Friday

29th Mar 2024

Ticker

Turkey snubs Nato with Russian arms deal

Turkey has signed a deal to buy €2bn of Russian S-400 anti-aircraft missiles instead of Western-made alternatives in a snub to Nato allies. Recep Tayyip Erdogan, the Turkish leader, had complained that the alternatives were too expensive. The deal also comes amid a Turkish-US dispute over the extradition from the US of Erdogan's political nemesis - Islamic guru Fethullah Gulen - and a Turkey-EU dispute over Erdogan's human rights abuses.

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Opinion

EU Modernisation Fund: an open door for fossil gas in Romania

Among the largest sources of financing for energy transition of central and eastern European countries, the €60bn Modernisation Fund remains far from the public eye. And perhaps that's one reason it is often used for financing fossil gas projects.

'Swiftly dial back' interest rates, ECB told

Italian central banker Piero Cipollone in his first monetary policy speech since joining the ECB's board in November, said that the bank should be ready to "swiftly dial back our restrictive monetary policy stance."

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