Italy’s Draghi Announces Resignation as Unity Government Unravels
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Italian Prime Minister Mario Draghi announced his resignation (FT) after three parties in his government boycotted a confidence vote. He is expected to stay on in a caretaker role until elections in September or October, which right-wing parties are likely to win (Politico).
Draghi, a former European Central Bank (ECB) president, was an architect of the European Union (EU) sanctions campaign against Russia for its invasion of Ukraine. His resignation comes as the ECB aims to quell concerns about the eurozone’s economic stability by raising interest rates (Reuters) for the first time in eleven years. Former Prime Minister Silvio Berlusconi and Matteo Salvini, who lead two of the parties that boycotted the confidence vote, have voiced admiration for Russian President Vladimir Putin.
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“With a war and an energy crisis adding to fears of a European recession, the absence of Draghi’s expertise from the EU’s top table will also be a blow to the bloc’s leadership, just when it is most needed,” Politico’s Hannah Roberts writes.
“For Italy, [the resignation] casts doubt over the budget and progress on reforms needed to unlock 200 billion euros ($204 billion) in aid from the EU,” Bloomberg’s Alice Gledhill and Allegra Catelli write.
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China Fines Ride-Hailing Company $1.2 Billion Amid Tech Crackdown
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DiDi’s fine for data security violations is the latest (NYT) in a series of regulatory actions by Beijing on China’s tech sector.
U.S./China: Former U.S. Secretary of State Henry A. Kissinger warned against “endless confrontations” between the United States and China during an interview with Bloomberg.
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UN Report Details Killings Under Taliban
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Overall security in Afghanistan has improved since the Taliban’s takeover nearly one year ago, but up to seven hundred people have been killed (AP), the United Nations reported. Most of the casualties were linked to attacks by the self-declared Islamic State.
Sri Lanka: New President Ranil Wickremesinghe said he will crack down (The Guardian) on the anti-government protests that ousted his predecessor, calling them illegal.
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Middle East and North Africa
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Iraq Accuses Turkey of Attack That Killed Eight Tourists
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Gates Foundation Pulls Support for First Malaria Vaccine
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The World Health Organization (WHO) is rolling out the vaccine (AP) in three African countries. The Bill & Melinda Gates Foundation, one of the WHO’s top financial backers, says the vaccine’s efficacy of around 30 percent is lower than desired.
Ghana: Parliament approved a $750 million loan (Reuters) from the African Export-Import Bank as the country tries to overcome a nearly $1 billion balance-of-payments deficit.
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Russia Partially Restarts Gas Flow to Europe, Expands Ukraine War Aims
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U.S., Canada Trigger Trade Talks With Mexico Over Energy Dispute
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The countries began a seventy-five-day discussion period (FT) under the U.S.-Mexico-Canada Agreement over claims that Mexico violated the deal by favoring state energy companies over private investors. A dispute settlement panel could form if no agreement is reached.
U.S./Central America: The U.S. State Department sanctioned dozens (LA Times) of “corrupt and undemocratic” officials in El Salvador, Guatemala, Honduras, and Nicaragua.
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Biden Announces Executive Actions on Climate Disaster Resilience, Offshore Wind
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After President Joe Biden’s flagship climate bill failed in Congress, he pledged (USA Today) $2.3 billion for community resilience projects and proposed designated wind energy areas in the Gulf of Mexico. Biden said he will soon decide whether to declare a climate emergency.
In this webinar, CFR’s Alice C. Hill and Irina A. Faskianos discuss climate resilience strategies with Matthew Gosner.
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Council on Foreign Relations
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