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We've been hearing explosions in Kyiv for several hours now. It hasn't scared me for a long time. It's just that the fatigue from constant lack of sleep is accumulating. And every time you find out who died after another Russian shelling of peaceful cities. War is a lottery.

Not everything is lost in this world. Sorrentino back in Venice, in competition. Grazie, Signore, per questo momento.

EU-USA trade talks continue, but the central issue for the Europeans remains unchanged: what level of asymmetry are they willing to accept in the interest of a deal. Response ranges from “we’re close to a skeleton of a deal” to “much left to be addressed” over the weekend. On the

Spain is withdrawing its candidacy to lead the eurogroup, per sources. Vote due today. El ministro Carlos Cuerpo retirará su candidatura al eurogrupo según informan fuentes al no contar con la mayoría necesaria. El ministerio habla de mantener la unidad dentro del eurogrupo.

President Trump: "We get a lot of bullshit thrown at us by Putin, if you want to know the truth. He's very nice all the time, but it turns out to be meaningless."

Brazil was set for a 10% tariff on Liberation Day. Now it’s heading for 50% in biggest jump yet. What changed? Trump sided with Bolsonaro and Lula argued the BRICS don’t need an emperor. Trump vs Lula, the battle royale. This has nothing to do with trade deficits, it’s politics.

I can’t spend too much time in Rome. It makes me want to quit everything, move here and go by the name of Flaminia.

In letter, Trump announces 30% base tariff on the European Union. That compares to initial tariff rate of 20% on Liberation Day. After weeks of talks, the rate would go up and doesn’t mention any sectoral relief. If this applies August 1st, the EU would be worse off vs April. So

European ambassadors meeting tomorrow 1530pm Brussels. French suggest time to speed up countermeasures, including the anti-coercion tool. Spanish say response should be firm. Yet several MS believe the 30% tariff is “part of a pressure strategy, it’s a tactic….to justify the

Von der Leyen says EU to suspend countermeasures to early August, while preparing retaliatory measures in case of no deal. Asked about the anticoertion tool, she says it’s designed for “extraordinary situations - and we’re not there yet”.

Los aranceles 2.0 de Trump tienen un triple objetivo. El primero, crear un flujo de caja para financiar la agenda MAGA. Segundo, reforzar el sector productivo USA (desmantelando al resto) y el alineamiento político. La encrucijada europea. legrandcontinent.eu/es/2025/07/12/…

European trade commission (body language of a funeral on Monday morning) puts it best: under a 30% tariff regime, the transatlantic trade relation disappears as we know it. It’s prohibitive. It’s gone.

It’s a fair observation - but the quality of a negotiation is measured by the outcome. Over the weekend, a minister told me “the 30% is happening because we’re not caving”. Ultimately, this deal flies or flops based on the level of symmetry & regulatory autonomy, not a deadline.

The Commission has presented what it calls a bigger and smarter budget for a rough world. Two trillion euros. The real number is less if you look at it as a starting point for negotiations, price adjustments, repayments and pending own resources (good luck). Fit for Draghi’s

I spoke with EU sanctions envoy O’Sullivan who told me: «there’s no easing of sanctions - the 18th package is one of the strongest. You’ll see it». This morning: two Chinese banks listed, a Russian-owned India refinery, price cap revised. geopolitique.eu/en/2025/07/15/…

UK joins EU price cap move. "UK and EU lower the crude Oil Price Cap, striking at the heart of Putin’s oil revenues. New measure will drive down the market value of Russian oil, disrupting the flow of oil money into Putin’s war chest."

Last week, a Catholic Church was hit in Gaza prompting a furious reaction from the Italian govt. Israeli authorities apologized. Today, Rome signs a declaration calling for an “end to the war now”. Italy, one of the strongest supporters of Israel at the EU level. The tone has

Extraordinary pushback from the European Union which until now presented Ukraine as the model student in the very complex process of accession to the EU. Commissioner Kos who runs the file:

This is a headache for the EU. Commissioner Kos spoke with the new Ukrainian PM today, argued move would be seen as a step back and rule of law is at the core of accession. Brussels determined to show Ukraine’s accession process is merit-based, not political. It’s hard to

Mood is EU-USA moving closer to a deal with a base rate 15% tariff as landing zone. Sector exemptions pending - and that’s important. Commission initially pitched zero for zero tariffs. That’s a long way. If no deal, Brussels sees 93 billion worth of USA goods targeted with