Paola Tamma
@paolatamma.bsky.social
EU correspondent at Financial Times Made in Italy. Email paola.tamma@ft.com https://www.ft.com/paola-tamma
💥 Germany and France have called for Ukraine to be granted just “symbolic” EU benefits in a semi-membership state that excludes farming subsidies and voting rights, dashing Kyiv’s hopes of fast-track accession to the bloc w @paolatamma.bsky.social & @christopherjm.ft.com as.ft.com/r/2ae0f7af-7...
France and Germany plan ‘symbolic’ EU membership benefits for Ukraine
Berlin and Paris say no to Kyiv accessing bloc’s budget and having voting rights until it becomes a full member
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“Nobody is in any mood to stage a grand spectacle around an agreement with Trump right now” said one official, adding that Greenland & the Board of Peace had “eclipsed” Ukraine at Davos w super crew @christopherjm.ft.com @paolatamma.bsky.social @mjruehl.bsky.social as.ft.com/r/4c0e37ac-6...
Trump row over Greenland derails Ukraine postwar deal
[FREE TO READ] Signature of ‘prosperity plan’ expected at Davos has been postponed amid transatlantic rift
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One year on, implementation of Mario Draghi's recipe for Europe's economic renaissance is shy and partial, as EU headspace has been preoccupied with crisis mode, analysis found. @alicemhancock.bsky.social @bmoens.bsky.social www.ft.com/content/4423...
Europe slow-walks Draghi plan as global rivals surge
A year after former Italian PM’s report on competitiveness, EU implements just 11% of his ideas
ft.com
Trump says Ukraine has to «get ready to sign something» and engage in «some swapping of territories» with Russia as he announces meeting with Putin in Alaska on August 15 - with Amy Mackinnon and @christopherjm.ft.com on.ft.com/3Hs3Y37
Trump to meet Putin in Alaska as he signals Ukraine may need to cede land
Volodymyr Zelenskyy rejects proposal and insists Ukrainians ‘will not gift their land to the occupier’
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EU halts retaliatory tariffs as it finalises US trade deal, in spite of tariff relief for cars, exemptions & quota system for steel and aluminium yet to be agreed www.ft.com/content/16c7...
EU halts retaliatory tariffs as it finalises US trade deal
Tariff relief for cars, steel and aluminium yet to be agreed
ft.com
Trump said he'll levy "rest of world" with tariff of "15 to 20pc range" aka same or slightly higher than what the EU got by lowering tariffs and committing to +1.3TN$ US purchases/investments. I expect this won't sit well with EU countries ... ft.com/content/d974... via @financialtimes.com
Euro fall accelerates on fears EU-US tariff deal will hit growth
Investors warned of damage to Europe’s export sector from trade agreement
ft.com
Breaking news: Donald Trump has given Russia a shorter window of 10 to 12 days to agree a ceasefire in Ukraine or face tighter sanctions, as his frustration with his Russian counterpart escalates. https://on.ft.com/4l3yDl8
In the aftermath of a handshake and thumbs up picture from Trump's Turnberry golf course - here is what we know of the US/EU trade deal (and what is yet TBD). With @alicemhancock.bsky.social @aimewilliams.bsky.social & Emily Herbert www.ft.com/content/85c5...
What have the US and EU agreed on trade?
Most exports from bloc to face 15% tariffs while European market will open to more American imports
ft.com
As public outcry over of Zelenskyy's power grab grows, @christopherjm.ft.com profiles the man behind Ukraine's wartime president: "Yermak has come to personify ..whether centralised powers imposed by the wartime administration might cripple Ukraine’s democratic future once the war ends"
Christopher Miller@christopherjm.ft.com · last yr.Unelected. Unapologetic. Uncompromising. Andriy Yermak is not Ukraine’s president. But he often acts like one. He handpicks government officials—and dismisses them. The prime minister and military brass frequently defer to him. My FT Mag profile of Ukraine's Green Cardinal www.ft.com/content/4d61...
Ukrainian President Volodymyr Zelenskyy’s controversial move to take control of his country’s anti-corruption bodies poses a risk to European funding and Kyiv’s path to EU accession, top European officials have warned. Story w/ @paolatamma.bsky.social @henryjfoy.ft.com www.ft.com/content/ef23...
Ukraine’s reform of anti-corruption bodies puts EU accession at risk, officials warn
Volodymyr Zelenskyy’s move to take control of two agencies has spooked allies in Brussels
ft.com
How NOT to prepare and present a budget proposal to ensure buy in from colleagues and eventually EU countries — who will have to foot the bill. With @henryjfoy.ft.com and @bmoens.bsky.social www.ft.com/content/c88e...
Von der Leyen botches €2tn EU budget proposal with chaotic infighting
Centralised and chaotic process has compromised launch of commission president’s spending plan, colleagues say
ft.com
The EU commission will unveil proposals for the bloc's next budget today - this is what we know so far: 1. the amount (TBC) would be a +60pc increase in current prices compared to present budget / continues www.ft.com/content/4dc4...
EU sets the scene for two-year fight with budget overhaul proposal
Also in this newsletter: Why the EU needs to step up its game on cloud computing
ft.com
Scoop🚨 Brussels will shift billions in EU funds eastward as it seeks to counter security threats from Russia, a leaked formula underpinning the distribution of the future budget shows. www.ft.com/content/c668...
EU budget shake-up to shift billions to eastern states
Leaked Brussels proposal suggests new method for distributing €750bn of farm and development funds
ft.com
In the big budget battle the EU is readying to fight for the next two years, one winner has already emerged: farmers, who secured their subsidies despite efforts to “modernize” the EU budget. Story with the indefatigable @alicemhancock.bsky.social on.ft.com/44jvTes
EU to ringfence billions of farming subsidies
Brussels reworks plans to protect direct income for farmers in new budget after pressure from industry
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EU plans ways to fill Ukraine’s budget gap in 2026 as Kyiv grapples with continued Russian attacks that dashed hopes of a ceasefire. With @henryjfoy.ft.com on.ft.com/45T0uAF
EU pushes to fill Ukraine’s $19bn budget gap next year
Brussels explores options including frontloading G7 loans to ease fiscal strains in Kyiv
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New 🚨The European Commission plans to propose a new joint debt instrument to tap capital markets in times of crisis, as part of the upcoming EU budget. Read it in @financialtimes.com www.ft.com/content/2f12...
Brussels to seek more joint debt in EU budget plan
European Commission to propose mechanism to issue common bonds to fund member states in emergencies
ft.com
NEW: G7 countries reach an agreement that would see US companies exempted from a global taxation deal – in exchange of the US abandoning retaliatory actions against jurisdictions perceives as having discriminatory taxation
Financial Times@financialtimes.com · last yr.US Treasury asks Congress to scrap retaliatory tax measure in Trump bill https://on.ft.com/44B4yV1
Ursula von der Leyen faces no-confidence vote over Pfizergate at the same time that she faces crumbling support from the liberals and left over a greenwashing directive, report my colleagues @andybounds.bsky.social + @alicemhancock.bsky.social www.ft.com/content/8162...
Ursula von der Leyen faces no-confidence vote over Pfizergate
Far-right motion relating to pandemic scandal threatens to derail European Commission president’s second-term agenda
ft.com
The 🇪🇺 commission is set to give equivalence to non-EU-issued stablecoins, disregarding ECB warnings that it may threaten financial stability. Story with @staffordphilip.bsky.social www.ft.com/content/97c7...
Brussels set to disregard ECB warnings over stablecoin rules
European Commission poised to propose treating stablecoins issued outside bloc as interchangeable with EU versions
ft.com
EU officials are considering using revenues from a new carbon tax on homes and petrol for the EU budget — a move that one EU official warned would be “completely toxic”. Scoop w/ @paolatamma.bsky.social @henryjfoy.ft.com on.ft.com/4e37WuV
EU weighs carbon tax on home heating and petrol to fill budget gaps
[FREE TO READ] Commission officials suggest using some revenues raised by unpopular levy due in 2027 to meet bloc’s wider needs
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EU mulls adding Russia to anti-money laundering list, under pressure from a majority of parliamentarians. Adding 🇷🇺 would likely result in approval of the list, which was voted down last year over the exclusion of 🇦🇪🇬🇮. Story w/ @andybounds.bsky.social www.ft.com/content/2fcd...
EU weighs adding Russia to money laundering ‘grey’ list
Moscow’s possible inclusion has ‘huge support’ as Brussels expects to adopt new listing next week after a delay
ft.com
Welcome to Europe’s Trumpageddon. Over the next five weeks, the continent must negotiate existential questions over its security, defence and economy with the mercurial US President, as officials fear being forced into a grand bargain that leaves Europe weaker and more vulnerable on.ft.com/3FF7h6g
Europe confronts Trump’s triple threat on Ukraine, Nato and trade
[FREE TO READ] Officials fear that the US president will play the big issues off against each other over five weeks of wide-ranging talks
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Bulgaria to join the €zone following years of delays and amid populist backlash. "We consider it a tangible sign of our European identity," PM Rosen Zhelyazkov told me. Story with Marton Dunai. www.ft.com/content/cfe4...
Bulgaria to join Eurozone in 2026
County’s populist pro-Russian forces continue to oppose adoption of the euro
ft.com
“Everything was built on the idea that Poland was going to reform fully when the president would be aligned with Tusk & if not things would be going sideways... Now things are going sideways” said @jakubjaraczewski.bsky.social Story w @paolatamma.bsky.social & @lauramdubois.ft.com on.ft.com/4kEoify
Poland’s new president puts EU billions and trade goals at risk
[FREE TO READ] Karol Nawrocki’s victory in the Polish presidential election will also strengthen Euroscepticism in central Europe, officials fear
on.ft.com
Polish electoral results, seen from Brussels: expect more friction with Warsaw over trade (Mercosur), rule of law (and connected cash flow) + a general sense of "what now?" With @henryjfoy.ft.com & @lauramdubois.ft.com bois www.ft.com/content/a5a6...
Poland’s new president puts EU billions and trade goals at risk
Karol Nawrocki’s victory in the Polish presidential election will also strengthen Euroscepticism in central Europe, officials fear
ft.com
The European Commission and G7 member countries 🇮🇹🇩🇪🇫🇷🇬🇧🇨🇦want to lower to $45/barrell an existing $60 price cap on Russian oil - but 🇺🇸 isn't playing ball. Our scooplet in this morning's Europe Express, alongside @andybounds.bsky.social' tireless trade reporting. Sign up! www.ft.com/content/ef47...
EU to keep calm and carry on in trade talks after Trump tariff reprieve
Also in this newsletter: Brussels strains to lower the Russian oil price cap
ft.com
To make sense of US/EU trade madness, the one person to follow is @andybounds.bsky.social. The man doesn't sleep. www.ft.com/content/1447...
Brussels starts to dance to Donald Trump’s tune
US president’s tariff escalation has helped unite leaders behind the commission
ft.com
EU to move on tobacco taxation under pressure from 15 EU countries & despite opposition from 🇮🇹🇷🇴🇬🇷. Scoop with @andybounds.bsky.social www.ft.com/content/21ca...
EU states urge Brussels to raise cigarette taxes and impose vape levy
Majority of members call on commission to press ahead with bill ‘without delay’
ft.com
The EU commission will likely escalate Romania's excessive deficit procedure in June, in a move that would start a process to withhold Bucharest's EU Funds. Details of Dan's fiscal time bomb, with Marton Dunai, via @financialtimes.com www.ft.com/content/efa8...
Romania’s new president faces fiscal time bomb
Nicușor Dan needs to appoint a government to curb spending and keep access to EU funds
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