The Byron storm worsens the humanitarian crisis in Gaza, causing child deaths from cold in precarious shelters and risk of flooding. Israel blocks construction materials and continues with bombings. The ceasefire between Israel and Hamas is uncertain. Trump seeks international success. Discussions are held on disarming Hamas and rebuilding Gaza, with the United States asking Israel to pay for debris removal.
Ukraine has increased its production and industrial partnerships to strengthen its defense industry after the Russian invasion, inherited from the Soviet Union, but faces corruption and bureaucracy. The dissolution of UkrOboronProm aims to improve efficiency and transparency.
The IMEC network in the Gulf advances with the participation of Saudi Arabia, Bahrain and Oman. The lack of diplomatic normalization between Saudi Arabia and Israel is the biggest obstacle. Bahrain’s inclusion would benefit the project with its ties to Saudi Arabia, its financial importance and its logistical potential. Oman’s inclusion would resolve security risks in the Strait of Hormuz.
Donald Kohn promoted interest payments on bank reserves at the Federal Reserve, arguing that not doing so was a hidden tax on banks. In 2006, Congress authorized interest payments, which were implemented in 2008 to stabilize the economy after the financial crisis. Kohn noted that paying interest on reserves benefits financial stability and helps the Federal Reserve to meet its monetary objectives.
Europe must negotiate with Russia for peace in Ukraine, creating its own plan with Kyiv. Criticism is made of Trump’s lack of interest in a just peace. Emphasis is placed on Ukraine’s integration into the EU and the importance of increased European responsibility to influence Russia and end the war.
