EU gives Bulgaria green light to adopt Euro in 2026
The EU gave the green light on Wednesday for Bulgaria to adopt the euro from January 1, 2026, meaning it will become the 21st member of the single currency area.
The European Commission said that Bulgaria had fulfilled the strict criteria 'intended to ensure that a country is ready to adopt the euro and that its economy is sufficiently prepared to do so.'
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Arab News
27 minutes ago
- Arab News
Britain still has work to do on defense
The British government last week published its long-awaited Strategic Defence Review. Led by former Defence Secretary and NATO secretary general Lord Robertson, the review outlines the major geopolitical challenges facing Britain and offers 62 recommendations to make the UK and its allies more secure. The government accepted all of them. Unsurprisingly, the review identifies Russia as the most acute threat to UK security. However, it also highlights the challenges posed by China, North Korea, and Iran. While many of the findings reaffirm existing concerns, the review makes three particularly important observations and course corrections that deserve attention. First, it shows that the UK is taking seriously the military lessons from Russia's full-scale invasion of Ukraine. After three years of near-nightly missile and drone strikes on Ukrainian cities, the need for robust air defense is clearer than ever. The review pledges £1 billion in new funding for homeland air and missile defense, a long-overdue investment. Another lesson from Ukraine is the critical importance of a strong defense industrial base capable of producing large quantities of munitions and artillery shells. At points during the war, Russia and Ukraine were expending more shells in a week than some European countries manufacture in an entire year. When the time came to supply Ukraine, many European nations lacked sufficient stockpiles. This was a wake-up call — especially for countries that had allowed their defense industries to atrophy. The UK is now taking steps to address this. The review commits £6 billion to build six new munitions and missile factories, including £1.5 billion for an 'always-on' production facility. This means Britain will be able to rapidly surge production in a crisis without starting from scratch. Additionally, the review commits to producing 7,000 long-range strike weapons in the near term, another recognition of evolving battlefield needs. Second, the review firmly reorientates the UK toward European security by adopting a 'NATO First' policy. This means prioritizing Britain's role in the alliance above other regional or global commitments. The timing is appropriate. Since Britain left the EU in 2019, its place in Europe has often been questioned. But following Russia's invasion of Ukraine, the UK has reasserted its leadership role in European defense — both within NATO and through bilateral and multilateral cooperation. The document also emphasizes the UK's continued engagement in the Middle East, especially with the Gulf states. Luke Coffey The explicit commitment to NATO First is a welcome signal to Britain's European partners. It affirms that, even outside the EU, the UK remains a key pillar of the continent's defense architecture. Third, while NATO remains the primary focus, the UK will continue to project power globally. The review confirms plans to produce a new class of nuclear-powered attack submarines, developed jointly with the US and Australia under the AUKUS partnership. This capability extends Britain's reach far beyond Europe and demonstrates that, in the words of the review, 'NATO First does not mean NATO only.' The document also emphasizes the UK's continued engagement in the Middle East, especially with the Gulf states. Each of the six Gulf monarchies is mentioned by name, and the review reaffirms Britain's long-standing naval presence in Bahrain — an essential strategic foothold in the region. Despite these strengths, the review contains gaps and raises concerns, particularly around funding. Accepting all 62 recommendations is politically bold, but doing so without guaranteed funding is risky. Although the government has pledged to increase defense spending from 2.3 percent to 2.5 percent of GDP by 2027, this falls short of the 3–5 percent levels being discussed by NATO leaders before their summit this month in The Hague. Take, for example, the eight new attack submarines: there is no full funding commitment. The government promises new investment 'in future years,' but offers no guarantees. A so-called Defense Investment Plan will be published this year to detail how these ambitions will be financed. But for now, this ambiguity leaves observers uncertain. Why accept all recommendations if the Treasury hasn't formally agreed to pay for them? Another concern is the lack of whole-of-government coordination. Unlike the previous Conservative-led government, which conducted numerous Strategic Defence and Security Reviews, the Labour government dropped the 'security' component. Past reviews incorporated not only military planning, but also issues such as cybersecurity, border control, counterterrorism, and resilience against pandemics and disinformation. These are vital elements of national security, and omitting them risks undermining Britain's broader preparedness. The new review does warn of threats from cyberattacks, assaults on critical infrastructure, and disinformation campaigns, but these threats are often outside the remit of the armed forces to address. Unless the government embraces a cross-departmental approach and integrates other security agencies into defense planning, it risks creating dangerous blind spots. Perhaps the most glaring issue is the size of the British armed forces. If there is one lesson from Ukraine, it is that large, professional armies still matter. Britain's Army currently stands at just 74,400 soldiers. The review proposes to increase this to 76,000 after the next election, a marginal boost that will also take years to implement. This is insufficient. Moreover, a smaller conventional force shrinks the recruitment pool for the UK's elite special forces, who are typically drawn from the regular military. Despite these challenges, the review is an important first step. Its focus on NATO, industrial resilience, and lessons from Ukraine are encouraging signs that Labour is serious about restoring Britain's defense credibility. But serious work remains. Unless the government fully funds its promises, addresses the absence of cross-government security integration, and expands the armed forces in a meaningful way, the review will fall short of its ambitions. When Labour last came to power in 1997, they published a defense review in 1998 but then failed to produce another during their entire 13 years in office. This time, they should follow the Conservative model and commit to conducting reviews every few years. As this review rightly notes, the world is becoming more dangerous. It is in everyone's interest for Britain to remain a strong, credible force on the global stage. • Luke Coffey is a senior fellow at the Hudson Institute. X: @LukeDCoffey.
Asharq Al-Awsat
an hour ago
- Asharq Al-Awsat
France Cools Expectations of Swift Palestinian State Recognition
France on Friday dampened expectations Paris could rapidly recognize a Palestinian state, with the French foreign minister saying while it was "determined" to make such a move, recognition had to be more than "symbolic". France is due later this month to co-host with Saudi Arabia a UN conference in New York on a two-state solution to the conflict between Israel and the Palestinians. There had been expectations that France could recognize a Palestinian state during that conference, with President Emmanuel Macron also growing increasingly frustrated with Israel's blocking of aid to the Palestinians in the war-torn Gaza Strip. "France could have taken a symbolic decision. But this is not the choice we made because we have a particular responsibility" as a permanent member of the UN Security Council, Foreign Minister Jean-Noel Barrot said, while saying Paris was still "determined" to make the move. Several EU countries including Ireland, Spain and Sweden recognize a Palestinian state. But Germany, while backing a two-state solution, has said recognition now would send the "wrong signal". France is reportedly working closely on the issue with the United Kingdom, which also so far has not recognized a Palestinian state, at a time when French-British diplomatic ties are becoming increasingly tight after Brexit. Macron on Thursday said that he expected the conference in New York would take steps "towards recognizing Palestine", without being more specific. He has said he hopes French recognition of a Palestinian state would encourage other governments to do the same and that countries who do not recognize Israel should do so. Barrot meanwhile also stressed the "absolute necessity" to address the issue of the disarmament of Palestinian group Hamas, which rules the Gaza Strip. Hamas's unprecedented attack on Israel on October 7, 2023 resulted in the deaths of 1,218 people, mostly civilians, according to an AFP tally based on official figures. Militants abducted 251 hostages, 55 of whom remain in Gaza, including 32 the Israeli military says are dead. Israel's retaliatory offensive in Hamas-run Gaza has killed 54,677 people, mostly civilians, according to the health ministry there, figures the United Nations deems reliable. Relations between Israel and France have deteriorated over the last weeks, with Israel's foreign ministry accusing Macron of undertaking a "crusade against the Jewish state" after he called on European countries to harden their stance if the humanitarian situation in Gaza did not improve.
Asharq Al-Awsat
2 hours ago
- Asharq Al-Awsat
Three Iranians in UK Court Accused of Assisting Tehran Spy Service
Three Iranian men appeared in court in London on Friday accused of assisting Iran's foreign intelligence service and plotting violence against journalists working for a British-based broadcaster critical of Tehran. The three men - Mostafa Sepahvand, 39, Farhad Javadi Manesh, 44, and Shapoor Qalehali Khani Noori, 55, - have been charged with offences under Britain's National Security Act, brought in to give the authorities new powers to target threats from foreign states. They are accused of "engaging in conduct likely to assist a foreign intelligence service" between August 2024 and February this year, and police have said that it related to Iran. Sepahvand is also charged with carrying out surveillance in preparation to commit serious violence against a person, while Manesh and Noori were charged with surveillance with the intention that serious violent acts would be committed by others. The men appeared by videolink on Friday for a brief hearing at London's Old Bailey court during which their lawyers said all intended to plead not guilty to the charges. Prosecutors told a hearing last month that the allegations involved the targeting of journalists based in Britain connected with Iran International, a broadcaster critical of the Iranian government. They were remanded in custody until a formal plea hearing on September 26 and they are due to go on trial in October next year. The suspects were arrested last month on the same day counter-terrorism police detained five other men, including four Iranians, as part of a separate operation. Those men were later released without charge.
