What to make of the EU decision on funding for Ukraine? It is a good outcome in my opinion. Here is why:

This is a good point. As is the whole thread.

One additional point on politics: Without the very strong push especially from Berlin for the use of the Russian assets, Orbán would most likely not have agreed to this lesser-evil solution from his (and Putin‘s) perspective. The threat was real, and he caved.

🇪🇺⚖️🇵🇱 Revenge is a dish best served cold (and after five years). Moments ago, CJEU, in the case Commission v. Poland, found that the Polish Constitutional Tribunal has not only violated EU law with its anti-EU rulings, but also was (is) not an independent court established properly by law. 1/

Stephen is spot on. This should be obvious. Of course we need to enforce laws and control borders, but that's because unenforced laws are not laws and a border is only a border if it's controlled - not because otherwise people will unwittingly turn into the racists that they otherwise wouldn't be.

Don't steal pies this Christmas.

This is correct and useful, except for 3 things: - the money is not in fact a lot for the EU, a 20tn/year economy. A few % of GDP would let Ukr win - even simpler is of course to force Russia to pay, ie transfer its holdings to Ukr - the rep loan still leaves EU governments fiscally on the hook

"On ad-tech and AI, Google must implement EU-equivalent transparency and anti-self-preferencing obligations in South Africa and extend any future EU or US structural remedies within six months of implementation" #BrusselsEffectForReal

Spot on. Moment of truth for Paris and Rome. Is France serious about strategic autonomy or is it just a vacuous talking point once Europe hits real trade-offs? And is Italy with Europe and Ukraine or Moscow and Washington?

The EU has taken the gloves off internally by forcing through an indefinite freeze of Russian state assets over Hungary's objections. It should learn from that boss move that it can succeed by flexing more muscle internationally too. www.ft.com/content/3dc7...

In case anyone at the DOJ reads my feed, I want to offer a little patriotic help to you in your search for the headquarters of Antifa. It's in Arlington National Cemetery.

Every article about Musk in every media outlet should be accompanied by this photo. He did this twice at the biggest political event of 2025. It's not a secret. He never apologized. Why is this not the standard file photo?

This is really incredible. The government's battle to deport Abrego Garcia has apparently been based on a lie from the start. Not even the "gang affiliation" lie or the "human smuggling" lie, but the more basic assertion that he was ordered to be deported in the first place.

“When we are together, we are strong.” As Roman was telling his story at the European Parliament, people couldn’t hold back tears💔 What this boy endured is beyond heartbreaking. He witnessed russia killing his mother and underwent 36 surgeries. But he persevered and is never giving up.

Watch the whole thing. Absolutely chilling.

Excellent no-nonsense summary of the issues here.

Good piece by @plegrain.bsky.social - thanks for mentioning my "bad bank" proposal for the blocked Russian reserves.

Good interview with @president.ecb.europa.eu talking to my colleague Martin Wolf. The most striking thing she said IMO was the strong call (personal, not @ecb.europa.eu's) for EU common borrowing for joint defence spending.

This was a very good (and appropriately heated!) discussion.

posting especially for the Macron, Merz & Downing St staffers. Please share with your bosses

Great essay from @martinsandbu.ft.com highlighting the stumbles Europe is making - born of the usual conservatism on risk sharing - on Russian assets. Citing our @peacerep.bsky.social report on the Russian economy he points out, Europe has leverage but lacks the will. www.ft.com/content/fb01...

Et c'est le Financial Times qui le dit.

Very interesting by @martinsandbu.ft.com. The EU can easily afford to support Ukraine -- indeed, it cannot afford not to: were Ukraine to lose the war, crippling increases in defence expenditure would be required. But the Belgian veto could be overcome by ECB in its banking supervisory role!

@martinsandbu.ft.com makes this 100% correct point responding to @edwardluce.bsky.social, but remains optimistic that Europe is gradually feeling its way towards a tougher approach to Russia. Here's hoping the optimism is warranted.

"Trump, in his way, is as much of a wolf as Putin. Europe has run out of excuses to pretend otherwise". My Swamp Notes with @martinsandbu.ft.com on why Europe must make those frozen Russian assets work for Ukraine. The time for that is now. as.ft.com/r/9144c41b-7...

Feels like the right day to re-up this. as.ft.com/r/445786e4-5...

This was a good conversation with Martin Wolf and Michael Goldfarb @mgemancipation.bsky.social frdhfirstroughdraftofhistory.substack.com/p/europe-202...

**FT GRAD SCHEME** applications are now open. Incredible opportunity for young wannabe hacks. Spread the word: job-boards.greenhouse.io/financialtim...

The transatlantic alliance is over. Deal with it. (Here's how to start.) as.ft.com/r/b6825b00-f...

urgent call to decouple: three elements of a plan to make Europe stand (in its own feet) again - recommended reading for EU politicians & entrepreneurs by @martinsandbu.ft.com @volteuropa.org @reneweurope.bsky.social @ecb.europa.eu on.ft.com/3Y0QwI8 Europe needs a plan for decoupling from America

Couldn't agree more with this point and article by @martinsandbu.ft.com The EU has a ready-made tool – the Anti-Coercion Instrument – designed precisely for these situations. Next time the U.S. threatens tariffs on Europe, the EU should use the ACI to target Big Tech. www.ft.com/content/89f1...

"It is time for a European policy plan for EU-US decoupling with steps to minimise the harm Maga America is able to inflict on Europe. Such a plan must cover at least three areas: trade, finance and defence" by @martinsandbu.ft.com

@martinsandbu.ft.com (generously) discussing our plan with Moritz Schularick and Philipp Hildebrand for joint financing of next generation defence capabilities (and their spillovers). @kiel.institute @voxeu.org @cepr.org

What's the matter with Germany, redux. www.ft.com/content/c2e2...

Surely the others have to strip the US of the G20 presidency next year then?

Very interesting conversation between @brankomilan.bsky.social and @martinsandbu.ft.com about the rise of national market liberalism.

Would you look at that.

New: 'Shark's fin' chart reveals the uneven impact of 'fiscal drag', the stealth tax beloved of recent chancellors. Plus use our interactive calculator to see how fresh freezes announced by Rachel Reeves at todays Budget could affect you on.ft.com/3KqOYUL

Remember when the trump administration colluding with the Kremlin was a "democrat hoax"?

Listing the Jews rarely ends well for the Jews.

This is bad.

The ethics council to the vast Norwegian sovereign wealth fund (largest in the world) has been suspended by the Norwegian government. Important & troubling piece by @martinsandbu.ft.com www.ft.com/content/f6b3...

intriguing option for meaningful European integration and progress: on.ft.com/4i02cEi Coalitions of the willing are Europe’s path to ever closer union (by @martinsandbu.ft.com)

Coalitions of the willing are Europe’s path to ever closer union by @martinsandbu.ft.com www.ft.com/content/370f... A more pragmatic form of federalism could be the key to unlocking progress on important issues

[Opinion] #FutureOfEurope: Coalitions of the willing are #Europe’s path to ever closer union, by @martinsandbu.ft.com | Financial Times www.ft.com/content/370f...

Coalitions of the willing are Europe’s path to ever closer union- The outbreak of low-level coalitions of the willing suggests the time is ripe for smaller countries to dare to take their own leaps forward on issues… www.ft.com/content/370f... @martinsandbu.ft.com @financialtimes.com

The German question.

== And finally, it could be as simple as German industry being a bit more tied to the past and unwilling to adapt to changing technology and demand, and that, as a result, it is weathering the current transformation worse. == you will not read more to the point bullseye analysis about Deutschland

Great rundown by @martinsandbu.ft.com on the complex roots of Germany’s economic malaise - plus a very welcome shout-out to our proposal with @sandertordoir.bsky.social and @lucasguttenberg.bsky.social for coordinated Buy European EV clauses as part of the fix. on.ft.com/4plaPvt

Is there a simple explanation for Germany's stagnation? @martinsandbu.ft.com says no (it might be a polystagnation!). Still, could there be a straightforward solution? @martinsandbu.ft.com says yes: fiscal expansion and stronger demand for European production. www.ft.com/content/a97f...