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    The Guardian view on Europe’s payments problem: sovereignty starts at the till | Editorial

    Donald Trump’s leverage over Visa and Mastercard highlights a blind spot in Europe’s ‘independence’ strategy. Emulating India’s response might helpWhen the centre-left French politician Aurore Lalucq posted a warning last Wednesday that Donald Trump could cut off Europe from international payment systems, the clip went viral. To many, her message made sense. After all, if Mr Trump was prepared to test allies’ boundaries over Greenland, it is not far-fetched to imagine Visa and Mastercard becoming used against a recalcitrant Europe.The US can turn off payment systems it controls. Russia learned this first-hand after sanctions were rightly applied for its invasion of Ukraine. As up to 60% of Russian retail transactions depended on Visa and Mastercard for authorisation, the ban left many ordinary people stranded without access to funds and unable to buy goods. Under Mr Trump, America’s goal is to “help Europe correct its current trajectory”. Given such talk, Ms Lalucq, who chairs the European parliament’s economic and monetary affairs committee, is not wrong in calling for an “Airbus of European payments” to protect the EU. Continue reading… More

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    Might is right: US ‘foreign policy’ held hostage to mad king Trump’s whims

    Increasingly unpopular at home, a president obsessed by his legacy has turned his scattergun on the world stageOne year into the second Trump administration, an actual US foreign policy remains just a nice idea. Instead, the world has been forced to adapt to the world according to Donald Trump: one increasingly shaped by his erratic shifts and unpredictable decisions, his fury at perceived slights and his growing desire to stamp his legacy in the model of an imperial leader from centuries past.Think of it as the mad king’s court, where every day is a carnival. Continue reading… More

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    How a billionaire with interests in Greenland encouraged Trump to acquire the territory

    US president’s friend Ronald Lauder – who first proposed Arctic expansion – is now making deals in the islandOne day during his first term, Donald Trump summoned a top aide to discuss a new idea. “Trump called me down to the Oval Office,” John Bolton, national security adviser in 2018, told the Guardian. “He said a prominent businessman had just suggested the US buy Greenland.”It was an extraordinary proposal. And it originated from a longtime friend of the president who would go on to acquire business interests in the Danish territory. Continue reading… More

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    Why Russia’s economy is unlikely to collapse even if oil prices fall | Phillip Inman

    Hopes that tougher sanctions and lower oil prices could derail Putin’s war effort underestimate how far the Kremlin has rewired its economyPacing inside the Kremlin last weekend, as news feeds churned out minute-by-minute reports of Donald’s Trump’s Venezuelan coup, Vladimir Putin may have been wondering what it would mean for the price of oil.Crude oil has lubricated the Russian economy for decades – far more than gas exports to Europe – and so the threat of falling oil prices, prompted by US plans for control of Venezuela’s rigs, will have been a source of concern. Continue reading… More

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    Is Starmer’s reluctance to criticise Trump smart tactics – or the sign of a man without a plan? | Rafael Behr

    The PM won’t call out Trump over Venezuela, and won’t commit to Europe. His refusal to choose leaves vital choices for Britain to be made by others For an inveterate liar, Donald Trump is remarkably honest. The best guide to what he thinks is what he says. When forecasting his likely course of action, start with his declared intentions – removing the president of Venezuela, for example – and assume he means it. When he says the US must take possession of Greenland, he is not kidding.The motives are sometimes muddled but rarely hidden. Trump likes making deals, especially real estate deals, and money. He wants to be great and to have his greatness affirmed with praise and prizes. He craves spectacle. The world as he describes it doesn’t always resemble observable reality, but there is an effortless, sociopathic sincerity to his falsehoods. The truth is whatever he intuits it to be in the moment to advance his interests and manipulate his audience.Rafael Behr is a Guardian columnist Continue reading… More

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    Europe’s failure to condemn Trump’s illegal aggression in Venezuela isn’t just wrong – it’s stupid | Nathalie Tocci

    The more European countries act as colonies, unable and unwilling to stand up to Trump, the more they’ll be treated as suchThere is no two without a three, as we say in Italian. After their complicit silence on Israel’s war crimes in Gaza and their tacit acceptance of the US/Israel attack on Iran, Europeans now hesitate to condemn the US’s audacious military operation to bring about regime change in Venezuela. With few notable exceptions – such as Spain, the Netherlands and Norway – most European leaders have fudged their response. Spain, in fact, has acted without its EU partners, condemning the US attack alongside a group of Latin American countries. European governments seem unable to utter in the same breath that, although Nicolás Maduro was an illegitimate dictator, the US attack to topple him is a gross violation of international law.The French president, Emmanuel Macron, the UK prime minister, Keir Starmer, and the European Commission president, Ursula von der Leyen, at least made reference to international law, while emphasising that they shed no tears for the end of Maduro’s regime. Others, such as the German chancellor, Friedrich Merz, strangely talked about looking into the legality of the US military action, as if there were any doubt about its nature. Worse still, Trump-friendly Italian prime minister Giorgia Meloni defined this act of external military intervention as “legitimate” self-defence against narco-trafficking.Nathalie Tocci is a Guardian Europe columnist Continue reading… More