Author: MIL-OSI Publisher

Posted on

Challenges and opportunities: what lies ahead for the world economy?

Source: European Central Bank (video statements)

Tariffs and geopolitical conflicts have created uncertainty around the world. But how does the new trade environment affect inflation and the economy? How can central banks adapt? And what is the potential impact on the dominance of the US dollar ?

In the third episode of our special Sintra series of the ECB Podcast, our host Paul Gordon talks to London School of Economics Professor Silvana Tenreyro.

The views expressed are those of the speakers and not necessarily those of the European Central Bank.

Published on 4 July 2025 and recorded on 1 July 2025.

In this episode:
01:30 How is the world economy doing?
What developments are having an impact on our economy today? And what uncertainties are arising from tariffs, trade fragmentation and armed conflicts in different parts of the world?

03:30 Tariffs, trade fragmentation and the economy
How can trade tariffs and fragmentation affect economic growth and inflation in the euro area and beyond?

06:25 How are prices changing?
How are prices changing in different countries? Will tariffs cause prices in the United States to rise, and those in Asia and Europe to fall? And why?

07:55 Lessons for central banks
Given the extremely high level of uncertainty, what lessons from past shocks can central banks apply in the future? Why do we need clearly defined frameworks? And what role do governments play?

09:55 How can governments prepare for potential shocks?
Investing in technologies that are difficult to substitute, diversifying energy sources and creating buffers for critical inputs – why it’s crucial that governments have a strategy to withstand various shocks.

12:05 What is a dominant currency?
When is a currency considered internationally “dominant”? And what dominant currencies have there been in the past?

13:40 Dollar dominance and monetary policy transmission
Does dollar dominance in international trade transactions reduce the effectiveness of monetary policy?

17:30 The future of dollar dominance
How will the dominance of the US dollar develop in the future? Is its role as a primary reserve currency at risk due to the Trump Administration’s policies?

19:10 What keeps you up at night?
What happens to our economy if there is a sudden shortage of a certain input? What impact will AI have if it remains largely unregulated? And what do stablecoins and digital currencies mean for our economy?

21:00 Our guest’s hot tip

Silvana shares her hot tip with our listeners.

Further readings:

Michael McLeay and Silvana Tenreyro: Dollar dominance and the transmission of monetary policy

Sintra Series episode 1/4: Price stability in times of change

Sintra Series episode 2/4: Adapting to change: Ensuring price stability in a new geopolitical era

Silvana’s hot tip: I’m still here/Ainda estou aqui

ECB Instagram
https://www.instagram.com/europeancentralbank/

https://www.youtube.com/watch?v=p1YYRg69syw

Posted on

Gaza , Palestine, Lebanon & other topics – Daily Press Briefing (3 July 2025) | United Nations

Source: United Nations (video statements)

Noon Briefing by Stéphane Dujarric, Spokesperson for the Secretary-General.

Highlights:
Secretary-General/Trip Announcement
Deputy Secretary-General
Gaza 
Occupied Palestinian Territory
Lebanon
Cyprus
Ukraine
Russia
Senior Personnel Appointment  
Yemen
Global Risk Report
International Days
Financial Contribution

SECRETARY-GENERAL/TRIP ANNOUNCEMENT
The Secretary-General will be arriving in Rio de Janeiro, Brazil, to attend the 17th Summit of the BRICS countries.
The Secretary-General has been invited to speak at an outreach session on “Strengthening multilateralism, economic-financial affairs and artificial intelligence", that will take place on Sunday, 6 July. On Monday, 7 July, he will address a second outreach session, on "Environment, COP30 and global health.”
During his visit, the Secretary-General will also be having meetings with various leaders who are attending the BRICS Summit and we will share those readouts with you.

DEPUTY SECRETARY-GENERAL
Our Deputy Secretary-General, Amina Mohammed, returned to Seville today for the closing of the Fourth International Conference on Financing for Development (FFD4).
At the closing with Prime Minister Pedro Sanchez of Spain, she underscored the consensus around the Seville Agreement as a demonstration of multilateralism in action — with actions to close the SDG financing gap, address the debt crisis, and reform the international financial architecture. She recognized the more than 100 initiatives launched on the Sevilla Platform for Action, including solidarity levies on private jets and first-class travel to generate new resources for sustainable development.
She said that the UN will be operationalizing a Seville Forum on Debt to help countries learn from one another and coordinate their approaches in debt management and restructuring; that forum will be supported by Spain.
She called for FFD4 to be remembered not only as a conference that responded to crisis, but as the moment the world chose cooperation over fragmentation, unity over division, and action over inertia.
Tomorrow, she will travel to Praia, Cabo Verde, to take part in celebrations marking the 50th anniversary of the country’s independence.

GAZA 
The Secretary-General is appalled by the deepening humanitarian crisis in Gaza. Multiple attacks in recent days hitting sites hosting displaced people and people trying to access food have killed and injured scores of Palestinians. The Secretary-General strongly condemns the civilian loss of life. 
In just one day this week, Israeli orders to relocate forced nearly 30,000 people to flee, yet again, with no safe place to go and clearly inadequate supplies of shelter, food, medicine or water.
International humanitarian law is unambiguous: civilians must be respected and protected, and the needs of the population must be met.
With no fuel having entered Gaza in more than 17 weeks, the Secretary-General is gravely concerned that the last lifelines for survival are being cut off. Without an urgent influx of fuel, incubators will shut down, ambulances will be unable to reach the injured and sick, and water cannot be purified. The delivery by the United Nations and partners of what little of our lifesaving humanitarian aid is left in Gaza will also grind to a halt. 
He once again calls for full, safe and sustained humanitarian access so aid can reach people who have been deprived of the basics of life for far too long. The UN has a clear and proven plan, rooted in the humanitarian principles, to get vital assistance to civilians – safely and at scale, wherever they are. 
The Secretary-General reiterates that all parties must uphold their obligations under international law. He renews his call for an immediate permanent ceasefire and for the immediate and unconditional release of all hostages held by Hamas and other groups. 

Full Highlights:
https://www.un.org/sg/en/content/noon-briefing-highlight?date%5Bvalue%5D%5Bdate%5D=03%20July%202025

https://www.youtube.com/watch?v=9CJL7IZOkzs

Posted on

Fisheries Subsidies: Ghana’s acceptance

Source: World Trade Organization – WTO (video statements)

On 2 July, WTO Director-General Ngozi Okonjo-Iweala received Ghana’s instrument of acceptance of the Agreement on Fisheries Subsidies from Ghana’s Ambassador Emmanuel Kwame Asiedu Antwi. Just eight more acceptances are needed for the Agreement to enter into force.

Download this video from the WTO website:
https://www.wto.org/english/res_e/webcas_e/webcas_e.htm

https://www.youtube.com/watch?v=jign3P_UVmk

Posted on

Official opening of the Danish EU Presidency 2025

Source: European Commission (video statements)

On 3 July, Commission President Ursula von der Leyen holds a press conference together Danish Prime Minister Mette Frederiksen, on the start of the Danish Presidency.

The Danish EU Presidency will work for a strong and resolute EU that takes responsibility for its own security and for strengthening its competitiveness. This calls for the EU to match words with action and deliver on the challenges it faces. The green transition is essential to building a more secure and competitive Europe.

👉 Follow live events and access media content here:
https://audiovisual.ec.europa.eu/en/

🐦 Stay updated — follow us on X: https://x.com/EC_AVService

Follow us on:
-X: https://twitter.com/EU_Commission
-Instagram: https://www.instagram.com/europeancommission/
-Facebook: https://www.facebook.com/EuropeanCommission
-LinkedIn: https://www.linkedin.com/company/european-commission/
-Medium: https://medium.com/@EuropeanCommission

Check our website: http://ec.europa.eu/

https://www.youtube.com/watch?v=5qxu25VcXN0

Posted on

The Global Alliance for Trade Facilitation: Targeted Solutions, Global Impact

Source: World Economic Forum (video statements)

Trade is vital for development, but many countries face costly delays and inefficiencies. The Global Alliance for Trade Facilitation is partnering with governments, businesses, and international organizations to streamline customs, digitalize processes, and unlock global markets for SMEs.

The Alliance drives practical reforms that boost exports, cut costs, and make trade faster, safer, and more inclusive. Hear from global leaders on how public-private collaboration is reshaping trade for good.

To learn more about the Global Alliance for Trade Facilitation please visit: https://www.tradefacilitation.org/

#TradeFacilitation #DigitalTrade #SMEs #InclusiveTrade #CustomsReform

The World Economic Forum is the International Organization for Public-Private Cooperation. The Forum engages the foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas. We believe that progress happens by bringing together people from all walks of life who have the drive and the influence to make positive change.

World Economic Forum Website ► http://www.weforum.org/
Facebook ► https://www.facebook.com/worldeconomicforum/
YouTube ► https://www.youtube.com/wef
Instagram ► https://www.instagram.com/worldeconomicforum/ 
Twitter ► https://twitter.com/wef
LinkedIn ► https://www.linkedin.com/company/world-economic-forum
TikTok ► https://www.tiktok.com/@worldeconomicforum
Flipboard ► https://flipboard.com/@WEF

#WorldEconomicForum

https://www.youtube.com/watch?v=MQdqbbrULJ0