Donald Trump’s in. Here’s what it means for Europe. By our ace policy experts. politico.eu/article/donald…

EXC: Von der Leyen is eyeing merger between the Commission’s reform department and unit in charge of the Recovery Fund. The rejig would strengthen VDL's control over next budget and facilitate extending ‘cash-for-reforms’ model to the EU's common fund. politico.eu/article/ursula…

NEW: Commission is set to approve tomorrow all spending plans with the exception of the one submitted by the Netherlands Brussels and The Hague are at odds over spending projections for coming yrs, but are expected to overcome disagreement Other 21 plans will get green light

800 local staffers are at risk of being left out in the cold, the first hot potato for Kallas, while the Commission reduces EU foreign policy to the Global Gateway

NEW: EU is ready to compensate for possible U.S. exit from $50 BN loan to Ukraine, Poland’s Paweł Karbownik said today Meanwhile, in Washington U.S. Speaker turned down new Ukraine aid before Trump takes over The Russian assets saga might not be over… pro.politico.eu/news/190569

New w/ Gregorio Sorgi Republicans are now eyeing tariffs to punish members of the European Union and other countries for adopting a 15 percent global minimum tax. So far, the architects of the deal in Paris and Brussels aren’t backing down. subscriber.politicopro.com/article/2024/1…

🚨 Scoop: European lawmakers have written to FIFA President Gianni Infantino to express their "grave concerns" about Saudi Arabia being awarded the 2034 football World Cup. Read the letter here ⬇️ politico.eu/article/fifa-s…

Never mind the Austrian far-right's Russian sympathies or anti-migrant rhetoric. The first battle with Brussels is shaping to be over spending. Time is running out for Vienna to present spending plan to the EU by Jan. 21. Story 👇 politico.eu/article/austri…

When I directly asked the Commission on Wednesday whether von der Leyen had been hospitalized for pneumonia, the answer I was given was that they had "no update." Now it turns out she was hospitalized for a week. Story with Seb Starcevic politico.eu/article/ursula…

EXC: Von der Leyen suggested triggering emergency clause to boost defense spending during leaders' meeting This major change wd allow countries to spend beyond EU limits w/out violating treaties Full story by jacopo barigazzi, Giovanna Faggionato and me politico.eu/article/eu-urs…

EXC: The EU opens door to South Korea, Japan, UK and Canada in €150B defense plan seen by POLITICO Ukraine will enjoy special status, while U.S. is set to be left out from joint projects w/t EU states Story w/t jacopo barigazzi and Giovanna Faggionato 👇 next.politico.eu/news/195745

🚨 BIG scoop from Gregorio Sorgi & Giovanna Faggionato: UK urging European nations to create supranational defense bank. Means govts could keep upfront defense procurement costs out of national budgets. “The British have a fiscal straightjacket so they are very much interested in this.”

Nice scoop from the EU FS team at Politico about how British officials engaged in a secret dinner with select EU allies in Brussels last week to hatch plans for a new rearmament bank. The difference with this scheme is that the bank would absorb the capital cost of procurement

EXC: The U.K. wants to transfer Russian immobilized assets from Euroclear to special investment fund. The would allow Britain to expand influence over RU assets; generate higher windfall profits and move closer to outright seizure. More details 👇 politico.eu/article/uk-fro…

EXC: Commission floats digital tax to repay post-Covid recovery fund during College meeting The EU executive also suggests new customs duties, e-waste tax and traveler levy to help repay €350 BN, according to an internal note Story here 👇 pro.politico.eu/news/198653

EU wants to end free money to poor countries. Foreign aid could be used to deliver on domestic priorities like energy & migration under new EU budget But EU states, MEPs and NGOs are opposed to this plan More details 👇 politico.eu/article/eu-to-…

Quite big if true. Polish minister claims the EU agreed to a 3-month extension to its recovery program up to November 2026. If true, this could be a gamechanger for countries struggling to spend EU cash before the deadline

The change is that Poland will have +3 months to show the EU that "deliverables" have been met, Polish officials say. For ex. they can present new paperwork until November 2026 proving that they met conditions to unlock money. Useful concession for PL and potentially others

Countries face losing out on billions with the EU set to reject a Covid recovery fund extension. politico.eu/article/eu-cov…