Hungary
AIIB commits $125mn to OTP green finance push in CEE, Balkans
AIIB says transaction aims to deepen local capital markets and mobilise private investment into climate-related projects.
Peter Magyar sworn in as new Hungarian prime minister
Tens of thousands celebrate "transition to democracy" and end of Orban era.
Europe's rearmament programme is falling apart from the inside just when Ukraine needs it most
Europe's most ambitious attempt to coordinate its own defence — the €800bn ReArm programme launched with considerable fanfare in early 2025 — is being quietly undermined by the very governments that approved it.
The Iran war exposes fiscal fragility around the world
The Iran war has arrived at the worst possible fiscal moment for most of the world's major economies. Governments spent heavily on Covid, defence and two energy crises. Fiscal space across most of the developed world is limited or exhausted.
Europe funds the Ukraine conflict with debt, Russia with cash
How can Europe cover the $100bn the war in Ukraine costs? The EU just signed off on a €90bn loan for Ukraine agreed at a summit on December 19 to get it through the next two years. Europe doesn't have the cash. Russia does.
Hungary's Viktor Orban tells insiders Fidesz brand tainted, hints at possible retirement
Hungary's outgoing prime minister Viktor Orban reportedly told insiders behind closed doors that the Fidesz brand may be too damaged to win future elections under its current name after the crushing election loss last month.
Hungary quietly returns seized assets to Ukrainian bank two months after controversial raid
Counterterrorism unit TEK stopped two cash transport vans of Oschadbank near Budapest ahead of Hungary's April general election.
Europe’s power bottleneck shifts from supply to electricity grids
Europe’s energy challenge is increasingly centred on its ageing and fragmented electricity grids rather than a shortage of power generation, as rapid renewable energy expansion exposes weaknesses in transmission infrastructure and storage.
Hungary faces steeper fiscal gap as deficit seen nearing 7%, Peter Magyar claims
Prime minister-designate says the projected deficit would significantly overshoot both the government’s original 3.9% target and its later revised 5% forecast.
Slovak PM Fico confirms plans to meet Putin at WWII victory celebrations in Moscow
Isolated after Viktor Orban's election defeat in neighbouring Hungary, Robert Fico is expected to take a pragmatic approach to avoid isolation.
The battery gap: Europe only has 15mins of storage capacity
Europe has been pouring billions into building green energy generating capacity. But it is much further behind on storing that power. Europe's batteries go flat after only 15mins.
Finland's break with Russia left its economy struggling to keep up with defence spending
When Finland formally joined Nato in April 2023, abandoning the studied neutrality it had maintained since the Second World War, the decision was framed in Helsinki as an existential security choice forced by Russia's invasion of Ukraine.
Switzerland breaks ground on world's most powerful battery
A construction crew in northern Switzerland is excavating a pit the size of two football pitches and 27 metres deep that will house the world's most powerful battery when it opens in 2029 — a $1bn batter that can supplying 210.000 homes
Renewables have saved Europe €100mn every day since the start of the Iran war
Solar power has been saving Europe more than €100mn a day since the US-Israel war on Iran began, Euronews reports, as the Strait of Hormuz blockade transforms the economics of Europe's energy transition from a climate crisis to a security issue.
World’s largest sand battery survives its worst winter, ready for roll out
The world's largest sand battery can store enough heat to warm a whole town for a week during the worst of a Finnish winter.
Iran-linked shock’s impact on Emerging Europe seen milder than 2022 crisis, says wiiw economist
Severity of current shock in Emerging Europe linked to Iran war unlikely to match the 2022 crisis triggered by Russia’s invasion of Ukraine.
Europe is the world’s fastest-warming continent
“We’ve seen record heatwaves from the Mediterranean to the Arctic, while glaciers have been shrinking and snow cover melting. The evidence is unequivocal: climate change is not a future threat. It is our present reality,” the EC said
Hungary close to political deal with European Commission on unlocking EU funds, Magyar says
Incoming PM Peter Magyar said he held "highly constructive talks" with European Commission President Ursula von der Leyen.
Europe bought more Russian LNG in March than at any point in history, the same week it banned imports
Despite threatening to end Russian LNG imports completely next year, prompting the Kremlin to threaten to cut off gas exports to Europe before then, the EU just imported the most LNG in history as it slides into an expanding gas crisis.
Croatia pushes stronger financing role for Three Seas Initiative at Dubrovnik summit
With global uncertainty driving demand for resilient supply chains and energy diversification, leaders said the initiative could play a larger role in Europe's economy provided it can secure investment.