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Europe Today: Macron renews Eurobonds push amid energy crisis, faces Brussels scepticism
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Tune in to Europe Today, Euronews' flagship morning programme at 8 am Brussels time. In just 20 minutes, we bring you up to speed on the biggest news of the day.
READ MORE : http://www.euronews.com/2026/04/28/europe-today-macron-renews-eurobonds-push-amid-energy-crisis-faces-brussels-scepticism
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00:14Good morning. It's Tuesday, the 28th of April. I'm Marit Gwynn and this is Europe Today,
00:21your 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
00:33blockade 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.
01:22We 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, which is joint European debt issued by all 27 EU
01:44member states.
01:45But in Brussels, the proposal is being met with scepticism.
01:48For more, we can turn now to our Europe editor, Maria Tadeo, who joins me in the studio.
01:52Good morning, Maria.
01:53Tell us first, why is the French President proposing this now?
01:57Well, Marit, 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, of course,
02:11in which you're seeing deep competition coming both from China, but 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.
02:29So 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 will gather in Brussels.
02:42I mean, Macron has already said for months that decisions, fundamental decisions when it comes to the European economy will
02:48have 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, this is
02:58a 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, the cost of energy related to
03:08the situation in the Middle East,
03:09this adds a sense of urgency when it comes to the French, but not just because a growing number of
03:15countries, including Greece, by the way, but also the Spanish.
03:17They have all argued when it comes to not just new debt, but also the repayment of debt that was
03:22previously issued, especially at the time of the pandemic.
03:25These payments should be delayed beyond 2026 because the urgency now means that the focus should not be on paying
03:31off debt, but actually investing in the future of Europe.
03:34What we should note, however, is that the German line, and that is crucial, has 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 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 and another round, potentially, of simplification.
03:59So meaning cutting off more red tape, I spoke with the economic commissioner last week, and he said expect more
04:05measures in that sense.
04:06And Brussels is also warning, Maria, that, you know, even if there's a peace in Iran tomorrow,
04:11there 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, repeat that there is no exit
04:22plan 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 global
04:32energy market,
04:33which has been completely rattled by this war.
04:35It'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,
05:04counting out some of the energy costs from 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,
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 than the language that you
05:33hear 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 with 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, 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,
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,
06:28which is not the case today all across the EU.
06:32So why is this important?
06:33I'll put that question to Abir al-Salani, a Swedish MEP, who has worked on the file.
06:38Good 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
06:47when we discussed the gender-based violence directive,
06:50and where we fail, actually, in delivering this kind of legislation to women.
06:56And it comes with a very important timing,
06:58not only because of the backlash on gender equality issues globally,
07:06but also specifically in Europe,
07:08but 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,
07:24they 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. 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,
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 the victims,
08:04then you are choosing actually the side of the rapist.
08:07You are already chosen a side. You are not neutral.
08:09What about the parliament?
08:11All the political groups agree on this resolution?
08:14Because I see that some criticism from the far-right parties.
08:18Well, unfortunately not.
08:19But 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?
08:34Was she too drunk?
08:35What did she do to provoke a rape?
08:38Still 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,
08:50they 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.
09:26But 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.
09:50Okay.
09:51Thank 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
09:59on Euronews and Euronews.com.
10:01Maren.
10:02Okay, 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 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.
10:22Tell us, the Iranian foreign minister, Abbas Adachi, met President Putin in Moscow yesterday.
10:28What was the outcome?
10:31A very good morning to you as well, Maren.
10:33Well, yeah, it seems like Iranian foreign minister Abbas Adachi 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 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
11:00with 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 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
11:33the war.
11:34So that's where we stand, Maren.
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.
11:50That'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.
12:44And 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.
12:57The European Commission has defended its made-in-Europe push by stating the bloc is one of the most open
13:04markets in the world.
13:05It came after China slammed the EU's attempt to supercharge local industry.
13:11For more, we're joined by our EU correspondent, Angela Scugins.
13:15Good 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, Marid.
13:23So it all started on Monday when a spokesperson from China's Commerce Ministry came out with a statement blasting the
13:30EU for the 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.
13:49These 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 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.
14:41It'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 that we
14:50are one of the most open markets in the world and we have the largest free trade agreement 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 days.
15:08Can we now say that these tensions are really escalating?
15:11Absolutely, Matt. 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 as well as
15:48for 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 and
16:01it 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 because it's a big week in football with the
16:12first legs of the Champions League semi-finals 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 Janis explains.
16:28Tonight, the Champions League semi-finals 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, your reporter is following the money to witness a high
16:43-stakes clash between 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.
16:56PSG has changed football to become a global lifestyle brand.
16:59And 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.
17:12And 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 preventing any single billionaire
17:23from seizing control.
17:25And although its own executives suggested scrapping the rule last month, for now, Bayern remains a machine built on fiscal
17:32efficiency, rather than individual ego, underpinned 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, but they have undergone a total corporate makeover.
17:50And following last month's majority takeover by US private equity firm Apollo Sports Capital, and with home games at the
17:57Riyadh Metropolitano,
17:59they have become a curious hybrid of Wall Street Capital and Saudi partnership.
18:04And 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, does not just buy players, he buys postcodes.
18:18And his business model treats the stadium as an anchor for massive urban development.
18:23Ahem, so whether you prefer Kateri luxury, German democracy, or American private equity,
18:30today and tomorrow have something for every corporate strategist.
18:34Oh yes, and I'm told there might be some football played as well.
18:44Jakob Janos reporting there.
18:46But that brings today's program 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.
19:08I'll see you.
19:08Bye.
19:09Bye.
19:11Bye.
19:17Bye.
19:19Bye.
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