EU Migration Pact in force: The EU’s new Migration and Asylum Pact starts today, aiming to speed up border screening and asylum decisions, with faster tracks for “safe” countries and security risks, plus a solidarity mechanism that can mean cash or relocation support for frontline states. ECB restarts rate hikes: The European Central Bank raised rates by 0.25 points to 2.25%, citing inflation pressure tied to the Middle East conflict and energy costs, while growth forecasts stay modest. World Bank growth cut: The World Bank downgraded global growth to 2.5%, blaming the Iran war for energy shocks, higher financing costs and disrupted trade routes. EU budget talks heat up: Cyprus has circulated an updated “nego-box” for the 2028–2034 EU budget, with negotiations now moving from broad plans to concrete numbers. Cyprus property case: The Council of Europe rejected Turkey’s claim of compliance in the Cyprus property dispute, keeping the ECHR judgment under supervision. EU–Korea security alignment: South Korea’s President Lee’s Europe trip highlighted closer EU-Seoul strategic alignment as wars and energy shocks push both sides to coordinate. NATO uncertainty: Reports say the US is considering cutting about a third of fighter jets assigned to NATO operations in Europe, raising questions for alliance planning. Crypto and scams: Fake AI ads on X using Nigel Farage’s likeness are linked to crypto trading scams, as regulators and platforms face renewed pressure. AI reshapes banking jobs: Major banks are shifting hiring toward AI screening and automation, with graduates facing tougher entry and fewer junior roles.