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European allies are close to an agreement to provide Ukraine with loans secured by assets, avoiding asset seizure. The mechanism aims to support Ukraine's military and economic needs amid ongoing conflict, with a summit scheduled next week to finalize the plan.
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Eurozone growth remains weak, hindered by US tariffs and sluggish German and Italian economies. The ECB keeps rates steady despite the US Federal Reserve cutting rates. Meanwhile, the US faces rising debt levels, with the IMF warning of surpassing Greece and Italy in debt-to-GDP by 2030.
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ECB President Lagarde advocates for reforms in EU governance, corporate law, and mutual recognition to reduce internal barriers and boost growth. She praises recent increases in defense and infrastructure spending, emphasizing their positive impact on Europe's economy.
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Bulgaria's government resigned ahead of a no-confidence vote amid mass protests over corruption, economic mismanagement, and unpopular budget plans. The protests, involving over 100,000 people, reflect widespread dissatisfaction as Bulgaria prepares to join the eurozone on January 1, 2026. President Rumen Radev is expected to appoint a caretaker government and set new elections.
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Vietnam's Communist Party is selecting candidates for its upcoming leadership congress, with incumbent To Lam seeking a second term. The process involves key party officials and precedes national elections, shaping the country's political and economic future amid ongoing reforms.
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On January 1, 2026, Bulgaria officially switched from the lev to the euro, marking a major step in EU integration. The move comes despite political instability, protests, and public skepticism about inflation and national identity. The transition aims to boost trade and stability, but faces domestic opposition.