concert at the house of Arnold Schönberg with the ‘Sonata for Cello Solo’, which Kodály had composed a few years earlier. A performance of this sonata at a concert in Switzerland, which was organised by the International Society of Contemporary Music, was the first step in his international career.

    But in the meantime, the First World War had raged in Europe. The Habsburg Empire was no more. Hungary’s wings had been clipped by the Trianon Treaty, and the new leader, Admiral Horthy, was the first one to introduce antisemitic laws. The young cellist went to Berlin and changed his name from the Hungarian Hermann Pál to Paul Hermann.

    In Berlin, musical life was blooming. Paul took lessons at the Staatliche Academische Hochschule für Musik. To earn a living, he became a teacher at the progressive Volksmusikschule Berlin-Neukölln and he played in all kinds of ensembles: Baroque music, the great classics – Haydn, Mozart, Beethoven – and contemporary compositions by Hindemith, Ernst Toch and, of course, Kodály and Bartók.

    The tie with Zoltán Székely was to endure all his life. Zoltán had settled in the Netherlands. Together they gave concerts which were favourably reviewed in the Netherlands, Germany and England. In London they stayed often at the house of a Dutch couple, Jacob de Graaff and Louise Bachiene. De Graaff was a wealthy businessman. He and his wife were lovers of art and music, and liked to entertain young artists. They admired the two musicians so much that in 1927 they bought a Stradivarius violin for Zoltán and, in 1928, a Gagliano cello for Paul. That cello has a leading part in this story.

    Louise de Graaff corresponded frequently with relations in the Netherlands, and when Paul Hermann was scheduled to play in Amsterdam, she urged her young niece, Ada Weevers, to go to the concert and meet the artist. This meeting was such a success that they became engaged and married in 1931. They settled in an apartment in a new Berlin quarter, Charlottenburg. I was born in 1932 and there are pictures of my father holding me on the balcony.

    But in 1933 came bad luck. On 30 January, Hitler became Reichskanzler in Germany and a threatening atmosphere for Jewish people becomes immediately acute. Jews are fired from public functions. Paul Hermann loses his job. The little family seeks refuge with Ada’s parents in the Netherlands. In the summer holiday, they stay near the seaside and, when swimming, Ada gets caught in a vortex in the waves and nearly drowns. She inhales water, it leads to pneumonia and she dies a few months later.

    Paul Hermann joins Hungarian colleagues in Brussels. Together they perform as the Gertler Quartet. They tour Belgium, France, Switzerland, Italy, Hungary. He has left me with my maternal grandparents; a younger sister of my mother takes loving care of me. Every time my father visits is delightful. The whole family adores him.

    After a few years in Brussels, Paul Hermann moves to Paris and continues his international career. On 4 August 1939, I turned seven. I remember him coming, always with his cello. Only recently, I found a letter my father wrote to a friend telling me about all the difficulties he had to get permission from the French authorities to cross the border to Holland. Foreign Jews are already under suspicion.

    But I only know it’s my birthday, a party. As a present, my father gives me the new French book, ‘Histoire de Babar, le petit éléphant‘, and he teaches me my first French words: ‘Babar entre dans l’ascenseur, il monte dix fois en haut et descend dix fois en bas mais le garçon lui dit “ce n’est pas un joujou, monsieur l’éléphant”‘.

    But again, the atmosphere is threatening. War breaks out at the end of August. Borders are closing. All foreign visitors return hastily. That winter, Western Europe is mobilised, but the fighting is in the east. We can still correspond. But in the spring, Hitler looks toward France. The French army is preparing the defence. Paul Hermann joins a régiment de marche de volontaires étrangers to assist the French army. In June, the Germans are in Paris. Northern France, Belgium and the Netherlands are occupied and under German rule. As a schoolchild, I remember the little boards everywhere: ‘Verboden voor Joden‘.

    In France, the southern region is at first not occupied. People feel relatively safe there. Hermann and his cello stay first with the de Graaff couple, who have moved from London to the region south of Bordeaux, but then he moves to a room in Toulouse. He has some pupils and can give a few recitals. Censorship makes corresponding very difficult. We get only very few letters.

    Sometimes he can visit Ada’s brother, Jan Weevers, who has an agricultural business in a village about 150 km from Toulouse. This brother-in-law supports him as much as he can. But in 1942, all France is occupied. The terror of the Gestapo reigns also in Toulouse. In Budapest, Berlin, Paris, Paul Hermann has been able to flee from antisemitism. Now this is not possible anymore. He takes false papers, names himself de Cotigny and hopes for the best.

    But on 21 April 1944, he is arrested in a street raid, taken to the Toulouse prison and transported to Drancy, the assembling camp near Paris, from where the transports for the concentration camps departed.

    In May 1944, he is put in a wagon with 60 other men as a part of transport number 73 from Drancy. While the train is waiting at the station, he manages to write a note to his brother-in-law and throws it out of the train. A kind passenger, who probably realises this could be a last message, posts it. Miraculously, it reaches Jan Weevers. It reads:

    «On nous a dit que nous allions travailler à l’Organisation Todt. Nous sommes pleins d’espoir malgré tout. Quant à mes instruments, je te prie de sauver ce que tu peux.»

    There is hardly any transportation, but Jan Weevers manages to go to Toulouse, where Paul’s rooms have been sealed by the Gestapo. Spoils of war. He forces a window and exchanges the precious Gagliano cello for a cheap student’s instrument. He takes it home. Paul’s cello is saved.

    Transport 73 is not put to work for the organisation Todt. It is sent all through Europe to Kaunas in Lithuania. We don’t know what happened, but only a handful of the 900 prisoners who arrived in Kaunas will return after the war.

    In the Netherlands, 1944-1945 is the hardest year of the war. There is no food, no heating. The infrastructure is heavily destructed. In May 1945, the Canadians entered the city where we lived. The Nazi regime capitulates, and it is immense joy.

    Only weeks later, we hear what has happened in France. Investigations by Jan Weevers have been in vain. Will Paul Hermann return? In Tony Judt’s standard book Postwar, we read about the chaos in Middle Europe: many millions of displaced persons roam in deplorable conditions through what is left of Germany. Some returned home after months or years. Many don’t. Gradually we realise Paul will never come back.

    Surrounded by a beloved extended family, I grow up, go to the university to study medicine, marry, have a family. As a doctor, I work mainly in public health. And at the end of my career, I am elected in the Netherlands Parliament for the Green Party. After retirement, I am reminded of a pile of handwritten music scores which have been laying around for more than 60 years. They are old compositions of my father. He played music with his colleagues in all kinds of combinations.

    The Dutch foundation Forbidden Music Regained, which focuses on the work of composers who were persecuted by the Nazis, is interested. They are greatly impressed by the quality of the music, and organise concerts and recordings. My son Paul, named after his grandfather, develops into the coordinator of this legacy and makes it accessible to musicians all over the world.

    When he’s visiting cousins in Los Angeles, they introduce him to the Recovered Voices project of the Los Angeles Colburn School of Music, which is also aimed at persecuted composers. Top cellist Clive Greensmith is enthusiastic about Hermann’s music, especially about a draft for a piece for cello and orchestra. Paul has a friend, an Italian composer, Fabio Conti, who makes the draft into a complete piece for cello and orchestra using themes from other Hermann compositions. Greensmith plays the premiere in 2018, in Lviv, Ukraine.

    But another staff member in Los Angeles, Carla Shapreau, says: ‘Yes, this is the music. But where is that Gagliano cello?’ In 1953, Jan Weevers took the cello to the Netherlands. It has been sold to finance my studies, but we don’t know who bought it.

    Carla enlists the help of Oxford-based biography writer Kate Kennedy, who is working on a book about the duality of cellists and their cellos. Kate also gets under the spell of the Hermann story, and she looks for the cello literally all over the world – asking cellists, luthiers, instrument dealers, music schools, browsing through auction catalogues. Who knows the whereabouts of a Gagliano cello made in 1730 with the text ‘Ego sum anima musicae’ – I am the soul of music – on the side? But Kate does not find it. The publication date of her book nears; she feels defeated.

    The book Cello is published. Cellists everywhere read it. And then Kate gets a mail from a Chinese cello professor, Jian Wang, acting as jury member for the Concours Reine Elisabeth here in Brussels in 2022. He has noticed a cello. It is in the possession of the Robert Schumann Musik Hochschule in Düsseldorf, and only their best students are permitted to play it. At a presentation of Kate’s book Cello in the Wigmore Hall in London, where my father performed 100 years ago, Australian Sam Lucas plays, on Paul Hermann’s cello, one of his compositions.

    Between 1920 and 1940, Paul Hermann played the same cello in all Western and Central Europe. Searching for this icon of European culture has connected people from all over the world: from Europe to Los Angeles to China to Australia. And its amazing story has captured interest everywhere.

    For me, this is a reunion in spirit with the father whom I have missed for 85 years.

    Hitler has burned books, destroyed paintings and buildings, murdered millions of people. But music is invincible.

    Ego sum anima musicae. Freude, schöner Götterfunken. Alle Menschen werden Brüder.

     

    MIL OSI Europe News

  • MIL-OSI: Penns Woods Bancorp, Inc. Reports Fourth Quarter 2024 Earnings

    Source: GlobeNewswire (MIL-OSI)

    WILLIAMSPORT, Pa., Jan. 29, 2025 (GLOBE NEWSWIRE) — Penns Woods Bancorp, Inc. (NASDAQ: PWOD)

    Penns Woods Bancorp, Inc. achieved net income of $17.7 million for the twelve months ended December 31, 2024, resulting in basic and diluted earnings per share of $2.35.

    Highlights

    • Net income, as reported under generally accepted accounting principles (GAAP), for the three and twelve months ended December 31, 2024 was $3.7 million and $17.7 million, respectively, compared to $5.6 million and $16.6 million for the same periods of 2023. Results for the three and twelve months ended December 31, 2024 compared to 2023 were impacted by an increase in net interest income of $1.6 million and $3.9 million, respectively, as the cost of funds stabilized. The three and twelve month periods ended December 31, 2024 have been impacted by after-tax merger related expenses of $581,000 resulting from the announced acquisition of the company by Northwest Bancshares, Inc. The disposal of assets related to two former branch properties resulted in a one time after-tax loss of $261,000 for the twelve month period ended December 31, 2024.
    • The allowance for credit losses was impacted for the three and twelve months ended December 31, 2024 by a provision for credit losses of $420,000 and $121,000, respectively, compared to a negative provision for credit losses of $1.7 million and $1.5 million for the 2023 periods. The recognition of a negative provision for credit losses for the 2023 periods was due primarily to a recovery on a commercial loan which positively affected the historical loss rates, and the payoff of a nonperforming commercial loan.
    • Basic and diluted earnings per share for the three months ended December 31, 2024 were $0.50 and $0.49, respectively, while the twelve months ended December 31, 2024 basic and diluted was $2.35. This compares to basic and diluted earnings per share of $0.77 and $2.34, respectively, for the three and twelve month periods ended December 31, 2023.
    • Annualized return on average assets was 0.67% for the three months ended December 31, 2024, compared to 1.02% for the corresponding period of 2023. Return on average assets was 0.80% for the twelve months ended December 31, 2024, compared to 0.79% for the corresponding period of 2023.
    • Annualized return on average equity was 7.28% for the three months ended December 31, 2024, compared to 12.60% for the corresponding period of 2023. Return on average equity was 9.14% for the twelve months ended December 31, 2024, compared to 9.84% for the corresponding period of 2023.

    Net Income

    Net income from core operations (“core earnings”), which is a non-GAAP measure of net income excluding net securities gains or losses, was $4.4 million and $18.4 million, respectively, for the three and twelve months ended December 31, 2024 compared to $5.6 million and $16.7 million for the same periods of 2023. Core earnings per share (non-GAAP) for the three months ended December 31, 2024 were basic $0.58 and diluted $0.57 while basic and diluted for the twelve months ended December 31, 2024 were $2.44. Basic and diluted core earnings per share for the three and twelve month periods of 2023 were $0.77 and $2.36, respectively. Annualized core return on average assets and core return on average equity (non-GAAP) were 0.78% and 8.48%, respectively, for the three months ended December 31, 2024, compared to 1.02% and 12.63% for the corresponding period of 2023. Annualized core return on average assets and core return on average equity (non-GAAP) were 0.83% and 9.46%, respectively, for the twelve months ended December 31, 2024, compared to 0.79% and 9.93% for the corresponding period of 2023. A reconciliation of the non-GAAP financial measures of core earnings, core return on assets, core return on equity, core earnings per share and tangible book value per share to the comparable GAAP financial measures is included at the end of this press release.

    Net Interest Margin

    The net interest margin for the three and twelve months ended December 31, 2024 was 2.98% and 2.83% respectively, compared to 2.73% and 2.80% for the corresponding periods of 2023. The increase in the net interest margin for the three month period was driven by an increase in the rate collected on interest-earning assets of 34 basis points (“bps”), while the decrease in the net interest margin for the twelve month period was driven by a 74 bps increase in the rate paid on interest-bearing liabilities. The overall increase in interest rates over the periods resulted in increases to both the yield on the earnings asset portfolio and the rate paid on interest-bearing liabilities. Driving the increase in the yield and interest income on the earning assets portfolio was the repricing of legacy assets coupled with portfolio growth. The average loan portfolio balance increased $47.4 million and $106.9 million, respectively, for the three and twelve month periods ended December 31, 2024 compared to the same periods of 2023 as the average yield on the portfolio increased 31 bps and 61 bps, resulting in an increase in taxable equivalent interest income of $2.0 million and $16.5 million, for the periods. The three and twelve month periods ended December 31, 2024 were impacted by an increase of 57 bps and 66 bps in the yield earned on the securities portfolio as legacy securities matured with the funds reinvested at higher rates, which resulted in an increase in taxable equivalent interest income of $285,000 and $1.5 million, respectively. Short-term borrowings decreased leading to a decrease of $1.8 million and $3.9 million, respectively, in expense for the three and twelve month periods ended December 31, 2024 compared to the same periods of 2023. The rate paid on interest-bearing deposits increased 37 bps and 96 bps, respectively, or $2.1 million and $13.8 million in expense, for the three and twelve month periods ended December 31, 2024 compared to the corresponding periods of 2023 due to the rate environment, an increase in competition for deposits, and a migration of deposit balances from core deposits to higher rate time deposits. The rates paid on time deposits significantly contributed to the increase in funding costs as rates paid for the three and twelve month periods ended December 31, 2024 compared to the same periods of 2023 increased 29 bps and 87 bps, respectively, or $1.7 million and $9.9 million in expense, as deposit gathering campaigns continued to focus on time deposits with a maturity of five to twenty-four months. In addition, brokered deposits have been utilized to assist with funding the loan portfolio growth and contributed to the increase in time deposit funding costs, while lowering the reliance on higher cost short-term borrowings.

    Assets

    Total assets increased to $2.2 billion at December 31, 2024, an increase of $27.5 million compared to December 31, 2023.  Net loans increased $36.9 million to $1.9 billion at December 31, 2024 compared to December 31, 2023, as continued emphasis was placed on commercial loan growth and indirect auto lending. The investment portfolio decreased $10.7 million from December 31, 2023 to December 31, 2024.

    Non-performing Loans

    The ratio of non-performing loans to total loans ratio increased to 0.47% at December 31, 2024 from 0.17% at December 31, 2023, as non-performing loans increased to $8.9 million at December 31, 2024 from $3.1 million at December 31, 2023. The majority of non-performing loans involve loans that are either in a secured position and have sureties with a strong underlying financial position or have been classified as individually evaluated loans that have a specific allocation recorded within the allowance for credit losses. Net loan charge offs of $228,000 and $540,000 for the three and twelve months ended December 31, 2024, respectively, impacted the allowance for credit losses, which was 0.63% of total loans at December 31, 2024 compared to 0.62% at December 31, 2023. Exposure to non-owner occupied office space is minimal at $14.1 million at December 31, 2024 with none of these loans being delinquent.

    Deposits

    Deposits increased $116.6 million to $1.7 billion at December 31, 2024 compared to December 31, 2023. Noninterest-bearing deposits decreased $14.2 million to $456.9 million at December 31, 2024 compared to December 31, 2023.  Core deposits declined $17.8 million as deposits migrated from core deposit accounts into time deposits as market rates and competition for deposits increased. Core deposit gathering efforts remained focused on increasing the utilization of electronic (internet and mobile) deposit banking by our customers. Core deposits have remained stable at $1.2 billion over the past five quarters. Interest-bearing deposits increased $130.8 million from December 31, 2023 to December 31, 2024 due to growth in the time deposit portfolio of $80.8 million as customers sought a higher rate of interest. Brokered deposit balances increased $53.6 million to $178.3 million at December 31, 2024 as this funding source was utilized to supplement funding loan portfolio growth, while reducing the need to draw upon available borrowing lines. A campaign to attract time deposits with a maturity of five to twenty-four months commenced during the latter part of 2022 and has continued throughout 2023 and 2024 with current efforts centered on five months.

    Shareholders’ Equity

    Shareholders’ equity increased $13.7 million to $205.2 million at December 31, 2024 compared to December 31, 2023.  During the three and twelve months ended December 31, 2024 there were no shares issued under the previously disclosed registered at-the-market offering. A total 31,066 shares for net proceeds of $632,000 were issued as part of the Dividend Reinvestment Plan during the twelve months ended December 31, 2024. Accumulated other comprehensive loss of $5.3 million at December 31, 2024 decreased from a loss of $9.2 million at December 31, 2023 as a result of a decrease in net unrealized loss on available for sale securities to $4.6 million at December 31, 2024 from a net unrealized loss of $6.4 million at December 31, 2023, coupled with a decrease in loss of $2.0 million in the defined benefit plan obligation. The current level of shareholders’ equity equates to a book value per share of $27.16 at December 31, 2024 compared to $25.51 at December 31, 2023, and an equity to asset ratio of 9.19% at December 31, 2024 and 8.69% at December 31, 2023. Tangible book value per share (a non-GAAP measure) increased to $24.97 at December 31, 2024 compared to $23.29 at December 31, 2023. Dividends declared for the three and twelve months ended December 31, 2024 and 2023 were $0.32 and $1.28 per share.

    Penns Woods Bancorp, Inc. is the parent company of Jersey Shore State Bank, which operates sixteen branch offices providing financial services in Lycoming, Clinton, Centre, Montour, Union, and Blair Counties, and Luzerne Bank, which operates eight branch offices providing financial services in Luzerne County, and United Insurance Solutions, LLC, which offers insurance products.  Investment and insurance products are offered through Jersey Shore State Bank’s subsidiary, The M Group, Inc. D/B/A The Comprehensive Financial Group.

    NOTE:  This press release contains financial information determined by methods other than in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”).  Management uses the non-GAAP measure of net income from core operations in its analysis of the company’s performance. This measure, as used by the Company, adjusts net income determined in accordance with GAAP to exclude the effects of special items, including significant gains or losses that are unusual in nature such as net securities gains and losses. Because these certain items and their impact on the Company’s performance are difficult to predict, management believes presentation of financial measures excluding the impact of such items provides useful supplemental information in evaluating the operating results of the Company’s core businesses. These disclosures should not be viewed as a substitute for net income determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP performance measures that may be presented by other companies.

    This press release may contain certain “forward-looking statements” including statements concerning plans, objectives, future events or performance and assumptions and other statements, which are statements other than statements of historical fact.  The Company cautions readers that the following important factors, among others, may have affected and could in the future affect actual results and could cause actual results for subsequent periods to differ materially from those expressed in any forward-looking statement made by or on behalf of the Company herein: (i) the effect of changes in laws and regulations, including federal and state banking laws and regulations, and the associated costs of compliance with such laws and regulations either currently or in the future as applicable; (ii) the effect of changes in accounting policies and practices, as may be adopted by the regulatory agencies as well as by the Financial Accounting Standards Board, or of changes in the Company’s organization, compensation and benefit plans; (iii) the effect on the Company’s competitive position within its market area of the increasing consolidation within the banking and financial services industries, including the increased competition from larger regional and out-of-state banking organizations as well as non-bank providers of various financial services; (iv) the effect of changes in interest rates; (v) the effects of health emergencies, including the spread of infectious diseases or pandemics; (vi) the effect of changes in the business cycle and downturns in the local, regional or national economies; or (vii) any potential adverse events or developments resulting from the merger agreement, dated December 16, 2024, between Penns Woods Bancorp, Inc. and Northwest Bancshares, Inc., including, without limitation, any event, change, or other circumstances that could give rise to the right of one or both of the parties to terminate the merger agreement or the possibility that the parties may be unable to achieve expected synergies and operating efficiencies in the merger within the expected timeframes or to successfully integrate the business and operations of Jersey Shore State Bank and Luzerne Bank with those of Northwest Savings Bank after closing.  For a list of other factors which could affect the Company’s results, see the Company’s filings with the Securities and Exchange Commission, including “Item 1A.  Risk Factors,” set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2023.

    You should not place undue reliance on any forward-looking statements.  These statements speak only as of the date of this press release, even if subsequently made available by the Company on its website or otherwise.  The Company undertakes no obligation to update or revise these statements to reflect events or circumstances occurring after the date of this press release.

    Previous press releases and additional information can be obtained from the Company’s website at www.pwod.com.

    Contact: Richard A. Grafmyre, Chief Executive Officer
      110 Reynolds Street
      Williamsport, PA 17702
      570-322-1111 e-mail: pwod@pwod.com
     
    PENNS WOODS BANCORP, INC.
    CONSOLIDATED BALANCE SHEET
    (UNAUDITED)
     
        December 31,
    (In Thousands, Except Share and Per Share Data)     2024       2023     % Change
    ASSETS:                
    Noninterest-bearing cash           $         19,989     $         28,969             (31.00 ) %
    Interest-bearing balances in other financial institutions                     8,983               8,493             5.77   %
    Total cash and cash equivalents                     28,972               37,462             (22.66 ) %
                     
    Investment debt securities, available for sale, at fair value                     184,542               190,945             (3.35 ) %
    Investment equity securities, at fair value                     1,111               1,122             (0.98 ) %
    Restricted investment in bank stock                     20,032               24,323             (17.64 ) %
    Loans held for sale                     3,266               3,993             (18.21 ) %
    Loans                     1,877,078               1,839,764             2.03   %
    Allowance for credit losses                     (11,848 )             (11,446 )           3.51   %
    Loans, net                     1,865,230               1,828,318             2.02   %
    Premises and equipment, net                     27,789               30,250             (8.14 ) %
    Accrued interest receivable                     11,114               11,044             0.63   %
    Bank-owned life insurance                     45,681               33,867             34.88   %
    Investment in limited partnerships                     6,691               7,815             (14.38 ) %
    Goodwill                     16,450               16,450             —   %
    Intangibles                     107               210             (49.05 ) %
    Operating lease right of use asset             2,811               2,512             11.90   %
    Deferred tax asset                     3,493               4,655             (24.96 ) %
    Other assets                     15,049               11,843             27.07   %
    TOTAL ASSETS           $         2,232,338     $         2,204,809             1.25   %
                     
    LIABILITIES:                
    Interest-bearing deposits           $         1,249,145     $         1,118,320             11.70   %
    Noninterest-bearing deposits                     456,936               471,173             (3.02 ) %
    Total deposits                     1,706,081               1,589,493             7.33   %
                    %
    Short-term borrowings                     42,200               145,926             (71.08 ) %
    Long-term borrowings                     254,588               252,598             0.79   %
    Accrued interest payable                     4,664               3,814             22.29   %
    Operating lease liability                     2,889               2,570             12.41   %
    Other liabilities                     16,685               18,852             (11.49 ) %
    TOTAL LIABILITIES                     2,027,107               2,013,253             0.69   %
                     
    SHAREHOLDERS’ EQUITY:                
    Preferred stock, no par value, 3,000,000 shares authorized; no shares issued                     —               —     n/a
    Common stock, par value $5.55, 22,500,000 shares authorized; 8,066,968 and 8,019,219 shares issued; 7,556,743 and 7,508,994 shares outstanding                     44,815               44,550             0.59   %
    Additional paid-in capital                     63,193               61,733             2.37   %
    Retained earnings                     115,331               107,238             7.55   %
    Accumulated other comprehensive loss:                
    Net unrealized loss on available for sale securities                     (4,567 )             (6,396 )           28.60   %
    Defined benefit plan                     (726 )             (2,754 )           73.64   %
    Treasury stock at cost, 510,225 shares                     (12,815 )             (12,815 )           —   %
    TOTAL SHAREHOLDERS’ EQUITY                     205,231               191,556             7.14   %
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY           $         2,232,338     $         2,204,809             1.25   %
     
    PENNS WOODS BANCORP, INC.
    CONSOLIDATED STATEMENT OF INCOME
    (UNAUDITED)
     
        Three Months Ended December 31,   Twelve Months Ended December 31,
    (In Thousands, Except Share and Per Share Data)     2024       2023     % Change
        2024       2023     % Change
    INTEREST AND DIVIDEND INCOME:                                
    Loans including fees           $         25,759     $         23,720             8.60   %   $         99,780     $         83,291             19.80   %
    Investment securities:                                
    Taxable                     1,826               1,476             23.71   %             7,039               5,346             31.67   %
    Tax-exempt                     59               107             (44.86 ) %             292               517             (43.52 ) %
    Dividend and other interest income                     607               614             (1.14 ) %             2,587               2,441             5.98   %
    TOTAL INTEREST AND DIVIDEND INCOME                     28,251               25,917             9.01   %             109,698               91,595             19.76   %
                                     
    INTEREST EXPENSE:                                
    Deposits                     9,523               7,445             27.91   %             35,962               22,131             62.50   %
    Short-term borrowings                     479               2,317             (79.33 ) %             4,503               8,401             (46.40 ) %
    Long-term borrowings                     2,686               2,207             21.70   %             10,353               6,099             69.75   %
    TOTAL INTEREST EXPENSE                     12,688               11,969             6.01   %             50,818               36,631             38.73   %
                                     
    NET INTEREST INCOME                     15,563               13,948             11.58   %             58,880               54,964             7.12   %
                                     
    PROVISION (RECOVERY) FOR CREDIT LOSSES                      420               (1,742 )           124.11   %             121               (1,479 )           108.18   %
                                     
    NET INTEREST INCOME AFTER PROVISION (RECOVERY) OF CREDIT LOSSES                     15,143               15,690             (3.49 ) %             58,759               56,443             4.10   %
                                     
    NON-INTEREST INCOME:                                
    Service charges                     516               533             (3.19 ) %             2,067               2,090             (1.10 ) %
    Net debt securities losses, available for sale                     (9 )             (68 )           86.76   %             (49 )             (193 )           74.61   %
    Net equity securities (losses) gains                     (35 )             50             (170.00 ) %             (11 )             15             (173.33 ) %
    Bank-owned life insurance                     303               171             77.19   %             1,159               1,063             9.03   %
    Gain on sale of loans                     463               314             47.45   % .           1,484               1,046             41.87   %
    Insurance commissions                     128               113             13.27   %             553               529             4.54   %
    Brokerage commissions                     163               127             28.35   %             684               575             18.96   %
    Loan broker income                     543               264             105.68   %             1,384               992             39.52   %
    Debit card income                     385               333             15.62   %             1,437               1,328             8.21   %
    Other                     253               384             (34.11 ) %             910               930             (2.15 ) %
    TOTAL NON-INTEREST INCOME                     2,710               2,221             22.02   %             9,618               8,375             14.84   %
                                     
    NON-INTEREST EXPENSE:                                
    Salaries and employee benefits                     7,032               6,284             11.90   %             26,256               25,062             4.76   %
    Occupancy                     758               746             1.61   %             3,152               3,168             (0.51 ) %
    Furniture and equipment                     1,233               889             38.70   %             3,669               3,392             8.17   %
    Software amortization                     339               250             35.60   %             996               843             18.15   %
    Pennsylvania shares tax                     351               275             27.64   %             1,373               1,082             26.89   %
    Professional fees                     523               640             (18.28 ) %             2,177               2,953             (26.28 ) %
    Federal Deposit Insurance Corporation deposit insurance                     385               456             (15.57 ) %             1,564               1,578             (0.89 ) %
    Marketing                     74               90             (17.78 ) %             283               684             (58.63 ) %
    Intangible amortization                     25               25             —   %             102               117             (12.82 ) %
    Merger expense                     735               —     n/a             735               —     n/a
    Other                     1,525               1,342             13.64   %             6,177               5,617             9.97   %
    TOTAL NON-INTEREST EXPENSE                     12,980               10,997             18.03   %             46,484               44,496             4.47   %
    INCOME BEFORE INCOME TAX PROVISION                     4,873               6,914             (29.52 ) %             21,893               20,322             7.73   %
    INCOME TAX PROVISION                     1,132               1,359             (16.70 ) %             4,154               3,714             11.85   %
    NET INCOME AVAILABLE TO COMMON SHAREHOLDERS’   $         3,741     $         5,555             (32.66 ) %   $         17,739     $         16,608             6.81   %
    EARNINGS PER SHARE – BASIC            $         0.50     $         0.77             (35.06 ) %   $         2.35     $         2.34             0.43   %
    EARNINGS PER SHARE – DILUTED           $         0.49     $         0.77             (36.36 ) %   $         2.35     $         2.34             0.43   %
    WEIGHTED AVERAGE SHARES OUTSTANDING – BASIC                     7,555,168               7,255,222             4.13   %             7,535,397               7,112,450             5.95   %
    WEIGHTED AVERAGE SHARES OUTSTANDING – DILUTED                     7,693,185               7,255,222             6.04   %             7,543,111               7,112,450             6.06   %
     
    PENNS WOODS BANCORP, INC.
    AVERAGE BALANCES AND INTEREST RATES 
    (UNAUDITED)
     
        Three Months Ended
        December 31, 2024   December 31, 2023
    (Dollars in Thousands)   Average 
    Balance (1)
      Interest   Average 
    Rate
      Average 
    Balance (1)
      Interest   Average 
    Rate
    ASSETS:                        
    Tax-exempt loans (3)           $         69,967     $         453             2.58   %   $         68,234     $         478             2.78   %
    All other loans                     1,806,212               25,401             5.59   %             1,760,509               23,342             5.26   %
    Total loans (2)                     1,876,179               25,854             5.48   %             1,828,743               23,820             5.17   %
                             
    Taxable securities                     199,868               2,277             4.63   %             193,744               1,932             4.04   %
    Tax-exempt securities (3)                     11,317               75             2.70   %             18,041               135             3.03   %
    Total securities                     211,185               2,352             4.53   %             211,785               2,067             3.96   %
                             
    Interest-bearing balances in other financial institutions                     13,136               156             4.72   %             11,795               158             5.31   %
                             
    Total interest-earning assets                     2,100,500               28,362             5.38   %             2,052,323               26,045             5.04   %
                             
    Other assets                     137,840                       130,421          
                             
    TOTAL ASSETS           $         2,238,340             $         2,182,744          
                             
    LIABILITIES AND SHAREHOLDERS’ EQUITY:                        
    Savings           $         209,300               266             0.51   %   $         222,740               229             0.41   %
    Super Now deposits                     220,792               1,070             1.93   %             227,113               1,129             1.97   %
    Money market deposits                     323,181               2,656             3.27   %             293,542               2,217             3.00   %
    Time deposits                     504,683               5,531             4.36   %             377,516               3,870             4.07   %
    Total interest-bearing deposits                     1,257,956               9,523             3.01   %             1,120,911               7,445             2.64   %
                             
    Short-term borrowings                     38,495               479             4.96   %             163,088               2,317             5.63   %
    Long-term borrowings                     256,521               2,686             4.17   %             235,998               2,207             3.71   %
    Total borrowings                     295,016               3,165             4.27   %             399,086               4,524             4.50   %
                             
    Total interest-bearing liabilities                     1,552,972               12,688             3.25   %             1,519,997               11,969             3.12   %
                             
    Demand deposits                     454,612                       457,546          
    Other liabilities                     25,218                       28,786          
    Shareholders’ equity                     205,538                       176,415          
                             
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY           $         2,238,340             $         2,182,744          
    Interest rate spread (3)                           2.13   %                   1.92   %
    Net interest income/margin (3)               $         15,674             2.98   %       $         14,076             2.73   %
    1. Information on this table has been calculated using average daily balance sheets to obtain average balances.
    2. Non-accrual loans have been included with loans for the purpose of analyzing net interest earnings.
    3. Income and rates on fully taxable equivalent basis include an adjustment for the difference between annual income from tax-exempt obligations and the taxable equivalent of such income at the standard tax rate of 21%.
       
        Three Months Ended December 31,
          2024       2023  
    Total interest income           $         28,251     $         25,917  
    Total interest expense                     12,688               11,969  
    Net interest income (GAAP)                     15,563               13,948  
    Tax equivalent adjustment                     111               128  
    Net interest income (fully taxable equivalent) (non-GAAP)           $         15,674     $         14,076  
     
    PENNS WOODS BANCORP, INC.
    AVERAGE BALANCES AND INTEREST RATES 
    (UNAUDITED)
     
        Twelve Months Ended
        December 31, 2024   December 31, 2023
    (Dollars in Thousands)   Average 
    Balance (1)
      Interest   Average 
    Rate
      Average 
    Balance (1)
      Interest   Average 
    Rate
    ASSETS:                        
    Tax-exempt loans (3)           $         69,448     $         1,943             2.80   %   $         66,863     $         1,849             2.77   %
    All other loans                     1,796,096               98,245             5.47   %             1,691,742               81,830             4.84   %
    Total loans (2)                     1,865,544               100,188             5.37   %             1,758,605               83,679             4.76   %
                             
    Taxable securities                     202,934               9,072             4.47   %             189,804               7,263             3.83   %
    Tax-exempt securities (3)                     13,045               370             2.84   %             23,872               654             2.74   %
    Total securities                     215,979               9,442             4.37   %             213,676               7,917             3.71   %
                             
    Interest-bearing balances in other financial institutions                     11,074               554             5.00   %             10,916               524             4.80   %
                             
    Total interest-earning assets                     2,092,597               110,184             5.27   %             1,983,197               92,120             4.65   %
                             
    Other assets                     132,720                       131,704          
                             
    TOTAL ASSETS           $         2,225,317             $         2,114,901          
                             
    LIABILITIES AND SHAREHOLDERS’ EQUITY:                        
    Savings           $         215,107               1,077             0.50   %   $         231,000               685             0.30   %
    Super Now deposits                     218,932               4,373             2.00   %             276,868               4,155             1.50   %
    Money market deposits                     311,836               10,390             3.33   %             292,755               7,024             2.40   %
    Time deposits                     460,869               20,122             4.37   %             293,252               10,267             3.50   %
    Total interest-bearing deposits                     1,206,744               35,962             2.98   %             1,093,875               22,131             2.02   %
                             
    Short-term borrowings                     82,046               4,503             5.49   %             157,140               8,401             5.36   %
    Long-term borrowings                     256,850               10,353             4.03   %             186,094               6,099             3.28   %
    Total borrowings                     338,896               14,856             4.40   %             343,234               14,500             4.23   %
                             
    Total interest-bearing liabilities                     1,545,640               50,818             3.29   %             1,437,109               36,631             2.55   %
                             
    Demand deposits                     454,878                       477,828          
    Other liabilities                     30,680                       31,243          
    Shareholders’ equity                     194,119                       168,721          
                             
    TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY           $         2,225,317             $         2,114,901          
    Interest rate spread (3)                           1.98   %                   2.10   %
    Net interest income/margin (3)               $         59,366             2.83   %       $         55,489             2.80   %
    1. Information on this table has been calculated using average daily balance sheets to obtain average balances.
    2. Non-accrual loans have been included with loans for the purpose of analyzing net interest earnings.
    3. Income and rates on fully taxable equivalent basis include an adjustment for the difference between annual income from tax-exempt obligations and the taxable equivalent of such income at the standard tax rate of 21%.
       
        Twelve months ended December 31,
          2024       2023  
    Total interest income           $         109,698     $         91,595  
    Total interest expense                     50,818               36,631  
    Net interest income (GAAP)                     58,880               54,964  
    Tax equivalent adjustment                     486               525  
    Net interest income (fully taxable equivalent) (non-GAAP)           $         59,366     $         55,489  
    (Dollars in Thousands, Except Per Share Data, Unaudited)   Quarter Ended
        12/31/2024   9/30/2024   6/30/2024   3/31/2024   12/31/2023
    Operating Data                    
    Net income           $         3,741       $         4,801       $         5,390       $         3,808       $         5,555    
    Net interest income                     15,563                 15,056                 14,515                 13,746                 13,948    
    Provision (recovery) for credit losses                     420                 740                 (1,177 )               138                 (1,742 )  
    Net security (losses) gains                     (44 )               36                 (19 )               (33 )               (18 )  
    Non-interest income, excluding net security (losses) gains                     2,754                 2,385                 2,044                 2,495                 2,239    
    Non-interest expense                     12,980                 10,884                 10,996                 11,623                 10,997    
                         
    Performance Statistics                    
    Net interest margin                     2.98   %             2.88   %             2.83   %             2.69   %             2.73   %
    Annualized cost of total deposits                     2.22   %             2.27   %             2.14   %             2.01   %             1.89   %
    Annualized non-interest income to average assets                     0.48   %             0.43   %             0.37   %             0.45   %             0.41   %
    Annualized non-interest expense to average assets                     2.32   %             1.95   %             1.98   %             2.10   %             2.02   %
    Annualized return on average assets                     0.67   %             0.86   %             0.97   %             0.69   %             1.02   %
    Annualized return on average equity                     7.28   %             9.60   %             11.12   %             8.03   %             12.60   %
    Annualized net loan charge-offs (recoveries) to average loans     0.05   %     0.07   %     (0.09 ) %     0.08   %     (0.05 ) %
    Net charge-offs (recoveries)                      228                 328                 (396 )               380                 (209 )  
    Efficiency ratio                     70.73   %             62.26   %             66.25   %             71.41   %             67.78   %
                         
    Per Share Data                    
    Basic earnings per share           $         0.50       $         0.64       $         0.72       $         0.51       $         0.77    
    Diluted earnings per share                     0.49                 0.64                 0.72                 0.51                 0.77    
    Dividend declared per share                     0.32                 0.32                 0.32                 0.32                 0.32    
    Book value                     27.16                 26.96                 26.13                 25.72                 25.51    
    Tangible book value (Non-GAAP)                     24.97                 24.77                 23.93                 23.50                 23.29    
    Common stock price:                    
    High                     34.06                 23.98                 21.08                 22.64                 23.64    
    Low                     23.74                 19.29                 17.17                 18.44                 20.05    
    Close                     30.39                 23.79                 20.55                 19.41                 22.51    
    Weighted average common shares:                    
    Basic                     7,555                 7,544                 7,529                 7,513                 7,255    
    Fully Diluted                     7,693                 7,544                 7,529                 7,513                 7,255    
    End-of-period common shares:                    
    Issued                     8,067                 8,065                 8,052                 8,036                 8,019    
    Treasury                     (510 )               (510 )               (510 )               (510 )               (510 )  
    (Dollars in Thousands, Unaudited)   Quarter Ended
        12/31/2024   9/30/2024   6/30/2024   3/31/2024   12/31/2023
    Financial Condition Data:                    
    General                    
    Total assets           $         2,232,338       $         2,259,250       $         2,234,617       $         2,210,116       $         2,204,809    
    Loans, net                     1,865,230                 1,863,586                 1,855,054                 1,843,805                 1,828,318    
    Goodwill                     16,450                 16,450                 16,450                 16,450                 16,450    
    Intangibles                     107                 133                 158                 184                 210    
    Total deposits                     1,706,081                 1,700,321                 1,648,093                 1,618,562                 1,589,493    
    Noninterest-bearing                     456,936                 452,922                 461,092                 471,451                 471,173    
    Savings                     208,340                 211,560                 218,354                 220,932                 219,287    
    NOW                     212,687                 218,279                 209,906                 208,073                 214,888    
    Money Market                     308,977                 321,614                 320,101                 299,916                 299,353    
    Time Deposits                     340,844                 328,294                 310,187                 292,372                 260,067    
    Brokered Deposits                     178,297                 167,652                 128,453                 125,818                 124,725    
    Total interest-bearing deposits                     1,249,145                 1,247,399                 1,187,001                 1,147,111                 1,118,320    
                         
    Core deposits*                     1,186,940                 1,204,375                 1,209,453                 1,200,372                 1,204,701    
    Shareholders’ equity                     205,231                 203,694                 197,087                 193,517                 191,556    
                         
    Asset Quality                    
    Non-performing loans           $         8,904       $         7,940       $         6,784       $         7,958       $         3,148    
    Non-performing loans to total assets                     0.40   %             0.35   %             0.30   %             0.36   %             0.14   %
    Allowance for credit losses on loans                     11,848                 11,588                 11,234                 11,542                 11,446    
    Allowance for credit losses on loans to total loans                     0.63   %             0.62   %             0.60   %             0.62   %             0.62   %
    Allowance for credit losses on loans to non-performing loans                     133.06   %             145.94   %             165.60   %             145.04   %             363.60   %
    Non-performing loans to total loans                     0.47   %             0.42   %             0.36   %             0.43   %             0.17   %
                         
    Capitalization                    
    Shareholders’ equity to total assets                     9.19   %             9.02   %             8.82   %             8.76   %             8.69   %
                                                       
    * Core deposits are defined as total deposits less time deposits and brokered deposits.
     
    Reconciliation of GAAP and Non-GAAP Financial Measures
    (UNAUDITED)
     
        Three Months Ended December 31,   Twelve Months Ended December 31,
    (Dollars in Thousands, Except Per Share Data, Unaudited)    2024    2023    2024    2023
    GAAP net income           $         3,741       $         5,555       $         17,739       $         16,608    
    Net securities losses, net of tax                     35                 14                 47                 141    
    Merger expenses, net of tax                     581                 —                 581                 —    
    Non-GAAP core earnings           $         4,357       $         5,569       $         18,367       $         16,749    
                     
        Three Months Ended December 31,   Twelve Months Ended December 31,
         2024    2023    2024    2023
    Return on average assets (ROA)                     0.67   %             1.02   %             0.80   %             0.79   %
    Net securities losses, net of tax                     0.01   %             —   %             —   %             —   %
    Merger expenses, net of tax                     0.10   %             —   %             0.03   %             —   %
    Non-GAAP core ROA                     0.78   %             1.02   %             0.83   %             0.79   %
                     
        Three Months Ended December 31,   Twelve Months Ended December 31,
         2024    2023    2024    2023
    Return on average equity (ROE)                     7.28   %             12.60   %             9.14   %             9.84   %
    Net securities losses, net of tax                     0.07   %             0.03   %             0.02   %             0.09   %
    Merger expenses, net of tax                     1.13   %             —   %             0.30   %             —   %
    Non-GAAP core ROE                     8.48   %             12.63   %             9.46   %             9.93   %
                     
        Three Months Ended December 31,   Twelve Months Ended December 31,
         2024    2023    2024    2023
    Basic earnings per share (EPS)           $         0.50       $         0.77       $         2.35       $         2.34    
    Net securities losses, net of tax                     —                 —                 0.01                 0.02    
    Merger expenses, net of tax                     0.08                 —                 0.08                 —    
    Non-GAAP basic core EPS           $         0.58       $         0.77       $         2.44       $         2.36    
             
        Three Months Ended December 31,   Twelve Months Ended December 31,
         2024    2023    2024    2023
    Diluted EPS           $         0.49       $         0.77       $         2.35       $         2.34    
    Net securities losses, net of tax                     —                 —                 0.01                 0.02    
    Merger expenses, net of tax                     0.08                 —                 0.08                 —    
    Non-GAAP diluted core EPS           $         0.57       $         0.77       $         2.44       $         2.36    
    (Dollars in Thousands, Except Share and Per Share Data, Unaudited)   Quarter Ended
        12/31/2024   9/30/2024   6/30/2024   3/31/2024   12/31/2023
    Total shareholders’ equity           $         205,231     $         203,694     $         197,087     $         193,517     $         191,556  
    Goodwill                     (16,450 )             (16,450 )             (16,450 )             (16,450 )             (16,450 )
    Intangibles                     (107 )             (133 )             (158 )             (184 )             (210 )
    Tangible shareholders’ equity           $         188,674     $         187,111     $         180,479     $         176,883     $         174,896  
                         
    Shares outstanding                     7,556,743               7,554,488               7,541,474               7,525,372               7,508,994  
                         
    Book value per share           $         27.16     $         26.96     $         26.13     $         25.72     $         25.51  
    Tangible book value per share (Non-GAAP)           $         24.97     $         24.77     $         23.93     $         23.50     $         23.29  
                                             

    The MIL Network

  • MIL-OSI Europe: Written question – Need to strengthen the resilience of electric vehicle batteries and charging infrastructure in EU tourist destinations – E-000007/2025

    Source: European Parliament

    Question for written answer  E-000007/2025/rev.1
    to the Commission
    Rule 144
    Elena Kountoura (The Left)

    Recent incidents reported in European winter destinations with increased tourist traffic, where electric vehicles have been immobilised due to low temperatures and lack of sufficient (fast) charge points, highlight major challenges relating to the infrastructure for and resilience of electric vehicles in extreme weather conditions.

    The Batteries Regulation[1] introduces measures that promote the sustainability, durability and efficiency of batteries through strict performance and environmental durability standards. However, performance issues at low temperatures remain a major challenge which requires additional action by the EU[2]. The AFIR[3] Regulation sets mandatory national targets for Member States to develop electric vehicle charging infrastructure to support the transition to zero-emission mobility. However, the AFIR Regulation does not contain any specific provisions directly concerning tourist destinations[4].

    Addressing these issues is crucial for promoting e-mobility and achieving the EU’s environmental targets, while ensuring smooth and safe mobility for citizens.

    In view of this:

    • 1.Are there any plans to promote further research and development to improve the durability of electric vehicle batteries in extreme weather conditions, making full use of the Batteries Regulation and strengthening its implementation?
    • 2.What specific actions does the Commission intend to take within its powers to accelerate the development of charging infrastructure at tourist destinations, where increased traffic makes the availability of charging stations crucial to the success of the green transition?

    Submitted: 3.1.2025

    • [1] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1542.
    • [2] The autonomy of an electric vehicle can be reduced by 10 % at temperatures just below 0° C, and by up to 40 % at very low temperatures, below ‑10° C.
    • [3] https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32023R1804
    • [4] The EU has set targets for the development of alternative fuels infrastructure. However, although the European Union’s regulation on the deployment of alternative fuels infrastructure (AFIR) does not contain any specific provisions directly concerning tourist destinations, the general obligations imposed on Member States to develop alternative fuel recharging and refuelling infrastructure may also benefit tourist areas.
    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI Europe: Federal Council to stop international adoptions

    Source: Switzerland – Department of Foreign Affairs in English

    In Switzerland, it will no longer be possible to adopt children from abroad in the future. The Federal Council has instructed the Federal Department of Justice and Police (FDJP) to prepare a consultation draft on a ban on international adoptions by the end of 2026 at the latest. An independent group of experts has concluded in its report that even well-crafted adoption laws cannot prevent abuse and that a ban is the best way to adequately protect all those affected, particularly children.

    MIL OSI Europe News

  • MIL-OSI Europe: Written question – Monte dei Paschi di Siena’s buyout bid for Mediobanca – P-000356/2025

    Source: European Parliament

    Priority question for written answer  P-000356/2025
    to the Commission
    Rule 144
    Gaetano Pedulla’ (The Left)

    On 24 January, the bank Monte dei Paschi di Siena (MPS) announced a EUR 13.3 billion buyout bid for Mediobanca. The Italian State, through the Ministry of Economy, still has an 11.7 % share in MPS, despite the obligation to sell the entire stake by 2024 set by the European Commission, which in 2017 authorised the bank’s rescue, waiving State aid rules in doing so.

    Since 2017, MPS has received a total of EUR 7 billion in public funding and has undertaken costly staff redundancy plans – the last of which affected 4 125 employees – again with the financial support of the State.

    It should also be noted that, despite the size of the public share, the government in fact appoints the bank’s top management.

    In view of the above, can the Commission answer the following questions:

    • 1.Does the costly financial transaction announced by MPS – an institution rescued from bankruptcy with public funds – comply with EU rules on State aid (Article 107 TFEU)?
    • 2.Does it comply with the primary objective of maintaining financial stability within the meaning of Article 127(1) TFEU, given that MPS’s current capitalisation is EUR 8.10 billion, while Mediobanca’s is EUR 13.75 billion?
    • 3.Could the Ministry of Economy and Finance be authorised to participate in the announced capital increase of MPS if it were to make such a request?

    Submitted: 27.1.2025

    Last updated: 29 January 2025

    MIL OSI Europe News

  • MIL-OSI United Kingdom: Highland Council appoints Chief Officers

    Source: Scotland – Highland Council

    The Highland Council has appointed Ruth Fry as Chief Officer – Human Resources and Communications and Paul Reid as Chief Officer – Facilities and Fleet Management.

    The appointment of Ruth Fry completes the new senior management structure of the Council’s Corporate service cluster under the leadership of Allan Gunn, Assistant Chief Executive – Corporate.

    Paul Reid joins the Council’s Place service cluster under the leadership of Malcolm MacLeod, Assistant Chief Executive – Place.

    As previously intimated in Highland Council’s budget plan for 2024/25, a new senior management structure is being implemented following approval by the Council on 14 March 2024. It reconfigures the senior management team into two layers, rather than three and brings Highland Council into line with other benchmarked authorities.

    Convener of the Council Cllr Bill Lobban said: “I would like to congratulate Ruth and Paul on their appointments and welcome them to The Highland Council. They bring with them a wealth of experience and leadership to the Council.”

    Leader of the Council, Cllr Raymond Bremner added: “With these latest appointments I am pleased to see the Council’s senior management structure progressing with continued pace. The new structure is forecasted to initially deliver savings of £370,000 as part of the budget savings agreed by Council in February 2024, and it is anticipated that savings will eventually equate to around 20% of senior management team costs as part of a more streamlined management structure.”

    Ruth Fry is currently NHS Highland’s Head of Communications and Engagement, with extensive public sector experience and is expected to start with Highland Council on 28 April 2025. Ruth has previously worked for Edinburgh, Clackmannanshire and Perth and Kinross councils in communications and performance roles. For the past four years she has lived and worked in the Highlands, leading staff and public communications and engagement for NHS Highland.

    Paul Reid is currently employed by NHS Greater Glasgow and Clyde as Head of Transport and Travel and has been there since 2017. Prior to his current role he worked with Aberdeen City Council and private sector organisations including Stagecoach in Fleet Compliance and Management.  Paul has an MSC in Logistics and Supply Chain Management and has extensive experience in ensuring efficient and safe operations.   Paul is expected to start with Highland Council in early May and is looking forward to relocating to the Highlands with his family.

    29 Jan 2025

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Lochaber Area Place Plan approved

    Source: Scotland – Highland Council

    A robust yet dynamic Lochaber Area Place Plan (APP) was agreed recently (Monday 27 January 2025) which clearly outlines the aspirations expressed by the communities within its boundaries, many of which link across to proposed or potential actions contained as part of FW2040 and wider Highland plans such as the Highland Investment Plan, Highland Local Development Plan, Highland Outcome Improvement Plan and the Strategic Housing Investment Plan.

    The Lochaber APP highlights the need for improved health and wellbeing services and facilities including both care and mental health; suitable and affordable housing; empowering young people and expanding access to diverse and inclusive activities; better provision of public transport and infrastructure; tourism management; fostering economic growth and a strong, skilled workforce.

    Lochaber Area Committee Vice Chair, Cllr John Grafton said: “Area Place Plans (APP) are important for Lochaber as they are community led plans, offering the opportunity to shape the vision, ambition and key priorities for both people and place across Lochaber. They help to target resources, service delivery and with clear area specific plans, assist in attracting investment.

    “The Lochaber APP is a dynamic and fluid plan that will evolve over time, as sub-regional Area Place Plans are still to be added, whilst Action Plans for some priorities are already being developed. Ensuring a clear vision is captured that reflect the community aspirations for their area.”

    The Plans will help The Highland Council, partners, and communities to leverage funding by evidencing the impact of every pound spent and the actions associated will provide clarity and manage expectation around how and where resources are prioritised. They will also provide a stronger framework for communities to prepare plans for their own community, empowering them to drive and deliver change.

    Community engagement will build a shared understanding of how ‘Place’ underpins development, service delivery and how organisations and communities work together. These plans will be a future guide to get the best impact for people living in an area, based on a shared understanding of local need.

    The Area Place Plan is available here (Item 4).

    MIL OSI United Kingdom

  • MIL-OSI United Kingdom: Works started on Whin Park Play area

    Source: Scotland – Highland Council

    Works have commenced on the exciting changes taking place at Whin Park in Inverness. 

    Leader of Inverness and Area, Cllr Ian Brown said: “I am very pleased to announce that works have started on the installation of new play equipment at the flagship Whin Park play area in Inverness.” 

    Chair of Communities and Place Committee Cllr Graham MacKenzie added: “Play Works Ltd, the contractor for Jupiter Play and Leisure Ltd are now on site to install the exciting new range of play equipment.”

    Highland Council and Jupiter Play and Leisure Ltd have released artists impressions of what the new play equipment will look like, including a Loch Ness Monster, a wheelchair accessible Legend Seeker Playship, an adventure mound with tube slide and much more.

    Whin Park image 2

    Weather dependant, the target is to have the works completed for Easter 2025. The park will remain open during the works, but the main play area and a section of the car park in front of the shop will be closed to allow the works to progress. This also includes the main entrance ramped area to the park. The path network from the Ness Islands and the path at the side of the public toilets will also remain open enabling the public to view the works’ progress during this exciting period for this landmark location. 

    Michael Hoenigmann, Managing Director of Jupiter Play & Leisure said: “We are delighted to have been chosen to design and build the new play area at Whin Park. This is an ambitious project which will be inclusive for all abilities while offering high play value and challenge. It’s unique features including the Nessie Structure with Interactive Sona Arch will be hugely popular with families that visit the site. We look forward to working closely with the team at Highland Council to deliver this prestigious project.” 

    Funding for the contract has been awarded by the Scottish Government Play Area Fund (£234,988) which was allocated to the redevelopment of the park by Members of the Inverness, Central, Ness-side, Millburn, and Inverness West Wards.  In 2023, Inverness City Committee Members agreed £150,000 Inverness Common Good Funding; and in 2024 a further £100,000 from the Community Regeneration Fund towards the park development costs. 

    Watch the video of before and during the current works.

    Further updates on the works’ progress will be promoted by the Council. 

    Whin Park image 3

    Whin Park image 4

    Whin Park image 5

    MIL OSI United Kingdom

  • MIL-OSI United Nations: Four years after the coup, Myanmar remains on the brink

    Source: United Nations 4

    By Vibhu Mishra

    Peace and Security

    Four years after the military coup which plunged Myanmar into turmoil, the country is facing an unprecedented “polycrisis,” marked by economic collapse, intensifying conflict, complex climate hazards and deepening poverty, according to a new report by the UN Development Programme (UNDP).

    Myanmar’s Enduring Polycrisis: Four Years into a Tumultuous Journey, launched on Wednesday, points to the bleak picture of a nation in freefall, with nearly half the population living below the poverty line, essential services crumbling and the economy in disarray.

    With no political resolution in sight, the crisis is expected to worsen in the coming year.

    The coming year will test Myanmar’s resilience to its limits,” the report warns, calling for urgent international engagement to mitigate further suffering and prevent total collapse.

    “A more stable and peaceful Myanmar that thrives on a legal economy, protects it human and natural resource assets and invests in the safety and prosperity of all its people is also in the self-interest of its neighbours and the international community writ large,” it added.

    Source: UNDP

    Myanmar’s economy has sharply declined since 2021.

    Black market boom

    Since 2020, Myanmar’s gross domestic product (GDP) has contracted by nine per cent, reversing the economic progress of the previous decade.

    Inflation reached 25.4 per cent reached in 2024, further eroding household purchasing power. The trade deficit ballooned to 2.2 per cent of GDP, exacerbated by severe restrictions on cross-border commerce, and the currency plummeted over 1,330 kyat per US dollar in 2021 to 4,520 in 2025, making imports unaffordable and sending prices soaring.

    The economic situation worsened further as the country was blacklisted by the Financial Action Task Force (FATF) for failing to combat money laundering and terrorist financing.

    Against this backdrop, Myanmar’s illicit economy is thriving and it has become the world’s leading producer of opium and heroin, and one of the largest manufacturers of methamphetamines.

    The jade industry, valued at billions of dollars annually, remains largely unregulated, fuelling corruption and environmental degradation. Illegal gambling, human trafficking, and scam operations have flourished along the country’s porous borders.

    Society in crisis

    Myanmar’s ongoing conflict has displaced more than 3.5 million people within the country and driven many more across its borders. Internally displaced persons (IDPs) lack vital assistance and protections, and host communities are reeling under the strained resources.

    Hunger is reaching catastrophic levels and agricultural productivity has declined by 16 per cent since 2021, largely due to conflict and climate-related disasters.

    Fertilizer shortages, skyrocketing fuel prices, and trade disruptions have driven the price of the staple rice up by 47 per cent in some regions. The western state of Rakhine is particularly vulnerable, with food production projected to meet only 20 per cent of local needs by mid-2025, raising fears of famine-like conditions.

    Public services are also severely affected, with over half of the country lacking access to electricity and hospitals out of service in conflict zones.

    Looming brain drain

    The dire economic and security situation has led to an exodus of Myanmar’s youth, with 3.7 million having migrated to Thailand by 2023. Many face exploitation and forced labour due to restrictive legal migration pathways, while those who remain are at risk of forced conscription into the military.

    School enrolment rates have also dropped significantly as access to educational facilities has been disrupted by conflict and economic hardships. In the 2023/2024 academic year, over 20 per cent of children were not attending school.

    Crisis or opportunity?

    The outlook for Myanmar remains precarious. If current trends continue, poverty will rise further, migration will intensify and the country’s fragile economy will struggle under the weight of continued conflict and international isolation, the report warns.

    Despite Myanmar’s deepening crisis, opportunities for recovery exist.

    The report highlights the resilience of local communities and the potential of civil society organizations in rebuilding social cohesion. Engaging the diaspora through education and skills development could help retain and attract talent, while expanding opportunities for women in business and employment could boost household incomes.

    Agricultural revitalisation, through climate-resilient crops and irrigation, is crucial for food security, while investment in environmental protection – such as reforestation and mangrove restoration – could safeguard jobs in the future.

    MIL OSI United Nations News

  • MIL-OSI USA: NEA President Becky Pringle: Trump executive order on gender-affirming care is cruel

    Source: US National Education Union

    By: Miguel A. Gonzalez

    Published: January 29, 2025

    NEA President Becky Pringle issued the following statement in response to the unprecedented and harmful action by the Trump White House.

    “All of our students deserve nothing less than to be their true, authentic selves. By design, Trump’s anti-LGBTQ+ executive order attempts to dehumanize transgender, intersex, and non-binary people. It aims to divide us while endangering the lives of our students and communities. More to the point, by interfering with the medical decisions of parents and doctors, politicians in Washington now are in the driver seat to limit families’ access to the care their children need. It is clear that this administration, through this executive order, believes that some individuals are worth less than others.

    “For the families who are seeking gender-affirming care for their children, this isn’t about politics. Yet, politicians behind Project 2025 are pushing the White House to divide our nation and now they are targeting our most vulnerable among us. This is cruel, plain and simple.

    “We will not fall for their divide-and-conquer tricks. Together, we will support student learning and development by ensuring that students across our great nation—no matter their race, place of birth or gender identity—are respected and kept safe.”

    ###

    The National Education Association is the nation’s largest professional employee organization, representing more than 3 million elementary and secondary teachers, higher education faculty, education support professionals, school administrators, retired educators, students preparing to become teachers, healthcare workers, and public employees. Learn more at www.nea.org

    MIL OSI USA News

  • MIL-OSI USA: Attorney General Alan Wilson stands up for farmers: fights California’s power grab on porkRead More

    Source: US State of South Carolina

    (COLUMBIA, S.C.) – South Carolina Attorney General Alan Wilson announced today that he has joined 22 other state attorneys general in filing a brief urging the U.S. Supreme Court to hear the case Iowa Pork Producers Association v. Bonta. This case challenges California’s Proposition 12, a law that imposes strict animal welfare regulations on pork producers across the country, regardless of the state that they operate in. 

    “California’s Californication of our food supply is out of control—first, they come for pork, next, they’ll have us eating crickets. Proposition 12 is nothing more than a power grab by coastal elites who want to dictate how the rest of America farms, eats, and does business. South Carolina won’t stand by while they force their radical agenda on the entire country.” said Attorney General Wilson. 

    The brief argues that California’s Proposition 12 Law

    • Harms agricultural states and consumers by imposing costly regulations that raise pork prices nationwide. 
    • Encourages economic protectionism by allowing one state to impose its regulatory preferences on others, creating a dangerous precedent that could lead to conflicting state mandates. 
    • Violates the U.S. Constitution, including the Dormant Commerce Clause, Import-Export Clause, and Full Faith and Credit Clause. 
    • Proposition 12 requires that all pork sold in California come from pigs raised under specific housing conditions but also requires these standards for pork produced in other states. Given California’s position as the largest consumer of pork in the nation while producing very little itself, the law effectively forces out-of-state farmers to comply with California’s regulations or be excluded from the market. 

    “The Constitution was designed to prevent exactly this kind of economic balkanization,” Attorney General Wilson said. “If Proposition 12 is allowed to stand, it will set a dangerous precedent where states can impose their own regulatory will on others, leading to chaos in national markets.” 

    The U.S. Supreme Court is being urged to review the Ninth Circuit’s decision, which declined to consider key constitutional issues raised by the petitioners. The coalition of attorneys general argues that the Supreme Court must step in to clarify the limits of state power and uphold the principles of free and fair interstate commerce. 

    You can read the brief here.

    MIL OSI USA News

  • MIL-OSI Security: Hantsport — West Hants RCMP Detachment charges a man involved in break-in

    Source: Royal Canadian Mounted Police

    West Hants RCMP Detachment has charged a man following a break and enter in Windsor.

    On January 4, at approximately 9:15 a.m., RCMP officers responded to a break and enter at a residential construction site on Abbey Rd. Officers learned that a Chevrolet Aveo was seen fleeing the area with stolen tools valued at approximately $5,000.

    Through the investigation, officers linked the Chevrolet to an address on Smith Rd. in Glooscap First Nation and later observed two people leave in the vehicle at a high rate of speed. A traffic stop was attempted, but the driver didn’t pull over. In the interest of public safety, a pursuit was not initiated.

    A short time later, another RCMP officer attempted to stop the Chevrolet as it travelled on Hwy. 1. The vehicle came to a stop on West Brooklyn Rd. before fleeing; the officer didn’t pursue the vehicle.

    Shortly afterwards, the Aveo was located in a ditch along West Brooklyn Mountain Rd. At the scene, RCMP officers followed two sets of footprints leading from the crash site and located and arrested one of the vehicle’s occupants, 26-year-old Morgan Cynthia Hennigar of Halifax. Hennigar has been charged with Obstructing a Peace Officer and Failure to Comply with Order; she’s due in Windsor Provincial Court on May 15.

    From the information gathered, a second person of interest was identified.

    On January 27, RCMP officers safety arrested 27-year-old Michael Jody James Paul at a Hantsport residence. He’s facing the following charges:

    • Break and Enter and Theft
    • Flight from a Peace Officer
    • Dangerous Operation of a Conveyance
    • Operation While Prohibited
    • Failure to Comply with Order (seven counts)

    “After identifying Michael Paul on January 4, we continued our efforts to locate and apprehend him,” says Cpl. Travis MacDonald of the West Hants RCMP Detachment. “On two occasions, his vehicle fled from police in a dangerous manner and officers did not pursue it in the interest of public safety. On January 27, investigators organized an operation involving surveillance and RCMP Police Dog Services, which resulted in Paul being safety arrested.”

    Paul has been remanded into custody and is scheduled to appear in Windsor Provincial Court on January 29.

    The investigation is ongoing.

    MIL Security OSI

  • MIL-OSI Security: Yarmouth — RCMP Southwest Traffic Services arrests two impaired drivers

    Source: Royal Canadian Mounted Police

    RCMP Southwest Traffic Services (SWTS) locates impaired drivers, both on and off duty.

    On January 15, at approximately 2:32 p.m., an RCMP officer from SWTS completed a traffic stop when they observed the driver of a vehicle not wearing their seatbelt. The driver, a 50-year-old Yarmouth woman, exhibited signs of impairment and provided roadside breath samples into an approved screening device (ASD), which resulted in a “fail”. She was arrested and transported to the Yarmouth RCMP detachment, where she provided breath samples that registered 230 mg% and 210 mg%, almost three times the legal limit.

    On January 27, at approximately 4:30 p.m., an off-duty officer from SWTS observed a Ford Ranger in the ditch on Hwy 203 in Carleton, and stopped to render assistance. During his interaction with the officer, the 60-year-old Carleton man exhibited signs of impairment. The driver was detained for impaired operation of a vehicle and on-duty RCMP officers from Yarmouth Rural RCMP attended the scene and took over the investigation. The man was arrested and later provided breath samples that registered 210 mg% and 220 mg%.

    The RCMP is reminding the public that if you suspect an impaired driver, it’s an emergency; call 911.

    Once you call 911, dispatchers will ask for:

    • Your location
    • A description of the vehicle, including the licence plate number, colour, make and model
    • The direction of travel for the vehicle
    • A description of the driver if visible

    File #s: 2025-65233 / 2025-121696

    MIL Security OSI

  • MIL-OSI Security: Tennessee Man Sentenced to 270 Months for Sex Trafficking Conspiracy

    Source: Office of United States Attorneys

    NEW ORLEANSCHARLES CUNIGAN (“CUNIGAN”), a resident of Tennessee, was sentenced on January 14, 2025, for conspiring to commit sex trafficking, in violation of Title 18, United States Code, Section 1594(c).

    According to court documents, CUNIGAN, age 31, and his girlfriend Latesha Gardner, age 31, forced a seventeen-year-old victim to engage in commercial sex acts in New Orleans for three months to generate money so CUNIGAN could purchase a vehicle.  The defendants advertised the minor victim for commercial sex on the internet and used physical abuse and other means to force her to comply.  CUNIGAN carried a firearm and pistol whipped the minor victim on one occasion.  CUNIGAN kept all of the money the minor victim made from commercial sex transactions and required her to meet a minimum daily dollar threshold from these sex acts.  He conditioned the victim’s ability to eat on whether she earned enough money.  CUNIGAN also tracked the geolocation data on the victim’s phone and threatened to kill her if she left.

    U.S. District Court Judge Jay C. Zainey sentenced CUNIGAN to 270 months’ imprisonment, followed by a lifetime of supervised release.  CUNIGAN was ordered to pay $48,750 in restitution to the minor victim and to participate in the sex offender registration and notification program.  In addition, Judge Zainey imposed a $100 mandatory special assessment fee.  In September 2024, CUNIGAN’s co-defendant, Gardner, was sentenced to 60 months imprisonment for her role in this conspiracy.

    This case was brought as part of Project Safe Childhood, a nationwide initiative launched in May 2006 by the Department of Justice to combat the growing epidemic of child sexual exploitation and abuse. Led by the United States Attorneys’ Offices and the Criminal Division’s Child Exploitation and Obscenity Section, Project Safe Childhood marshals federal, state, and local resources to locate, apprehend, and prosecute individuals who sexually exploit children, and to identify and rescue victims.  For more information about Project Safe Childhood, please visit www.usdoj.gov/psc.  For more information about internet safety education, please visit www.usdoj.gov/psc and click on the tab “resources.”

    U.S. Attorney Duane A. Evans and Principal Deputy Assistant Attorney General Brent S. Wible, head of the Justice Department’s Criminal Division, made the announcement.

    The case was investigated by Homeland Security Investigations and the Orlando, Florida Metropolitan Bureau of Investigations. The prosecution of this case is being handled by Assistant United States Attorney Maria M. Carboni and Trial Attorney Melissa E. Bücher of the Criminal Division’s Money Laundering and Asset Recovery Section.

    MIL Security OSI

  • MIL-OSI Economics: Competitive procurement will add 2000+ GWh of wind energy to Nova Scotia’s grid

    Source: – Press Release/Statement:

    Headline: Competitive procurement will add 2000+ GWh of wind energy to Nova Scotia’s grid

    The Canadian Renewable Energy Association congratulates its members and Indigenous partners for their successful bids in the Nova Scotia Green Choice Program procurement,” said CanREA’s Jean Habel. “We are especially pleased that Nova Scotia’s RFP was expanded from 350 MW to 625 MW. Read more.
    The post Competitive procurement will add 2000+ GWh of wind energy to Nova Scotia’s grid appeared first on Canadian Renewable Energy Association.

    MIL OSI Economics

  • MIL-Evening Report: How do workers cope in no-win situations? Midwives found out the hard way during the pandemic

    Source: The Conversation (Au and NZ) – By James Greenslade-Yeats, Research Fellow in Management, Auckland University of Technology

    Eldar Nurkovic/Shutterstock

    During the pandemic, midwives faced what researchers call a “pragmatic paradox” – a situation where contradictory demands are imposed on individuals who can neither refuse nor fulfil the demands.

    Midwives needed to care for women and babies despite the risk of infecting them with the virus. Their experiences shed important light on how we can think about no-win situations in the workplace.

    In our recently published research, we surveyed 215 New Zealand midwives about their experiences of working through COVID lockdowns and how they coped with what felt at times like a no-win situation.

    The absurdity of contradictory demands

    Pragmatic paradoxes place workers in absurd, no-win situations. They can occur simply because of leadership issues or glitches in management bureaucracies. They can also happen during unique crises – such as the pandemic.

    But many workers are so used to feeling powerless that they may not recognise – much less question – the absurdity of contradictory demands.

    This is especially true in situations where workers lack opportunities to discuss or challenge the directives they receive from above.

    When the pandemic struck, midwives’ professional roles suddenly entailed an inherent contradiction they had no opportunity to question.

    They were contractually obligated to protect societal wellbeing by providing ongoing maternity services. Yet due to the fast evolving situation and initial shortages of safety equipment, providing those services entailed risking public wellbeing by exposing themselves and their clients to the virus.

    As one of our research participants explained:

    I felt that I was in a very difficult situation. I was connecting with multiple “bubbles” on a daily basis. I was scared that I could be in a position to pass COVID on to vulnerable people.

    As expected, most midwives in our study felt disempowered by the tensions of this situation:

    I felt extremely vulnerable. As a lead maternity carer midwife, considered an essential service, I had no control over whether I could just not work.

    But surprisingly, a small number of midwives were seemingly motivated by it. As one explained,

    [My family] thought I was “brave” and “courageous” to keep working – but this was simply my job! I felt like I had a duty to pregnant women to front up and continue as per normal.

    During the pandemic, midwives faced a pragmatic paradox – they were expected to enter multiple people’s homes while also preventing the spread of COVID-19.
    metamorworks/Shutterstock

    Recognised and supported?

    Why would some midwives feel motivated by their contractual obligations to fulfil contradictory demands?

    The crux, we found, was not whether they were aware of the contradiction inherent in their situation, but whether that awareness was accompanied by a sense of professional recognition and support.

    If midwives felt like they were recognised and supported in their ongoing efforts – like valuable members in the “team of five million” – they framed and accepted their contradictory situation as part of a societal duty.

    Midwives placed particular importance on recognition and support from the government and the public. As one explained,

    I felt the love. Heading out on the motorway I would see the sign thanking essential workers. And the government was always mentioning us and thanking us.

    In contrast, if they felt like health system leaders and the public were oblivious to their situation, they interpreted contradictory work demands as stressful and disempowering.

    Another midwife said,

    I became very angry and felt midwives were like lambs to the slaughter – we had no PPE, we were being told to carry on working, in the media we were invisible. Our professional body seemed to put the women we cared for ahead of our wellbeing.

    Managing pragmatic paradoxes

    There are two ways to look at the implications of our findings. One is to suggest pragmatic paradoxes are not as bad as they initially seem.

    Contradictions abound in contemporary society, so it may be inevitable people face conflicting yet unrefusable demands in their jobs. But if leaders and managers can motivate workers to embrace those demands – or at least recognise the difficulty of the tasks – the outcome can be positive.

    An alternative reading is workers who feel motivated by pragmatic paradoxes are casualties of something akin to gaslighting. According to this logic, contradictory demands are imposed by those at the top of their respective organisations and societies, so that’s where the demands ought to be dealt with.

    For example, the government could have minimised the risks midwives faced during the pandemic by better access to protective equipment, thereby resolving their contradictory situation. Suggesting contradictory demands should be passed down to lower-level workers is therefore equivalent to accepting a certain level of oppression.

    Whichever interpretation resonates more, our research underscores the importance of communication as a means of ensuring workers are not disempowered by pragmatic paradoxes.

    Over the course of the pandemic, healthcare workers worldwide eventually improved their contradictory situation by posting on social media and talking to the press. Political leaders and health management recognised the workforce needed greater support to navigate the contradictory demands of risking wellbeing to protect wellbeing.

    The broader lesson is when people face contradictory directives, they should be able to discuss and challenge them.

    Research suggests that in interpersonal situations, humour may be an effective means of doing so without directly threatening the power or competence of those in charge.

    Of course, this brings us to one final paradox: that encouraging humour and employee voice requires fostering the type of environment where pragmatic paradoxes are unlikely to thrive in the first place.

    Tago Mharapara receives funding from Auckland University of Technology

    James Greenslade-Yeats does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.

    ref. How do workers cope in no-win situations? Midwives found out the hard way during the pandemic – https://theconversation.com/how-do-workers-cope-in-no-win-situations-midwives-found-out-the-hard-way-during-the-pandemic-247679

    MIL OSI AnalysisEveningReport.nz