NewzIntel.com

    • Checkout Page
    • Contact Us
    • Default Redirect Page
    • Frontpage
    • Home-2
    • Home-3
    • Lost Password
    • Member Login
    • Member LogOut
    • Member TOS Page
    • My Account
    • NewzIntel Alert Control-Panel
    • NewzIntel Latest Reports
    • Post Views Counter
    • Privacy Policy
    • Public Individual Page
    • Register
    • Subscription Plan
    • Thank You Page

Category: France

  • MIL-OSI Global: RNA has newly identified role: Repairing serious DNA damage to maintain the genome

    Source: The Conversation – USA – By Francesca Storici, Professor of Biological Sciences, Georgia Institute of Technology

    Double-strand breaks in DNA can be deadly. Victor Golmer/iStock via Getty Images Plus

    Your DNA is continually damaged by sources both inside and outside your body. One especially severe form of damage called a double-strand break involves the severing of both strands of the DNA double helix.

    Double-strand breaks are among the most difficult forms of DNA damage for cells to repair because they disrupt the continuity of DNA and leave no intact template to base new strands on. If misrepaired, these breaks can lead to other mutations that make the genome unstable and increase the risk of many diseases, including cancer, neurodegeneration and immunodeficiency.

    Cells primarily repair double-strand breaks by either rejoining the broken DNA ends or by using another DNA molecule as a template for repair. However, my team and I discovered that RNA, a type of genetic material best known for its role in making proteins, surprisingly plays a key role in facilitating the repair of these harmful breaks.

    These insights could not only pave the way for new treatment strategies for genetic disorders, cancer and neurodegenerative diseases, but also enhance gene-editing technologies.

    Sealing a knowledge gap in DNA repair

    I have spent the past two decades investigating the relationship between RNA and DNA in order to understand how cells maintain genome integrity and how these mechanisms could be harnessed for genetic engineering.

    A long-standing question in the field has been whether RNA in cells helps keep the genome stable beyond acting as a copy of DNA in the process of making proteins and a regulator of gene expression. Studying how RNA might do this has been especially difficult due to its similarity to DNA and how fast it degrades. It’s also technically challenging to tell whether the RNA is directly working to repair DNA or indirectly regulating the process. Traditional models and tools for studying DNA repair have for the most part focused on proteins and DNA, leaving RNA’s potential contributions largely unexplored.

    RNA plays a key role in protein synthesis.

    My team and I were curious about whether RNA might actively participate in fixing double-strand breaks as a first line of defense. To explore this, we used the gene-editing tool CRISPR-Cas9 to make breaks at specific spots in the DNA of human and yeast cells. We then analyzed how RNA influences various aspects of the repair process, including efficiency and outcomes.

    We found that RNA can actively guide the repair process of double-strand breaks. It does this by binding to broken DNA ends, helping align sequences of DNA on a matching strand that isn’t broken. It can also seal gaps or remove mismatched segments, further influencing whether and how the original sequence is restored.

    Additionally, we found that RNA aids in double-strand break repair in both yeast and human cells, suggesting that its role in DNA repair is evolutionary conserved across species. Notably, even low levels of RNA were sufficient to influence the efficiency and outcome of repair, pointing to its broad and previously unrecognized function in maintaining genome stability.

    RNA in control

    By uncovering RNA’s previously unknown function to repair DNA damage, our findings show how RNA may directly contribute to the stability and evolution of the genome. It’s not merely a passive messenger, but an active participant in genome maintenance.

    One type of RNA that has been effectively used in treatments is mRNA.
    Aldona/iStock via Getty Images Plus

    These insights could help researchers develop new ways to target the genomic instability that underlies many diseases, including cancer and neurodegeneration. Traditionally, treatments and gene-editing tools have focused almost exclusively on DNA or proteins. Our findings suggest that modifying RNA in different ways could also influence how cells respond to DNA damage. For example, researchers could design RNA-based therapies to enhance the repair of harmful breaks that could cause cancer, or selectively disrupt DNA break repair in cancer cells to help kill them.

    In addition, these findings could improve the precision of gene-editing technologies like CRISPR by accounting for interactions between RNA and DNA at the site of the cut. This could reduce off-target effects and increase editing precision, ultimately contributing to the development of safer and more effective gene therapies.

    There are still many unanswered questions about how RNA interacts with DNA in the repair process. The evolutionary role that RNA plays in maintaining genome stability is also unclear. But one thing is certain: RNA is no longer just a messenger, it is a molecule with a direct hand in DNA repair, rewriting what researchers know about how cells safeguard their genetic code.

    Francesca Storici consults at Tessera Therapeutics. She has received funding from the National Institutes of Health and the National Science Foundation.

    – ref. RNA has newly identified role: Repairing serious DNA damage to maintain the genome – https://theconversation.com/rna-has-newly-identified-role-repairing-serious-dna-damage-to-maintain-the-genome-256429

    MIL OSI – Global Reports –

    June 17, 2025
  • MIL-OSI Africa: President El-Sisi Meets Chairman of Arab Organization for Industrialization (AOI) Board of Directors

    Source: Africa Press Organisation – English (2) – Report:

    Download logo

    Today, President Abdel Fattah El-Sisi met with Chairman of the Board of Directors of the Arab Organization for Industrialization (AOI) Major General Mokhtar Abdel Latif.

    Spokesman for the Presidency, Ambassador Mohamed El-Shennawy, said the President was briefed on the activities and projects undertaken by factories and companies affiliated with the Arab Organization for Industrialization across various fields. Major General Abdel Latif noted that the AOI operates according to a comprehensive strategy aimed at deepening local manufacturing, increasing export rates, and enhancing the industrial and technological capabilities of its factories. This is in addition to cooperating with the private sector to establish joint projects, leveraging the AOI’s advanced industrial capabilities.

    President El-Sisi affirmed the AOI’s significant role in various sectors, particularly with regard to the improvement of local manufacturing ratios, the localization of industry, and the increase of exports, which contributes to reducing the import bill and providing foreign currency, thereby supporting the national economy.

    President El-Sisi was also updated on the existing frameworks of cooperation between the AOI and several major international companies operating in the automotive industry. The President inspected a number of “Citroën C4X” models, which are locally manufactured with a 45% component ratio in the factories of the Arab Organization for Industrialization, in partnership with the Arab American Vehicles Company (AAV) and the French “Stellantis” Group.

    AOI Chairman, Major General Abdel Latif,  said planning for the production of this model began in August 2023, adding that technical and logistical preparations were undertaken, leading to the production of initial prototypes in March 2025. He noted that approximately 7,000 cars are scheduled for annual production over four years, totaling 28,000 vehicles. Furthermore, preparations are underway for the production of a new car in cooperation with the “Stellantis” Group, with production set to begin in late 2026. This new model will see a total of 240,000 cars manufactured exclusively in AOI factories, and will not be manufactured in any of the Group’s other global facilities.

    President El-Sisi gave directives to further strengthen cooperation with private sector companies, both locally and internationally. This is in alignment with the state’s strategy aimed at localizing the automotive industry, increasing the percentage of local components, and maximizing exports of products manufactured in Egypt.

    – on behalf of Presidency of the Arab Republic of Egypt.

    MIL OSI Africa –

    June 17, 2025
  • MIL-OSI United Kingdom: Export bar placed on £8 million Rubens work

    Source: United Kingdom – Executive Government & Departments

    Press release

    Export bar placed on £8 million Rubens work

    A temporary export bar has been placed on an oil sketch, titled ​​Cimon Falling in love with Efigenia, by Flemish artist Peter Paul Rubens

    • The work has been valued at £8.4 million 
    • The export bar will allow time for a UK gallery or institution to acquire the oil sketch for the nation

    An export bar has been placed on an oil sketch by Flemish artist, Peter Paul Rubens, which is at risk of leaving the UK.

    Rubens was an exceptionally successful painter and is considered the most influential artist of the Flemish Baroque tradition. Rubens was born in Siegen, Germany in 1577 and is mostly known for his vibrant style emphasising movement, colour, and sensuality. Some of his most famous paintings include The Elevation of the Cross and Judgement of Paris. 

    Cimon Falling in love with Efigenia is a remarkable example of one of Rubens’ authentic oil sketches created entirely by his own hand.

    Oil sketches by Rubens have been eagerly collected in the UK and there is a strong British connection to this piece, as George Villiers, the first Duke of Buckingham (1592–1628), was an admirer of his artistic talent and displayed works by Rubens in his home at York House. This included the finished painting of Cimon and Efigenia for which the current oil sketch is a preparatory work.

    The sketch is a marvellous encapsulation of Rubens’ working methods at a relatively early stage in his career. It would enhance the representation of such works in the UK if saved for the nation by a cultural institution. 

    Arts Minister Sir Chris Bryant said: 

    This work is the perfect example of Rubens’ artistic talent and gives us greater insight into Flemish art during the 17th century. 

    I hope that a UK gallery is able to save  it so that the public can enjoy it for generations to come.

    Mark Hallett, Committee Member said: 

    This is a picture that gives us the opportunity to appreciate a great artist’s creative process in full flow. Produced on panel as the primary sketch for a monumental oil painting that now hangs in the Kunsthistorisches Museum in Vienna, Cimon falling in Love with Efigenia is entirely the product of Rubens’s own hand, rather than one that – as is the case with the final picture – contains the contributions of his studio assistants. In the sketch, we see Rubens exploring the artistic possibilities of an ethically and erotically charged scene from early Renaissance literature, and experimenting with the established pictorial conventions of the female nude. The longer one looks at and thinks about this picture, the more complex and challenging it becomes: the mark of all truly significant works of art. For these reasons, Cimon falling in Love with Efigenia demands to be found a permanent home in the UK, where it can be enjoyed and reflected upon for decades to come.

    The Minister’s decision follows the advice of the Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest (RCEWA).

    The RCEWA made its recommendation on the basis that the painting met the second and third Waverley criteria for its outstanding aesthetic importance and its outstanding significance to the study of Rubens’ preparatory studies and sketches and their influence, as well as the treatment of the female nude in art.

    The decision on the export licence application for the painting will be deferred for a period ending on 15 September 2025 inclusive. At the end of the first deferral period owners will have a consideration period of 15 Business Days to consider any offer(s) to purchase the painting at the recommended price of £8,440,000. The second deferral period will commence following the signing of an Option Agreement and will last for six months.

    Notes to editors:

    1. Organisations or individuals interested in purchasing the painting should contact the RCEWA on 02072680534 or rcewa@artscouncil.org.uk.
    2. Details of the painting are as follows: Peter Paul Rubens (1577–1640) Cimon Falling in love with Efigenia, c. 1616–17. Oil on panel, 29.8 x 43.5 cm. The painting is on a narrow wooden panel with vertical grain. The painting is in generally good condition.
    3. Provenance: Probably the painter and dealer Jeremias Wildens (1621-53), son of Jan Wildens (1586 – 1653) who collaborated with Rubens on the Vienna picture in which he painted the landscape; His estate: inventory drawn up 30 January 1653 and 11 January 1654, no. 528 ‘Eenen Thimon met Naeckte vrouwkens van Rubbens’ (A Thimon [Cimon] with naked women by Rubens); Philippe Panné, Esq., Great George Street, Hanover Square, London (d. 1819); His sale: Christie’s, London, A catalogue of the very capital, valuable and highly important collection of Italian, French, Flemish and Dutch pictures, of the late Ph. Panné, Esq. of Great George Street, Hanover Square, deceased, 27 March 1819 (including 350 lots), lot 17, as ‘Rubens, Cymon and Iphigenia. panel, 12’ x 17’ [sic.] (sold 26-5 pounds); William Noel-Hill, 3rd Baron Berwick (1773-1842); His sale: Christie’s, London, 1 December 1827, lot 73, as ‘Rubens’ School, Cymon and Iphiginia’ (“17 guineas”, “”bought in”); Sir Matthew Wilson,1st Baronet of Eshton Hall (1802-1891), Gargrave, 1877; Private Collection, U.K. by 1886; Private collection, purchase, 2024

    4. The Reviewing Committee on the Export of Works of Art and Objects of Cultural Interest is an independent body, serviced by Arts Council England (ACE), which advises the Secretary of State for Culture, Media and Sport on whether a cultural object, intended for export, is of national importance under specified criteria.

    Share this page

    The following links open in a new tab

    • Share on Facebook (opens in new tab)
    • Share on Twitter (opens in new tab)

    Updates to this page

    Published 16 June 2025

    MIL OSI United Kingdom –

    June 17, 2025
  • MIL-OSI: Applied Materials and CEA-Leti Expand Joint Lab To Drive Innovation in Specialty Chips

    Source: GlobeNewswire (MIL-OSI)

    SANTA CLARA, Calif. and GRENOBLE, France, June 16, 2025 (GLOBE NEWSWIRE) — Applied Materials, Inc. and CEA-Leti today announced the next phase of their longstanding collaboration to accelerate innovation in specialty semiconductors. Under a memorandum of understanding (MOU), the organizations plan to expand their joint lab and develop materials engineering solutions to address emerging infrastructure challenges in AI data centers.

    The joint lab is focused on device innovations for chipmakers serving ICAPS markets (IoT, Communications, Automotive, Power and Sensors). These specialty chips are used in a wide range of applications – from industrial automation to electric vehicles – and they play a critical role managing data and power distribution within data centers. Growing resource demands in AI infrastructure have highlighted the need for a new wave of innovation in ICAPS chips to enable more energy-efficient computing.

    Under the new arrangement, Applied and CEA-Leti plan to expand the lab with new equipment and capabilities that move beyond individual process steps to include full-flow development of specialty devices. Additionally, the lab would be equipped with state-of-the-art advanced packaging tools to support heterogeneous integration of chips across different wafer types and process nodes – enabling entirely new classes of specialty devices for a range of next-generation applications.

    The joint facility features several Applied Materials wafer processing systems together with CEA-Leti’s world-class capabilities for evaluating performance of new materials and device validation. The upgraded lab is expected to strengthen the chipmaking ecosystem in France by further expanding the technology hub in Grenoble, a leading site for collaborative innovation across government, academia and industry. The lab also marks an extension of Applied’s global EPIC Platform, a new high-velocity innovation model designed to accelerate commercialization of new chip technologies. Applied and CEA-Leti will be able to leverage the R&D work taking place across Applied’s global innovation centers to drive progress in specialty semiconductor technologies.

    “Applied Materials and CEA-Leti have a long history of successful collaboration, and we are excited to strengthen our capabilities for accelerating innovation and commercialization of next-generation specialty chips,” said Aninda Moitra, corporate vice president and general manager of Applied Materials’ ICAPS business. “Our combined expertise will help foster breakthroughs and push the boundaries of semiconductor innovation, contributing to sustainable advancements in a range of critical applications for the AI era.”

    Sébastian Dauvé, CEO of CEA-Leti, said the first phase of the expanded collaboration laid important groundwork for addressing materials-engineering challenges of specialty semiconductor devices.

    “Building on this momentum, the joint lab’s new focus on energy-efficient solutions for AI data-center infrastructure reflects our shared commitment to making technological progress that meets both industrial and societal needs. The extended collaboration also leverages our complementary strengths to accelerate innovation at the system level, while supporting sustainable growth in France’s semiconductor ecosystem,” he said.

    About Applied Materials
    Applied Materials, Inc. (Nasdaq: AMAT) is the leader in materials engineering solutions used to produce virtually every new chip and advanced display in the world. Our expertise in modifying materials at atomic levels and on an industrial scale enables customers to transform possibilities into reality. At Applied Materials, our innovations make possible a better future. Learn more at www.appliedmaterials.com.

     About CEA-Leti (France)
    CEA-Leti, a technology research institute at CEA, is a global leader in miniaturization technologies enabling smart, energy-efficient and secure solutions for industry. Founded in 1967, CEA-Leti pioneers micro-& nanotechnologies, tailoring differentiating applicative solutions for global companies, SMEs and startups. CEA-Leti tackles critical challenges in healthcare, energy and digital migration. From sensors to data processing and computing solutions, CEA-Leti’s multidisciplinary teams deliver solid expertise, leveraging world-class pre-industrialization facilities. With a staff of more than 2,000 talents, a portfolio of 3,200 patents, 11,000 sq. meters of cleanroom space and a clear IP policy, the institute is based in Grenoble, France, and has offices in Silicon Valley, Brussels and Tokyo. CEA-Leti has launched 75 startups and is a member of the Carnot Institutes network. Follow us on www.leti-cea.com and @CEA_Leti.

    Technological expertise
    CEA has a key role in transferring scientific knowledge and innovation from research to industry. This high-level technological research is carried out in particular in electronic and integrated systems, from microscale to nanoscale. It has a wide range of industrial applications in the fields of transport, health, safety and telecommunications, contributing to the creation of high-quality and competitive products.

    For more information: www.cea.fr/english 

    Applied Materials Contacts
    Ricky Gradwohl (U.S. editorial/media) +1 408.235.4676
    Audrey Pariente (Europe editorial/media) +49 174 336 57 68
    Liz Morali (financial community) +1 408.986.7977

    CEA-Leti Press Contact
    Agency
    Sarah-Lyle Dampoux
    sldampoux@mahoneylyle.com
    +33 6 74 93 23 47

    The MIL Network –

    June 17, 2025
  • MIL-OSI Russia: This Time Must be Different: Lessons from Sri Lanka’s Recovery and Debt Restructuring

    Source: IMF – News in Russian

    Opening Remarks by the IMF First Deputy Managing Director Gita Gopinath Conference on “Sri Lanka’s Road to Recovery: Debt and Governance” Shangri-La Hotel Colombo

    June 16, 2025

    Excellencies, distinguished guests, colleagues, and friends,

    It is a great honor to join you today for this important conference which takes place at a critical juncture in Sri Lanka’s economic journey.

    This conference comes not only at the mid-point of Sri Lanka’s IMF-supported economic reform program, but also at a moment when the global economy is facing powerful crosscurrents—slowing growth, rising tariffs, and a rapidly changing global economic order alongside profound uncertainty. Countries are being tested by shocks that are more frequent and more complex. The challenge for all of us is to build resilience in a world that demands it.

    Achievements Resulting from Reforms Supported by the IMF-EFF Program

    In this light, Sri Lanka’s experience stands out—both for the severity of the crisis the country experienced three years ago, and the remarkable progress that has been achieved in a very short time. The crisis was precipitated by years of declining tax revenues, depleted foreign exchange reserves and an explosive and unsustainable increase in public debt as growth collapsed. There were long lines for fuel, severe shortages of basic goods, record inflation, and widespread power outages. For many households, daily life became an exercise in hardship.

    Today, thanks to bold reforms and the commitment of the Sri Lankan people, substantial progress has been made to restore macroeconomic stability and reduce hardships faced by people. Fuel, cooking gas, and medicines are available again. Inflation has been brought under control and economic growth has returned—expanding by 5 percent in 2024. On the fiscal front, the government has achieved an extraordinary adjustment and tax revenues have increased by more than two-thirds as a share of GDP.

    The government has also put a strong emphasis on improving governance, which is fundamental for establishing trust with citizens and ensuring sustained growth. Important milestones have been achieved including central bank independence, improving public financial management, and strengthening the legal framework for anti-corruption.  Our analysis shows that comprehensive fiscal governance and accountability reforms in Sri Lanka can boost GDP by more than 7 percent and reduce the debt-to-GDP ratio by more than 6 percentage points over 10 years.

    Sri Lanka also took the difficult but necessary decision to default on its public debt and pursue a sovereign debt restructuring. These decisive actions on debt have helped ease the burden on the country. External creditors have forgiven $3 billion in debt and restructured another $25 billion, extending repayment over two decades at lower interest rates. Sri Lanka’s bonds are once again included in global indices, and its credit rating has improved.

    The experience of Sri Lanka holds important lessons for the world, and I would like to speak to the lessons from its debt restructuring.

    I. The Nexus between Economic Reforms and Debt Restructuring

    Sri Lanka’s debt restructuring had to deal with several challenges:

    1. Calibrating the restructuring targets to deliver sufficient debt relief. This was a complex endeavor. As with all restructurings, debt sustainability needs to be restored through a combination of debt relief and policy adjustments, such as fiscal effort. The targets must be carefully calibrated to consider country specific circumstances. In Sri Lanka’s case, the targets considered the severity of the crisis while also recognizing the country’s high levels of private savings, tourism receipts and remittances. Through this restructuring, over the next decade, external debt service as a share of GDP is reduced by a half, and external and total debt stock will fall by 27 and 34 percentage points of GDP respectively.
    2. Facilitating collaboration in a complex external creditor landscape. A full range of official creditors needed to find ways to coordinate, and not all creditors had the internal processes in place to deliver swiftly. The Official Creditor Committee chaired by France, India and Japan shepherded many creditors together and China informally coordinated with this group. Still there were challenges in the sharing of information across creditor groups and concerns about comparability of treatment across official bilateral creditors. To help move the process along, the IMF staff were very active in providing information and using IMF “good offices” on an ongoing basis to support coordination.
    1. Containing financial and social stability risks from the restructuring. A large share of Sri Lanka’s debt is domestic. The authorities recognized that external debt relief by itself would be unlikely to restore debt sustainability and domestic debt needed to be part of the restructuring effort. This had to be tackled carefully because of the significant exposure of Sri Lanka’s domestic financial sector, the central bank and the public pensions vehicle to government debt. To preserve financial and social stability, the authorities avoided nominal debt reductions and focused on lowering interest rates and lengthening maturities.

    The Sri Lankan debt restructuring experience provides several lessons that will help make the process simpler for other countries that need restructuring in the future. Sri Lanka’s experience better illuminated the trade-offs in setting debt targets and directly led to the development of improved methodologies for evaluating state contingent features in debt contracts. It helped creditors learn how to improve coordination and gave them new instrument designs to contemplate. Together with other recent restructuring cases, it helped motivate important reforms to IMF’s debt policies.

    Over time, there have been other important improvements in the sovereign debt architecture. The IMF, Bank and G20 Presidency convened the Global Sovereign Debt Roundtable to help serve as a forum for creditor dialogue and generate consensus on difficult issues that arise in restructurings. An important recent output of these efforts is a restructuring playbook, published at the time of our Spring Meetings, which lays out the typical steps in a restructuring and an indicative timeline. It is important to recognize that, thanks to these initiatives, experiences, and the G20 Common Framework, the restructuring process has become faster. In the recent case of Ghana’s, it took five months to get from an IMF staff level agreement to delivering the financing assurances required for program approval—roughly half the time it took for Chad in 2021 and Zambia in 2022. Looking ahead, let me assure you that our work on improving the timeliness and effectiveness of the global debt architecture will continue.

    For Sri Lanka, the experience with the debt restructuring drives home the importance of managing the economy such that a similar situation will never arise again.

    II. Important to Stay the Course

    Let us be clear: none of the achievements thus far would have been possible without the courage and sacrifice of the Sri Lankan people. The crisis was costly and painful, particularly for the poor. The reforms undertaken to address the root causes of the crisis—adjustments in taxation, the removal of unsustainable subsidies, efforts to restore cost-reflective energy pricing—have asked a great deal from ordinary citizens. These are difficult measures. They test the social fabric. And yet, they are the foundation of a more resilient future.

    That is why we must now turn our focus from crisis response to sustainable recovery. There is a lot that is still needed. Poverty rates at 24.5 percent in 2024, according to the latest World Bank estimates, are too high and need to be brought down quickly. This requires continued macroeconomic stability and successful implementation of structural reforms. Tackling corruption will require major reforms. Implementing the government’s action plan on governance reforms is critical. While much has been done to reduce external debt, domestic debt is still high and steadfast implementation of sound fiscal policy is critical to continue bringing it down.

    None of this will be easy. In addition to the domestic challenges, the global environment is difficult with tariffs, geopolitical conflict and economic fragmentation posing major risks for small open economies like Sri Lanka’s.

    This is why there is no room for policy errors. As the IMF Managing Director noted during our Spring Meetings in April: the choice facing countries today is between reform and regret. Between building buffers—or risking future crises.

    Sri Lanka’s reform program has delivered strongly. But history reminds us of the risks. Of the 16 IMF programs Sri Lanka has engaged in over the years, about half ended prematurely. Often, reform fatigue sets in. Hard-earned gains were reversed. Growth faltered. The country cannot afford to repeat that cycle.

    Let me therefore underscore how essential it is to sustain the reform momentum, and in a manner that is inclusive and accountable. Public dialogue matters. Transparency matters. Engaging civil society and listening to diverse voices—not just in Colombo, but across the island—will help ensure that policies are responsive and responsible. This conference is exactly the kind of platform that can foster such engagement. It is a space to reflect, to challenge assumptions, and to build consensus. The IMF will remain a steadfast partner as Sri Lanka pursues stable and inclusive growth that improves the lives of all citizens and future generations.

    This time must be different! As President Dissanayake has said, let us ensure this is the last IMF program Sri Lanka will need.

    We agree, and believe this is possible if Sri Lanka stays the course.

    Thank you.

    IMF Communications Department
    MEDIA RELATIONS

    PRESS OFFICER:

    Phone: +1 202 623-7100Email: MEDIA@IMF.org

    @IMFSpokesperson

    https://www.imf.org/en/News/Articles/2025/06/16/sp061625-gg-this-time-must-be-different-lessons-from-sri-lankas-recovery-and-debt-restructuring

    MIL OSI

    MIL OSI Russia News –

    June 17, 2025
  • MIL-OSI Analysis: Trade in a mythical fish is threatening real species of rays that are rare and at risk

    Source: The Conversation – USA – By James Marcus Drymon, Associate Extension Professor in Marine Fisheries Ecology, Mississippi State University

    These ‘pez diablo,’ or devil fish, are actually guitarfishes that have been caught, killed, dried and carved into exotic shapes. Bryan Huerta-Beltrán, CC BY-ND

    From the Loch Ness monster to Bigfoot, also known as Sasquatch, to the jackalope of the U.S. West, mythical animals have long captured human imagination.

    Some people are so fascinated with mythical creatures that they create their own, either working from pure fantasy or by modifying real animals. In a newly published study, we show that in countries such as Mexico, people are catching, drying and shaping guitarfishes – members of the rhino ray family, one of the most threatened groups of marine fishes – to create mythical specimens called “pez diablo,” or devil fish.

    Depending on where these curios are sold, they might also be referred to as Jenny Hanivers, garadiávolos or rayas chupacabras. The origin and meaning of the term “Jenny Haniver” is unclear, but the most accepted explanation is “Jeune d’Anvers,” or “young girl from Antwerp” in French.

    We found that pez diablo are made for many reasons, including as curios for the tourist trade and as purported cures for cancer, arthritis and anemia. Some are simply used for hoaxes. Regardless, the pez diablo trade could threaten the survival of guitarfishes.

    Young guitarfishes on display at the New England Aquarium in Boston.

    Fishy talismans

    Skates and rays, including guitarfishes, are flat-bodied fishes related to sharks and are found worldwide. Together, they make up a group known as elasmobranchs, which are characterized by their unique skeletons made of cartilage rather than bone like most other fishes.

    Skates have long been used to craft mythical creatures. The earliest known examples date back to 1558 in Europe, where they were fashioned to resemble dragons. These objects were thought to offer pathways to the divine or medicinal cures.

    In the mid-20th century, dried guitarfishes emerged as a new generation of mythical creatures. This may be because their unique shape can be fashioned into more humanlike forms. Their long nostrils, which are positioned just above their mouths, can resemble eyes.

    The ‘eyes’ of these dried guitarfishes are actually nostrils on top of the fishes’ long, pointed snouts.
    Bryan Huerta-Beltrán, CC BY-ND

    The first known case of a modified guitarfish was described in 1933. Since then, specimens have made their way into museums, and dozens of North American newspapers have published stories featuring modified guitarfishes.

    A real and endangered fish

    Guitarfishes are one of the most threatened vertebrate groups on the planet: Without careful management, they are at risk of global extinction. As many as two-thirds of all guitarfishes are classified as threatened on the IUCN Red List, a global inventory that assesses extinction risks to wild species.

    Guitarfishes are found in warm temperate and tropical oceans around the world. Fishers target them as an inexpensive source of protein. Guitarfishes may also be caught accidentally or collected live for the aquarium trade.

    Ultimately, however, these species are worth more as pez diablo than for other uses. For example, an entire fresh guitarfish in Mexico is worth approximately US$2, whereas guitarfish that have been killed, dried and carved into pez diablo can be worth anywhere from $50–$500 on eBay and other e-commerce sites.

    Curbing the pez diablo trade

    Internationally, the guitarfish trade is regulated by the Convention on International Trade in Endangered Species of Wild Fauna and Flora, an international agreement between governments. This agreement requires member countries to manage guitarfish trade across international borders.

    Most countries where guitarfishes occur, however, do not have national regulations to protect these species. As a result, people who create or sell pez diablo are likely unaware that these fishes are threatened.

    There are as many as 37 species of guitarfish, some of which are at higher risk of extinction than others. Yet to the untrained eye, it can be hard to distinguish one guitarfish species from another. It’s especially hard to identify dried and mutilated guitarfishes that have been processed into pez diablo and look very different from their natural form.

    An intact guitarfish, left, and a carved, dried version.
    Bryan Huerta-Beltrán, CC BY-ND

    This is a common challenge for agencies that monitor trade in animal products. The global wildlife trade is an enormous market, involving billions of animals moving through both legal and illegal channels. Many wildlife products are heavily altered, which makes it hard to identify the species and determine where the product came from.

    Another source of confusion is that many people in Mexico also refer to an invasive freshwater fish that has overrun lakes and rivers across the nation as pez diablo. This “other” pez diablo is actually a suckermouth catfish and is not at all related to any of the threatened guitarfishes. Local education efforts need to distinguish clearly between these two species, since the desired outcome is to protect guitarfish while removing the invasive catfish.

    A dried and modified guitarfish, left, compared with an invasive suckermouth catfish.
    Bryan Huerta-Beltrán, CC BY-ND

    Guitarfish CSI

    Fortunately, advances in wildlife forensics offer a way to distinguish between species. Molecular techniques have been used to identify many illegally traded species, including guitarfishes. By taking a small skin sample, scientists can use DNA to identify the species of individual pez diablo. This method can help protect endangered species by helping to ensure that laws against wildlife trafficking are followed.

    Refining this kind of molecular tool is the most promising way to improve traceability in the trade of guitarfishes. By documenting where and how pez diablo are traded, scientists and conservationists can help clarify the threats to these species. The pez diablo is an imaginary creature, but it is doing real harm to threatened guitarfishes in the world’s warm oceans.

    Bryan Huerta-Beltran receives funding from Save Our Seas Foundation.

    Nicole Phillips is affiliated with the Sawfish Conservation Society and receives funding from the Save Our Seas Foundation.

    James Marcus Drymon and Peter Kyne do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

    – ref. Trade in a mythical fish is threatening real species of rays that are rare and at risk – https://theconversation.com/trade-in-a-mythical-fish-is-threatening-real-species-of-rays-that-are-rare-and-at-risk-247433

    MIL OSI Analysis –

    June 17, 2025
  • MIL-OSI: Enphase Energy Rolls Out IQ Battery 5P with FlexPhase, Delivering Three-Phase Backup Across More European Countries

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., June 16, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, today announced the launch of its most powerful and versatile battery yet, the IQ® Battery 5P™ with FlexPhase, for customers in Spain, Portugal, France, Sweden, Denmark, Belgium, and the Netherlands. The IQ Battery 5P with FlexPhase is an all-in-one AC-coupled system that delivers reliable backup power and supports both single-phase and three-phase applications, providing unmatched flexibility to meet diverse home energy needs. Enphase also launched the IQ Battery 5P with FlexPhase in Poland, Luxembourg, Germany, Austria, and Switzerland earlier this year.

    The IQ Battery 5P with FlexPhase starts at 5 kWh of capacity and can be configured up to 70 kWh. Each 5 kWh battery delivers continuous power of up to 3.84 kW in single-phase configuration and 1.28 kW per phase in three-phase configuration. The new battery can be configured to meet the needs of each homeowner, offering grid-tied support or backup power. It is designed to discharge up to two times the maximum continuous power for three seconds, enabling the operation of high-power devices during a grid outage when paired with the IQ® System Controller 3 INT. The IQ Battery 5P with FlexPhase comes with an industry-leading 15-year warranty in Spain, Portugal, France, Sweden, Denmark, Belgium, and the Netherlands.

    “Following recent blackouts in Spain, the need for reliable home energy solutions has never been higher,” said Miguel Rico Benitez, CEO at HogarSolar, a Platinum level installer of Enphase products in Spain. “There’s a growing urgency for reliable home energy solutions – and the IQ Battery 5P with FlexPhase offers the performance and resilience households need now more than ever.”

    “The IQ Battery 5P with FlexPhase is a major step forward for energy storage in France,” said Thomas Poncet, owner of IdeeSys, an installer of Enphase products in France. “With powerful backup capabilities, scalable capacity, and long-term reliability, it’s exactly the kind of smart, future-ready technology our customers are looking for.”

    “Belgian homeowners are increasingly looking for smart, future-ready energy systems that can adapt to their unique needs,” said Kristof Lassaut, CEO of K.L. Green Energy, an installer of Enphase products in Belgium. “The IQ Battery 5P with FlexPhase delivers outstanding flexibility, whether it’s single-phase or three-phase, and brings the kind of long-term reliability our customers trust. And now, with the IQ System Controller available, homeowners can also get reliable backup power for added peace of mind.”

    “Adaptability is everything for Dutch homeowners when it comes to home energy, and the IQ Battery 5P with FlexPhase delivers just that,” said Paul Cortvriend, owner of Savo Solar Systemen, an installer of Enphase products in the Netherlands. “We love that the battery accommodates both single-phase and three-phase systems, letting us customize the perfect backup solution for each home. Enphase continues to lead the industry with innovations like this.”

    “The IQ Battery 5P with FlexPhase was engineered to meet the growing demand for resilient, scalable home energy solutions across Europe,” said Sabbas Daniel, senior vice president of sales at Enphase Energy. “We’re excited to continue expanding access to our most powerful battery yet – bringing reliable, high-performance storage to more homeowners and helping accelerate Europe’s transition to a cleaner, more resilient energy future.”

    For more information about the IQ Battery 5P with FlexPhase, please visit the Enphase website for Spain, Portugal, France, Sweden, Denmark, Belgium (French and Dutch), and the Netherlands.

    About Enphase Energy, Inc.

    Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power — and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 81.5 million microinverters, and approximately 4.8 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://investor.enphase.com.

    ©2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

    Forward-Looking Statements

    This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality, and reliability. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Quarterly Report on Form 10-Q, Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

    Contact:

    Enphase Energy

    press@enphaseenergy.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

    June 17, 2025
  • MIL-OSI: Enphase Energy Rolls Out IQ Battery 5P with FlexPhase, Delivering Three-Phase Backup Across More European Countries

    Source: GlobeNewswire (MIL-OSI)

    FREMONT, Calif., June 16, 2025 (GLOBE NEWSWIRE) — Enphase Energy, Inc. (NASDAQ: ENPH), a global energy technology company and the world’s leading supplier of microinverter-based solar and battery systems, today announced the launch of its most powerful and versatile battery yet, the IQ® Battery 5P™ with FlexPhase, for customers in Spain, Portugal, France, Sweden, Denmark, Belgium, and the Netherlands. The IQ Battery 5P with FlexPhase is an all-in-one AC-coupled system that delivers reliable backup power and supports both single-phase and three-phase applications, providing unmatched flexibility to meet diverse home energy needs. Enphase also launched the IQ Battery 5P with FlexPhase in Poland, Luxembourg, Germany, Austria, and Switzerland earlier this year.

    The IQ Battery 5P with FlexPhase starts at 5 kWh of capacity and can be configured up to 70 kWh. Each 5 kWh battery delivers continuous power of up to 3.84 kW in single-phase configuration and 1.28 kW per phase in three-phase configuration. The new battery can be configured to meet the needs of each homeowner, offering grid-tied support or backup power. It is designed to discharge up to two times the maximum continuous power for three seconds, enabling the operation of high-power devices during a grid outage when paired with the IQ® System Controller 3 INT. The IQ Battery 5P with FlexPhase comes with an industry-leading 15-year warranty in Spain, Portugal, France, Sweden, Denmark, Belgium, and the Netherlands.

    “Following recent blackouts in Spain, the need for reliable home energy solutions has never been higher,” said Miguel Rico Benitez, CEO at HogarSolar, a Platinum level installer of Enphase products in Spain. “There’s a growing urgency for reliable home energy solutions – and the IQ Battery 5P with FlexPhase offers the performance and resilience households need now more than ever.”

    “The IQ Battery 5P with FlexPhase is a major step forward for energy storage in France,” said Thomas Poncet, owner of IdeeSys, an installer of Enphase products in France. “With powerful backup capabilities, scalable capacity, and long-term reliability, it’s exactly the kind of smart, future-ready technology our customers are looking for.”

    “Belgian homeowners are increasingly looking for smart, future-ready energy systems that can adapt to their unique needs,” said Kristof Lassaut, CEO of K.L. Green Energy, an installer of Enphase products in Belgium. “The IQ Battery 5P with FlexPhase delivers outstanding flexibility, whether it’s single-phase or three-phase, and brings the kind of long-term reliability our customers trust. And now, with the IQ System Controller available, homeowners can also get reliable backup power for added peace of mind.”

    “Adaptability is everything for Dutch homeowners when it comes to home energy, and the IQ Battery 5P with FlexPhase delivers just that,” said Paul Cortvriend, owner of Savo Solar Systemen, an installer of Enphase products in the Netherlands. “We love that the battery accommodates both single-phase and three-phase systems, letting us customize the perfect backup solution for each home. Enphase continues to lead the industry with innovations like this.”

    “The IQ Battery 5P with FlexPhase was engineered to meet the growing demand for resilient, scalable home energy solutions across Europe,” said Sabbas Daniel, senior vice president of sales at Enphase Energy. “We’re excited to continue expanding access to our most powerful battery yet – bringing reliable, high-performance storage to more homeowners and helping accelerate Europe’s transition to a cleaner, more resilient energy future.”

    For more information about the IQ Battery 5P with FlexPhase, please visit the Enphase website for Spain, Portugal, France, Sweden, Denmark, Belgium (French and Dutch), and the Netherlands.

    About Enphase Energy, Inc.

    Enphase Energy, a global energy technology company based in Fremont, CA, is the world’s leading supplier of microinverter-based solar and battery systems that enable people to harness the sun to make, use, save, and sell their own power — and control it all with a smart mobile app. The company revolutionized the solar industry with its microinverter-based technology and builds all-in-one solar, battery, and software solutions. Enphase has shipped approximately 81.5 million microinverters, and approximately 4.8 million Enphase-based systems have been deployed in over 160 countries. For more information, visit https://investor.enphase.com.

    ©2025 Enphase Energy, Inc. All rights reserved. Enphase Energy, Enphase, the “e” logo, IQ, IQ8, and certain other marks listed at https://enphase.com/trademark-usage-guidelines are trademarks or service marks of Enphase Energy, Inc. Other names are for informational purposes and may be trademarks of their respective owners.

    Forward-Looking Statements

    This press release may contain forward-looking statements, including statements related to the expected capabilities and performance of Enphase Energy’s technology and products, including safety, quality, and reliability. These forward-looking statements are based on Enphase Energy’s current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those contemplated by these forward-looking statements as a result of such risks and uncertainties including those risks described in more detail in Enphase Energy’s most recently filed Quarterly Report on Form 10-Q, Annual Report on Form 10-K, and other documents filed by Enphase Energy from time to time with the SEC. Enphase Energy undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations, except as required by law.

    Contact:

    Enphase Energy

    press@enphaseenergy.com

    This press release was published by a CLEAR® Verified individual.

    The MIL Network –

    June 17, 2025
  • MIL-Evening Report: ‘Be brave’ warning to nations against deepsea mining from UNOC

    By Laura Bergamo in Nice, France

    The UN Ocean Conference (UNOC) concluded today with significant progress made towards the ratification of the High Seas Treaty and a strong statement on a new plastics treaty signed by 95 governments.

    Once ratified, it will be the only legal tool that can create protected areas in international waters, making it fundamental to protecting 30 percent of the world’s oceans by 2030.

    Fifty countries, plus the European Union, have now ratified the Treaty.

    New Zealand has signed but is yet to ratify.

    Deep sea mining rose up the agenda in the conference debates, demonstrating the urgency of opposing this industry.

    The expectation from civil society and a large group of states, including both co-hosts of UNOC, was that governments would make progress towards stopping deep sea mining in Nice.

    UN Secretary-General Guterres said the deep sea should not become the “wild west“.

    Four new pledges
    French President Emmanuel Macron said a deep sea mining moratorium is an international necessity. Four new countries pledged their support for a moratorium at UNOC, bringing the total to 37.

    Attention now turns to what actions governments will take in July to stop this industry from starting.

    Megan Randles, Greenpeace head of delegation regarding the High Seas Treaty and progress towards stopping deep sea mining, said: “High Seas Treaty ratification is within touching distance, but the progress made here in Nice feels hollow as this UN Ocean Conference ends without more tangible commitments to stopping deep sea mining.

    “We’ve heard lots of fine words here in Nice, but these need to turn into tangible action.

    “Countries must be brave, stand up for global cooperation and make history by stopping deep sea mining this year.

    “They can do this by committing to a moratorium on deep sea mining at next month’s International Seabed Authority meeting.

    “We applaud those who have already taken a stand, and urge all others to be on the right side of history by stopping deep sea mining.”

    Attention on ISA meeting
    Following this UNOC, attention now turns to the International Seabed Authority (ISA) meetings in July. In the face of The Metals Company teaming up with US President Donald Trump to mine the global oceans, the upcoming ISA provides a space where governments can come together to defend the deep ocean by adopting a moratorium to stop this destructive industry.

    Negotiations on a Global Plastics Treaty resume in August.

    John Hocevar, oceans campaign director, Greenpeace USA said: “The majority of countries have spoken when they signed on to the Nice Call for an Ambitious Plastics Treaty that they want an agreement that will reduce plastic production. Now, as we end the UN Ocean Conference and head on to the Global Plastics Treaty negotiations in Geneva this August, they must act.

    “The world cannot afford a weak treaty dictated by oil-soaked obstructionists.

    “The ambitious majority must rise to this moment, firmly hold the line and ensure that we will have a Global Plastic Treaty that cuts plastic production, protects human health, and delivers justice for Indigenous Peoples and communities on the frontlines.

    “Governments need to show that multilateralism still works for people and the planet, not the profits of a greedy few.”

    Driving ecological collapse
    Nichanan Thantanwit, project leader, Ocean Justice Project, said: “Coastal and Indigenous communities, including small-scale fishers, have protected the ocean for generations. Now they are being pushed aside by industries driving ecological collapse and human rights violations.

    “As the UN Ocean Conference ends, governments must recognise small-scale fishers and Indigenous Peoples as rights-holders, secure their access and role in marine governance, and stop destructive practices such as bottom trawling and harmful aquaculture.

    “There is no ocean protection without the people who have protected it all along.”

    The anticipated Nice Ocean Action Plan, which consists of a political declaration and a series of voluntary commitments, will be announced later today at the end of the conference.

    None will be legally binding, so governments need to act strongly during the next ISA meeting in July and at plastic treaty negotiations in August.

    Republished from Greenpeace Aotearoa with permission.

    Article by AsiaPacificReport.nz

    MIL OSI Analysis – EveningReport.nz –

    June 17, 2025
  • MIL-Evening Report: ‘Be brave’ warning to nations against deepsea mining from UNOC

    By Laura Bergamo in Nice, France

    The UN Ocean Conference (UNOC) concluded today with significant progress made towards the ratification of the High Seas Treaty and a strong statement on a new plastics treaty signed by 95 governments.

    Once ratified, it will be the only legal tool that can create protected areas in international waters, making it fundamental to protecting 30 percent of the world’s oceans by 2030.

    Fifty countries, plus the European Union, have now ratified the Treaty.

    New Zealand has signed but is yet to ratify.

    Deep sea mining rose up the agenda in the conference debates, demonstrating the urgency of opposing this industry.

    The expectation from civil society and a large group of states, including both co-hosts of UNOC, was that governments would make progress towards stopping deep sea mining in Nice.

    UN Secretary-General Guterres said the deep sea should not become the “wild west“.

    Four new pledges
    French President Emmanuel Macron said a deep sea mining moratorium is an international necessity. Four new countries pledged their support for a moratorium at UNOC, bringing the total to 37.

    Attention now turns to what actions governments will take in July to stop this industry from starting.

    Megan Randles, Greenpeace head of delegation regarding the High Seas Treaty and progress towards stopping deep sea mining, said: “High Seas Treaty ratification is within touching distance, but the progress made here in Nice feels hollow as this UN Ocean Conference ends without more tangible commitments to stopping deep sea mining.

    “We’ve heard lots of fine words here in Nice, but these need to turn into tangible action.

    “Countries must be brave, stand up for global cooperation and make history by stopping deep sea mining this year.

    “They can do this by committing to a moratorium on deep sea mining at next month’s International Seabed Authority meeting.

    “We applaud those who have already taken a stand, and urge all others to be on the right side of history by stopping deep sea mining.”

    Attention on ISA meeting
    Following this UNOC, attention now turns to the International Seabed Authority (ISA) meetings in July. In the face of The Metals Company teaming up with US President Donald Trump to mine the global oceans, the upcoming ISA provides a space where governments can come together to defend the deep ocean by adopting a moratorium to stop this destructive industry.

    Negotiations on a Global Plastics Treaty resume in August.

    John Hocevar, oceans campaign director, Greenpeace USA said: “The majority of countries have spoken when they signed on to the Nice Call for an Ambitious Plastics Treaty that they want an agreement that will reduce plastic production. Now, as we end the UN Ocean Conference and head on to the Global Plastics Treaty negotiations in Geneva this August, they must act.

    “The world cannot afford a weak treaty dictated by oil-soaked obstructionists.

    “The ambitious majority must rise to this moment, firmly hold the line and ensure that we will have a Global Plastic Treaty that cuts plastic production, protects human health, and delivers justice for Indigenous Peoples and communities on the frontlines.

    “Governments need to show that multilateralism still works for people and the planet, not the profits of a greedy few.”

    Driving ecological collapse
    Nichanan Thantanwit, project leader, Ocean Justice Project, said: “Coastal and Indigenous communities, including small-scale fishers, have protected the ocean for generations. Now they are being pushed aside by industries driving ecological collapse and human rights violations.

    “As the UN Ocean Conference ends, governments must recognise small-scale fishers and Indigenous Peoples as rights-holders, secure their access and role in marine governance, and stop destructive practices such as bottom trawling and harmful aquaculture.

    “There is no ocean protection without the people who have protected it all along.”

    The anticipated Nice Ocean Action Plan, which consists of a political declaration and a series of voluntary commitments, will be announced later today at the end of the conference.

    None will be legally binding, so governments need to act strongly during the next ISA meeting in July and at plastic treaty negotiations in August.

    Republished from Greenpeace Aotearoa with permission.

    Article by AsiaPacificReport.nz

    MIL OSI Analysis – EveningReport.nz –

    June 17, 2025
  • Seeking unity, G7 meets amid escalating Ukraine, Middle East conflicts

    Source: Government of India

    Source: Government of India (4)

    Leaders from the Group of Seven nations begin annual talks on Monday amid wars in Ukraine and the Middle East that add to global economic uncertainty, as host Canada tries to avoid a clash with U.S. President Donald Trump.

    The G7 leaders from Britain, Canada, France, Germany, Italy, Japan and the U.S., along with the European Union, are convening in the resort of Kananaskis in the Canadian Rockies until Tuesday.

    But beyond the serene and picturesque mountain setting, they confront challenges. The first five months of Trump’s second term upended foreign policy on Ukraine, raised anxiety over his closer ties to Russia and resulted in tariffs on U.S. allies.

    With an escalating Israel-Iran conflict, which is spiking global oil prices, the summit in Canada is seen as a vital moment to try and restore a semblance of unity between democratic powerhouses.

    “The most important goal will be for the world’s seven largest industrial nations to reach agreement and take action,” German Chancellor Friedrich Merz said before attending his first G7.

    That will not be easy. After years of consensus, the traditional allies have scrambled to keep Trump engaged and maintain unity.

    Canada has abandoned any effort to adopt an all-encompassing comprehensive communique to avert a repeat of a 2018 summit in Quebec, when Trump instructed the U.S. delegation to withdraw its approval of the final communique after leaving.

    Instead, Ottawa has sought to get consensus for a chair’s statement that summarizes the key discussions and six other pre-negotiated declarations on issues such as migration, artificial intelligence and forest fires.

    Talks on Monday will centre around the economy, advancing trade deals, and China.

    Efforts to reach an agreement to lower the G7 price cap on Russian oil even if Trump decided to opt out have been complicated by the surge in oil prices since Israel launched strikes on Iran on June 12, two diplomatic sources said.

    The escalation between the two regional foes is on the agenda, with diplomatic sources saying they hope to achieve at least a joint statement to urge restraint and a return to diplomacy.

    “We are united. Nobody wants to see Iran get a nuclear weapon and everyone wants discussions and negotiations to restart,” France’s President Emmanuel Macron told reporters in Greenland on Sunday before travelling to Canada.

    He added that given Israel’s dependence on U.S. weapons and munitions, Washington had the capacity to restart negotiations.

    Trump said on Sunday many calls and meetings were taking place to broker peace.

    RUSSIAN ELEPHANT IN THE ROOM

    Highlighting the unease among some of Washington’s allies, Trump spoke on Saturday with Russian President Vladimir Putin and suggested the Russian leader could play a mediation role.

    Macron dismissed the idea, arguing that Moscow could not be a negotiator because it had started an illegal war against Ukraine.

    A European diplomat said Trump’s suggestion showed that Russia, despite being kicked out of the group in 2014 after annexing Crimea, was very much on U.S. minds.

    “In the eyes of the U.S., there’s no condemnation for Ukraine; no peace without Russia; and now even credit for its mediation role with Iran. For Europeans, this will be a really tough G7,” the diplomat said.

    Ukraine’s President Volodymyr Zelenskiy and NATO Secretary General Mark Rutte will attend the summit on Tuesday. European officials said they hoped to use the meeting, and next week’s NATO summit, to convince Trump to toughen his stance on Putin.

    “The G7 should have the objective for us to converge again, for Ukraine to get a ceasefire to lead to a robust and lasting peace, and in my view it’s a question of seeing whether President Trump is ready to put forward much tougher sanctions on Russia,” Macron said.

    (Reuters)

    June 16, 2025
  • Seeking unity, G7 meets amid escalating Ukraine, Middle East conflicts

    Source: Government of India

    Source: Government of India (4)

    Leaders from the Group of Seven nations begin annual talks on Monday amid wars in Ukraine and the Middle East that add to global economic uncertainty, as host Canada tries to avoid a clash with U.S. President Donald Trump.

    The G7 leaders from Britain, Canada, France, Germany, Italy, Japan and the U.S., along with the European Union, are convening in the resort of Kananaskis in the Canadian Rockies until Tuesday.

    But beyond the serene and picturesque mountain setting, they confront challenges. The first five months of Trump’s second term upended foreign policy on Ukraine, raised anxiety over his closer ties to Russia and resulted in tariffs on U.S. allies.

    With an escalating Israel-Iran conflict, which is spiking global oil prices, the summit in Canada is seen as a vital moment to try and restore a semblance of unity between democratic powerhouses.

    “The most important goal will be for the world’s seven largest industrial nations to reach agreement and take action,” German Chancellor Friedrich Merz said before attending his first G7.

    That will not be easy. After years of consensus, the traditional allies have scrambled to keep Trump engaged and maintain unity.

    Canada has abandoned any effort to adopt an all-encompassing comprehensive communique to avert a repeat of a 2018 summit in Quebec, when Trump instructed the U.S. delegation to withdraw its approval of the final communique after leaving.

    Instead, Ottawa has sought to get consensus for a chair’s statement that summarizes the key discussions and six other pre-negotiated declarations on issues such as migration, artificial intelligence and forest fires.

    Talks on Monday will centre around the economy, advancing trade deals, and China.

    Efforts to reach an agreement to lower the G7 price cap on Russian oil even if Trump decided to opt out have been complicated by the surge in oil prices since Israel launched strikes on Iran on June 12, two diplomatic sources said.

    The escalation between the two regional foes is on the agenda, with diplomatic sources saying they hope to achieve at least a joint statement to urge restraint and a return to diplomacy.

    “We are united. Nobody wants to see Iran get a nuclear weapon and everyone wants discussions and negotiations to restart,” France’s President Emmanuel Macron told reporters in Greenland on Sunday before travelling to Canada.

    He added that given Israel’s dependence on U.S. weapons and munitions, Washington had the capacity to restart negotiations.

    Trump said on Sunday many calls and meetings were taking place to broker peace.

    RUSSIAN ELEPHANT IN THE ROOM

    Highlighting the unease among some of Washington’s allies, Trump spoke on Saturday with Russian President Vladimir Putin and suggested the Russian leader could play a mediation role.

    Macron dismissed the idea, arguing that Moscow could not be a negotiator because it had started an illegal war against Ukraine.

    A European diplomat said Trump’s suggestion showed that Russia, despite being kicked out of the group in 2014 after annexing Crimea, was very much on U.S. minds.

    “In the eyes of the U.S., there’s no condemnation for Ukraine; no peace without Russia; and now even credit for its mediation role with Iran. For Europeans, this will be a really tough G7,” the diplomat said.

    Ukraine’s President Volodymyr Zelenskiy and NATO Secretary General Mark Rutte will attend the summit on Tuesday. European officials said they hoped to use the meeting, and next week’s NATO summit, to convince Trump to toughen his stance on Putin.

    “The G7 should have the objective for us to converge again, for Ukraine to get a ceasefire to lead to a robust and lasting peace, and in my view it’s a question of seeing whether President Trump is ready to put forward much tougher sanctions on Russia,” Macron said.

    (Reuters)

    June 16, 2025
  • MIL-OSI United Nations: Committee on the Elimination of Discrimination against Women Opens Ninety-First Session in Geneva

    Source: United Nations – Geneva

    The Committee on the Elimination of Discrimination against Women this morning opened its ninety-first session, hearing a statement from a representative of the Secretary-General and adopting its agenda and programme of work for the session.  During the session, the Committee will review the reports of Afghanistan, Botswana, Chad, Ireland, Mexico, San Marino and Thailand, and adopt concluding observations on the reports of Fiji, Solomon Islands and Tuvalu, which it reviewed during a technical cooperation session held in Fiji in April.

    Andrea Ori, Chief of the Groups in Focus Section, Human Rights Council and Treaty Mechanisms Division, Office of the High Commissioner for Human Rights, and Representative of the Secretary-General, said he was pleased to announce the opening of the session, after the Office of the High Commissioner for Human Rights was able to confirm it only last month due to the ongoing liquidity crisis affecting the United Nations.

    Mr. Ori said this year marked the twenty-fifth anniversary of Security Council resolution 1325 of 31 October 2000, a landmark document that recognised the disproportionate impact of conflicts on women and girls and the crucial role of women in conflict prevention, conflict management and sustainable peace efforts.

    Noting with concern that some 120 conflicts were currently affecting civilians and communities worldwide, and that women and girls were primarily targeted by gender-based violence as a tactic of war, Mr. Ori commended the Committee on its work to update general recommendation 30, which provided authoritative guidance to States parties on concrete measures to ensure that women’s rights were protected before, during and after conflict.

    Mr. Ori also announced with regret that the global funding crisis was affecting the Committee’s work directly. Due to the lack of funding, the Office of the High Commissioner was planning and operating under the assumption that no Committee would have a third session.

    He concluded by thanking the Committee for its unwavering commitment and dedication to advancing women’s rights and wished it a successful and productive session.

    Nahla Haidar, Committee Chairperson, said that the Committee was meeting in one of the most challenging times for the multilateral system, amidst devastating conflicts, a weakening of the rule of law, and scarce resources.  Human rights mechanisms needed to be protected more than ever for the benefit of all stakeholders.

    During the meeting, the Chair and Committee Experts discussed the activities they had undertaken since the last session.  Bandana Rana, on behalf of Brenda Akia, Committee Rapporteur and Chairperson of the Pre-Sessional Working Group, and Jelena Pia-Comella, Committee Rapporteur on follow-up to concluding observations, also briefed the Committee on their work.

    The Committee’s ninety-first session is being held from 16 June to 4 July.  All documents relating to the Committee’s work, including reports submitted by States parties, can be found on the session’s webpage.  Meeting summary releases can be found here.  The webcast of the Committee’s public meetings can be accessed via the UN Web TV webpage. 

    The Committee will next meet at 3 p.m. this today, Monday, 16 June, with the representatives of national human rights institutions and non-governmental organizations of Mexico, Thailand and Ireland, whose reports will be reviewed this week. 

    Opening Statement

    ANDREA ORI, Chief of the Groups in Focus Section, Human Rights Council and Treaty Mechanisms Division, Office of the High Commissioner for Human Rights, and Representative of the Secretary-General, said he was pleased to announce the opening of the session, after the Office of the High Commissioner for Human Rights was able to confirm it only last month due to the ongoing liquidity crisis affecting the United Nations.  The Committee’s pre-sessional working group, scheduled to be held after this session, and the sessions of both Optional Protocol Working Groups directly preceding this session were cancelled due to lack of funding.

    This year marked the twenty-fifth anniversary of Security Council resolution 1325 of 31 October 2000, a landmark document that recognised the disproportionate impact of conflicts on women and girls and the crucial role of women in conflict prevention, conflict management and sustainable peace efforts, reflecting international human rights norms.

    Some 120 conflicts were affecting civilians and communities worldwide, and women and girls were primarily targeted by gender-based violence, in particular sexual violence, as a tactic of war to humiliate, dominate, instil fear in, and displace communities.  Situations of insecurity, organised violence and armed conflicts exacerbated pre-existing gender inequalities and placed women and girls at an increased risk of gender-based violence.  Mr. Ori commended the Committee on its work to update general recommendation 30 on women in conflict prevention, conflict and post-conflict situations, which provided authoritative guidance to States parties on concrete measures to ensure that women’s rights were protected before, during and after conflict, and highlighted the importance of women’s meaningful participation in conflict prevention, resolution and peacebuilding.

    Mr. Ori welcomed that the Committee’s Chair would participate in the first panel of the 2025 annual full-day discussion on the human rights of women at the fifty-ninth session of the Human Rights Council, to be held on 24 June 2025 under the theme “Gender-based violence against women and girls in conflict, post-conflict and humanitarian settings”.  The second panel of the Council’s annual full-day discussion would focus on the theme “Commemoration of the International Day of Women in Diplomacy focusing on overcoming barriers to women’s leadership in peace processes”.  

    Mr. Ori said the global funding crisis was affecting the Committee’s work directly.  It was highly likely that, for those treaty bodies with three annual sessions, the Office of the High Commissioner would not be able to secure the funding to hold their third session.  The Office was therefore planning and operating under the assumption that no Committee would have a third session. The Office had received only 73 per cent of its approved regular budget in 2025, and 87 per cent of its approved regular budget in 2024. 

    The United Nations Office at Geneva’s conference services had also adopted cash conservation measures, which would impact the conference support provided to the United Nations human rights treaty bodies, with an overall reduction of 10 per cent.  With further reduction of the allotment, the mandated activities of treaty bodies would be even more affected in 2025 than in 2024. This would impact the treaty bodies’ ability to hold dialogues with States parties and to take decisions on individual communications, resulting in further delays and backlogs, and the Office was obliged to significantly reduce treaty body capacity building activities. 

    All this caused real damage to predictability, which was so important for States, civil society organizations and rights-holders to engage with treaty bodies.  Given the overall reduction in funds and availability of support services, “business as usual” was no longer possible and the treaty bodies needed to plan on “doing less with less”.

    The thirty-seventh annual meeting of Chairpersons of human rights treaty bodies was able to meet in Geneva from 2 to 6 June.  The Chairs dedicated the meeting to the liquidity crisis, which was affecting the very existence of treaty bodies, and to discussing what could be done to increase predictability under the current financial and human constraints. 

    Mr. Ori said he was aware that the Committee had a heavy programme ahead for the next three weeks, including constructive dialogues with eight States parties, the consideration of several individual communications, and the adoption of an addendum to general recommendation 30 on women in conflict prevention, conflict and post-conflict situations.  He concluded by thanking the Committee for its unwavering commitment and dedication to advancing women’s rights and wished it a successful and productive session.

    Questions by Committee Experts

    A Committee Expert said that more than 123 million people were currently displaced worldwide due to conflict situations, the majority of whom were women and children.  What could be the role of the United Nations in the future if it could not prevent these conflicts?

    Another Committee Expert asked why tens of countries were not providing the funds they had promised to provide. Was the United Nations considering reassessing its priorities to ensure that the Committee could hold three sessions each year?

    A Committee Expert said that the members of the Committee did not take the current situation lightly.  It was a grand shame and a disgust.  How could Member States let this happen?

    A Committee Expert said that reducing the activities of the treaty bodies would further silence them at this important moment.  Human rights systems needed to be reenforced, and this required resourcing.  How could this silencing be prevented?

    NAHLA HAIDAR, Committee Chairperson, said that it was unacceptable that the work of the treaty bodies was becoming less and less visible.  The Committee hoped that something would happen that would allow it to hold its third session in September.

    Responses by the Representative of the Secretary-General

    ANDREA ORI, Chief of the Groups in Focus Section, Human Rights Treaties Branch, Office of the High Commissioner for Human Rights, and Representative of the Secretary-General, said the Office of the High Commissioner shared the Committee’s concerns. This was a turning point in multilateralism and in international law.  There were more than 120 conflicts in the world, the primary victims of which were women and children.  Authoritarian regimes were taking advantage of and working to weaken the multilateral system.

    Some 40 per cent of the United Nations’ regular budget depended on two States.  If one of those States decided not to pay its dues, that shook the entire Organization.  This was a major factor in the instability of the United Nations system.  The Secretary-General was working to reform the system through the “UN80” initiative, looking for solutions that kept it functioning with limited resources.

    The UN80 initiative was focused on reform.  This was an opportunity to reform the whole system rationally, to allow it to meet the challenges of today.  As part of the initiative, the Office of the High Commissioner for Human Rights was merging and regionalising its functions.  The Office was thinking optimistically but planning for the worst. It needed to be proactive rather than reactive and consider alternatives to stabilise the human rights system. The Committee also needed to consider alternative ways of carrying out its activities and reviewing States parties. Together, the Office and the Committee could find solutions for the challenges they faced by taking proactive decisions.

    Statements by Committee Experts

    NAHLA HAIDAR, Committee Chairperson, said that the Committee had taken decisions to increase the production of lists of issues prior to reporting.  The United Nations system needed to not be reactive, and UN80 needed to implement thoughtful rather than patchwork reforms.

    The Committee was meeting in one of the most challenging times for the multilateral system, amidst devastating conflicts, a weakening of the rule of law, and scarce resources.  Human rights mechanisms needed to be protected more than ever for the benefit of all stakeholders.

    Since the last session, the number of States parties that had ratified the Convention had remained at 189.  On 15 May 2025, San Marino accepted the amendment to article 20, paragraph one of the Convention concerning the Committee’s meeting time, bringing the total number of States parties having accepted the amendment to 82.  A total of 126 States parties to the Convention were currently required to accept the amendment for it to enter into force.  The number of States parties that had ratified the Optional Protocol remained at 115, but Estonia was in the process of ratification.

    Ms. Haidar said she was pleased to inform that since the last session, Afghanistan, Australia, Cyprus and Guinea-Bissau had submitted their periodic reports to the Committee.  The interim government of Syria had decided to withdraw the combined third and fourth periodic reports that had been submitted by the previous regime and submit a new report under the traditional reporting procedure.  The total number of States parties that had opted out from the simplified reporting procedure since the 2022 decision to make the simplified reporting procedure the default procedure remained at 13. 

    The Committee adopted its agenda and programme of work for the session, and Ms. Haidar and Committee Experts discussed the activities they had undertaken since the last session. 

    BANDANA RANA, on behalf of BRENDA AKIA, Committee Rapporteur and Chair of the Pre-Sessional Working Group, introduced the report of the pre-sessional Working Group for the ninety-first session, which met from 28 October to 1 November 2024 in Geneva.

    The Working Group prepared lists of issues and questions in relation to the reports of Botswana, Cabo Verde, Czech Republic, El Salvador and Lesotho, in addition to lists of issues and questions prior to the submission of the reports of Equatorial Guinea, Libya and Malta under the simplified reporting procedure.  The pre-sessional Working Group had the reports of these States parties, except for those of Equatorial Guinea, Libya and Malta, to be submitted in response to the respective lists of issues prior to reporting.  It further had before it the general recommendations adopted by the Committee; draft lists of issues and questions and lists of issues prior to reporting prepared by the Secretariat; and other pertinent information, including concluding observations of the Committee and other treaty bodies.  In preparing the lists, the Working Group paid particular attention to the States parties’ follow-up to the concluding observations of the Committee on their previous reports.  The Working Group benefited from written and oral information submitted by entities of the United Nations system and non-governmental organizations, as well as by national human rights institutions.  The lists of issues and questions and lists of issues prior to reporting adopted by the Working Group were transmitted to the States parties concerned.

    NAHLA HAIDAR, Committee Chairperson, said that, in light of the backlog of State party reports pending consideration by the Committee accumulated during the COVID-19 pandemic, the Committee had decided to postpone the consideration of the States parties referred to in the report of the pre-sessional Working Group to future sessions, with the exception of Botswana.  The Committee instead decided to, during the present session, consider the reports of Afghanistan, Botswana, Chad, Ireland, Mexico, San Marino and Thailand, and adopt concluding observations on Fiji, Solomon Islands and Tuvalu, following country exchanges held during the Pacific technical cooperation session in Suva, Fiji from 7 to 11 April 2025.

    JELENA PIA-COMELLA, Committee Rapporteur on follow-up to concluding observations, briefed the Committee on the status of the follow-up reports received in response to the Committee’s concluding observations.  She said that at the end of the Committee’s ninetieth session, follow-up letters outlining the outcomes of assessments of follow-up reports were sent to Belgium, Gambia, Portugal, Sweden and Switzerland.  Reminders were sent to Honduras, Saint Kitts and Nevis, and Ukraine, as their follow-up reports were scheduled for consideration at the ninetieth session but had not been received.  Ukraine’s report had since been received and would be scheduled for assessment by the Committee at its ninety-second session in October 2025.

    For the present session, the Committee would consider follow-up reports from Finland and Georgia, both received on time; Bahrain and Norway, received with a one-month delay; Armenia, with more than two months’ delay; and Mongolia, Namibia and the United Arab Emirates with more than five months’ delay.  Reminders regarding the submission of follow-up reports would be sent to Costa Rica, Hungary and Mauritania.

    ___________

    Produced by the United Nations Information Service in Geneva for use of the media; 
    not an official record. English and French versions of our releases are different as they are the product of two separate coverage teams that work independently.

     

    CEDAW25.011E

    MIL OSI United Nations News –

    June 16, 2025
  • MIL-OSI Economics: Luis de Guindos: Interview with Reuters

    Source: European Central Bank

    Interview with Luis de Guindos, Vice-President of the ECB, conducted by Balázs Korányi and Francesco Cánepa on 12 June 2025

    16 June 2025

    President Lagarde said the ECB was in a good place now. Investors and ECB watchers took that to mean a pause in rate cuts is appropriate. Was that the correct interpretation?

    The projections provide the key to understanding our policy decision. It’s almost a cliché now but the level of uncertainty is huge. So much so, we published alternative scenarios. The key differences in the scenarios relate to trade policy. In the baseline, we assume no retaliation and a 10% tariff. In the adverse scenario, we assume higher tariffs and retaliation.

    The final outcome in trade negotiations is by far the most relevant factor of uncertainty that we considered in our projections, which are the basis for our monetary policy decisions. Nobody knows the final outcome of the trade negotiations and the impact it may have on the outlook for growth and inflation.

    Having said that, markets have understood perfectly well what the President said about being in a good position. Even in this context of huge uncertainty, I think that markets believe and discount that we are very close to our target of sustainable 2% inflation over the medium term.

    Your projections incorporate interest rate futures, which still price in one more rate cut. So, if the baseline materialises, we can still expect a cut?

    We incorporate market expectations for interest rates into the underlying assumptions of our projection framework. But I think that, in this case, this assumption is not important compared with the consideration we give to trade issues in the June exercise. Trade has a greater magnitude of relevance in influencing our projections.

    Would you say that risks to the inflation outlook are to the upside or the downside?

    This is quite an important question. A tariff is a tax on imported goods. So the first impact is inflationary. But tariffs simultaneously depress demand, which can more than compensate for the initial inflationary impact. So, in the medium term, tariffs reduce both growth and inflation.

    But there is another factor that is more difficult to calibrate. A fully fledged trade war could give rise to fragmentation in the global economy and distortions in the global supply chain. And that would be inflationary in the longer term.

    So, with all these nuances, over the next two years tariffs would reduce both growth and inflation. But, if you look further out, you have to consider the potential impact that fragmentation could have. That goes beyond our projection horizon, but it is something that we will have to take into consideration in the future.

    You now project inflation dipping below target and then coming back to 2%. We’ve seen such a scenario before, when the longer-term projection always points to 2%, partly because of mean reversion. So, how much weight do you attach to the 2027 projection? And do you give a lot of thought to this notion of mean reversion as a feature at the back of the projection?

    When it comes to 2026, there are two key issues: the appreciation of the euro and the evolution of prices of raw materials, particularly energy. For 2027 a similar appreciation of the currency and a fall in energy prices is not expected to take place, and that is the reason why we expect inflation to come back up to 2%. But, of course, the level of uncertainty is huge. So, even though we are convinced that inflation will converge to our target, we need to stay data-dependent and decide meeting by meeting. Also, bear in mind that we have already reduced interest rates by 200 basis points – from 4% to 2%.

    The risk of undershooting in any year is that it influences wage-setting and could perpetuate low inflation. In the first quarter of next year, you see inflation at 1.4%. Do you consider undershooting a significant risk?

    I think inflation is going in the right direction. There is a clear deceleration, also confirmed by the latest data. But I don’t think that inflation hovering around 1.4% in the first quarter of 2026 is going to be enough to unanchor inflation expectations and modify the wage bargaining process. We clearly see that wage dynamics are cooling. But, even when you take all these factors into consideration, compensation per employee will be around 3% over time. So, the risk of undershooting is very limited in my view.

    Our assessment is that risks for inflation are balanced. Clearly, 1.4% is below target. But we look at the medium term, and in the medium term there are other factors that can compensate for the short-term elements that can temporarily bring inflation down.

    Europe is expected to spend more on defence. Do you think that greater military expenditure should come at the expense of other spending, or should it be financed from debt?

    A lot of uncertainty still surrounds our fiscal policy assumptions and projections. Trade is prominently in the news, but fiscal policy is often overlooked.

    First of all, fiscal policy in the United States is important. The new tax bill is going to increase the deficit, and the US fiscal position is already challenging. The debt ratio is over 100% and the fiscal deficit between 6% and 7%. So, markets are likely to start paying more attention to fiscal policy in the United States, which could give rise to increasing yields. I think this will catch the eye of markets more and more in the future.

    In the case of Europe, we have seen a degree of decoupling in terms of yields with respect to the United States. But developments have been much more moderate.

    Nevertheless, fiscal policy is relevant because there is an additional need to increase spending on defence, which is going to demand more resources. The starting point for some EU countries is not good. The EU does not have much fiscal space, so we have to look for social and political space in order to expand it.

    We will need to have more support from the people of Europe, and governments will have to explain clearly the necessity for higher spending on defence, because it’s a question of independence and autonomy.

    This extra spending may take some time to ramp up. Do you think ECB watchers or the ECB’s own projections overestimate how much fiscal support is coming?

    There are different fiscal multipliers, and much will depend on the kind of fiscal spending that countries are going to pursue. This kind of expenditure takes time to be implemented, so the impact on inflation and growth is not going to be material in the short term.

    Do you think the ECB can play a role in helping that defence spending, like with the targeted QE, targeted TLTRO, or some other tool?

    I can assure you that this is something that we have not discussed.

    We saw in the minutes of the Federal Reserve System’s May meeting that it had extended the swap line with the ECB. Nevertheless, given the political turmoil in the United States, do you think it would be a good exercise to look at scenarios in which US dollar funding dries up? Should the ECB be preparing the financial sector for such a scenario?

    We believe that swap lines with the Federal Reserve are a good instrument in terms of financial stability for both the euro area and the United States. We are fully convinced that the swap lines will be maintained over time because they are positive for both sides and for global financial stability.

    But markets are starting to openly doubt the status of the US dollar as the world’s leading reserve currency. And some central banks are even building up reserves in gold. Do you think it would be prudent for the ECB, and the Eurosystem more generally, also to start building up more gold reserves or reserves in assets other than US dollar-denominated assets?

    The weight of gold in our reserves has been on the increase clearly because of rising gold prices. Central banks use gold as an instrument to diversify in moments of geopolitical risk, and that is understandable. Some are even looking at silver or platinum to diversify.

    But the role of the US dollar as a reserve currency in the short term is not going to be challenged, in my opinion.

    The role of the euro as a reserve currency in the global arena will depend on actions taken in Europe. If we can achieve a much more integrated goods and services market, then the capital markets union and the banking union will come about much more easily. It’s very difficult to make progress in the capital markets union or the banking union if you do not advance in the integration of the goods and services market.

    You put out a report on the role of the euro last week, which covers basically to the end of last year. Can you provide us with a bit of insight on what’s been happening since 2 April. There’s been a lot of movement on financial markets. Have euro assets really benefited from capital leaving the US dollar, or is it mostly gold that has benefited?

    If you look at market developments, we had a big decline and a risk-off movement at the beginning of April. And now market valuations have fully recovered – apart from the US dollar and commodity prices.

    The policies of the new US Administration cover not only tariffs, but also fiscal policy and the regulatory frameworks for banks – in terms of the implementation of Basel III – and non-banks, and even for crypto assets. At the end of the day, this is a sort of change of paradigm. There have even been some doubts about how engaged the new US Administration is going to be with multilateral institutions.

    Even though markets have recovered, setting aside the US dollar and commodities, there is something that is quite obvious. The correlation of asset prices has changed quite a lot since April. If you look at developments in stock and bond prices, the correlation has been different from the ones we had in the past.

    Even in the case of yields on US Treasuries, we have seen ups and downs. But I think that the main element that indicates some doubts about the new US policies is the evolution of the US dollar. That’s quite clear.

    The flipside of that is that the euro has become stronger. Is it becoming an issue for growth and for exporters? Can the euro zone even afford reserve currency status given the currency strength that comes with it?

    I think that, at USD 1.15, the euro’s exchange rate is not going to be a big obstacle. And the question of the reserve status of the euro in the global arena is not going to have a significant impact in the short term.

    In the short term, the status of the US dollar is not going to be challenged. In the medium term, the factor that is going to be key is the kind of policy that we implement in Europe. If we are able to become more independent, more autonomous in defence, and we start to do what we have to do for the integration of markets… gradually, over the medium to long term, the euro will gain market share. But, in the short term, a big jump in market share is out of the question.

    So you don’t seem to be terribly concerned about USD 1.15 for the real economy. Accepting that you have no exchange rate target, what is the point where you become concerned that the exchange rate has a detrimental impact on the real economy?

    Much more than a specific level, I think that we have to look at the speed of developments, how rapid the appreciation or depreciation is. And if there is a clear overshooting of the exchange rate, that is something we should analyse.

    So far, the evolution has been quite controlled. Perhaps the surprise has been that, at the beginning of the year, most market participants believed that we could go to parity. And instead we have gone to the current level. I would not say that the exchange rate has been extremely volatile so far, or that we have seen a very rapid appreciation .

    We take the exchange rate into consideration in our projections. The perception of the ECB is that the appreciation of the euro has so far been positive in terms of achieving our target for inflation. That’s one of the reasons why we have revised our inflation projections down for 2026.

    A recent paper by Blanchard and Ubide has relaunched the idea of a European safe asset. You were on the other side of the fence when you were once a finance minister. Do you see growing chances of more joint issuance happening?

    Ideas coming from the academic sphere are very good. The one you mentioned is a very interesting proposal for a EU safe asset in a very liquid and deep market. That is something we have to take into consideration.

    But I think we have to do a lot of things before that. We need a much more integrated single market, and to make much more progress towards the capital markets union and the completion of the banking union. Simultaneously – and I feel we have made some progress here – we need the fiscal positions of euro area countries to be closer and disparities to be reduced.

    So it’s an interesting proposal from an academic standpoint. But I think that, from a practical viewpoint, there are other necessary conditions before we get there and these are not yet in place.

    Do you think it could be prudent for the ECB and the Eurosystem’s national central banks to bring back some of the gold reserves they store in New York?

    There is no doubt in my mind that they are totally safe.

    Even when a new Federal Reserve Chair will be appointed next year?

    Well, I don’t know who the next Chair is going to be, but I expect it will be a competent and sensible person.

    Fair enough. But has there been a discussion about this or didn’t it even come up?

    Even the possibility of it didn’t come up.

    Over the past few years, the ECB has learned some lessons, such as that you also have to react forcefully to inflation when it’s too high. This didn’t seem to be a problem a few years ago, yet all of a sudden it was. So, with that in mind, how would you like the new strategy document to reflect that?

    As you have said, the framework for inflation was totally different five years ago. And now we have had a period of high inflation, which was an important change.

    This is going to be a reassessment of our strategy review. In my view, we are not going to see modications in the definition of price stability. With respect to the toolkit, I think that all the instruments are going to remain available for use in the future.

    Simultaneously, we have learned much more about side effects, and we are going to pay more attention to financial stability considerations. QE, for instance, was a new instrument added to the toolkit in 2015. What is important is that when you use an instrument, you can gauge its real impact. Sometimes it’s much easier to start using the instrument than to withdraw it — that’s something we have learned as well. And finally, the framework of the global economy is going to be very different from the one we had in 2021. In one sense, I think we are going to have a much more fragmented world.

    In 2021, we didn’t have any discussions about trade. Deflation, or low inflation, was the main point of our review, and how close we were to the lower bound. At the same time, some academics raised the issue of the natural interest rate. This is interesting from a conceptual and an academic standpoint, but not for actual monetary policy decision-making.

    What should we expect from the new strategy statement?

    I would not expect big surprises. This is about evolution, not revolution. It is just a reassessment. It will be much more focused on how the framework for central banks and for the ECB has changed over the last five years.

    In a multipolar world, what role can China play for the ECB as a partner, and the People’s of Bank of China particularly?

    China is an important player. It’s the world’s second largest economy. We have some monetary arrangements with the central bank, like our swap lines.

    Sometimes when we talk about trade policies, we look only at bilateral tariffs. But we need to have a holistic approach. In the case, for instance, of the negotiations between the United States and Europe, what is going to be key is not only the final outcome in terms of bilateral tariffs, but the potential impact of trade diversion. You need to be holistic with respect to trade, because otherwise, perhaps, you are missing the real impact that these trade negotiations are going to have.

    Do you see that as a big risk, trade diversion? Your colleague Isabel Schnabel seemed to suggest this was not a major risk.

    Well, I don’t know whether it’s going to be a big risk, but undoubtedly this is something that we have to monitor and take into consideration.

    Could the ECB work with the People’s Bank of China, for example in the field of payments? China has its own digital currency.

    We are fully behind a digital euro. We believe that it’s something that is going to be very important in Europe.

    There will be new legislation in the United States about stablecoins. They are going to become a means of payment and most projects are going to come from the United States. My reading of the digital euro project is digital public money: it will be a means of payment, it’s not going to pay an interest rate, and it will not replace cash. We are going to take financial stability implications into consideration too.

    People, at the end of the day, both in the analogue and digital context, always want to have public money. For them, that’s real money. And if people doubt whether they can transform their current account balance into banknotes, then a bank run can take place. The digital euro is going to play a similar role in a digital world.

    If the case for a digital euro is so clear, why does the legislator not see it? Brussels has been dragging its feet. Why is that, and do you expect a change?

    I hope that we will be able to convince the legislators, but you have to ask them why they have so many doubts. From our standpoint, it’s quite clear that a digital euro is something that is extremely relevant and useful in the payment context in Europe. And I think that eventually, they will be convinced of the clear advantages of a digital euro.

    MIL OSI Economics –

    June 16, 2025
  • MIL-OSI Economics: Thales and KNDS France unveil RAPIDFire Land, a land-based variant of the 40 mm RAPIDFire Naval defence system

    Source: Thales Group

    Headline: Thales and KNDS France unveil
    RAPIDFire Land, a land-based variant of the 40 mm RAPIDFire Naval defence system

    16 Jun 2025

    Share this article

    • RAPIDFire is a remotely operated artillery system co-developed by Thales and KNDS France. The French defence procurement agency (DGA) has awarded a contract for the production of 48 of these systems, and the first two RAPIDFire systems ordered earlier are now operational on board France’s new-generation fleet replenishment tankers.
    • RAPIDFire can be installed on multiple platform types, and the land-based version will meet emerging operational requirements, in particular to protect sensitive sites from a wide range of threats including saturation attacks.
    • The Airburst munition, which represents the cutting edge of air defence capabilities, is reaching an important milestone.

    Full qualification of RAPIDFire system

    The French defence procurement agency (DGA) has already ordered 14 RAPIDFire systems to equip French Navy vessels. Two systems have been installed on board the fleet replenishment tanker (BRF) Jacques Chevallier, which has completed two long-duration deployments, including several live fire exercises, with France’s carrier strike group. Two others were recently installed on France’s second BRF tanker Jacques Stosskopf ahead of an upcoming long-duration deployment. A fifth system will soon equip a new French Navy offshore patrol vessel.

    The RAPIDFire system was qualified in early 2025 and can now be used with all existing 40CT munitions.

    As the first remotely operated 40 mm system to incorporate the 40CT cannon, RAPIDFire provides a close-in self-defence capability to protect platforms against modern air and surface threats. It features state-of-the-art optronics jointly designed by Thales and KNDS France, and the new 40 mm cased telescoped munition technology developed by CTAI, a subsidiary of KNDS France.

    This solution provides unmatched firepower, with a ready rack of up to 140 rounds, corresponding to dozens of target interceptions with no need to reload. The fire control system recalibrates its aim after every round fired to account for the target’s speed and direction of travel. RAPIDFire is designed to engage a broad range of threats – from ships to light aircraft, drones, loitering munitions and missiles – at ranges of up to 4 kilometres. Its 40 mm cannon is compatible with all telescoped munitions, including the A3B (Airburst) round, which is particularly effective against aerial threats.

    A multi-platform system for land and naval forces

    RAPIDFire’s underlying technology is versatile enough for the system to be adapted for various applications. A land-based version is now planned following discussions with the French Air and Space Force on the need to protect high-value assets at its air bases in France and during overseas deployments.

    KNDS France and Thales are developing the land version of RAPIDFire in two configurations:

    • Semi-mobile for site protection, with a 20-foot platform set up on the ground that can be readily moved and re-deployed to other locations.
    • Mobile, with the 20-foot platform mounted on a vehicle to protect high-value assets in the theatre of operations.

    A3B, the ideal munition for air defence

    Leveraging the proven airburst technology of the GPR-AB-T round, the Anti Aerial Airburst (A3B) munition delivers a payload of tungsten subprojectiles with a directional (frontal) terminal effect, providing enhanced effectiveness against various types of aerial targets: drones, helicopters, light aircraft, fighter jets, low-end subsonic missiles and RAM (rocket, artillery, mortar) threats.

    Development of the A3B munition is ongoing (currently at Technology Readiness Level 5), with full operational capability in anti-air mode expected in 2027. A contract modification was awarded in late 2024 for the development, production engineering, qualification and delivery of a first batch of 500 A3B munitions with the RAPIDFire system.

    About Thales

    Thales (Euronext Paris: HO) is a global leader in advanced technologies for the Defence, Aerospace, and Cyber & Digital sectors. Its portfolio of innovative products and services addresses several major challenges: sovereignty, security, sustainability and inclusion.

    The Group invests more than €4 billion per year in Research & Development in key areas, particularly for critical environments, such as Artificial Intelligence, cybersecurity, quantum and cloud technologies.

    Thales has more than 83,000 employees in 68 countries. In 2024, the Group generated sales of €20.6 billion.

    About KNDS

    KNDS is the result of a joint venture between Krauss-Maffei Wegmann (KMW) and Nexter, two of Europe’s leading manufacturers of military land systems, based in Germany and France.

    KNDS has around 10,000 employees, with sales of €3.8 billion in 2024, an orderbook of around €23.5 billion and order intake of €11.2 billion.

    Its product range includes tanks, armoured vehicles, artillery systems, weapon systems, ammunition, military bridges, information and command systems, training solutions, protection solutions and a wide range of equipment, as well as customer services.

    The creation of KNDS marks the beginning of the consolidation of the land defence systems industry in Europe. The strategic alliance between KMW and Nexter strengthens the competitiveness and international positioning of both groups, as well as their ability to meet the needs of their respective national armed forces. It also offers European and NATO customers the possibility of greater standardisation and interoperability for their defence equipment, with a reliable industrial base.

    KNDS is headquartered in Amsterdam.

    MIL OSI Economics –

    June 16, 2025
  • MIL-OSI Economics: Privacy blind spot could stall AI’s future in UK homes, says new study

    Source: Samsung

     
    As smart technology and AI become increasingly integrated into our daily lives, new research finds that nearly 9 out of 10 Brits (89%) express concerns about their privacy.
     
    But, for the majority of consumers, these concerns stop at their phones – despite other smart devices in the home also collecting personal data and being just as vulnerable to threats.
     
    This new research from Samsung Electronics, which surveyed over 8,000 Millennial and Gen Z respondents across Europe, including the UK, reveals that over a quarter (28%) of young Brits never think about the security of their smart appliances. In contrast, 1 in 2 (53%) think about the privacy of their mobile phones every day – a worrying blind spot given how connected our smart devices have become, and with the number of smart homes in Europe expected to surpass 100 million by 2028.[1]
     
    The research highlights how managing privacy can feel overwhelming for many – with over 1 in 10 (14%) of those surveyed saying it’s too complex, and 7 in 10 (70%) finding it stressful. Within Europe, Spain tops the list of countries where people find managing their privacy the most stressful (88%), followed by Greece (87%) and France (75%) and Italy (75%).
     
    Privacy concerns among Brits are wide-ranging – from fears of financial theft (73%) to unease about metadata being used to identify them (61%).
     
    The findings point to a deep education gap when it comes to privacy. Many want to take control of their data when it comes to their technology. In fact, almost 8 in 10 (78%) put such considerations front and centre at point of purchase, alongside their familiarity with the brand. Yet despite rising awareness, many still feel unequipped to take meaningful action:
     

    Only 22% say they feel ‘very’ knowledgeable about privacy
    Just over half (54%) are aware of the data their apps and devices collect about them
    3 in 10 (28%) accept default settings on apps without fully understanding them
    Almost 6 in 10 (57%) feel they can never be fully in control of their privacy across their devices
    7 in 10 (70%) are calling for better education on data and privacy
    Over 1 in 10 (14%) consumers say they trust brands to take the protection of their data seriously

     
    These fears are holding UK consumers back from harnessing the full potential of the latest technology. 1 in 5 (18%) haven’t shared data between smart devices in the past year due to security fears—showing that Brits aren’t taking full advantage of connected living, and the enhanced lifestyle benefits it can bring.
     
    Yet two thirds say they would be more open to fully embracing AI and smart-home technology if they better understood the benefits to their lifestyle (67%) and felt confident their data was secure (67%). From real-time smart home updates (15%) to personalised shopping discounts (15%), job opportunities (14%) and tailored fitness and health suggestions (14%), many recognise that they are missing out on everyday enhancements due to concerns around how their data is handled.
     
    In light of these findings, Samsung is reinforcing its commitment to empowering users with strong safeguards and transparent privacy controls in an increasingly AI-driven world.
     
    Dr. Seungwon Shin, Corporate EVP & Head of Security Team, Device eXperience Business at Samsung Electronics said: “At Samsung, we believe true innovation starts with people – which is why we put privacy at the core of everything we do. This research highlights a growing trend: while consumers are proactive about managing privacy on their smartphones, they’re often overlooking the broader ecosystem of connected devices. It also reflects a hesitation to fully embrace AI-powered experiences, largely driven by uncertainty around data use.
     
    As advocates for privacy-first design, we’re committed to earning trust through transparency, choice, and built-in protections. Everyone should be able to explore new AI capabilities with confidence, knowing their data is protected and they remain in control. That’s why we’re focused on putting privacy in the hands of users – where it belongs.”
     
    At the heart of this mission is Samsung Knox, the company’s government-grade security platform that safeguards its smart home appliances[2] and Galaxy devices. With the rise of connected living, Samsung is expanding Knox security across its ecosystem so users can enjoy smart appliances and AI-powered features with peace of mind[3]

    Knox Matrix is Samsung’s long-term vision for connected security—where devices in the same ecosystem work together to safeguard one another. Built on private blockchain technology and backed by future-ready protections like post-quantum cryptography[4], Knox Matrix enables real-time, multi-device protection across smartphones, tablets, TVs, and more.
     
    Complementing this is Knox Vault, which stores sensitive information like PINs, passwords and biometric data in a separate, hardware-based environment. This ensures that even if the main operating system is compromised, private information always stays protected.
     
    With this layered security in place, users are empowered to manage their privacy across all their connected devices, making choices entirely on their own terms.
     
    The research also shows that UK consumers want more than just promises—they’re seeking practical tools. 28% support clearer data usage policies, and almost the same amount value privacy information that’s simple and easy to understand (29%).
     
    Recognising this need, Samsung is expanding its efforts to educate users and equip them with tools that put privacy into their hands across all Samsung devices. For more information on privacy, see here. For more information on the Samsung Knox security principles, see here.
     
    [1]Research and Markets. (2024). Smart Homes and Home Automation Report 2024. Business Wire.
    [2]Samsung Knox is applied to select appliances launched in 2018 and later.
    [3]Samsung Knox Matrix cannot guarantee complete protection against all vulnerabilities within a user’s connected device ecosystem.
    [4]Post-quantum cryptography is available on Galaxy S25 series.

    MIL OSI Economics –

    June 16, 2025
  • MIL-OSI Europe: EIB supports with €1.6 bn the strategic Bay of Biscay electricity interconnection between Spain and France

    Source: European Investment Bank

    EIB

    • Bay of Biscay is a landmark project for the European power system that will boost the interconnection capacity between the Iberian Peninsula and rest of continental Europe.
    • Initiative to increase the exchange capacity from 2,800 to 5,000 megawatts (MW), improving reliability of power supply among France, Spain and Portugal and with the rest of Europe.
    • Once operational the interconnection will contribute to ensure cleaner, more secure, and more affordable power for millions of citizens.
    • With a total route length of 400 km, 300 km of which underwater, it will become the first submarine electricity interconnection between Spain and Fance.
    • This is a Project of Common Interest for the EU being implemented through a joint venture between the transmission system operators of Spain, Red Eléctrica, and France, RTE, Réseau de transport d’électricité.

    The European Investment Bank (EIB) is pledging €1.6 billion to finance the construction of the Bay of Biscay electricity interconnection between Spain and France. The EIB financing for the Bay of Biscay project takes the form of loans to Spanish and French transmission-system operators Red Eléctrica and RTE Réseau de transport d’électricité.

    The parties signed first loan tranches totalling €1.2 billion today at the EIB headquarters in Luxembourg. The event was attended by Nadia Calviño, president of the EIB Group, Dan Jørgensen, European Commissioner for Energy and Housing, Marc Ferracci, French minister of Industry and Energy, Miguel González Suela, Spanish deputy secretary of State – for Ecological Transition and the Demographic Challenge, Beatriz Corredor, chairwoman of Redeia, parent company of Red Eléctrica and Thomas Veyrenc Member of the Executive Board, director general for Finance, Strategy and Economics of RTE. This financial support adds up to the €578 million EU grant allocated to this project under the Connecting Europe Facility.

    This is a landmark Project of Common Interest in which the EIB, the European Commission, Red Eléctrica and RTE are joining forces to strengthen cross-border electricity interconnections and hereby the overall European energy system.

    “EIB support for the France-Spain electricity interconnection will be key to ensuring that the Iberian Peninsula is no longer an energy island. This agreement will lead to a major shift in energy integration, an important area for EU competitiveness and strategic autonomy.”  said Nadia Calviño, president of the EIB Group”.

    “Europe needs more integrated and more interconnected energy systems and markets. This is crucial to ensure our citizens have access to clean and stable supplies, wherever they are. This is what a genuine Energy Union is about, “said Dan Jørgensen, European Commissioner for Energy and Housing. “I very much welcome the additional financial support offered by the EIB for a key project that will ultimately improve the lives of many across the Pyrenees and beyond.”

    Construction of the Bay of Biscay link is already under way by Inelfe – joint venture by RTE and Red Eléctrica, and it is due to become operational in 2028. Once operational, the project will almost double the electricity exchange capacity between France and Spain to 5,000 MW. That means cleaner, more secure, and more affordable power for millions of citizens, while avoiding 600,000 tonnes of CO₂ each year.

    The project will strengthen the interconnection capacity between France and Spain, helping the Iberian peninsula’s progress towards the EU interconnection target for Member States of at least 15% of installed production capacity by 2030. The Bay of Biscay project, together with the underground project between Baixas-Santa Llogaia and the improvement of the existing Argia-Hernani infrastructure will contribute to enhance the interconnection capacity between the Iberian Peninsula and the rest of Europe, while better integrating it within the EU energy market.

    ‘Today, with the support of the EIB, we take another step forward in this project, a bridge between nations and key for European cohesion that will enable us to tackle the greatest challenge of our time: the energy transition. That is why both countries must continue to work together to strengthen our connections, also through the two new projects planned to cross the Pyrenees’, said Beatriz Corredor, chairwoman of Redeia

    “Today is a major milestone for the Bay of Biscay project, which will increase the solidarity between France and Spain but will also contribute to the development of exchanges of low-carbon, competitive electricity throughout Europe. Along with EU institutions – such as EIB – and other European TSOs, RTE is committed to ensure that the French power grid is fit to play its role of a European electricity crossroads, including through major reinforcement projects to avoid internal constraints, as laid out in our recent grid development strategy’, said Thomas Veyrenc, Member of the Executive Board, Director general for finance, strategy and economics of RTE.

    The project reinforces the EIB´s role as the climate bank one of the EIB Group’s eight strategic priorities set out in its Strategic Roadmap for the years 2024-2027. The operation is also part of the EIB’s action plan supporting REPowerEU, the program to increase energy security and accelerate the energy transition by reducing the European Union’s dependence on fossil fuel imports.

    Marc Ferracci, French minister for industry and energy: “We’re very happy today to have signed the first part of the investment in this interconnection project between France and Spain which will go through the Bay of Biscay. This will allow us to double the capacity of electricity transported between the two countries with 400 km of connection. It’s very important because it illustrates the will of Spain and France to go further in the decarbonisation of our economies. And it shows the solidarity that exists to meet Europe’s energy security challenge.”

    “The signing of this agreement marks a major step towards building the Energy Union and strengthening the resilience of the European electricity system as a whole. I am confident that it will not be the last”, said Miguel González Suela, Spanish deputy secretary of State for Ecological Transition and the Demographic Challenge.

    Flagship project

    The Bay of Biscay interconnection is classified by the EU as a Project of Common Interest or PCI, and is being delivered by Inelfe a joint venture between Red Eléctrica and Réseau transport d’électricité. It is co-funded by a Connecting Europe Facility (CEF) grant of €578 million.  

    The connection will link two alternating current systems via a submarine direct current line. At each end of the connection, stations in Cubnezais in France and Gatika in Spain will convert the direct current into alternating current for connection to the transmission grids of Spain and France.

    The design of the project has been developed through an open and participatory process, with the aim of reaching the greatest possible consensus and ensuring the best solution from a technical, social, and environmental perspective.

    The High-Level Group on Interconnections in South-West Europe, established in 2015 between Spain, France, and Portugal with the support of the European Commission, played a critical role in advancing the Biscay Bay project.

    More information about the project is available here.

    The EIB as a major financier of energy security and grids in Europe

    In 2024, the EIB Group signed a record €31 billion to back EU energy security, including for efficiency, renewables, storage and electricity grids, which is expected to support over €100 billion in investment. A total of €8.5 billion financed electricity grids and storage projects, double the amount from previous year. This financing is helping to expand, modernise and digitalise electricity grids making them more resilient and allowing for more and better integration of renewable sources.

    In Spain financing of energy security projects was higher than in any other EU country in 2024, totalling more than €5 billion, which is expected to support over €15 billion in investment. A total of €1.54 billion financed grids and storage projects, roughly double the previous year’s amount. In France financing of energy security projects in 2024 was in line with previous years at around €3.6 billion,  of which €400 million went to finance grids and storage projects, while €3.2 billion went to other energy projects including renewable energy sources and  energy efficiency.

    In the last 5 years (2019-24), EIB has financed €16.7 billion in energy projects in Spain, and €17.7 billion in energy projects in France.

    Find out more about the EIB’s support for the energy sector here.

    Background information

    EIB

    The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

    The EIB Group, which also includes the European Investment Fund, signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

    All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

    In Spain, in 2024, the EIB Group signed new financing worth €12.3 billion for over 100 high-impact projects,  while in France, the EIB Group signed new financing worth €12.6 billion also for over 100 high-impact projects,  contributing to both countries’ green and digital transition, economic growth, competitiveness and better services for their people.

    High-quality, up-to-date photos of our headquarters for media use are available here.

    Red Eléctrica

    Red Eléctrica is the transmission system operator (TSO) for the Spanish electricity system and Redeia’s flagship. Since 1985, Red Eléctrica guarantee the security of supply in Spain, driving its social and economic development. Now, the company is also the backbone of the energy transition in the country. www.ree.es 

    Réseau Transport d’Électricité

    The French electricity-transmission-system operator, RTE, provides a public service: guaranteeing a constant supply of electricity throughout France, with the same standard of service, thanks to the efforts of its 10,025-strong staff. RTE manages electricity flows, balancing production and consumption in real time. RTE maintains and develops the high and very-high voltage grid (from 63,000 to 400,000 volts) which includes nearly 100,000 kilometres of overhead lines, 7,000 kilometres of underground lines, 2,900 operational substations, some jointly operated, and around fifty cross-border lines. With 37 interconnections with neighbouring countries, the French grid is the largest in Europe. RTE is an independent and neutral industrial operator of the energy transition, optimising and transforming its grid to connect new consumers and low-carbon electricity generation facilities.

    MIL OSI Europe News –

    June 16, 2025
  • MIL-OSI Africa: President in Canada for G7 Leaders’ Summit

    Source: South Africa News Agency

    President Cyril Ramaphosa has arrived in Canada to participate in the G7 Summit Outreach Session, scheduled to take place on the margins of the G7 Leaders’ Summit in Kananaskis, Alberta, Canada on Monday.  

    The Group of Seven consists of the largest advanced economies namely: Canada, France, Germany, Italy, Japan, the United Kingdom and the United States. The European Union also participates in G7 Summits.  

    Canada assumed the Presidency of the G7 on 01 January 2025 and its Presidency seeks to address global challenges and opportunities, including international peace and security, global economic stability and growth, and the digital transition.

    According to the Presidency, the Outreach Session aims “to explore leadership and collaboration in driving a comprehensive approach to energy security with a focus on technology and innovation; diversification and strengthening critical mineral supply chains; and infrastructure and investment”.

    The Presidency said this resonated with South Africa’s national interests and priorities of South Africa’s G20 Presidency.  

    “The Outreach Sessions of the G7 in which President Ramaphosa will participate have been a feature of the group over the years, with the aim to strengthen unity among G7 members and like-minded countries to deliberate on and address some of the world’s most pressing issues.

    “Reflecting the outward looking approach of recent Presidencies, guest leaders are invited to join Outreach Sessions within the Summit agenda,” it said.

    The cooperation between South Africa and Canada has strengthened this year as it relates to G20 and G7.

    Under South Africa’s G20 Presidency, enhanced efforts have been undertaken to align objectives and support the agenda of the G7 to that of the G20.

    Several engagements have taken place between South Africa and Canada at various levels, including at Sherpa and Ministerial levels.

    South Africa is currently the only African country invited to this year’s G7 Summit Outreach Session.

    The Presidency said the G7 Summit will provide President Ramaphosa with an opportunity to meet Heads of State and Government of G7 countries, who are also G20 members, and other outreach guest countries.

    “The President will use this platform as an opportunity to engage with various leaders on areas of common interest in bilateral relations and multilateral cooperation – including the G20 Presidency ahead of the G20 Leaders’ Summit in November 2025.”

    President Ramaphosa’s participation at the G7 Leaders Summit presents an opportunity for South Africa to pursue strategic alignment within the framework of G7-G20 cooperation, where necessary, the Presidency added.

    The President is accompanied by the Minister of International Relations and Cooperation, Ronald Lamola. – SAnews.gov.za

    MIL OSI Africa –

    June 16, 2025
  • MIL-OSI Asia-Pac: President Lai meets delegation led by Representative Bera, co-chair of US Congressional Taiwan Caucus

    Source: Republic of China Taiwan

    Details
    2025-06-13
    President Lai meets delegation led by French National Assembly Taiwan Friendship Group Chair Marie-Noëlle Battistel
    On the morning of June 12, President Lai Ching-te met a delegation led by Marie-Noëlle Battistel, chair of the French National Assembly’s Taiwan Friendship Group. In remarks, President Lai thanked the National Assembly for its long-term support for Taiwan’s international participation and for upholding security in the Taiwan Strait, helping make France the first major country in the world to enact legislation to uphold freedom of navigation in the Taiwan Strait. The president also said that exchanges and cooperation between Taiwan and France are becoming more frequent, and that he hopes this visit by the Taiwan Friendship Group will inject new momentum into Taiwan-France relations and help build closer partnerships in the economy, trade, energy, and digital security.  A translation of President Lai’s remarks follows: First, I would like to welcome Chair Battistel, who is once again leading a visiting delegation. Last year, Chair Battistel co-led a delegation to attend the inauguration ceremony for myself and Vice President Bi-khim Hsiao. This is her fourth visit, and first as chair of the Taiwan Friendship Group, which makes it especially meaningful. This delegation’s visit demonstrates strong support for Taiwan, and on behalf of the people of Taiwan, I want to express my sincerest welcome and thanks. France is a pioneer in promoting free and democratic values. These are values that Taiwan cherishes and is working hard to defend. I want to express gratitude to the French Parliament for their long-term support for Taiwan’s international participation, and for upholding security in the Taiwan Strait. The French Parliament’s two chambers have continued to strongly support Taiwan, with the passage of a resolution supporting Taiwan’s participation in international organizations in 2021, as well as the passage of the seven-year Military Programming Law in 2023. This has made France the first major country in the world to enact legislation to uphold freedom of navigation in the Taiwan Strait. Through it all, the Taiwan Friendship Group has played a key role, and I want to thank all of our distinguished guests for their efforts. Over the past few years, Taiwan and France have continued to deepen cooperation in areas including the economy, technology, culture, and sports. At the Choose France summit held in Paris last month, Taiwanese and French enterprises also announced they will launch cooperation in the semiconductor and satellite fields. The VivaTech startup exhibition, now being held in France, also has many Taiwanese vendors participating. Exchanges and cooperation between Taiwan and France, whether official or people-to-people, are becoming more and more frequent. I hope that this visit by the Taiwan Friendship Group will inject new momentum into Taiwan-France relations, building closer partnerships in the economy, trade, energy, and digital security.  To address current geopolitical and economic challenges, Taiwan will continue to join forces with France and other like-minded countries to jointly safeguard peace and stability in the Indo-Pacific region, and contribute our concerted efforts to global prosperity and development. Once again, I want to welcome our visitors to Taiwan. I hope to continue our joint efforts to create a more prosperous future for both Taiwan and France.   Chair Battistel then delivered remarks, thanking President Lai for extending this invitation. Last year on May 20, she said, she and her delegation attended the presidential inauguration ceremony, so she was delighted to visit Taiwan once again with the French National Assembly’s Taiwan Friendship Group and bear witness to their friendship with Taiwan. Chair Battistel noted that this visit has given them an opportunity to strengthen Taiwan-France relations in areas including the economy, culture, the humanities, and diplomacy, and conduct exchanges with numerous heads of government agencies and research institutes. It has also been an opportunity, she said, to witness the importance of exchanges and cooperation with Taiwan in areas including energy, semiconductors, youth, and culture, and the impact created by important issues of mutual concern, including AI and disinformation, on the security of many countries. Chair Battistel praised Taiwan for its youth development efforts, and said that under the Taiwan Global Pathfinders Initiative, 30 Taiwanese young people have embarked on a visit to France, with itineraries including the United Nations Ocean Conference and the VivaTech exhibition, as well as the city of Toulouse, which is strategically important for the aerospace industry. Members of the group are also conducting exchanges at the French National Assembly, she said.  Chair Battistel stated that the Taiwan-France partnership is growing closer, and that she hopes to continue to strengthen bilateral exchanges and cooperation, as supporting peace for Taiwan supports peace around the world.  The delegation also included Taiwan Friendship Group Vice Chair Éric Martineau, as well as National Assembly Committee on Foreign Affairs Vice Chair Laetitia Saint-Paul and Deputies Marie-José Allemand and Claudia Rouaux. The delegation was accompanied to the Presidential Office by French Office in Taipei Deputy Director Cléa Le Cardeur.

    Details
    2025-06-05
    President Lai hosts state banquet for President Bernardo Arévalo of Republic of Guatemala  
    At noon on June 5, President Lai Ching-te hosted a state banquet at the Presidential Office for President Bernardo Arévalo of the Republic of Guatemala and his wife. In his remarks, President Lai noted that Taiwan and Guatemala have both undergone an arduous democratization process, and therefore, in face of the continuous expansion of authoritarian influence, must join hands in brotherhood and come together in solidarity to safeguard our hard-earned freedom and democracy. President Lai also expressed hope that both countries will work together and continue to deepen various exchanges and cooperation, taking a friendship that has lasted over 90 years to new heights. A translation of President Lai’s remarks follows: Once again, I would like to offer a warm welcome to President Arévalo and First Lady Lucrecia Peinado, who are leading this delegation to Taiwan. President Arévalo’s previous visit to Taiwan was 31 years ago. Back then, Taiwan did not have direct presidential elections, and the nation was continuing to make progress toward democratization. Today, 31 years later, Taiwan has conducted direct presidential elections eight times, with three transfers of power between political parties. On this visit, I am sure that President Arévalo will gain a deep appreciation for Taiwan’s free and democratic atmosphere.  Taiwan and Guatemala have both undergone an arduous democratization process. A little over 200 years ago, the people of Guatemala took a stand against colonial oppression, seeking national dignity and the freedom of its people. Eighty-one years ago, President Arévalo’s father, Juan José Arévalo, became Guatemala’s first democratically elected president, establishing an important foundation for subsequent democratic development.  Our two peoples have democracy in their blood. Both know the value of freedom and democracy and are willing to take a stand for those values. Therefore, in face of the continuous expansion of authoritarian influence, our two countries must join hands in brotherhood to respond to threats and challenges, and come together in solidarity to safeguard our hard-earned freedom and democracy. I hope that both countries will work together to continue to deepen various exchanges and cooperation, taking a friendship that has lasted over 90 years to new heights. I hope that on this visit, in addition to gaining a deeper understanding of Taiwan’s political, economic, and social development, President Arévalo can also reacquaint himself with the democratic vitality and cultural diversity of Taiwan by sampling various gourmet delicacies and once again experiencing the beauty of our scenery and warmth of our people. Guatemala is a very beautiful country. In the future, I hope to have a chance to personally experience that beauty, explore Mayan civilization, and savor local Guatemalan coffee. In closing, I wish the visiting delegation a smooth and successful trip, and beautiful, unforgettable memories. May President Arévalo enjoy the best of health, and may the diplomatic friendship between our two countries endure. President Arévalo then delivered remarks, stating that at different times and by different means, the people of Taiwan and Guatemala have relentlessly sought to defend freedom and democracy. We share the same expectations, he said, and are walking the right path amid today’s complex international circumstances.  President Arévalo stated that Taiwan and Guatemala are true democratic nations, where the government’s goal is to serve all the people. He noted that this is far from easy under current circumstances, as many authoritarian regimes use their long-term hold on power to safeguard the interests of select groups and neglect the wellbeing of the population as a whole. President Arévalo said that last week Guatemala commemorated the 40th anniversary of its constitution, which was enacted in 1985 and is Guatemala’s ultimate guide, setting the foundation for democracy and clearly outlining the path ahead. He said that over the past 40 years, Guatemala has continued to follow the democratic blueprint established by the constitution and end the civil war so that the nation could make the transition to real democracy. Although more than a few ambitious people have attempted to destroy that process from within, he noted, the people of Guatemala have never given up the pursuit of democracy as an ideal. President Arévalo stated that our two sides’ coming together here is due to such shared values as freedom and democracy as well as the idea of serving all the people. He underlined that the governments of both countries will continue to work hard and provide mutual support to smooth out each other’s path of democracy, freedom, and justice. President Arévalo emphasized that the government of Guatemala will always be Taiwan’s ally, and that he firmly believes Taiwan is Guatemala’s most reliable partner on the path of democracy and economic prosperity and development. The president said he hopes this visit will be the first step towards setting a new course for the governments and peoples of both countries. Also in attendance at the banquet were Guatemala Minister of Foreign Affairs Carlos Ramiro Martínez, Minister of the Economy Gabriela García, and Guatemala Ambassador Luis Raúl Estévez López.  

    Details
    2025-06-05
    President Lai welcomes President Bernardo Arévalo of Republic of Guatemala with military honors  
    On the morning of June 5, President Lai Ching-te welcomed with full military honors President Bernardo Arévalo of the Republic of Guatemala and his wife, who are leading a delegation of cabinet members visiting Taiwan for the first time, demonstrating the deep and enduring alliance between our nations. In remarks, President Lai noted that over the past few years, bilateral cooperation between Taiwan and Guatemala has grown closer and more diverse, and said that moving forward, based on a foundation of mutual assistance for mutual benefit, we will continue to promote programs in line with international trends, spurring prosperity and development in both our nations. The military honors ceremony began at 10:30 a.m. in the Entrance Hall of the Presidential Office. After a 21-gun salute and the playing of the two countries’ national anthems, President Lai and President Arévalo each delivered remarks. A translation of President Lai’s remarks follows: Today, President Arévalo and First Lady Lucrecia Peinado are leading a delegation of cabinet members visiting Taiwan for the first time, demonstrating the deep and enduring alliance between our nations. On behalf of the people and government of the Republic of China (Taiwan), I want to extend my sincerest welcome. Last year, our two countries celebrated the 90th anniversary of diplomatic ties, providing mutual support all along the way. Especially over the past few years, bilateral cooperation has grown closer and more diverse. We have a long record of remarkable results, whether in terms of medicine and public health, education and culture, technological cooperation, or economic and trade exchanges. Moving forward, based on a foundation of mutual assistance for mutual benefit, Taiwan and Guatemala will continue to promote programs in line with international trends. We will continue to strengthen exchange and cooperation for young people, as well as scholarship programs, and actively cultivate high-tech and information and communications technology industry talent, spurring prosperity and development in both our nations. Although separated by a great distance, the peoples of both countries are closely connected by their ideals and values. I am confident that with President Arévalo’s support, bilateral exchanges and cooperation will become closer and more diverse, beginning a very promising new chapter. I wish the visiting delegation a smooth and successful trip. President Arévalo then delivered remarks, saying that on behalf of the government and people of Guatemala, he is honored to visit the Republic of China (Taiwan), this beautiful nation, and to receive full military honors, which reflects the mutual respect between our two nations as well as our solid friendship. Especially as this state visit comes as we celebrate 90 years of formal diplomatic ties, he said, he has brought the foreign minister, economics minister, private secretary to the president, and social communication secretary as members of his delegation, in the hope of our ties embarking on a new chapter. President Arévalo said that Guatemala-Taiwan ties have in recent years been growing steadily on a foundation of mutual understanding and cooperation, making significant progress, and that our peoples have also cultivated sincere friendships and cooperative relationships across many fields. Our nations are especially promoting public health, education, agricultural technology, and infrastructure, he said, key fields which are conducive to economic and social development. He expressed his hope that on such good foundations of the past, we can further strengthen our bilateral ties for the future. President Arévalo stated that through this state visit they not only want to reaffirm the good bilateral ties between our nations, but that they also hope to define a trajectory for the future of our cooperation in the direction of expanding economic cooperation, building economic and trade alliances, and facilitating investment to foster a Taiwan-Guatemala relationship that benefits both peoples. He then expressed gratitude to the people of Taiwan for helping Guatemala over the past 90 years and reaffirmed the unwavering support of Guatemala for the Republic of China (Taiwan). On the occasion of this visit, he said, he hopes to extend a friendly hand to the people of Taiwan, adding that he looks forward to our nations continuing to take major steps forward on the road of mutual assistance and prosperity. Also in attendance at the welcome ceremony were Dean of the Diplomatic Corps and Saint Vincent and the Grenadines Ambassador Andrea Clare Bowman, and members of the foreign diplomatic corps in Taiwan.  

    Details
    2025-06-03
    President Lai confers decoration on President Hilda C. Heine of Republic of the Marshall Islands, hosts state banquet  
    At noon on June 3, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, conferred a decoration upon President Hilda C. Heine of the Republic of the Marshall Islands, and hosted a state banquet for President Heine and her husband at the Presidential Office. In remarks, President Lai thanked President Heine for her commitment to deepening the diplomatic partnership between our nations and speaking up for Taiwan in the international arena. He also expressed hope for Taiwan and the Marshall Islands to work together to address various challenges through an even greater diversity of exchanges, and that together, we can contribute even more to peace, stability, and development throughout the Pacific region. At the decoration ceremony, President Lai personally conferred the Order of Brilliant Jade with Grand Cordon on President Heine before delivering remarks, a translation of which follows:  The Marshall Islands was the first Pacific ally that I visited after taking office as president. When I arrived there, I was immediately drawn to its beautiful scenery. And I received a very warm welcome from the local people. This gesture showed the profound friendship between our two nations. I was truly touched. I also remember trying your nation’s special Bob Whisky for the first time. The flavor was as unique and impressive as the landscape of the Marshall Islands.  In addition to welcoming our distinguished guests today, we also presented President Heine with the Order of Brilliant Jade with Grand Cordon. On behalf of the people of Taiwan, I want to thank President Heine for her commitment to deepening the diplomatic partnership between our nations, and for staunchly speaking up for Taiwan in the international arena. Both I and the people of Taiwan are profoundly grateful to President Heine for her friendship and support. Over the past few years, cooperation between Taiwan and the Marshall Islands has grown ever closer. And this visit by our distinguished guests will allow our two countries to further expand areas of bilateral exchange. I have always believed that only through mutual assistance and trust can two countries build a longstanding and steadfast partnership. I once again convey my sincere aspiration that Taiwan and the Marshall Islands work together to address various challenges through an even greater diversity of exchanges. Together, we can contribute even more to peace, stability, and development throughout the Pacific region. In closing, I want to thank President Heine and First Gentleman Thomas Kijiner, Jr. for leading this delegation to Taiwan, which deepens the foundations of our bilateral relationship. May our two nations enjoy a long and enduring friendship. President Heine then delivered remarks, stating that she felt especially privileged to receive the Order of Brilliant Jade with Grand Cordon of the Republic of China (Taiwan), and humbly accepted the honor with the utmost gratitude, humility, and deep responsibility. This is a deep responsibility, she said, because she understands that since its inception in 1933, this order has been bestowed upon a select few. She then thanked President Lai for this great honor. President Heine stated that the banquet was not just a celebration of our bilateral friendship, but a true reflection of the generosity of the Taiwan spirit and a testament to the enduring ties between our nations, founded on shared values and aspirations, including a respect for the rule of law, the preservation of human dignity, and a deep commitment to democracy. President Heine stated that the Taiwan-Marshall Islands partnership continues to evolve through practical cooperation and mutual support. In recent years, she said, our countries have worked hand in hand across a range of vital sectors, including the recent opening of the Majuro Hospital AI and Telehealth Center and the ongoing and successful Taiwan Health Center, various technical training and scholarship programs, and various climate change adaptation projects in renewable energy, coastal resilience, and sustainable agriculture.   President Heine emphasized that the Marshall Islands continues to be a proud and vocal supporter of Taiwan’s meaningful participation in the United Nations system and other international organizations. Taiwan’s exclusion from these platforms, she said, is not only unjust, but is bad for the world, and the global community needs Taiwan’s voice and expertise.  President Heine also expressed sincere appreciation to all of the Taiwanese friends who have contributed their efforts to deepening bilateral relations, including government officials, healthcare workers, teachers, engineers, and volunteers. The people of the Marshall Islands, she said, deeply appreciate and value everyone’s efforts and service. President Heine said that as we celebrate our partnership, let us look to the future with hope and determination, continue to work together, learn from one another, and support one another to champion a world where all nations can chart their own course based on peace and international law. Also attending the state banquet were Marshall Islands Council of Iroij Chairman Lanny Kabua, Minister of Foreign Affairs and Trade Kalani R. Kaneko, Minister of Finance David Paul, Nitijela Standing Committee on Foreign Affairs and Trade Chairperson Joe Bejang, and Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands.  

    Details
    2025-06-03
    President Lai and President Hilda C. Heine of Marshall Islands hold bilateral talks and witness signing of agreements
    On the morning of June 3, President Lai Ching-te, accompanied by Vice President Bi-khim Hsiao, held bilateral talks with President Hilda C. Heine of the Republic of the Marshall Islands at the Presidential Office following a welcome ceremony with military honors for her and her husband. The leaders also jointly witnessed the signing of a letter of intent for sports exchanges and a memorandum of understanding regarding the Presidents’ Scholarship Fund. President Lai then presided over a launch ceremony for a loan program to purchase aircraft. In remarks, President Lai thanked the government and the Nitijela (parliament) of the Marshall Islands for their longstanding support for Taiwan’s international participation and for voicing staunch support for Taiwan at numerous international venues. President Lai said that Taiwan looks forward to continuing to deepen its diplomatic partnership with the Marshall Islands and build an even closer cooperative relationship across a range of fields, engaging in mutual assistance for mutual benefits and helping each other achieve joint and prosperous development to yield even greater well-being for our peoples. A translation of President Lai’s remarks follows: I once again warmly welcome President Heine, First Gentleman Thomas Kijiner, Jr., and our guests to Taiwan. During my visit to the Marshall Islands last year, I said that Taiwan and the Marshall Islands are truly a family. When Vice President Hsiao and I took office last year, President Heine led a delegation to Taiwan. It is now one year since our inauguration, and I am delighted to see President Heine once again, just as if I were seeing family arrive from afar. Through my visit to the Marshall Islands, I gained a profound sense of the friendship between the peoples of our two nations, well-demonstrated by bilateral exchanges in such areas as healthcare, agriculture, and education. And it is thanks to President Heine’s longstanding support for Taiwan that our countries have been able to further advance collaboration on even more issues, including women’s empowerment and climate change. In recent years, the geopolitical and economic landscape has changed rapidly. We look forward to Taiwan and the Marshall Islands continuing to deepen our partnership and build an even closer cooperative relationship. In just a few moments, President Heine and I will witness the signing of several documents, including a memorandum of understanding and a letter of intent, to expand bilateral cooperation in such fields as sports, education, and transportation. Taiwan will take concrete action to work with the Marshall Islands and advance mutual prosperity and development, writing a new chapter in our diplomatic partnership. I would also like to take this opportunity to express gratitude to the government and Nitijela of the Marshall Islands. In recent years, the Nitijela has passed annual resolutions backing Taiwan’s international participation, and President Heine and Marshallese cabinet members have been some of the strongest advocates for Taiwan’s international participation, voicing staunch support for Taiwan at numerous international venues. Building on the pillars of democracy, peace, and prosperity, Taiwan will continue to work with the Marshall Islands and other like-minded countries to deepen our partnerships, engage in mutual assistance for mutual benefits, and help one another achieve joint and prosperous development. I have every confidence that the combined efforts of our two nations will yield even greater well-being for our peoples and see us make even more contributions to the world. President Heine then delivered remarks, and began by conveying warm greetings of iokwe from the people and government of the Republic of the Marshall Islands to the people and government of the Republic of China (Taiwan). She said she was deeply honored to be in Taiwan for an official visit, and extended appreciation to President Lai and his government for their gracious invitation and warm welcome. President Heine stated that this year marks 27 years of diplomatic ties between our two nations, and that they are proud of this enduring friendship. This special and enduring relationship, she said, is grounded in our shared Austronesian heritage, and strengthened by mutual respect for each other’s democratic systems and our steadfast commitment to the core values of freedom, justice, and the rule of law. President Heine stated that Taiwan’s continued support has been invaluable to the people and national development of the Marshall Islands, particularly in the areas of health, education, agriculture, and climate change. She also expressed deep appreciation to Taiwan for providing Marshallese students with opportunities to study in Taiwan, and for the care extended to Marshallese who travel here for medical treatment. President Heine also announced that she would be presenting a copy of a resolution by the people and government of the Republic of the Marshall Islands reiterating their appreciation for the support provided by the people and government of the Republic of China (Taiwan), and calling on the United Nations to take immediate action to resolve the inappropriate exclusion of Taiwan’s 23 million people from the UN system. She added that she looked forward to the bilateral discussions later that day, and to continuing the important work that both countries carry out together. After the bilateral talks, President Lai and President Heine witnessed the signing of a letter of intent regarding sports exchanges and a memorandum of understanding regarding the Presidents’ Scholarship Fund by Minister of Foreign Affairs Lin Chia-lung (林佳龍) and Marshallese Minister of Foreign Affairs and Trade Kalani R. Kaneko. President Lai then presided over a launch ceremony for a loan program to purchase aircraft, marking the formal beginning of Taiwan-Marshall Islands air transport cooperation. The visiting delegation also included Council of Iroij Chairman Lanny Kabua, Minister of Finance David Paul, and Nitijela Standing Committee on Foreign Affairs and Trade Chair Joe Bejang. They were accompanied to the Presidential Office by Charge d’Affaires a.i. Anjanette Davis-Anjel of the Embassy of the Republic of the Marshall Islands.

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News –

    June 16, 2025
  • MIL-OSI Economics: Lufthansa Group Airlines optimize the travel experience through digital functions

    Source: Lufthansa Group

    Just in time for the summer, Lufthansa Group Airlines has further optimized the travel experience for its passengers with additional digital functions. The Lufthansa Group app, which has been named the best airline app worldwide, serves as a digital companion throughout the entire journey, from booking to arrival and beyond.

     “We are there for our customers and provide them with an all-round service throughout their flight – supported by digital functions. For example, our guests can now plan their trip even more easily and flexibly and count on comprehensive support in the event of last-minute changes,” emphasizes Dieter Vranckx, Chief Commercial Officer of the Lufthansa Group. “I particularly recommend that our passengers create a Travel ID profile. This offers them many advantages and helps to make their journey even more comfortable. With the new digital services, we offer them an optimized travel experience and support them at every stage of their journey.”

     

    The digital innovations at a glance:

    Lufthansa Group app receives further functions

    The Lufthansa Group app now includes even more functions that increase the travel comfort of all passengers. Lufthansa Group customers can now enjoy new, innovative tools, especially when preparing for their trip, starting with a significantly faster flight search and a smoother booking experience.

    In this context, customers are recommended to install the Lufthansa Group Airlines app and create a Travel ID profile. The Travel ID helps to make travel easier: among other things, it is possible to integrate travel documents and save personal data for future and past bookings. Further services will follow gradually. In addition, the Travel ID provides travelers with personalized information and suggested solutions should their original travel plans change unexpectedly. More than 15 million customers have already created a digital profile.

    To make traveling to the USA even more relaxed, the ESTA travel authorization is now already checked during online check-in – and the app’s passport scan has also been further improved. In addition, the passport is simply and conveniently loaded into the app during check-in. This data is also checked in the process. The website also offers a new service with information on entry guidelines and passport or visa requirements for international travel, stored in the Travel ID.

    Status, Business and First Class guests can use the app to quickly and conveniently find their preferred Lufthansa Group lounge nearby – whether in Frankfurt, New York, or Rio de Janeiro. In addition, digital menu cards and e-journals are available to travelers before the flight. Finally, the booking confirmation has also been revised and now appears in a new look.

     

    If something changes

    With the introduction of innovative self-service options, travelers can now adjust their plans more easily and flexibly. Guests whose travel plans have changed can easily and conveniently rebook themselves (in accordance with the fare conditions) on the familiar digital channels such as the Lufthansa Group app – even if they have an existing seat reservation. Passengers who have booked a seat in the new Allegris First and Business Class cabins will automatically receive a refund of the reservation fee in the event of an aircraft change if the selected seat category is no longer available.

    Also practical and available as a service in the app since March: Passengers can cancel the ticket for a single person from a booking for several people and have the individual booking refunded in accordance with the fare conditions. The website also offers a new service with information on entry regulations and passport or visa requirements for international travel. In addition, sports baggage and pets in the cabin can now also be booked quickly and conveniently online.

     

    In the event of flight irregularities and delayed baggage

    Passengers whose seat reservation cannot be maintained due to a change of aircraft will be actively rebooked to a new seat and informed of the seat change. Customers can then change their seat online. From the summer, passengers who have to spend a night in a hotel due to a flight irregularity will also automatically receive a taxi voucher by email or in the app.

    In addition, travelers with an AirTag can now use AirTag Location to securely share the location of their baggage with the baggage tracing system via the familiar digital channels, thereby speeding up delivery in the event of baggage delays. This expands the baggage status information options already available to Lufthansa Group guests in the airline apps.

    If passengers wish to submit suggestions or a compensation claim, Lufthansa Group Airlines is now offering new and improved online forms that automatically check the entries for any discrepancies and thus enable faster processing.

     

    Help Center advises travelers with service requests

    The Help Center, which via the mark symbol can be accessed on the Lufthansa Group websites and airline apps, provides travelers with targeted advice on their service requests and now offers holistic, individualized solutions with the help of artificial intelligence. Passengers with urgent requests, such as a flight within the next eight hours, are given priority support in the personal Service Center. The AI chat assistant, which can resolve many service requests, is available in German, English, Italian, French and Spanish.

    MIL OSI Economics –

    June 16, 2025
  • Nvidia’s pitch for sovereign AI resonates with EU leaders

    Source: Government of India

    Source: Government of India (4)

    Nvidia NVDA.O CEO Jensen Huang has been pitching the idea of “sovereign AI” since 2023. Europe is now starting to listen and act.

    The concept is based on the idea that the language, knowledge, history and culture of each region are different, and every nation needs to develop and own its AI.

    Last week, the CEO of the artificial-intelligence chipmaker toured Europe’s major capitals – London, Paris and Berlin – announcing a slew of projects and partnerships, while highlighting the lack of AI infrastructure in the region.

    In a place where leaders are increasingly wary of the continent’s dependency on a handful of U.S. tech companies and after drawing ire from the U.S. President Donald Trump, his vision has started to gain traction.

    “We are going to invest billions in here … but Europe needs to move into AI quickly,” Huang said on Wednesday in Paris.

    On Monday of last week, British Prime Minister Keir Starmer announced 1 billion pounds ($1.35 billion) in funding to scale up computing power in a global race “to be an AI maker and not an AI taker.”

    French President Emmanuel Macron called building AI infrastructure “our fight for sovereignty” at VivaTech, one of the largest global tech conferences.

    After Nvidia laid out plans to build an AI cloud platform in Germany with Deutsche Telekom DTEGn.DE, German Chancellor Friedrich Merz called it an “important step” for the digital sovereignty and economic future of Europe’s top economy.

    Europe lags behind both the U.S. and China as its cloud infrastructure is mostly run by Microsoft MSFT.O, Amazon AMZN.O and Alphabet’s GOOGL.O Google, and it has only a few smaller AI companies such as Mistral to rival the U.S. ones.

    “There’s no reason why Europe shouldn’t have tech champions,” said 31-year-old Mistral CEO Arthur Mensch, sitting beside Huang, who has led Nvidia for more than three decades, at a panel at VivaTech.

    “This is a gigantic dream.”

    GIGAFACTORY PLANS UNLEASHED

    In France, Mistral has partnered with Nvidia to build a data centre to power the AI needs of European companies with a homegrown alternative.

    It will use 18,000 of the latest Nvidia AI chips in the first phase, with plans to expand across multiple sites in 2026.

    In February, the European Union announced plans to build four “AI gigafactories” at a cost of $20 billion to lower dependence on U.S. firms.

    The European Commission has been in touch with Huang and he had told the EU executive that he was going to allocate some chip production to Europe for these factories, an EU official told Reuters.

    Nvidia’s chips known as Graphics Processing Units or GPUs are crucial for building AI data centres from the U.S. to Japan and India to the Middle East.

    In Europe, a push for sovereign AI could reshape the tech landscape with domestic cloud providers, AI startups, and chipmakers standing to gain from new government funding and a shift toward in-region data infrastructure.

    Nvidia also wants to cement demand for its AI chips, ensuring that even as countries seek independence, they still rely on its technology to get there.

    POWER COSTS

    The push is not without challenges.

    High electricity costs and rising demand could strain sourcing of electricity for data centres. Data centres account for 3% of EU electricity demand, but their consumption is expected to increase rapidly this decade due to AI.

    Mistral, which has raised just over $1 billion, is trying to become a European homegrown champion with a fraction of the money U.S. hyperscalers or large data-centre operators spend in a month.

    “Hyperscalers are spending $10 billion to $15 billion per quarter in their infrastructure. Who in Europe can afford that exactly?” said Pascal Brier, chief innovation officer at Capgemini CAPP.PA, a partner of both Nvidia and Mistral.

    “It doesn’t mean we shouldn’t do anything, but we have to be cognizant about the fact that there will always be a gap.”

    Mistral has launched several AI models which are used by businesses but companies tend to mix them with models from other companies such as OpenAI, Anthropic and Meta Platforms META.O.

    “Most of the time it’s not Mistral or the rest, it’s Mistral and the rest,” Brier said.

    (Reuters)

    June 16, 2025
  • MIL-OSI Economics: Panasonic Connect Announces Personnel Changes of Leadership Team Members

    Source: Panasonic

    Headline: Panasonic Connect Announces Personnel Changes of Leadership Team Members

    The content in this website is accurate at the time of publication but may be subject to change without notice.Please note therefore that these documents may not always contain the most up-to-date information.Please note that German, French and Chinese versions are machine translations, so the quality and accuracy may vary.

    MIL OSI Economics –

    June 16, 2025
  • MIL-OSI China: PSG thrash Atletico Madrid 4-0 to kick off Club World Cup campaign

    Source: People’s Republic of China – State Council News

    Recently crowned Champions League winners Paris Saint-Germain opened their Club World Cup campaign with a commanding 4-0 victory over Atletico Madrid at the Rose Bowl in Pasadena on Sunday.

    The French side dominated the first half, and although Atletico improved slightly after the break, they created just one clear chance – which they missed – before PSG sealed the win in the closing minutes.

    “We had the objective of making history this season, but this is a new chapter,” PSG coach Luis Enrique said after the match.

    Paris Saint-Germain was without Ousmane Dembele and Bradley Barcola for the match, which kicked off under searing heat in a stadium with virtually no shade. Despite the absences, the European champions controlled the game from the start.

    Khvicha Kvaratskhelia posed a constant threat down the left and forced Atletico goalkeeper Jan Oblak into an early save before Fabian Ruiz broke the deadlock in the 19th minute.

    PSG had controlled possession in the opening stages, and Ruiz put justice to the scoreline with a low strike from the edge of the area that gave Oblak no chance.

    There was a nervous moment for PSG when Giuliano Simeone went down after tangling with Nuno Mendes. Mendes could have been in trouble as the last defender if a foul had been given, but the referee opted to play on.

    Desire Doue and Kvaratskhelia both had further chances as PSG varied the tempo against an Atletico side that struggled with the heat and pace.

    Antoine Griezmann had Atletico’s only chance of the first half in stoppage time, but after PSG failed to clear a rare attack, he fired straight at Gianluigi Donnarumma. The PSG keeper launched a rapid counterattack that ended with Vitinha doubling the lead, curling home a shot after being left unmarked.

    Atletico brought on Koke for Samuel Lino at halftime and looked to push forward, but PSG continued to threaten. Kvaratskhelia nearly added a third with a curling effort that Oblak tipped onto the bar.

    Julian Alvarez found the net for Atletico in the 57th minute, but the goal was disallowed for a clear prior foul by Koke. Their hopes of a comeback faded further when Clement Lenglet was sent off for a second yellow card – the first for a bad challenge, and the second for protesting a perceived foul on Oblak.

    Substitute Alexander Sorloth squandered a golden opportunity with 10 minutes remaining, firing over from four yards with the goal wide open. PSG then made it 3-0 in the 87th minute as Senny Mayulu turned and scored after Atletico failed to clear a cross.

    There was still time for a fourth, with Kang-In Lee converting a penalty in stoppage time after Robin le Normand handled a shot inside the box.

    “The club is hungry, the fans are hungry, the players and the team are hungry, and that’s a good feeling. We have the same objective as in other competitions, which is to go as far as possible and try to win it,” Enrique said.

    “The team competed, despite the tough defeat, and a 4-0 scoreline. We’re obliged to get good results in the other games now,” Atletico coach Diego Simeone said. 

    MIL OSI China News –

    June 16, 2025
  • MIL-OSI Europe: Luis de Guindos: Interview with Reuters

    Source: European Central Bank

    Interview with Luis de Guindos, Vice-President of the ECB, conducted by Balázs Korányi and Francesco Cánepa on 12 June 2025

    16 June 2025

    President Lagarde said the ECB was in a good place now. Investors and ECB watchers took that to mean a pause in rate cuts is appropriate. Was that the correct interpretation?

    The projections provide the key to understanding our policy decision. It’s almost a cliché now but the level of uncertainty is huge. So much so, we published alternative scenarios. The key differences in the scenarios relate to trade policy. In the baseline, we assume no retaliation and a 10% tariff. In the adverse scenario, we assume higher tariffs and retaliation.

    The final outcome in trade negotiations is by far the most relevant factor of uncertainty that we considered in our projections, which are the basis for our monetary policy decisions. Nobody knows the final outcome of the trade negotiations and the impact it may have on the outlook for growth and inflation.

    Having said that, markets have understood perfectly well what the President said about being in a good position. Even in this context of huge uncertainty, I think that markets believe and discount that we are very close to our target of sustainable 2% inflation over the medium term.

    Your projections incorporate interest rate futures, which still price in one more rate cut. So, if the baseline materialises, we can still expect a cut?

    We incorporate market expectations for interest rates into the underlying assumptions of our projection framework. But I think that, in this case, this assumption is not important compared with the consideration we give to trade issues in the June exercise. Trade has a greater magnitude of relevance in influencing our projections.

    Would you say that risks to the inflation outlook are to the upside or the downside?

    This is quite an important question. A tariff is a tax on imported goods. So the first impact is inflationary. But tariffs simultaneously depress demand, which can more than compensate for the initial inflationary impact. So, in the medium term, tariffs reduce both growth and inflation.

    But there is another factor that is more difficult to calibrate. A fully fledged trade war could give rise to fragmentation in the global economy and distortions in the global supply chain. And that would be inflationary in the longer term.

    So, with all these nuances, over the next two years tariffs would reduce both growth and inflation. But, if you look further out, you have to consider the potential impact that fragmentation could have. That goes beyond our projection horizon, but it is something that we will have to take into consideration in the future.

    You now project inflation dipping below target and then coming back to 2%. We’ve seen such a scenario before, when the longer-term projection always points to 2%, partly because of mean reversion. So, how much weight do you attach to the 2027 projection? And do you give a lot of thought to this notion of mean reversion as a feature at the back of the projection?

    When it comes to 2026, there are two key issues: the appreciation of the euro and the evolution of prices of raw materials, particularly energy. For 2027 a similar appreciation of the currency and a fall in energy prices is not expected to take place, and that is the reason why we expect inflation to come back up to 2%. But, of course, the level of uncertainty is huge. So, even though we are convinced that inflation will converge to our target, we need to stay data-dependent and decide meeting by meeting. Also, bear in mind that we have already reduced interest rates by 200 basis points – from 4% to 2%.

    The risk of undershooting in any year is that it influences wage-setting and could perpetuate low inflation. In the first quarter of next year, you see inflation at 1.4%. Do you consider undershooting a significant risk?

    I think inflation is going in the right direction. There is a clear deceleration, also confirmed by the latest data. But I don’t think that inflation hovering around 1.4% in the first quarter of 2026 is going to be enough to unanchor inflation expectations and modify the wage bargaining process. We clearly see that wage dynamics are cooling. But, even when you take all these factors into consideration, compensation per employee will be around 3% over time. So, the risk of undershooting is very limited in my view.

    Our assessment is that risks for inflation are balanced. Clearly, 1.4% is below target. But we look at the medium term, and in the medium term there are other factors that can compensate for the short-term elements that can temporarily bring inflation down.

    Europe is expected to spend more on defence. Do you think that greater military expenditure should come at the expense of other spending, or should it be financed from debt?

    A lot of uncertainty still surrounds our fiscal policy assumptions and projections. Trade is prominently in the news, but fiscal policy is often overlooked.

    First of all, fiscal policy in the United States is important. The new tax bill is going to increase the deficit, and the US fiscal position is already challenging. The debt ratio is over 100% and the fiscal deficit between 6% and 7%. So, markets are likely to start paying more attention to fiscal policy in the United States, which could give rise to increasing yields. I think this will catch the eye of markets more and more in the future.

    In the case of Europe, we have seen a degree of decoupling in terms of yields with respect to the United States. But developments have been much more moderate.

    Nevertheless, fiscal policy is relevant because there is an additional need to increase spending on defence, which is going to demand more resources. The starting point for some EU countries is not good. The EU does not have much fiscal space, so we have to look for social and political space in order to expand it.

    We will need to have more support from the people of Europe, and governments will have to explain clearly the necessity for higher spending on defence, because it’s a question of independence and autonomy.

    This extra spending may take some time to ramp up. Do you think ECB watchers or the ECB’s own projections overestimate how much fiscal support is coming?

    There are different fiscal multipliers, and much will depend on the kind of fiscal spending that countries are going to pursue. This kind of expenditure takes time to be implemented, so the impact on inflation and growth is not going to be material in the short term.

    Do you think the ECB can play a role in helping that defence spending, like with the targeted QE, targeted TLTRO, or some other tool?

    I can assure you that this is something that we have not discussed.

    We saw in the minutes of the Federal Reserve System’s May meeting that it had extended the swap line with the ECB. Nevertheless, given the political turmoil in the United States, do you think it would be a good exercise to look at scenarios in which US dollar funding dries up? Should the ECB be preparing the financial sector for such a scenario?

    We believe that swap lines with the Federal Reserve are a good instrument in terms of financial stability for both the euro area and the United States. We are fully convinced that the swap lines will be maintained over time because they are positive for both sides and for global financial stability.

    But markets are starting to openly doubt the status of the US dollar as the world’s leading reserve currency. And some central banks are even building up reserves in gold. Do you think it would be prudent for the ECB, and the Eurosystem more generally, also to start building up more gold reserves or reserves in assets other than US dollar-denominated assets?

    The weight of gold in our reserves has been on the increase clearly because of rising gold prices. Central banks use gold as an instrument to diversify in moments of geopolitical risk, and that is understandable. Some are even looking at silver or platinum to diversify.

    But the role of the US dollar as a reserve currency in the short term is not going to be challenged, in my opinion.

    The role of the euro as a reserve currency in the global arena will depend on actions taken in Europe. If we can achieve a much more integrated goods and services market, then the capital markets union and the banking union will come about much more easily. It’s very difficult to make progress in the capital markets union or the banking union if you do not advance in the integration of the goods and services market.

    You put out a report on the role of the euro last week, which covers basically to the end of last year. Can you provide us with a bit of insight on what’s been happening since 2 April. There’s been a lot of movement on financial markets. Have euro assets really benefited from capital leaving the US dollar, or is it mostly gold that has benefited?

    If you look at market developments, we had a big decline and a risk-off movement at the beginning of April. And now market valuations have fully recovered – apart from the US dollar and commodity prices.

    The policies of the new US Administration cover not only tariffs, but also fiscal policy and the regulatory frameworks for banks – in terms of the implementation of Basel III – and non-banks, and even for crypto assets. At the end of the day, this is a sort of change of paradigm. There have even been some doubts about how engaged the new US Administration is going to be with multilateral institutions.

    Even though markets have recovered, setting aside the US dollar and commodities, there is something that is quite obvious. The correlation of asset prices has changed quite a lot since April. If you look at developments in stock and bond prices, the correlation has been different from the ones we had in the past.

    Even in the case of yields on US Treasuries, we have seen ups and downs. But I think that the main element that indicates some doubts about the new US policies is the evolution of the US dollar. That’s quite clear.

    The flipside of that is that the euro has become stronger. Is it becoming an issue for growth and for exporters? Can the euro zone even afford reserve currency status given the currency strength that comes with it?

    I think that, at USD 1.15, the euro’s exchange rate is not going to be a big obstacle. And the question of the reserve status of the euro in the global arena is not going to have a significant impact in the short term.

    In the short term, the status of the US dollar is not going to be challenged. In the medium term, the factor that is going to be key is the kind of policy that we implement in Europe. If we are able to become more independent, more autonomous in defence, and we start to do what we have to do for the integration of markets… gradually, over the medium to long term, the euro will gain market share. But, in the short term, a big jump in market share is out of the question.

    So you don’t seem to be terribly concerned about USD 1.15 for the real economy. Accepting that you have no exchange rate target, what is the point where you become concerned that the exchange rate has a detrimental impact on the real economy?

    Much more than a specific level, I think that we have to look at the speed of developments, how rapid the appreciation or depreciation is. And if there is a clear overshooting of the exchange rate, that is something we should analyse.

    So far, the evolution has been quite controlled. Perhaps the surprise has been that, at the beginning of the year, most market participants believed that we could go to parity. And instead we have gone to the current level. I would not say that the exchange rate has been extremely volatile so far, or that we have seen a very rapid appreciation .

    We take the exchange rate into consideration in our projections. The perception of the ECB is that the appreciation of the euro has so far been positive in terms of achieving our target for inflation. That’s one of the reasons why we have revised our inflation projections down for 2026.

    A recent paper by Blanchard and Ubide has relaunched the idea of a European safe asset. You were on the other side of the fence when you were once a finance minister. Do you see growing chances of more joint issuance happening?

    Ideas coming from the academic sphere are very good. The one you mentioned is a very interesting proposal for a EU safe asset in a very liquid and deep market. That is something we have to take into consideration.

    But I think we have to do a lot of things before that. We need a much more integrated single market, and to make much more progress towards the capital markets union and the completion of the banking union. Simultaneously – and I feel we have made some progress here – we need the fiscal positions of euro area countries to be closer and disparities to be reduced.

    So it’s an interesting proposal from an academic standpoint. But I think that, from a practical viewpoint, there are other necessary conditions before we get there and these are not yet in place.

    Do you think it could be prudent for the ECB and the Eurosystem’s national central banks to bring back some of the gold reserves they store in New York?

    There is no doubt in my mind that they are totally safe.

    Even when a new Federal Reserve Chair will be appointed next year?

    Well, I don’t know who the next Chair is going to be, but I expect it will be a competent and sensible person.

    Fair enough. But has there been a discussion about this or didn’t it even come up?

    Even the possibility of it didn’t come up.

    Over the past few years, the ECB has learned some lessons, such as that you also have to react forcefully to inflation when it’s too high. This didn’t seem to be a problem a few years ago, yet all of a sudden it was. So, with that in mind, how would you like the new strategy document to reflect that?

    As you have said, the framework for inflation was totally different five years ago. And now we have had a period of high inflation, which was an important change.

    This is going to be a reassessment of our strategy review. In my view, we are not going to see modications in the definition of price stability. With respect to the toolkit, I think that all the instruments are going to remain available for use in the future.

    Simultaneously, we have learned much more about side effects, and we are going to pay more attention to financial stability considerations. QE, for instance, was a new instrument added to the toolkit in 2015. What is important is that when you use an instrument, you can gauge its real impact. Sometimes it’s much easier to start using the instrument than to withdraw it — that’s something we have learned as well. And finally, the framework of the global economy is going to be very different from the one we had in 2021. In one sense, I think we are going to have a much more fragmented world.

    In 2021, we didn’t have any discussions about trade. Deflation, or low inflation, was the main point of our review, and how close we were to the lower bound. At the same time, some academics raised the issue of the natural interest rate. This is interesting from a conceptual and an academic standpoint, but not for actual monetary policy decision-making.

    What should we expect from the new strategy statement?

    I would not expect big surprises. This is about evolution, not revolution. It is just a reassessment. It will be much more focused on how the framework for central banks and for the ECB has changed over the last five years.

    In a multipolar world, what role can China play for the ECB as a partner, and the People’s of Bank of China particularly?

    China is an important player. It’s the world’s second largest economy. We have some monetary arrangements with the central bank, like our swap lines.

    Sometimes when we talk about trade policies, we look only at bilateral tariffs. But we need to have a holistic approach. In the case, for instance, of the negotiations between the United States and Europe, what is going to be key is not only the final outcome in terms of bilateral tariffs, but the potential impact of trade diversion. You need to be holistic with respect to trade, because otherwise, perhaps, you are missing the real impact that these trade negotiations are going to have.

    Do you see that as a big risk, trade diversion? Your colleague Isabel Schnabel seemed to suggest this was not a major risk.

    Well, I don’t know whether it’s going to be a big risk, but undoubtedly this is something that we have to monitor and take into consideration.

    Could the ECB work with the People’s Bank of China, for example in the field of payments? China has its own digital currency.

    We are fully behind a digital euro. We believe that it’s something that is going to be very important in Europe.

    There will be new legislation in the United States about stablecoins. They are going to become a means of payment and most projects are going to come from the United States. My reading of the digital euro project is digital public money: it will be a means of payment, it’s not going to pay an interest rate, and it will not replace cash. We are going to take financial stability implications into consideration too.

    People, at the end of the day, both in the analogue and digital context, always want to have public money. For them, that’s real money. And if people doubt whether they can transform their current account balance into banknotes, then a bank run can take place. The digital euro is going to play a similar role in a digital world.

    If the case for a digital euro is so clear, why does the legislator not see it? Brussels has been dragging its feet. Why is that, and do you expect a change?

    I hope that we will be able to convince the legislators, but you have to ask them why they have so many doubts. From our standpoint, it’s quite clear that a digital euro is something that is extremely relevant and useful in the payment context in Europe. And I think that eventually, they will be convinced of the clear advantages of a digital euro.

    MIL OSI Europe News –

    June 16, 2025
  • MIL-OSI: WISeKey Appoints Rolf Gobet to its Strategic Advisory Committee

    Source: GlobeNewswire (MIL-OSI)

    WISeKey Appoints Rolf Gobet to its Strategic Advisory Committee

    Geneva – June 16, 2025 – WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announced the appointment of Rolf Gobet to its Strategic Advisory Committee.

    Mr. Gobet brings over three decades of experience in managing complex public-private projects, as he has held several leadership roles across Europe. As part of HP’s EMEA e-government group, which focuses on providing technological solutions and services to public sector organizations in the Europe, Middle East, and Africa region, Mr. Gobet led the implementation of the world’s first internet voting solution, an achievement made possible through a close collaboration with WISeKey. This initiative set a global benchmark for digital trust and innovation in democratic processes.

    Mr. Gobet also played a key role in the development of TOSA, the world’s first fully electric bus system that charges on the go without using overhead contact lines. This groundbreaking project was delivered through a public-private partnership involving major players, including multinational ABB, a global technology leader in electrification and automation, acquired by Hitachi in 2022. His ability to bring together stakeholders from government, industry, and academia has made him a recognized leader in technology-led transformation.

    In French-speaking Switzerland, Mr. Gobet helped establish clusters of excellence, including the GAIN cluster, which unites aerospace companies in a collaborative innovation ecosystem. For more than 10 years, he directed the Office for the Promotion of Industries and Technologies (OPI), where he supported the economic development of companies ranging from startups to global enterprises. Mr. Gobet holds a master’s degree from the University of Lausanne.

    “We are honored to welcome Rolf to our Strategic Advisory Committee,” said Carlos Moreira, Founder and CEO of WISeKey. “His pioneering achievements, deep public-private experience, and unique vision for sustainable and inclusive innovation make him a valuable asset to WISeKey’s global mission.”

    About WISeKey
    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com 
    WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611
    lcati@theequitygroup.com

    The MIL Network –

    June 16, 2025
  • MIL-OSI: WISeKey Appoints Rolf Gobet to its Strategic Advisory Committee

    Source: GlobeNewswire (MIL-OSI)

    WISeKey Appoints Rolf Gobet to its Strategic Advisory Committee

    Geneva – June 16, 2025 – WISeKey International Holding Ltd (“WISeKey”) (SIX: WIHN, NASDAQ: WKEY), a leading global cybersecurity, blockchain, and IoT company, today announced the appointment of Rolf Gobet to its Strategic Advisory Committee.

    Mr. Gobet brings over three decades of experience in managing complex public-private projects, as he has held several leadership roles across Europe. As part of HP’s EMEA e-government group, which focuses on providing technological solutions and services to public sector organizations in the Europe, Middle East, and Africa region, Mr. Gobet led the implementation of the world’s first internet voting solution, an achievement made possible through a close collaboration with WISeKey. This initiative set a global benchmark for digital trust and innovation in democratic processes.

    Mr. Gobet also played a key role in the development of TOSA, the world’s first fully electric bus system that charges on the go without using overhead contact lines. This groundbreaking project was delivered through a public-private partnership involving major players, including multinational ABB, a global technology leader in electrification and automation, acquired by Hitachi in 2022. His ability to bring together stakeholders from government, industry, and academia has made him a recognized leader in technology-led transformation.

    In French-speaking Switzerland, Mr. Gobet helped establish clusters of excellence, including the GAIN cluster, which unites aerospace companies in a collaborative innovation ecosystem. For more than 10 years, he directed the Office for the Promotion of Industries and Technologies (OPI), where he supported the economic development of companies ranging from startups to global enterprises. Mr. Gobet holds a master’s degree from the University of Lausanne.

    “We are honored to welcome Rolf to our Strategic Advisory Committee,” said Carlos Moreira, Founder and CEO of WISeKey. “His pioneering achievements, deep public-private experience, and unique vision for sustainable and inclusive innovation make him a valuable asset to WISeKey’s global mission.”

    About WISeKey
    WISeKey International Holding Ltd (“WISeKey”, SIX: WIHN; Nasdaq: WKEY) is a global leader in cybersecurity, digital identity, and IoT solutions platform. It operates as a Swiss-based holding company through several operational subsidiaries, each dedicated to specific aspects of its technology portfolio. The subsidiaries include (i) SEALSQ Corp (Nasdaq: LAES), which focuses on semiconductors, PKI, and post-quantum technology products, (ii) WISeKey SA which specializes in RoT and PKI solutions for secure authentication and identification in IoT, Blockchain, and AI, (iii) WISeSat AG which focuses on space technology for secure satellite communication, specifically for IoT applications, (iv) WISe.ART Corp which focuses on trusted blockchain NFTs and operates the WISe.ART marketplace for secure NFT transactions, and (v) SEALCOIN AG which focuses on decentralized physical internet with DePIN technology and house the development of the SEALCOIN platform.

    Each subsidiary contributes to WISeKey’s mission of securing the internet while focusing on their respective areas of research and expertise. Their technologies seamlessly integrate into the comprehensive WISeKey platform. WISeKey secures digital identity ecosystems for individuals and objects using Blockchain, AI, and IoT technologies. With over 1.6 billion microchips deployed across various IoT sectors, WISeKey plays a vital role in securing the Internet of Everything. The company’s semiconductors generate valuable Big Data that, when analyzed with AI, enable predictive equipment failure prevention. Trusted by the OISTE/WISeKey cryptographic Root of Trust, WISeKey provides secure authentication and identification for IoT, Blockchain, and AI applications. The WISeKey Root of Trust ensures the integrity of online transactions between objects and people. For more information on WISeKey’s strategic direction and its subsidiary companies, please visit www.wisekey.com.

    Disclaimer
    This communication expressly or implicitly contains certain forward-looking statements concerning WISeKey International Holding Ltd and its business. Such statements involve certain known and unknown risks, uncertainties and other factors, which could cause the actual results, financial condition, performance or achievements of WISeKey International Holding Ltd to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. WISeKey International Holding Ltd is providing this communication as of this date and does not undertake to update any forward-looking statements contained herein as a result of new information, future events or otherwise.

    This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities, and it does not constitute an offering prospectus within the meaning of the Swiss Financial Services Act (“FinSA”), the FinSa’s predecessor legislation or advertising within the meaning of the FinSA. Investors must rely on their own evaluation of WISeKey and its securities, including the merits and risks involved. Nothing contained herein is, or shall be relied on as, a promise or representation as to the future performance of WISeKey.

    Press and Investor Contacts

    WISeKey International Holding Ltd
    Company Contact: Carlos Moreira
    Chairman & CEO
    Tel: +41 22 594 3000
    info@wisekey.com 
    WISeKey Investor Relations (US) 
    The Equity Group Inc.
    Lena Cati
    Tel: +1 212 836-9611
    lcati@theequitygroup.com

    The MIL Network –

    June 16, 2025
  • MIL-OSI Global: ‘No kings!’: like the LA protesters, the early Romans hated kings, too

    Source: The Conversation – Global Perspectives – By Peter Edwell, Associate Professor in Ancient History, Macquarie University

    Protesters across the United States have brandished placards declaring “no kings!” in recent days, keen to send a message one-man rule is not acceptable.

    The defeat of the forces of King George III in the United States’ revolutionary war of 1775–83 saw the end of royal rule in the US. Touting itself as the world’s leading democracy, kings have not been welcome in America for 250 years. But for many, Donald Trump is increasingly behaving as one and now is the time to stop him.

    Having studied ancient Roman politics for years, America’s rejection of kingship reminds me vividly of the strong aversion to it in the Roman republic.

    Early Romans too, sought a society with “no kings!” – up until, that is, the period following the assassination of Julius Caesar, when everything changed.

    The seven kings of Rome

    Seven kings ruled Rome, one after the other, after the city was founded in 753 BCE. The first was Romulus who, according to some legends, gave the city its name.

    When the last of the kings of Rome was driven from the city in 509 BCE, his key opponent, Lucius Junius Brutus, vowed:

    I will pursue Lucius Tarquinius Superbus and his wicked wife and all his children, with sword, with fire, with whatever violence I may; and I will suffer neither him nor anyone else to be king in Rome!

    Tarquinius Superbus (meaning “the proud”) had ruled Rome for 25 years. He began his reign by executing uncooperative Senators.

    When Tarquinius’ son raped a noblewoman named Lucretia, the Roman population rebelled against the king’s long-running tyranny. The hubris of the king and his family was finally too much. They were driven from Rome and never allowed to return.

    A new system of government was ushered in: the republic.

    The rise of the Roman republic

    In the new system, power was shared among elected officials – including two consuls, who were elected annually.

    The consuls were the most powerful officials in the republic and were given power to wage war.

    The Senate, which represented the wealthiest sections of society (initially the patrician class), held power in some key areas, including foreign policy.

    Less affluent citizens elected tribunes of the plebs who had various powers, including the right to veto laws.

    In the republican system, the term king (rex in Latin) quickly became anathema.

    “No kings” would effectively remain the watchword through the Roman republic’s entire history. “Rex” was a word the Romans hated. It was short-hand for “tyranny”.

    The rise and fall of Julius Caesar

    Over time, powerful figures emerged who threatened the republic’s tight power-sharing rules.

    Figures such as the general Pompey (106–48 BCE) broke all the rules and behaved in suspiciously kingly ways. With military success and vast wealth, he was a populist who broke the mould. Pompey even staged a three-day military parade, known as a triumph, to coincide with his birthday in 61 BCE.

    But the ultimate populist was Julius Caesar.

    Born to a noble family claiming lineage from the goddess Venus, Caesar became fabulously wealthy.

    He also scored major military victories, including subduing the Gauls (across modern France and Belgium) from 58–50 BCE.

    In the 40s BCE, Caesar began taking offices over extended time frames – much longer periods than the rules technically allowed.

    Early in 44 BCE he gave himself the formal title “dictator for life” (Dictator Perpetuo), having been appointed dictator two years earlier. The dictatorship was only meant to be held in times of emergency for a period of six months.

    When Caesar was preparing a war against Parthia (in modern day Iran), some tried to hail him as king.

    Soon after, an angry group of 23 senators stabbed him to death in a vain attempt to save the republic. They were led by Marcus Junius Brutus, a descendant of the Brutus who killed the last Roman king, Tarquinius Superbus.

    The Roman republic was beyond saving despite Caesar’s death.
    duncan1890/Getty Images

    However, the Roman republic was beyond saving despite Caesar’s death. His great nephew Octavian eventually emerged as leader and became known as Augustus (27 BCE – 14 CE). With Augustus, an age of emperors was born.

    Emperors were kings in all but name. The strong aversion to kingship in Rome ensured their complete avoidance of the term rex.

    ‘No kings!’

    American protesters waving placards shouting “no kings!” are expressing clear concerns that their beloved democracy is under threat.

    Donald Trump has already declared eight national emergencies and issued 161 executive orders in his second term.

    When asked if he needs to uphold the Constitution, Trump declares “I don’t know.” He has joked about running for a third term as president, in breach of the longstanding limit of two terms.

    Like Caesar, is Donald Trump becoming a king in all but name? Is he setting a precedent for his successors to behave increasingly like emperors?

    The American aversion to “king” likely ensures the term will never return. But when protesters and others shout “no kings!”, they know the very meaning of the term “president” is changing before their eyes.

    Peter Edwell receives funding from the Australian Research Council.

    – ref. ‘No kings!’: like the LA protesters, the early Romans hated kings, too – https://theconversation.com/no-kings-like-the-la-protesters-the-early-romans-hated-kings-too-259011

    MIL OSI – Global Reports –

    June 16, 2025
  • MIL-OSI Global: Seabed mining is becoming an environmental flashpoint – NZ will have to pick a side soon

    Source: The Conversation – Global Perspectives – By Myra Williamson, Senior Lecturer in Law, Auckland University of Technology

    Getty Images

    Seabed mining could become one of the defining environmental battles of 2025. Around the world, governments are weighing up whether to allow mining of the ocean floor for metal ores and minerals. New Zealand is among them.

    The stakes are high. Deep-sea mining is highly controversial, with evidence showing mining activity can cause lasting damage to fragile marine ecosystems. One area off the east coast of the United States, mined as an experiment 50 years ago, still bears scars and shows little sign of recovery.

    With the world facing competing pressures – climate action and conservation versus demand for resources – New Zealand must now decide whether to fast-track mining, regulate it tightly, or pause it entirely.

    Who controls international seabed mining?

    A major flashpoint is governance in international waters. Under international law, seabed mining beyond national jurisdiction is managed by the International Seabed Authority (ISA), created by the United Nations Convention on the Law of the Sea (UNCLOS).

    But the US has never ratified UNCLOS. In April this year, President Donald Trump issued an executive order to bypass the ISA and allow companies to begin mining in international waters.

    The ISA has pushed back, warning unilateral action breaches international law. However, the declaration from the recently concluded UN Ocean Conference in France does not urge countries to adopt a precautionary approach, nor does it ban deep seabed mining.

    The declaration does “reiterate the need to increase scientific knowledge on deep sea ecosystems” and recognises the role of the ISA in setting “robust rules, regulations and procedures for exploitation of resources” in international waters.

    So, while the international community supports multilateralism and international law, deep-sea mining in the near future remains a real possibility.

    Fast-track approvals

    In the Pacific, some countries have already made up their minds about which way they will go. Nauru recently updated its agreement with Canadian-based The Metals Company to begin mining in the nearby Clarion Clipperton Zone. The deal favours the US’s go-it-alone approach over the ISA model.

    By contrast, in 2022, New Zealand’s Labour government backed the ISA’s moratorium and committed to a holistic ocean management strategy. Whether that position still holds is unclear, given the current government’s policies.

    The list of applications under the Fast-track Approvals Act 2024 – described by Regional Development Minister Shane Jones as “arguably the most permissive regime” in Australasia – includes two controversial seabed mining proposals in Bream Bay and off the Taranaki coast:

    • Trans-Tasman Resources’ proposal to extract up to 50 million tonnes of Taranaki seabed material annually to recover heavy mineral sands that contain iron ore as well as rare metal elements titanium and vanadium.

    • McCallum Brothers Ltd’s Bream Bay proposal to dredge up to 150,000 cubic metres of sand yearly for three years, and up to 250,000 cubic metres after that.

    Legal landscape changing

    Māori and environmental groups have opposed the fast-track policy, and the Treaty of Waitangi has so far been a powerful safeguard in seabed mining cases.

    Provisions referencing Treaty principles appear in key laws, including the Crown Minerals Act and the Exclusive Economic Zone and Continental Shelf (Environmental Effects) Act.

    In 2021, the Supreme Court cited these obligations when it rejected a 2016 marine discharge application by Trans-Tasman Resources to mine the seabed in the Taranaki Bight. The court ruled Treaty clauses must be interpreted in a “broad and generous” way, recognising tikanga Māori and customary marine rights.

    But that legal landscape could soon change. The Regulatory Standards Bill, now before parliament, would give priority to property rights over environmental or Indigenous protections in the formulation of new laws and regulations.

    The bill also allows for the review of existing legislation. In theory, if the Regulatory Standards Bill becomes law, it could result in the removal of Treaty principles clauses from legislation.

    This in turn could deny courts the tools they’ve previously used to uphold environmental and Treaty-based protections to block seabed mining applications. That would make it easier to approve fast-tracked projects such as the Bream Bay and Taranaki projects.

    Setting a precedent

    Meanwhile, Hawai’i has gone in a different direction. In 2024, the US state passed a law banning seabed mining in state waters – joining California (2022), Washington (2021) and Oregon (1991).

    Under the Hawai’i Seabed Mining Prevention Act, mining is banned except in rare cases such as beach restoration. The law cites the public’s right to a clean and healthy environment.

    As global conflict brews over seabed governance, New Zealand’s eventual position could set a precedent.

    Choosing to prohibit seabed mining in New Zealand waters, as Hawai’i has done, would send a strong message that environmental stewardship and Indigenous rights matter more than short-term resource extraction interests.

    If New Zealand does decide to go ahead with seabed mining, however, it could trigger a cascade of mining efforts across New Zealand and the Pacific. A crucial decision is fast approaching.

    Myra Williamson 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. Seabed mining is becoming an environmental flashpoint – NZ will have to pick a side soon – https://theconversation.com/seabed-mining-is-becoming-an-environmental-flashpoint-nz-will-have-to-pick-a-side-soon-258908

    MIL OSI – Global Reports –

    June 16, 2025
  • Iran and Israel Exchange Fresh Strikes as Global Leaders Push for Ceasefire

    Source: Government of India

    Source: Government of India (4)

    The war between Iran and Israel is in its fourth day of direct hostilities as international diplomatic activity is in full swing to prevent the conflict from engulfing broader West Asia. While ongoing military operations have killed dozens of people and caused widespread destruction, a complex matrix of behind-the-scenes negotiations is underway among world powers and regional actors desperately trying to contain the crisis.

    Iran launched missile strikes on Israeli cities , with rockets striking Haifa and injuring at least 15 in Israel’s National Emergency Service. The attacks were launched as residents in Tehran reported shaking explosions throughout the capital city, with Iranian officials confirming missile strikes in the Niavaran and Tajrish neighborhoods in the northern part of the city, as well as in and around central Valiasr and Hafte Tir squares.

    Israeli forces have expanded their campaign beyond Tehran to cities including Shiraz and Isfahan, where a Defense Ministry military base was hit. The Israeli military announced it had conducted its longest-range strike since the fighting began, striking an aerial refueling aircraft at Mashhad Airport in eastern Iran. Well over 250 Iranian targets have been hit in the expanding military campaign, including what Israel identifies as nuclear command and control centers and key energy targets. The situation is still complex and fraught with difficulties. Now, Iranian officials refer to negotiations with USA as unjustifiable amid current Israeli aggression, and Iran has stopped attending nuclear negotiations that were supposed to be carried out in Oman.

    Iran’s Foreign Minister Abbas Aragchi has indicated readiness for nuclear agreements that ensure Iran does not pursue weapons development, but insists the country will not accept any deal that deprives it of nuclear rights.

    Behind closed doors, Iran has approached Qatar and Oman requesting them to act as intermediaries with the United States to facilitate ceasefire negotiations, while Saudi Arabia is reportedly involved in diplomatic efforts to de-escalate the situation. US President Donald Trump has expressed optimism about peace prospects, stating he anticipates a deal soon through ongoing calls and meetings to broker an agreement. International diplomatic efforts have accelerated as global leaders warn of the urgent need to prevent the conflict from spilling over to the rest of the Middle East, with multiple regional powers working frantically to halt what they describe as a spiral of violence causing irreparable economic and civil damage to both sides.

    The United Nations Security Council convened an emergency session where both nations presented diametrically opposing positions. Iran labeled Israel’s strike a declaration of war, while Israel justified its attack as legitimate self-defense after failed diplomacy. The session failed to produce a binding resolution, which was indicative of the failure of the international community to agree on anything.

    European leaders have called for diplomatic solutions but appear to have limited influence in the conflict, with analysts saying Europe is on the sidelines. Cyprus has played a minor role, with its president reportedly having carried messages between Israel and Iran through indirect intermediaries.

    Israel remains extremely skeptical of Iranian intentions and has continued its military push despite diplomatic progress. Israeli leaders have warned Iran to vacate nuclear facilities while calling for the United States to assist efforts at abandoning Iran’s nuclear program entirely. The Israeli government has shown little desire to stop activities without concrete Iranian concessions.

    Stakes have also increased as Iran threatened that Western assistance to Israel in downing missiles can result in targeting US, UK, and French military assets throughout the region. The threat has complicated diplomacy as Washington has already provided defensive assistance to Israel while publicly urging restraint.

    In spite of active diplomatic contacts with various regional mediators and ongoing US engagement, prospects for an immediate ceasefire are uncertain.

    June 16, 2025
  • Iran and Israel Exchange Fresh Strikes as Global Leaders Push for Ceasefire

    Source: Government of India

    Source: Government of India (4)

    The war between Iran and Israel is in its fourth day of direct hostilities as international diplomatic activity is in full swing to prevent the conflict from engulfing broader West Asia. While ongoing military operations have killed dozens of people and caused widespread destruction, a complex matrix of behind-the-scenes negotiations is underway among world powers and regional actors desperately trying to contain the crisis.

    Iran launched missile strikes on Israeli cities , with rockets striking Haifa and injuring at least 15 in Israel’s National Emergency Service. The attacks were launched as residents in Tehran reported shaking explosions throughout the capital city, with Iranian officials confirming missile strikes in the Niavaran and Tajrish neighborhoods in the northern part of the city, as well as in and around central Valiasr and Hafte Tir squares.

    Israeli forces have expanded their campaign beyond Tehran to cities including Shiraz and Isfahan, where a Defense Ministry military base was hit. The Israeli military announced it had conducted its longest-range strike since the fighting began, striking an aerial refueling aircraft at Mashhad Airport in eastern Iran. Well over 250 Iranian targets have been hit in the expanding military campaign, including what Israel identifies as nuclear command and control centers and key energy targets. The situation is still complex and fraught with difficulties. Now, Iranian officials refer to negotiations with USA as unjustifiable amid current Israeli aggression, and Iran has stopped attending nuclear negotiations that were supposed to be carried out in Oman.

    Iran’s Foreign Minister Abbas Aragchi has indicated readiness for nuclear agreements that ensure Iran does not pursue weapons development, but insists the country will not accept any deal that deprives it of nuclear rights.

    Behind closed doors, Iran has approached Qatar and Oman requesting them to act as intermediaries with the United States to facilitate ceasefire negotiations, while Saudi Arabia is reportedly involved in diplomatic efforts to de-escalate the situation. US President Donald Trump has expressed optimism about peace prospects, stating he anticipates a deal soon through ongoing calls and meetings to broker an agreement. International diplomatic efforts have accelerated as global leaders warn of the urgent need to prevent the conflict from spilling over to the rest of the Middle East, with multiple regional powers working frantically to halt what they describe as a spiral of violence causing irreparable economic and civil damage to both sides.

    The United Nations Security Council convened an emergency session where both nations presented diametrically opposing positions. Iran labeled Israel’s strike a declaration of war, while Israel justified its attack as legitimate self-defense after failed diplomacy. The session failed to produce a binding resolution, which was indicative of the failure of the international community to agree on anything.

    European leaders have called for diplomatic solutions but appear to have limited influence in the conflict, with analysts saying Europe is on the sidelines. Cyprus has played a minor role, with its president reportedly having carried messages between Israel and Iran through indirect intermediaries.

    Israel remains extremely skeptical of Iranian intentions and has continued its military push despite diplomatic progress. Israeli leaders have warned Iran to vacate nuclear facilities while calling for the United States to assist efforts at abandoning Iran’s nuclear program entirely. The Israeli government has shown little desire to stop activities without concrete Iranian concessions.

    Stakes have also increased as Iran threatened that Western assistance to Israel in downing missiles can result in targeting US, UK, and French military assets throughout the region. The threat has complicated diplomacy as Washington has already provided defensive assistance to Israel while publicly urging restraint.

    In spite of active diplomatic contacts with various regional mediators and ongoing US engagement, prospects for an immediate ceasefire are uncertain.

    June 16, 2025
←Previous Page
1 … 52 53 54 55 56 … 225
Next Page→
NewzIntel.com

NewzIntel.com

MIL Open Source Intelligence

  • Blog
  • About
  • FAQs
  • Authors
  • Events
  • Shop
  • Patterns
  • Themes

Twenty Twenty-Five

Designed with WordPress