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Europe Today: Macron treibt Eurobonds in Energiekrise voran, stößt in Brüssel auf Skepsis
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NewsTranskript
00:14Good morning, it's Tuesday, the 28th of April.
00:18I'm Marit Gwynne and this is Europe Today, your daily dose of news and analysis broadcast live here from Brussels.
00:26Coming up on today's show, Iran has offered to reopen the Strait of Hormuz if the U.S. lifts its
00:34blockade of Iranian ports, according to officials.
00:37U.S. Secretary of State Marco Rubio has rejected the offer as unacceptable.
00:42Meanwhile, the German Chancellor Friedrich Meertz has said the U.S. is being humiliated in talks with Iran.
00:49We'll bring you the latest.
00:50And with the U.S. and Iran locked in a standoff over the Strait of Hormuz, the European Union is
00:57facing a deepening energy shock with potentially far-reaching economic consequences.
01:02We look at whether the political response has matched the scale of the crisis.
01:07And China has publicly criticised EU plans to shield homegrown European industries with a so-called European preference in public
01:17procurement,
01:18saying it's discriminatory and vowing countermeasures.
01:23We ask what it could mean for the relationship between Beijing and Brussels.
01:28But first, this morning, against a backdrop of rising energy prices and warnings of stagflation,
01:36French President Emmanuel Macron has renewed calls for euro bonds,
01:40which is joint European debt issued by all 27 EU member states.
01:45But in Brussels, the proposal is being met with scepticism.
01:48For more, we can turn now to our Europe editor, Marietta Deo, who joins me in the studio.
01:53Good morning, Maria.
01:53Tell us first, why is the French President proposing this now?
01:57Well, Marietta, this is something that is not necessarily new coming from Emmanuel Macron,
02:02because he's always argued for this idea of a strategic autonomy for Europe.
02:06So this is a European Union that is able to operate independently in a global scenario,
02:11of course, in which you're seeing deep competition coming both from China,
02:14but increasingly the United States of America.
02:17He's always argued that in order to finance this autonomy, you will need joint debt.
02:23No single country in the European Union can do it alone.
02:26And obviously, we're talking about billions in investments.
02:30So it does make sense.
02:31And it matches his thinking that he's now put forward for many years.
02:35Nonetheless, the timing now, this is all looking into the June summit in which European leaders
02:41will gather in Brussels.
02:42Emmanuel Macron has already said for months that decisions,
02:45fundamental decisions when it comes to the European economy will have to be made.
02:49So they are trying to revamp the idea, looking into this gathering.
02:54At the same time, you're seeing, and you just alluded to this at the start of the show,
02:57this is a very complex geopolitical but also macroeconomic scenario for the EU.
03:03The financing costs, obviously, when you look at interest rates, which are going up,
03:07the cost of energy related to the situation in the Middle East,
03:10this adds a sense of urgency when it comes to the French,
03:13but not just because a growing number of countries, including Greece, by the way,
03:17but also the Spanish, they have all argued when it comes to not just new debt,
03:20but also the repayment of debt that was previously issued,
03:23especially at the time of the pandemic,
03:25these payments should be delayed beyond 2026
03:27because the urgency now means that the focus should not be on paying off debt,
03:32but actually investing in the future of Europe.
03:34What we should note, however, is that the German line,
03:37and that is crucial, has not really changed.
03:39They continue to say they're not in favour of more debt.
03:42The German Chancellor insists that the problem in Europe
03:44is really about productivity when it comes to its companies,
03:48but it's beginning now to lay out the scene for deep fundamental economic matters,
03:53which are also going to include, of course, the European budget
03:56and another round, potentially, of simplification,
03:59so meaning cutting off more red tape.
04:01I spoke with the economic commissioner last week,
04:04and he said expect more measures in that sense.
04:06And Brussels is also warning, Maria,
04:08that, you know, even if there's a peace in Iran tomorrow,
04:12there will be potentially very deep economic consequences.
04:15What has the response really been like from them?
04:17Yeah, you're seeing now a growing number of European leaders,
04:20including the German Chancellor, repeat that there is no exit plan from the US.
04:24It's not clear how this war is going to end.
04:26And at this stage, you have the Strait of Hormuz
04:29with the many ramifications that it has for the global energy market,
04:33which has been completely rattled by this war.
04:35However, it's under the grip of an Iranian regime that is totally volatile.
04:40We don't know who's actually leading those negotiations.
04:42And we're also seeing that the talks are not really making progress.
04:45So for the Europeans, the language has not really changed from it's a shock
04:49to now you are dealing with a crisis.
04:51Last week, the European Commission put forward measures,
04:54but it did not move the needle.
04:56There is a pressure still from the capitals that the commission needs to do more.
05:00There's also criticism that some of the big measures which could include
05:04well, counting out some of the energy costs from fiscal deficits and debt
05:09that should be tweaked at those parameters.
05:11There's also been now calls about suspending some of the green rules and legislations.
05:16There's been calls also about state aid that can work for some countries,
05:19but not others which do not have the financial capacity to pay for it.
05:23So you're still increasingly seeing capitals are asking for more.
05:26I was at an economic forum over the weekend.
05:28The response that I got from the industry is that this is much more severe
05:32than the language that you hear from the institutions
05:34and that they do want to see more measures, which for the time being, have not come.
05:39Okay, Maria, Tadeo, thank you so much for that analysis for us.
05:43Now, moving on, EU lawmakers are gathering in Strasbourg this week
05:46with a raft of issues on their agenda.
05:49For more, we can cross over now to the European Parliament in Strasbourg
05:53and to our correspondent, Vincenzo Genovese, who's there for us.
05:56Good morning, Vincenzo. Great to see you.
05:59Give us a sense. What can we expect from the Parliament today?
06:04Good morning, Maria. Good morning from Strasbourg.
06:07The European Parliament is voting today at noon on a report about rape legislation in the EU.
06:13The resolution calls on the European Commission to establish a common definition of rape,
06:18which is valid, which should be valid across all the 27 member states,
06:22and essentially says that any form of sex without consent should be considered as rape,
06:29which is not the case today all across the EU.
06:31So why is this important?
06:33I'll put that question to Abir al-Salani, a Swedish MEP, who has worked on the file.
06:39Good morning and welcome.
06:40Good morning.
06:40What's the key point of this vote?
06:42Well, it comes as a result of a failure from the previous mandate when we discussed the gender-based violence
06:49directive
06:50and where we fail actually in delivering this kind of legislation to women.
06:56And it comes with a very important timing, not only because of the backlash on gender equality issues globally,
07:06but also specifically in Europe, but also because of all these scandals that have been surrounding this topic,
07:13from the case of Madame Pellicot in France to the rape, so-called rape academy,
07:20where you drug women, where the partners drug women, they raped them and they streamed it online.
07:26So the violence has evolved against women.
07:29Sexual violence in Europe has evolved.
07:31Because nowadays the definition of rape is, in some member states, is linked to violence.
07:38Exactly.
07:38And many of these, let me just focus a little bit on the member states,
07:43where they actually were the ones pressuring us, the previous mandate,
07:46not to go through with the consent-based legislation.
07:49And finally they are waking up and now it is actually on them to also push the commission
07:55so we can have this legislative proposal.
07:58Because when you do this, when you do not choose the side of women and this, the victims,
08:05then you are choosing actually the side of the rapist.
08:07You are already chosen a side, you are not neutral.
08:10What's about the parliament?
08:11All the political groups agree on this resolution?
08:15Because I see that some criticism from the far-right parties.
08:18Well, unfortunately not.
08:20Can you imagine in 2026, when they are saying,
08:25this far-right party, the Patriots and the ESN,
08:29they are still saying that, are women properly dressed?
08:34Was she too drunk?
08:36What did she do to provoke a rape?
08:38Still they are blaming the women, the victim, for the rape.
08:42And I think that they should be utterly ashamed when they cannot,
08:47even in this very volatile situation, they cannot choose the side of the victim.
08:52Let's turn to another topic, because tomorrow there is a key debate on the Middle East crisis.
08:57What should be done on this crisis?
08:59Well, it's not a crisis.
09:01It's a war ongoing where actual people, real people, humans like you and me are dying.
09:06And they are paying a price for us watching the global order being renegotiated in real time.
09:15And what we should have done is we should have been much more clear, much more early in our reactions.
09:21We should have brought the Iranian opposition to facilitate their democratic shift.
09:27But killing people and calling it a war for democracy, that is just ugly.
09:32But are you in favor of a direct involvement of the European countries, as suggested by President Trump?
09:37Never, never in a war that is a crime against international law.
09:42We are better than that.
09:43Europeans, EU, we are better than this.
09:45If we don't protect the international law, then nobody will.
09:50OK. Thank you very much.
09:52And we will cover, we will follow, of course, this debate and all the votes here in the European Parliament
09:58in Strasbourg on Euronews and Euronews.com.
10:01Maren.
10:02OK, Vincenzo, thank you so much.
10:03And thank you to your guest there, MEP, Abir al-Salani.
10:07Now, we're continuing now with the Middle East, where uncertainty, of course, still hangs over the future of talks between
10:13the U.S. and Iran.
10:15For more, we can now cross over to Doha and to our correspondent, Laila Humaira, who's standing by for us.
10:21Laila, great to see you again.
10:22Tell us, the Iranian Foreign Minister, Abbas Arachi, met President Putin in Moscow yesterday.
10:28What was the outcome?
10:31A very good morning to you as well, Mari.
10:33Well, yeah, it seems like Iranian Foreign Minister Abbas Arachi was very pleased with his visit to Russia
10:38and his meeting with the Russian President Vladimir Putin, calling it, hailing the strategic partnership between Tehran and the Kremlin.
10:46Now, after these talks, Arachi also said that the U.S. had offered a new round of talks and negotiations.
10:53But on the U.S. side, though, latest reports from several U.S. media outlets are saying that Trump is
10:59again unhappy with the peace proposal
11:02that Iran had put forth after reviewing it with his security team, which begs the question, what is going to
11:08happen next?
11:09Now, Washington has been very clear that its red lines remain, that Iran cannot be enriching uranium
11:16and it cannot possess any capabilities to develop a nuclear weapons program.
11:21Now, we've had reaction from Europe as well with the German Chancellor, Friedrich Mertz,
11:25saying that the U.S. is being humiliated by Iranian leadership simply because it doesn't have a clear exit strategy
11:33for the war.
11:34So that's where we stand, Mari. It seems like one step forward, but maybe, possibly, two steps back as well.
11:40And Laila, briefly, both sides still locked in a standoff over the Strait of Hormuz
11:45and it's still having quite a deep impact on the markets.
11:51That's right. Now, the Strait of Hormuz situation has escalated into the top rooms of the United Nations
11:57with the U.N. Security Council calling for an urgent and unconditional reopening of the Strait of Hormuz.
12:04Of course, the disruptions and hostilities in the critical maritime shipping trade
12:08has sent shockwaves to energy markets and supply chains as well,
12:12with oil prices trading at a three-week high with Brent crude prices at a critical $108 a barrel level.
12:23Now, there has also been latest inflation and consumer confidence data coming out from across Europe,
12:29which indicates worries and concerns that weaker or slower consumption is ahead of us
12:34and possibly also a weaker or slowing GDP growth in the coming months.
12:39And that's also, in the summer months, concerns of lower or shortage of jet fuel.
12:45And that would be a concern for flights to be grounded and the tourism also bracing for impact as well.
12:51Okay, Laila, Humaira in Doha for us. Thank you so much for that update.
12:56Now, we're moving on now.
12:58The European Commission has defended its made-in-Europe push by stating
13:02the bloc is one of the most open markets in the world.
13:05It came after China slammed the EU's attempt to supercharge local industry.
13:12For more, we're joined by our EU correspondent, Angela Scugins.
13:16Good morning, Angela. Great to have you.
13:17Tell us first about this clash that's played out quite publicly between Brussels and Beijing.
13:22Good morning, Mare.
13:23So, it all started on Monday when a spokesperson from China's Commerce Ministry
13:27came out with a statement blasting the EU for their Industrial Acceleration Act.
13:33This is exactly what you're talking about, that made-in-EU push came out in March
13:37aiming to help support the EU wean off some of those major superpowers
13:42when it comes to manufacturing, such as China.
13:44We know that 200,000 jobs in the EU have been wiped out since 2024.
13:50These are in the automotive and energy industries.
13:53So, this big push by the EU wants to help permitting as well as preferencing public procurement
14:00when it comes to those made-in-EU products.
14:04Now, China came out with that statement stating that this could violate World Trade Organization
14:09principles and it could hurt foreign investment and that countermeasures could follow if the
14:15EU ploughs through.
14:17Now, Brussels has not stayed silent on the matter and neither has the French Minister Delegate
14:22for Europe who wrote on social media platform X, we will not back down.
14:28Like the United States and China, Europe will support its industrial players.
14:32A spokesperson from the European Commission also took to the podium at a public press conference
14:38on Monday.
14:38This is what they had to say in response to those statements.
14:41It's, of course, also about reciprocity.
14:44I mean, we've been quite clear that the goal of one of the objectives of the proposal is
14:50that we are one of the most open markets in the world and we have the largest free trade
14:55agreement network worldwide.
14:56And so, we also expect that openness to be mutual.
15:01And Angela, this is actually the second statement criticizing EU coming from Beijing in recent
15:07days.
15:08Can we now say that these tensions are really escalating?
15:11Yeah, absolutely matter.
15:12This is the second statement.
15:14We know that Beijing came out on Friday criticizing the EU for that 20th sanctions package against
15:19Russia for that country's ongoing invasion of Ukraine.
15:23They imposed restrictive measures for at least seven defense companies from the EU exporting
15:31their defensive products into China.
15:34This is in response to at least two dozen companies that the EU put on their own sanctions list.
15:41These are companies allegedly in China that are helping Russia and Belarus circumvent those
15:46EU sanctions measures, as well as for allegedly producing those dual-use technologies that Russia
15:51is employing on the battlefield.
15:53So, what is clear from both of these public spats is that the tensions are escalating between
15:59these superpowers and it is also playing out on the global markets.
16:03Indeed.
16:04Angela, thank you so much for that update and that analysis for us.
16:07Now, we're moving on now to something a little bit different because it's a big week in football
16:12with the first legs of the Champions League semifinals kicking off tonight.
16:17But this isn't just a clash of teams.
16:19The four semi-finalists also represent how club ownership in Europe is shifting, as Jakob Janos
16:26explains.
16:28Tonight, the Champions League semifinals kick off.
16:32But if you expect real drama only on the pitch, look closer at the accounts.
16:37And while everyone watches the 22 players chase a ball, your reporter is following the money
16:42to witness a high-stakes clash between entirely different versions of how to build a global
16:47sporting empire.
16:48So, let's investigate that together.
16:53First, today we have Paris Saint-Germain.
16:56VSG has changed football to become a global lifestyle brand.
17:00And at the very center is Nasser Al-Khalifi, the most prominent face of European petrodollar
17:05investment.
17:05And while he wasn't the first to invest, he has become its most influential ambassador.
17:12And they face Bayern Munich, the gold standard of the German democratic model.
17:16Under the 50 plus 1 rule, club members still hold the majority of voting rights, legally
17:22preventing any single billionaire from seizing control.
17:25And although its own executives suggested scrapping the rule last month, for now, Bayern remains
17:31a machine built on fiscal efficiency, rather than individual ego, underpinned by its industrial
17:37alliance of Adidas, Audi and Allianz.
17:39And tomorrow, it is a battle of American investment strategies.
17:43Until 1990s, Atletico de Madrid was the people's club, but they have undergone a total corporate
17:49makeover.
17:50And following last month's majority takeover by U.S. private equity firm Apollo Sports
17:55Capital, and with home games at the Riyadh e Metropolitano, they have become a curious
18:01hybrid of Wall Street Capital and Saudi partnership.
18:05And they face Arsenal, the crown jewel of Stan Kroenke's real estate empire.
18:10And Kroenke, who is the largest private landowner in the U.S., does not just buy players, he
18:17buys postcodes.
18:18And his business model treats the stadium as an anchor for massive urban development.
18:24So whether you prefer Kateri luxury, German democracy or American private equity, today
18:31and tomorrow have something for every corporate strategist.
18:35Oh yes, and I'm told there might be some football played as well.
18:44Jakob Iannis reporting there.
18:46But that brings today's programme to an end.
18:48Thank you so much for tuning in.
18:50Remember, you can send us your tips, your questions and your feedback.
18:55Email us on europetoday at euronews.com.
18:58We do love hearing from you.
19:00But we'll be back tomorrow with more exclusive interviews, including from the European Parliament
19:04in Strasbourg.
19:06Make sure to tune in then.
19:08See you.
19:11Bye.
19:40Bye.
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19:52Bye.
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20:01Vielen Dank.
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