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00:30...to reopen the Strait of Hormuz if the U.S. lifts its blockade 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 Merz has said the U.S. is being humiliated in talks with Iran.
00:49We'll bring you the latest.
00:51And with the U.S. and Iran locked in a standoff over the Strait of Hormuz,
00:55the European Union is facing 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.
01:08And China has publicly criticized EU plans to shield homegrown European industries
01:14with the so-called European preference in public procurements,
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,
01:35French 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 skepticism.
01:48For more, we can turn now to our Europe editor, Maria Tadeo, who joins me in the studio.
01:53Good morning, Maria.
01:54Tell us first, why is the French President proposing this now?
01:57Well, Maria, 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 and 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, fundamental decisions,
02:46when it comes to the European economy will have to be made.
02:50So 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 because the urgency now means that the focus
03:30should not be on paying off debt, but actually investing in the future of Europe.
03:34What we should note, however, is that the German line, and that is crucial,
03:38has not really changed.
03:39They continue to say they're not in favor of more debt.
03:42The German chancellor insists that the problem in Europe is really about productivity when it comes
03:46to its companies, but 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 and another round,
03:57potentially, of simplification.
03:59So meaning cutting off more red tape.
04:01I spoke with the economic commissioner last week, and he said expect more measures in that sense.
04:07And Brussels is also warning, Maria, that, you know, even if there's a peace in Iran tomorrow,
04:12there will be potentially very deep economic consequences.
04:15So what has the response really been like from them?
04:17Yeah, you're seeing now a growing number of European leaders, including the German chancellor,
04:21repeat that there is no exit plan from the U.S.
04:24It's not clear how this war is going to end.
04:26And at this stage, you have the Strait of Hormuz with the many ramifications that it has for the
04:32global energy market, which has been completely rattled by this war.
04:36It'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 to now you are dealing with
04:51a crisis.
04:51Last week, the European Commission put forward measures, but 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, well, counting out some of the energy costs
05:06from fiscal deficits and debt that should be tweaked.
05:10Those parameters, there'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, but not others which do not have
05:21the 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 than the language that you
05:33hear from the institutions and that they do want to see more measures, which for the time being have not
05:38come.
05:39OK, Maria Tadeo, thank you so much for that analysis for us.
05:43Now, moving on, EU lawmakers are gathering in Strasbourg this week with a raft of issues on their agenda.
05:49For more, we can cross over now to the European Parliament in Strasbourg and to our correspondent, Vincenzo Genovese, who's
05:56there 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, Maret. 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, which is valid, which should be
06:20valid across all the 27 member states.
06:22And essentially says that any form of sex without consent should be considered as rape, which is not the case
06:30today all across the EU.
06:31So why is this important? I'll put that question to Abir Al-Salani, a Swedish MEP, who has worked on
06:38the file.
06:39Good morning and welcome. What'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, but
07:06also specifically in Europe,
07:08but also because of all these scandals that have been surrounding this topic, from the case of Madame Pellicot in
07:16France 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. Sexual violence in Europe has evolved.
07:31Because nowadays the definition of rape is, in some member states, is linked to violence.
07:38Exactly. And 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, not 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. Because when you do this, when you do not choose the side of
08:03women and the victims,
08:05then you are choosing actually the side of the rapist. You are already chosen a side, you are not neutral.
08:10What about the parliament? All the political groups agree on this resolution?
08:14Because I see that some criticism from the far-right parties.
08:18Well, unfortunately not. Can you imagine in 2026, they are saying, this far-right party, the Patriots and the ESN,
08:29they are still saying that, are women properly dressed? Was she too drunk?
08:36What did she do to provoke a rape? Still they are blaming the woman, the victim, for the rape.
08:42And I think that they should be utterly ashamed when they cannot, even in this very volatile situation,
08:51they cannot choose the side of the victim.
08:53Let'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, it's a war ongoing where actual people, real people, humans like you and me are
09:06dying.
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 favour of 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. Europeans, EU, we are better than this.
09:45If we don't protect the international law, then nobody will.
09:50Okay. Thank you very much, and we will cover, we will follow, of course,
09:55this debate and all the votes here in the European Parliament in Strasbourg on Euronews and Euronews.com.
10:01Maren.
10:02Okay, Vincenzo, thank you so much, and 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
10:12over the future of talks between the US 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.
10:23Tell us, the Iranian foreign minister, Abbas Adakchi, met President Putin in Moscow yesterday.
10:28What was the outcome?
10:31A very good morning to you as well, Mare.
10:33Well, yeah, it seems like Iranian foreign minister Abbas Adakchi was very pleased with his visit to Russia
10:38and his meeting with the Russian president, Vladimir Putin, calling it,
10:42hailing the strategic partnership between Tehran and the Kremlin.
10:46Now, after these talks, Arachi also said that the US had offered a new round of talks and negotiations.
10:53But on the US side, though, latest reports from several US media outlets are saying that Trump is again unhappy
11:01with the peace proposal that Iran had put forth after reviewing it with his security team,
11:06which begs the question, what is going to happen next?
11:09Now, Washington has been very clear that its red lines remain, that Iran cannot be enriching uranium and it cannot
11:17possess any capabilities to develop a nuclear weapons program.
11:21Now, we've had reaction from Europe as well with the German Chancellor, Friedrich Mertz,
11:26saying that the US is being humiliated by Iranian leadership simply because it doesn't have a clear exit strategy for
11:34the war.
11:34So that's where we stand, Mare.
11:35It seems like one step forward, but maybe, possibly two steps back as well.
11:40And Laila, briefly, both sides still are created a standoff over the Strait of Hormuz and it's still having quite
11:47a 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 with the
11:57UN Security Council calling for an urgent and unconditional reopening of the Strait of Hormuz.
12:03Of course, the disruptions and hostilities in the critical maritime shipping trade has sent shockwaves to energy markets and supply
12:11chains 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 and possibly also a weaker or
12:37slowing 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.
12:51OK, Laila, Humaira in Doha for us. Thank you so much for that update.
12:56Now, we're moving on now. The European Commission has defended its made-in-Europe push by stating the bloc is
13:03one 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 Skugins.
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, Marad. So it all started on Monday when a spokesperson from China's Commerce Ministry came out with a
13:28statement blasting the EU for their Industrial Acceleration Act.
13:33This is exactly what you're talking about.
13:34That made-in-EU push came out in March aiming to help support the EU wean off some of those
13:41major superpowers when 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 industry.
13:54So this big push by the EU wants to help permitting as well as preferencing public procurement when it comes
14:01to those made-in-EU products.
14:03Now, China came out with that statement stating that this could violate World Trade Organization principles and it could hurt
14:11foreign investment and that countermeasures could follow if the EU plows through.
14:17Now, Brussels has not stayed silent on the matter and neither has the French minister-delegate for Europe who wrote
14:23on social media platform X,
14:25We will not back down. Like 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 on Monday.
14:38This is what they had to say in response to those statements.
14:42It'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 that we
14:50are one of the most open markets in the world.
14:52And we have the largest free trade agreement network worldwide.
14:57And 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 days.
15:08Can we now say that these tensions are really escalating?
15:11Yeah, absolutely, Madda. This is the second statement.
15:14We know that Beijing came out on Friday criticizing the EU for that 20th sanctions package against Russia for that
15:20country's ongoing invasion of Ukraine.
15:23They imposed restrictive measures for at least seven defense companies from the EU exporting their 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 EU sanctions measures,
15:47as well as for allegedly producing those dual use technologies that Russia is employing on the battlefield.
15:53So what is clear from both of these public spats is that the tensions are escalating between these superpowers,
16:01and it is also playing out on the global markets.
16:03Indeed, Angela, 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,
16:10because it's a big week in football with the first legs of the Champions League semifinals kicking off tonight.
16:17But this isn't just a clash of teams.
16:19The four semifinalists also represent how club ownership in Europe is shifting, as Jakob Janis explains.
16:29Tonight, the Champions League semifinals kick off.
16:31But 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,
16:41your reporter is following the money to witness a high-stakes clash
16:44between entirely different versions of how to build a global sporting 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 investment.
17:06And while he wasn't the first to invest, he has become its most influential ambassador.
17:11And 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,
17:22legally preventing any single billionaire from seizing control.
17:25And although its own executives suggested scrapping the rule last month,
17:29For now, Bayern remains a machine built on fiscal efficiency, rather than individual ego,
17:35underpinned by its industrial alliance 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,
17:47but they have undergone a total corporate makeover.
17:50And following last month's majority takeover by US private equity firm Apollo Sports Capital,
17:56and with home games at the Riyadh e Metropolitano,
17:59they have become a curious hybrid 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 US,
18:14does not just buy players, he buys 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,
18:30today and tomorrow have something for every corporate strategist.
18:35Oh yes, and I'm told there might be some football played as well.
18:44Jakob Janos 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,
19:03including from the European Parliament in Strasbourg.
19:06Make sure to tune in then.
19:07See you.
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19:55Gracias por ver el video.
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