The following day, German Defense Minister Boris Pistorius stated that Ukraine would receive 100 additional missiles for Patriot systems as part of the German initiative to strengthen the country's air defense.
- Donald Trump promised to end the war in Ukraine by the time of his inauguration if he is reelected US president.
- Finnish President Alexander Stubb said Beijing could end it with one phone call to Moscow if it wanted to.
- Hungarian Prime Minister Viktor Orban, the European Union leader who is closest to Vladimir Putin, pressed Ukraine for a ceasefire on a visit to the country.
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- What he did agree with is that China could broker a resolution to the conflict because of Russia’s reliance on the country.
- That’s as European officials warned that China is developing attack drones for Russia.
Ukraine's Zelenskiy Challenges Trump on Plans to End War
There was potentially some good news for Europe headed the other way, though. Zelenskiy said his county is in talks to pipe natural gas from Azerbaijan to help allies in the EU replace Russia as a supplier. Markets noticed, too. European benchmark has prices nudged lower after the comment. Now for a deal.
Around the Region
Hungary: Orban got a boost from Italian far-right leader Matteo Salvini for his new nationalist alliance. Marine Le Pen’s movement may follow in joining forces with the Hungarian premier.
Bulgaria: Former Prime Minister Boyko Borissov’s party tried to end political turmoil in the country and avoid yet another election. It failed to get enough support in parliament.
Czech Republic: The government is taking steps to increase domestic sales of foreign-currency debt to pay for public projects such as nuclear power plants, while staying away from Eurobond markets.
Ukraine: Russia’s invasion in February 2022 was a visible attack by a military on another sovereign state. But what are the hybrid techniques the country has also been using to undermine its adversaries?
Estonia: Prime Minister Kaja Kallas, a Russia hawk who was born and educated under Soviet occupation, was nominated by EU leaders to become the bloc’s chief diplomat.
Chart of the Week
Poland is reviving plans to help borrowers struggling to pay back mortgages. The six-month-old government previously has flip-flopped on aid, saying that it could overstimulate the housing market. Polish home prices grew at the fastest pace in the EU last year, helped by loan subsidies offered by the previous administration.
The Most Expensive Mortgages in the European Union
Poles pay the highest interest rates on average
Source: European Central Bank, last data for April
- Poland’s central bank left interest rates unchanged for a ninth month as policymakers expect inflation to accelerate. The Monetary Policy Council kept the benchmark at 5.75%.
- Hungary is turning the screws on commercial banks to buy more government bonds as a way to help fund a widening budget deficit. It wants holdings to increase by 1.3 trillion forint ($3.5 billion).
- The Czech budget deficit narrowed in June as the government collected more taxes than expected. The shortfall for the first six months of the year shrank to 179 billion koruna ($7.7 billion).
- Romanian lawmakers delayed a vote on extending the term of central bank Governor Mugur Isarescu until September.
- Turkey, Romania and Bulgaria started a joint mine-hunting force in the Black Sea to increase shipping safety, particularly for Ukrainian grain exports.
- NATO will hold a summit next week in a show of support for Ukraine with the alliance marking its 75th anniversary.
Romania’s election campaign hasn’t even started, and yet the sparring and horse-trading is well under way. The two biggest parties in the governing coalition were bickering over when to schedule the presidential and parliamentary elections. The Social Democrats wanted the votes in September to build on their success in EU and mayoral ballots in June. The Liberals, the junior party, pushed back, wanting more time to rebuild their battered support. They reached a deal to hold the presidential election on Nov. 24 with a potential second round on Dec. 8. The parliamentary vote to determine the next government will be held in between, on Dec. 1. Whatever the dates, one familiar theme remains the same: how to keep the far right away from power.
Russia says Patriot missiles for Kyiv won't help settle Ukraine conflict | Reuters
Third Patriot air defense system arrives in Ukraine
KHRYSTYNA BONDARIEVA , VALENTYNA ROMANENKO
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- Jaeger noted that the third Patriot air defense system from Germany has already arrived in Ukraine.
- He said that it would help improve the protection of the population and infrastructure.
- The Ukrainian crew has successfully completed the appropriate training to work with this system in Germany, the ambassador added.
- German Defense Minister Borys Pistorius said Germany was transferring a quarter of its own stock of these weapons to Ukraine, including the third Patriot system, and would not be able to provide any more.
- Romania also announced plans to provide Ukraine with a Patriot air defense system.
Scholz hailed Pistorius as an ‘extremely experienced politician,’ highlighting an apparent shortcoming of the minister who resigned.
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