Navigating the Evolution of EU Fiscal Rules: A Possible Special Status for Defence Spending?

Amid a paradigm shift in EU economic governance, a draft compromise seen by Euractiv reveals that, under the new Economic Governance Review (EGR), defence spending might be granted special status within European Union (EU) fiscal rules (Pugnet &Allenbach-Ammann, 2023). According to Euractiv, this document, tabled by the Spanish presidency of the EU Council on 3 November 2023, seeks to stimulate member state investment in defence. It is also part of a grand effort to overhaul current EU debt and deficit reduction rules, which were suspended for four years in order to allow increased spending and will be returning in full force in 2024 (Leali & Smith-Meyer, 2023).

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The Abraham Accords Have Backfired – The Destabilisation of the Middle East.

The eruption of yet another armed conflict between Israel and Palestine is wreaking havoc within a geopolitical region which has recently been under a process of progressive stabilisation and pacification. The Abraham Accords have been a critical component of this process and its diplomatic formalisation. However, Hamas’ terrorist attacks on 7 October 2023 and the subsequent Israeli retaliation are hampering this entire pacification process. If tensions continue to escalate, they will conceivably deter the continuation and extension of these ambitious accords. The Abraham Accords were brokered in 2020 between Israel, the United Arab Emirates (UAE), and Bahrain as a result of the diplomatic mediation of the Trump administration.

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