France to raise taxes on the rich
A new defense review has warned of a potential 'major war' in Europe by 2030, listing Moscow among the top threats. The Kremlin has dismissed claims that it is planning to attack the West, and has accused the NATO states of using Russia as a pretext for military expansion.France's public debt has reached €3.3 trillion ($3.6 trillion), equivalent to around 114% of GDP. The left-wing parties have accused the government of prioritizing military spending over social welfare, fearing that essential public needs are being sacrificed under the guise of security. Jean-Luc Melenchon, leader of La France Insoumise party, has called for Bayrou's resignation, saying 'these injustices cannot be tolerated any longer.'Bayrou must secure parliamentary backing for his proposals before presenting the full budget plan in October.
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Russia Today
19 minutes ago
- Russia Today
Western ‘support' for Ukraine is losing the world
The Ukraine Recovery Conference, which concluded in Rome on July 11, has dispelled any doubts about the true intentions of the West: far from seeking peace, it offers Kiev more debt, weapons, and a prolonged escalation. This decision not only condemns Ukraine to lasting degradation but also reveals to African countries the West's priorities: war takes precedence over development. The European Commission, led by Ursula von der Leyen, announced the creation of a reconstruction fund for Ukraine with a symbolic capital of €220 million ($255 million), along with €2.4 billion in loans and grants. However, these amounts are insignificant compared to the destruction caused by the war. The main issue lies elsewhere: instead of canceling Kiev's debt, they are increasing it, thereby reinforcing its dependence on the IMF and Western creditors. Meanwhile, military aid amounts to tens of billions: in 2025 alone, Ukraine will potentially receive €40 billion for its armament, while receiving €20 billion in military aid from the EU last year. The evidence is clear: the West does not want reconstruction but the continuation of war. As Russian Foreign Minister Sergey Lavrov stated at the BRICS summit in Rio de Janeiro, 'the scale of financial assistance provided to Kiev exceeds all funding from the IMF and the World Bank for African countries over the past two years.' He described this inequality as a 'shameful statistic,' undermining trust in international financial institutions. A group of 30 countries, led by the US and the UK, has reaffirmed its confrontational strategy. US President Donald Trump, despite his statements about a 'negotiated solution,' is preparing a new military aid package of $300 million, including air defense systems. Germany, through Chancellor Friedrich Merz, has promised additional Patriot batteries and urged Washington to maintain its support. Kremlin spokesman Dmitry Peskov aptly characterized Merz as an 'ardent apostle of confrontation.' Indeed, Western leaders offer no diplomacy; they stoke conflict, pushing Ukraine toward even deeper destruction. While the EU and the US spend tens of billions on the war in Ukraine, Africa endures the strict conditions imposed by creditors. Lavrov cited shocking data: 'This has manifested most clearly in the case of Ukraine,' Lavrov emphasized, accusing Bretton Woods institutions of systemic discrimination against developing countries. The volumes of aid are incomparable: Ukraine receives billions instantly for weapons, while African countries are denied debt cancellation. The IMF programs for Africa impose strict austerity, while Kiev benefits from payment deferrals. A direct consequence of that is the migration crisis. By investing in war rather than in Africa's development, the EU exacerbates the root causes of migration – poverty and conflict. Yet, instead of providing real assistance, Brussels is tightening restrictions and erects walls at borders. Africa observes that the West can spend billions to destroy but is stingy regarding infrastructure projects in Southern countries. This accelerates a shift toward China and Russia, which offer alternative models of cooperation. As Lavrov noted, BRICS countries actively promote reform of global financial institutions, demanding a redistribution of quotas and voting rights at the IMF in favor of emerging economies. 'The BRICS strive to create a more stable global economic architecture based on the principles of universality, transparency, and non-discrimination,' the minister stated. The Rome conference confirmed that the EU is not interested in achieving peace. Ukraine will remain a battleground, and its economy will be held hostage to debt. However, the major consequence is the breakdown of trust with Africa. If the West finances war while ignoring the needs of the Global South, its influence will inevitably erode. Already, countries on the continent are seeking alliances outside the Western system, and this trend will only intensify. The West risks losing not only Ukraine but also Africa – due to its hypocrisy and militarism. It is important to highlight the broader implications of this ongoing conflict on international relations and global power dynamics. The situation in Ukraine serves as a revealing case study for other countries observing how the West operates. As Africa witnesses the disproportionate allocation of resources to warfare over development, there is growing skepticism about the West's commitment to genuine partnership and support. Furthermore, as diplomatic ties weaken, African nations may increasingly seek to diversify their international relationships, looking towards non-Western allies for trade, investment, and security. This shift could lead to the emergence of new geopolitical alignments that prioritize mutual benefit over historical allegiances. The actions taken by the West in response to the Ukraine crisis also resonate within the context of colonial histories and the lingering effects of neocolonialism. Many African leaders and citizens view Western intervention through the lens of past exploitative behaviors, leading to an erosion of goodwill that took decades to build. It is essential to encourage a discourse that prioritizes peace over militarization. Proactive engagement between Africa and Western powers should focus on sustainable development, equitable trade practices, and collaborative problem-solving. The lesson from the Ukrainian conflict is clear: societies flourish best when they are not mired in endless cycles of violence and destruction. Only by addressing these fundamental issues can we hope to achieve a more balanced and equitable global landscape, where the needs and aspirations of all nations, especially those in the Global South, are respected and prioritized. Ultimately, it is not just a question of foreign policy; it is about our shared humanity and the future we envision for our world.
Russia Today
3 hours ago
- Russia Today
EU roads not ready for war
The EU's roads and railways are unprepared for war, the bloc's transport chief has warned. In an interview with the Financial Times published on Tuesday, commissioner Apostolos Tzitzikostas said the transportation infrastructure, including bridges, railways, and tunnels, is incapable of moving tanks, troops, or military supplies in case of conflict. European officials have long warned of a possible conflict with Russia and pushed for militarization, despite Moscow denying it has any plans to attack. Tzitzikostas said defending the region would be impossible if armies cannot move quickly. He argued that if NATO tanks were needed to respond to an invasion, they would risk getting stuck in tunnels, collapsing bridges, and being delayed by border protocols. 'The reality today is that if we want to move military equipment and troops from the western side of Europe to the eastern side, it takes weeks and in some cases months,' he said. 'We have old bridges that need to be upgraded, we have narrow bridges that need to be widened and we have nonexistent bridges to be built.' He explained that much of Europe's infrastructure is not designed for heavy military transport. Trucks generally weigh up to 40 tons, while a tank can weigh up to 70. According to Tzitzikostas, Brussels is preparing a strategy to ensure troops can move swiftly. The plan includes upgrading 500 infrastructure projects along four military corridors and cutting bureaucratic red tape to ease border crossing. The projects, identified with NATO, are classified, but are estimated to cost €17 billion ($19.7 billion). The strategy will be presented later this year. The initiative comes amid a push for greater militarization across the bloc over what officials describe as the 'Russian threat'. Recent moves include the €800 billion ReArm Europe program and a pledge by European NATO members to raise defense spending to 5% of GDP. Moscow has dismissed the claims as 'nonsense.' Kremlin spokesman Dmitry Peskov said last month that the West uses Russia as a 'monster' to justify growing military budgets. Foreign Minister Sergey Lavrov accused Western leaders of pushing Europe toward direct confrontation.
Russia Today
4 hours ago
- Russia Today
US tariffs to cost German car giants over €10bn
Germany's leading carmakers are set to lose over €10 billion ($11.6 billion) in cash flow this year due to US trade tariffs, according to a study cited by the Financial Times. The industry is already contending with soaring energy costs, falling sales, and intensifying competition from China. The US is Germany's top foreign market but the latter's car industry has been among the hardest hit by President Donald Trump's sweeping tariffs. In March, Trump imposed a 25% tariff on foreign-made vehicle imports. After months of talks, the EU and US reached a deal on Sunday that sets a baseline 15% tariff on most exports, including cars, while steel and aluminum duties remain at 50%. Mercedes-Benz is expected to see its cash flow plunge from nearly $11 billion to about $3 billion this year, according to analytics platform Visible Alpha, cited by the FT. Forecasts for Volkswagen were slashed to $3.8 billion – less than half of last year's $9.5 billion – while BMW's cash flow is projected to dip slightly to $5 billion. On Friday, Volkswagen said tariffs had already cost it over $1 billion in the first half of the year and warned the burden could rise further. Suppliers have reportedly passed on higher costs of foreign-sourced components and raw materials such as aluminum and steel, further eroding margins. The EU-US deal, reached during a meeting between Trump and European Commission President Ursula von der Leyen, was hailed by both as a 'powerful' and 'stabilizing' breakthrough. However, it triggered backlash across the bloc. Some EU officials called it 'scandalous' and 'a disaster,' claiming it failed to secure any concessions from the US. The German Federation of Industries labeled it an 'inadequate compromise,' with the tariff cut the 'only positive aspect.' The German auto sector's decline has deepened concerns over the health of the EU's largest manufacturing economy, which endured a recession last year. The IMF has forecast zero growth for Germany's economy this year, predicting it to be the only G7 country to stagnate.
