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4 days ago
- Politics
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Ignored for Alaska talks, Zelenskyy serves a warning: Putin will try to ‘deceive' Trump on ceasefire
Sidelined in the Alaska summit, Ukrainian President Volodymyr Zelenskyy has warned US President Donald Trump against deception by Vladimir Putin. The warning came as he and European partners pressed Trump to not give a free pass to the Russian leader. As US President Donald Trump prepares to host Vladimir Putin in Alaska, Ukrainian President Volodymyr Zelenskyy has warned that the Russian leader intends to 'deceive' the United States. But the Russian leader is not his only concern. Zelenskyy and his European partners are primarily concerned that Trump could cut a deal with Putin about the Russian war in Ukraine without Ukraine's involvement. They are also concerned that Trump could pressure Ukraine into a deal friendly to Putin, such as accepting his demand of handing over the entire eastern Ukraine's Donbas region to Russia as a condition to end the war. STORY CONTINUES BELOW THIS AD Amid such fears, Zelenskyy has spend recent days putting up a united front with European leaders and conveying to Trump that any deal without Ukraine and Europe's participation and approval will be meaningless. To make it crystal-clear, Germany will convene a summit of Ukrainian and European leaders, including the European Union (EU), with Trump and his deputy JD Vance on Wednesday. Ahead of the Europe-US summit, Zelenskyy warned, 'We understand the Russians' intention to try to deceive America. We will not allow this. I greatly appreciate the determination of President Trump to stop the deaths in war. Many people give their lives every day. But the only root cause of these killings is Putin's desire to fight and manipulate everyone he comes into contact with.' Even as Zelenskyy and European leaders press Trump to not be deceived, they are well aware of the president's record so far. He has not taken any punitive action so far and has instead trashed Ukraine time to time — including on Monday when he slammed Zelenskyy for not surrendering Ukraine's territories to end the war. Even when his deadline passed last week and Putin did not agree to a ceasefire, Trump did nothing and instead announced the summit in Alaska. Trump sets low expectations as Zelenskyy considers concessions Ahead of the Alaska summit, Trump has set the expectations low, saying that it would be a 'feel-out meeting' intended to see if the Putin was ready to reach an agreement. He said that he would know within the first two minutes of the meeting whether the Russian leader wanted to end the war. Trump has said that any deal would involve 'some swapping of territories'. Zelenskyy has rejected giving any handover of Ukrainian land to Russia, saying that Ukraine 'will not give Russia any awards for what it has done' and that 'Ukrainians will not give their land to the occupier'. Zelenskyy further said, 'Any decisions that are without Ukraine are at the same time decisions against peace. They will not bring anything. These are dead decisions. They will never work.' STORY CONTINUES BELOW THIS AD Zelenskyy, however, is willing to cede territory that is already controlled by Russia, which would freezing battle lines, according to The Telegraph. However, Zelenskyy is not willing to cede any Ukraine-held territory to Russia and the surrender of Russia-held territories would be subjected to conditions like security guarantees, the report said. Separately, The Associated Press reported Ukrainian officials as saying that Zelenskyy would be willing to sign a peace deal that would de facto recognise Ukraine's inability to regain lost territories militarily. The report suggests that Zelenskyy would be willing to see de facto recognition of Russia-controlled territories but no de jure —legal— recognition.
Bloomberg
07-04-2025
- Business
- Bloomberg
The Freight Recession Isn't Going Anywhere Now
There's an old saying that all goods eventually get carried by a truck. Don't forget that those goods also likely were hauled by ships and trains and stored in a warehouse. With that in mind, look to the logistics industry for some of the first clues of how the economy and the business world will deal with the new reality of a protectionist US that President Donald Trump has set in motion. Although the reaction in the stock market to Trump's bid to upend global trade by implementing historically high tariffs has been swift and extremely negative, it will take some time for the impacts to take hold on how goods and production capacity are shuffled around the world. Expect the Asia-US and Europe-US shipping routes to suffer a drop in demand, while Latin America, which mostly dodged the heftiest tariffs, enjoys an increase. A decline in freight demand that portends weak consumer spending and even recession will exacerbate the glut of shipping and trucking capacity that has hung over the industry since the height of the pandemic.
Local Germany
14-03-2025
- Business
- Local Germany
BREAKING: German parties reach deal over huge spending plan
Merz told reporters that the deal was "a clear message to our partners and friends but also to the enemies of our freedom: we are able to defend ourselves", adding: "Germany is back". The plan jointly put forward by Merz's centre-right CDU and the centre-left Social Democrats (SPD), who are currently in coalition talks, would see defence spending exempted from the country's constitutionally enshrined debt brake when it exceeds one percent of GDP. Fraying Europe-US ties under President Donald Trump and his pivot away from supporting Ukraine have fuelled calls for Germany, long dependent on the US security umbrella, to quickly ramp up military funding amid signs of increasing Russian aggression. The government-in-waiting also plans to set up a €500 billion special fund for infrastructure spending. Friday's deal follows several days of often acrimonious debate during which the Greens had threatened to withhold their support, citing insufficient action on the environment in the spending plan. The Green party's votes are needed to reach the two-thirds majority in parliament required to modify the debt brake. A vote on the plans is due on Tuesday. Merz -- whose conservatives came first in February elections -- said that after talks with the Greens it had been agreed that €100 billion of the infrastructure fund would be dedicated to climate protection measures. 'Alarming situation' On Thursday Merz had urged a quick agreement on the issue during a fiery parliamentary debate. When it came to the armed forces in particular, "any further delay" in boosting spending "would be irresponsible", he said. "In view of the alarming security situation in Europe in every respect and the growing economic challenges in our country, far-reaching decisions... cannot be postponed any longer," Merz told lawmakers. Stressing that action needed to be taken quickly, SPD parliamentary leader Lars Klingbeil told MPs: "When history knocks at our door, then we must open it -- we don't know if we will have a second chance." The incoming government is keen to get the spending plans approved before the newly elected parliament convenes at the end of this month. In the new chamber the far-right Alternative for Germany (AfD) and the far-left Die Linke, who both oppose the plans, would have the numbers necessary to block them. Both parties have filed legal challenges against the spending plans at the constitutional court, arguing there will be insufficient time for consultations.
Local Germany
13-03-2025
- Business
- Local Germany
Germany's Merz urges MPs to back spending bonanza in fiery debate
Merz's conservatives and the centre-left Social Democrats (SPD) -- in talks to form a coalition after February's general election -- unveiled the plans for vast extra outlays last week, and are now racing to push them through the current legislature. "In view of the alarming security situation in Europe in every respect and the growing economic challenges in our country, far-reaching decisions... cannot be postponed any longer," Merz told lawmakers at the start of the debate. When it came to the armed forces in particular, "any further delay" in boosting spending "would be irresponsible", he said. "We must now take action to significantly increase our defence capabilities, and we must do so quickly." Fraying Europe-US ties under President Donald Trump have fuelled calls for Germany, long dependent on the US security umbrella, to quickly boost military funding, while infrastructure spending is seen as a route to pull Europe's top economy out of stagnation. Merz's plans envisage exempting defence spending from the country's strict debt rules when it exceeds one percent of GDP and setting up a €500 billion fund for infrastructure investments. While the plans have won praise from German allies abroad, who grew weary of inaction under outgoing Chancellor Olaf Scholz, Merz faces a desperate scramble to push them through parliament. 'History is knocking' As the measures involve a change to the constitutionally enshrined "debt brake", which limits government borrowing, they require a two-thirds majority in parliament. This means that Merz's CDU/CSU bloc and SPD want to get them passed before a new parliament convenes later this month in which far-right and far-left parties, who have expressed scepticism about extra defence spending, will be in a position to block the measures. Stressing that action needed to be taken quickly, SPD parliamentary leader Lars Klingbeil told MPs: "When history knocks at our door, then we must open it -- we don't know if we will have a second chance". But there are hurdles ahead, particularly after the Greens -- whose votes are needed to reach the two-thirds mark -- threatened to torpedo the plans, complaining they were rushed and did not do enough for climate protection. Green lawmaker Irene Mihalic criticised the attempt to force through major changes to the constitution "with the old majorities" in parliament, rather than waiting for the new parliament to convene. Such a manoeuvre "shows complete ignorance of the reality in our country and of this parliament, and I fear it damages trust in politics as a whole," she said during the debate. Legal challenges Parliament is convening for two special sessions to debate the measures, on Thursday and also next Tuesday -- when a vote on the proposals is also to take place. Merz's plans also face another threat with both the far-right Alternative for Germany (AfD) -- which came second in the election -- and the far-left Die Linke party having filed legal challenges at the constitutional court, arguing there will be insufficient time for consultations. Chairman of the Germany's Social Democratic Party (SPD) Lars Klingbeil comes back to the plenary during a debate at the Bundestag (lower house of parliament) in Berlin on March 13th, 2025. Photo: Tobias Schwarz / AFP If Merz fails to get his plans through, observers fear he would lose momentum and his future government could face the same paralysis that beset Scholz's ill-fated, three-party coalition, whose November collapse precipitated last month's election. The pressure has only increased on him in recent weeks as Trump has become increasingly hostile towards Ukraine and made overtures to Russia. Still, the incoming government would have options to boost spending if the current parliament fails to pass the plans next week, analysts said. Merz's conservative bloc and the SPD are also due to begin full-fledged negotiations on forming a coalition Thursday after concluding exploratory talks at the weekend. The fate of the spending plans could have a bearing on these talks, noted Der Spiegel news outlet. A failure to push them through parliament "would possibly also put an end to the coalition negotiations", it said. By Jastinder Khera with Sam Reeves in Frankfurt
Yahoo
13-03-2025
- Business
- Yahoo
Germany's Merz urges MPs to back spending bonanza in fiery debate
Germany's likely next leader Friedrich Merz said Thursday urgent action was needed to boost the country's under-resourced military and ailing economy, as he defended plans for a spending bonanza during a fiery parliamentary debate. Merz's conservatives and the centre-left Social Democrats (SPD) -- in talks to form a coalition after February's general election -- unveiled the plans for vast extra outlays last week, and are now racing to push them through the current legislature. "In view of the alarming security situation in Europe in every respect and the growing economic challenges in our country, far-reaching decisions... cannot be postponed any longer," Merz told lawmakers at the start of the debate. When it came to the armed forces in particular, "any further delay" in boosting spending "would be irresponsible", he said. "We must now take action to significantly increase our defence capabilities, and we must do so quickly." Fraying Europe-US ties under President Donald Trump have fuelled calls for Germany, long dependent on the US security umbrella, to quickly boost military funding, while infrastructure spending is seen as a route to pull Europe's top economy out of stagnation. Merz's plans envisage exempting defence spending from the country's strict debt rules when it exceeds one percent of GDP and setting up a 500-billion-euro ($545-billion) fund for infrastructure investments. While the plans have won praise from German allies abroad, who grew weary of inaction under outgoing Chancellor Olaf Scholz, Merz faces a desperate scramble to push them through parliament. - 'History is knocking' - As the measures involve a change to the constitutionally enshrined "debt brake", which limits government borrowing, they require a two-thirds majority in parliament. This means that Merz's CDU/CSU bloc and SPD want to get them passed before a new parliament convenes later this month in which far-right and far-left parties, who have expressed scepticism about extra defence spending, will be in a position to block the measures. Stressing that action needed to be taken quickly, SPD parliamentary leader Lars Klingbeil told MPs: "When history knocks at our door, then we must open it -- we don't know if we will have a second chance". But there are hurdles ahead, particularly after the Greens -- whose votes are needed to reach the two-thirds mark -- threatened to torpedo the plans, complaining they were rushed and did not do enough for climate protection. Green lawmaker Irene Mihalic criticised the attempt to force through major changes to the constitution "with the old majorities" in parliament, rather than waiting for the new parliament to convene. Such a manoeuvre "shows complete ignorance of the reality in our country and of this parliament, and I fear it damages trust in politics as a whole," she said during the debate. - Legal challenges - Parliament is convening for two special sessions to debate the measures, on Thursday and also next Tuesday -- when a vote on the proposals is also to take place. Merz's plans also face another threat with both the far-right Alternative for Germany (AfD) -- which came second in the election -- and the far-left Die Linke party having filed legal challenges at the constitutional court, arguing there will be insufficient time for consultations. If Merz fails to get his plans through, observers fear he would lose momentum and his future government could face the same paralysis that beset Scholz's ill-fated, three-party coalition, whose November collapse precipitated last month's election. The pressure has only increased on him in recent weeks as Trump has become increasingly hostile towards Ukraine and made overtures to Russia. Still, the incoming government would have options to boost spending if the current parliament fails to pass the plans next week, analysts said. Once Merz becomes chancellor -- likely in late April -- he could suspend the debt brake by invoking an emergency, as the previous government did during the pandemic, although this would only be a stopgap. Merz's conservative bloc and the SPD are also due to begin full-fledged negotiations on forming a coalition Thursday after concluding exploratory talks at the weekend. The fate of the spending plans could have a bearing on these talks, noted Der Spiegel news outlet. A failure to push them through parliament "would possibly also put an end to the coalition negotiations", it said. sr/jsk/lth
