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Europe
Hungary
Meeting of the European Political Community on 7 November 2024 in Budapest, Hungary will provide ample opportunities for bilateral or multilateral meetings during the day. The European Political Community aims to foster political dialogue and cooperation to address issues of common interest, to strengthen the security, stability and prosperity of the European continent. The global economy is heading towards fragmentation, impacting economic models. The fifth summit of the European Political Community will bring together leaders from across the continent to discuss the security challenges Europe is facing, issues related to Russia’s war against Ukraine, economic security and connectivity in terms of energy, transport, IT and global trade, all aspects of migration, including irregular migration and its instrumentalization, the ongoing escalation of deadly violence in the Middle East, conflicts and instability on the rise in Africa - all, that is putting peace, stability and prosperity at risk in our region. Discussions will begin with a morning plenary session on the security challenges, followed by four breakout sessions on the topics of migration and economic security. The chairs of each roundtable will report on the discussions at the second plenary session. The EU is represented by the President of the European Council, Michel. 47 heads of state and government were invited to take part in this fifth meeting. (Source: European Council)
November 7, 2024 Hungarian Prime Minister Viktor Orbán has hailed Trump's stunning comeback, as a "spectacular victory" and one of the "greatest comebacks in Western political history". Orbán was the first EU leader who openly endorsed Trump in 2016 and in the last two campaigns as well. Trump’s victory is expected to boost his ’radical’ rightwing agenda and widen his diplomatic room for manoeuvre. The Hungarian premier followed election night from Bishkek, Kyrgyzstan, where he was attending the summit of the Organisation of Turkic States (OTS). Orbán was awarded this year’s Supreme Order of the Turkic World by Kyrgyz President Zhaparov. "Mar-a-Lago calling. Just had my first phone conversation with President @realDonaldTrump since the elections. We have big plans for the future," he tweeted. At the OTS summit, Orbán praised the Republican leader for overcoming significant challenges, from legal battles to media opposition, and viewed his win as a morale boost for those "who believe in will, struggle, and perseverance". He stated plans to strengthen US-Hungarian ties, anticipating that Trump’s administration will revive the "golden era" after the Republican leader's first victory. He expressed hope that Trump’s approach could shift the global balance towards peace efforts. At the summit, Orbán called for a new EU strategy on Ukraine, questioning Europe’s ability to support it independently. He suggested that today’s summit in Budapest, bringing together 47 European leaders, including President Zelenskyy, could address this issue. One major topic is expected to be the €50bn loan package designated for Ukraine, which may require reassessment in light of potential shifts in US policy. Hungarian Foreign Minister Szijjártó also echoed Orbán’s optimism. He cited shared views on peace, immigration, and family policy, suggesting these alignments offer the best chance for peace in Ukraine after nearly three years of conflict. 'Despite the potential political advantages, Trump’s economic policies could prove detrimental to Hungary's interests, economists warned'. Concerns have been raised that Trump’s ’isolationist’ and protectionist measures could negatively impact Hungary’s export-dependent economy. 'Rising' US bond yields could have a major impact on monetary policy. The forint hit a new two-year low yesterday morning, trading at 412 against the euro, with bond yields rising and some analysts even believe that the Hungarian National Bank could be forced to raise rates if the currency slide continues. Yesterday, US Ambassador Pressman criticised Orbán’s actions, her frequent smear campaign targets, accusing him of treating the U.S. presidential election like a game of chance. ’Goodbye, Mr. Pressman, we will miss you!’ Fidesz faction leader Menczer wrote gleefully on social media. (Source: bne IntelliNews - Berlin)
by Csonka
The European Political Community
Thursday 7 November 2024 07:37, UK The European Political Community - which holds summits of every six months - was set up as a chance for the EU27 to meet wider partners such as the UK, Turkey and Caucasus nations to discuss key security challenges including conflict and irregular migration. The summit is hosted by Hungarian Prime Minister Viktor Orbán. Trump on the agenda as European leaders convene in Budapest. Hungary holds the rotating Presidency of the Council on the European Union in 2024 and Mr Orbán is delighted by Mr Trump's victory. Mr Orbán is regarded with suspicion by the rest of the EU because of his ties to Mr Putin. He told journalists at the European Parliament last month, he would be opening "several bottles of champagne if Mr Trump comes back". Mr Orbán is also a supporter of a negotiated solution to the Russia-Ukraine conflict, while most of the rest of the EU largely supports the integrity of Ukraine. The US result is likely to completely overshadow the discussions, as Mr Trump's approach to Ukraine - and whether he will try to force a peace plan in which the Ukrainians must give up territory - will dominate the agenda. We may get the first signals of how Europe will respond the events across the Atlantic. President Zelenskyy is attending. The migration session will be chairing by UK’s PM Mr Keir Starmer who will announce three new intelligence-sharing agreements with Balkan nations to crack down on people smuggling. But defence considerations are likely to be front and centre, with the prospect of the US disengaging from Europe, and pressure on NATO members who are not yet meeting the 2% defence spending target to step up. In a sign of the already changed atmosphere, the German defence minister, who met his French counterpart yesterday, said after Mr Trump's victory: "They'll be able to do less in Europe. We need to fill this gap to be more credible in terms of deterrence.’ A strategic debate on transatlantic relations will be held at a dinner set to be attended by European leaders today evening. (Source: Sky News)
by ’Cohen
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