3 d. ago Europe's race to rearm is pointless if its adversaries are waging war online | Johnny Ryan

Ireland holds the algorithm off-switch. Ursula von der Leyen must force Dublin to use itEurope is scrambling to remilitarise. The European Commission is raising a €150bn (£129bn) defence fund and is calling on EU countries to invest €650bn (£561bn) more. Germany has cast aside its government debt limit to invest hundreds of billions of euros in defence. Poland will train every male of fighting age for battle, and envisages an army 500,000 strong. Latvia’s president has urged the rest of Europe to conscript citizens, as Latvia does. Even neutral Ireland is buying combat jets. No wonder Europe’s defence industry is booming. In just a few months, the share prices of several big weapons manufacturers have nearly doubled and doubled again. But, despite this new martial pulse, the continent is still sleepwalking towards disaster.Europe can harden its shell and sharpen its claws, but it has done little to protect its soft underbelly against political manipulation. The US is capitulating to...

Events

6 d. ago Donald Trump is now badly wounded. Europe can seize an advantage | Will Hutton

It’s time to fashion a new global trade order without the USThe game-changing geopolitical event last week was the near collapse of the immense $29tn ­market in US government debt, threatening the stability of the American and global financial system and the safe-haven status of dollar assets.The US president boasted as the collapse unfolded that world leaders were queueing to “kiss his arse”. Twelve hours later, he was in the same humiliatingly weak position as the then British prime minister Liz Truss found herself after her tax-slashing “mini-budget” in 2022. The markets had forced him to pause for 90 days the swingeing range of “reciprocal” tariffs that he announced on what he proclaimed “liberation day”; instead he lowered all of them, bar that on China, to 10%. Continue reading...

Politics

7 d. ago Trump's reckless tariff policy and determination to cut taxes means he will have to borrow trillions at a time when the interest rate on government debt is spiralling

Trump's economic policies may seem like a great idea to those he's surrounded himself with in the White House - but to sensible people they threaten to send inflation spiralling and make us all poorer

Politics

7 d. ago Liquidity worsens in $29tn Treasury market as volatility soars

US government debt on course for worst week since 2019 as traders report worsening liquidity

Economics

9 d. ago US government debt sinks as pivotal $39bn Treasury auction looms

Investors contend with fallout as Donald Trump’s sweeping tariffs come into effect

Economics

1 week ago US Treasuries drop for second straight day after disappointing $58bn auction

Weak demand at auction of three-year government debt heightens investors’ angst

Economics

1 week ago US Treasuries drop for second straight day after weak demand at $58bn auction

Lower than expected purchases of three-year government debt add to investor angst

Economics

1 week ago US government debt sells off as hedge funds cut down on risk

10-year Treasury yields jump most in almost three years

Politics

1 week ago Rachel Reeves caught joking about government debt in ‘hot mic’ moment

Rachel Reeves was caught joking about government debt in a ‘hot mic’ moment during a visit with Keir Starmer to a Jaguar Land Rover plant in the West Midlands on Monday (7 April).

Politics

3 w. ago Rising debt and spending demands: the squeeze on Britain’s finances — in charts

UK gross government debt rose from 85.7% of GDP in 2019 to 101.8% in 2024

Economics

4 w. ago German parliament's upper house gives final approval to huge defense and borrowing package

The prospective next German government’s plans to enable higher defense spending by loosening strict debt rules and to set up a huge infrastructure fund that’s aimed at boosting Europe’s biggest economy have cleared their final parliamentary hurdle with approval by the upper house

Politics

4 w. ago Dismantling of education department casts US student loans into uncertainty

Doubts that whatever remains of department can govern student debt as one in four US adults under 40 has loansDonald Trump ordered the dismantling of the US Department of Education on Thursday, prompting uncertainty for those holding student debt and questions about what happens next.Trump’s press secretary told reporters earlier on Thursday what remained of the department would continue to govern student debt. Continue reading...

Politics

4 w. ago Government debt costs in richest nations at highest since 2007

Payments by OECD countries outstrip amount spent on defence, police services and housing, report findsBusiness live latest updatesThe cost of government debt payments in the world’s richest nations last year reached its highest level since 2007, outstripping the amount spent on defence, police services and housing, a report has found.Across the 38 members of the Organisation for Economic Co-operation and Development (OECD), debt service costs as a percentage of national income rose to 3.3% in 2024, from 2.4% in 2021. Continue reading...

Politics