Latest news with #Europaeum
Daily Mirror
09-05-2025
- Business
- Daily Mirror
Pope Leo's looming challenge as Catholic Church eyes jaw-dropping debt
Pope Leo will be tasked with tackling the Vatican's estimated £70 million debt while hoping to navigate an increasingly diverse Catholic Church that continues to swell in numbers Pope Leo XIV faces a "difficult challenge" ahead as he seeks to chart a course in his first 100 days ahead while keeping Catholics happy. The American-born pontiff was named yesterday as the Vatican wrestles with its identity in the 21st century, while facing a looming economic black hole. Cardinals turned to Robert Prevost to be their man to navigate the Vatican's eye-watering £70million debt while steering the papacy toward a more moderate path following Pope Francis' polarising 12-year tenure. As with any new pontiff, Pope Leo will be keen to signal to his fellow Catholics what his leadership will mean for them and the church in the first 100 days and years ahead. Dr Miles Pattenden, programme director at the Europaeum - a network of leading universities - told The Mirror one of the most important signals made by the new Pope was the choosing of his name, Leo. The last Pope Leo XIII was known for being dedicated to social justice and workers' rights while redefining the papacy's role into one that stripped back its political influence in Italy. "He sort of allows the church, he allows the cardinals to avoid having to choose between the two directions that they might otherwise have gone," Dr Pattenden tells us. "He has experience as an administrator, something that was, perhaps, a little bit lacking with Pope Francis, who had been considered a bit chaotic. He will be seen as a steadier hand." But the coming days and weeks will define Leo's papacy, with the new Pope needing to settle on how to handle two major upcoming moments in the early stages of his tenure. Dr Pattenden continued: "The first things we'll be looking out for is who does he appoint to to the Vatican's jobs. It's kind of like a US administration in the sense that when the pope dies everyone loses their job at the Vatican and the new pope needs to reconfirm them or replace them. "The other one to look out for is where he decides to travel to first. Pope Francis first went to the small island of Lampedusa (a major destination for migrants entering Europe) in the south of Italy, and that really set out his stall. Let's see what Pope Leo does, if he goes back to the United States, that tells us something quite significant I think, or if he goes back to Peru." But the expert did concede it might be "a little while" before Pope Leo's vision for the Catholic Church becomes more clear. His less outspoken stance earned plaudits within the College of Cardinals, who looked to a safe pair of administrative hands to tackle the Vatican's piling debt. "They wanted someone who could get the Vatican back in order, remember it currently runs an €80million deficit, and it has a €600million hole in its pension fund amongst a lot of other things," Dr Pattenden added. "So, there is a lot that needs sorting out." The new pope will also need to navigate a growing but also more diverse Catholic Church that is pulling in both more conservative and liberal directions. Dr Pattenden told The Mirror: "He's got a difficult challenge keeping together different groups, which are typically different in their interests. The church is growing in Africa and Asia as well as growing among a certain kind of conservative constituency in Europe and North America. "The conservatives in Europe and North America are attracted by the traditional rituals, which is the exact opposite of the kind of charismatic, folksy approach that we see in Asia. How he balances those different conditions that the church should celebrate is one problem as is the social teaching. "There are plenty of Catholics who want to see a very traditional teaching but there are also plenty of Catholics who are more in line with the norms of Western society," he added.
New European
05-02-2025
- Politics
- New European
How Europe can lead in the age of Trump
How should Europe respond to Trump? The very first thing is to change the narrative. Europe must shift from talking about how we should respond – a reaction putting us on the back foot – to talking about the new opportunities where we can lead. First, take climate change. Trump's impact on climate change itself can only be negative. Nevertheless, his reversal of the US move away from fossils opens an opportunity for Europe and Asia. Necessity is the mother of invention, and by sticking with fossil fuels, Trump is removing the need for the US to adapt. Now is the chance for Europe and Asia to make the innovations that are needed if the world is to survive. Second, take the uncertainty for business investment that a Trump presidency creates. Who will be holding his hand as he signs yet more executive orders – the traditional MAGA crowd, or the techies? No-one knows. It may well flip from one to the other and back. Then add in boom and bust. Business will hate this uncertainty. Thus the more stable Europe can seem, the more attractive it becomes. This will be difficult for the EU right now, given the uncertain political climate in France and Germany, but it could be a good moment for the UK. Third, consider the position of skilled labour and, most especially, high-end, talented immigrants. Just think of the many clever people in Silicon valley and the top US universities who now fear for their future. European universities and European high-tech firms are in a perfect position to gain from this – provided they have the sense to be welcoming. Think finally about where Europe's comparative advantage lies. The language in Brussels currently emphasises the need for Europe to be 'more competitive'. Translated, this means more deregulation. But, in many areas this will be exactly the wrong move. The question to ask is 'Why does the regulation exist?' If it is for a good purpose you want to promote it – indeed to sell it – not abandon it. For example, no-one wants their kids harassed with pornographic images, or their social media flooded with hate speech. We regulate against these practices for good reason. Similarly, the evidence of the damage to our health was there for cigarettes and will soon be there for ultra-processed foods. In other words, Europe should emphasise why standards matter to everyone. Well-chosen standards, not our lack of competitiveness, have the scope to be our comparative advantage. Trump's erratic door slamming opens many opportunities. Europe needs to get on the front foot and take them. Dr Andrew Graham is Chair of the Trustees of the Europaeum, and former Master of Balliol College, Oxford
New European
05-02-2025
- Business
- New European
Counting the costs of Donald Trump
Last Thursday, 30th January, the Europaeum – a network of 17 leading universities in Europe, based at Oxford University – held its first online seminar on global issues. The subject could not have been more topical: 'Trump 2.0: Implications for Europe, America, and the world'. The New European is partnering with the Europaeum to bring the discussion to a wider audience. We asked the five speakers to set out their key arguments in short pieces which we have pleasure in publishing today. Leslie Vinjamuri of Chatham House explains how Trump 2.0 is already proving much more ambitious and challenging to Europe than Trump 1.0 on multiple fronts. Ian Lesser of the German Marshall Fund defines Donald Trump's 'revolutionary' foreign policy as based on nationalism, unilateralism and geopolitics. Jacob Funk Kirkegaard of Bruegel and the Peterson Institute argues that the next four years could be marked by higher inflation and a boom-bust cycle in the United States. Suzanne Schneider of the Brooklyn Institute points to the contradictory pressures in Trump's new right coalition, each undermining market economics and dismantling the Reagan-Thatcher revolution. In drawing the threads together, Andrew Graham, the chair of the Europaeum who was Master of Balliol College, Oxford, looks to opportunities for Europe, as well as threats, as we negotiate the coming challenges of Trump's second term. If you would like to hear the full debate, you can do so by going to the following web link on YouTube. The Europaeum will be organising regular online seminars, which will also be featured in these pages.
