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Latest news - AFET committee meetings - Committee on Foreign Affairs

Next AFET committee meeting will be held on:

  • Monday 4 and Tuesday 5 May 2026, room ANTALL 2Q2, Brussels
  • Thursday 7 May 2026, room ANTALL 4Q1, Brussels - extraordinary meeting "in camera"
Meetings are webstreamed with the exception of agenda items held "in camera".


AFET - DROI calendar of meetings 2026
Meeting documents
Webstreaming
Source : © European Union, 2026 - EP
Catégories: Afrique, European Union

EXCLUSIF : Bruxelles devrait accueillir les talibans pour des discussions sur les expulsions d’Afghans

Euractiv.fr - mar, 21/04/2026 - 10:08

Ces discussions controversées devraient se tenir dans un lieu neutre, comme un hôtel de la capitale belge, plutôt que dans les locaux de l'UE

The post EXCLUSIF : Bruxelles devrait accueillir les talibans pour des discussions sur les expulsions d’Afghans appeared first on Euractiv FR.

Catégories: France, Union européenne

Trump’s Apocalyptic Rhetoric Echoes Nuclear Annihilation

Africa - INTER PRESS SERVICE - mar, 21/04/2026 - 10:08

Injured civilians, having escaped the raging inferno, gathered on a pavement west of Miyuki-bashi in Hiroshima, Japan, at about 11 a.m. on 6 August 1945. Credit: UN Photo/Yoshito Matsushige

By Alon Ben-Meir
NEW YORK, Apr 21 2026 (IPS)

It is hard to exaggerate the dire implications of Trump’s April 7 post on Truth Social, stating that a civilization will die tonight, never to be brought back again,” if no deal is reached with Iran. Such a damning statement implies that he would use ‘weapons of mass destruction,’ i.e., nuclear, to execute his threat.

Obviously, he cannot destroy such a huge country and annihilate a population of 95 million with conventional weapons. Even though Trump was unlikely to carry out his threat, what he said was not taken lightly by either Iran or much of the international community.

International Outrage Over Trump’s Threat

Trump’s outrageous statement has drawn an extraordinary wave of condemnation, from Tehran to the Vatican to international rights bodies.

Amnesty International’s Secretary General denounced Trump’s screed as an “apocalyptic threat,” warning that his vow to end “a whole civilization” exposes “a staggering level of cruelty and disregard for human life” and should trigger urgent global action to prevent atrocity crimes.

Pope Leo XIV called the language “truly unacceptable,” and UK Prime Minister Starmer condemned Trump’s threat, stating that “they are not words I would use — ever use — because I come at this with our British values and principles.”

Together, these reactions, among many others, underscore that Trump’s rhetoric is not being treated as mere bombast, but a genocidal threat that shreds basic norms of international law.

Iranian Officials’ Reaction to Trump’s Statements

The Iranian Embassy in Pakistan mocked the idea that Trump could erase a culture that survived Alexander and the Mongols, insisting that civilizations “are not born over a night and will not die over a night.”

Trump’s vows to “bring [Iranians] back to the Stone Ages” and to let “a whole civilization…die” have, indeed, landed in Tehran not as an outburst. Iranian leaders are treating this language as an open admission of an intent to commit war crimes—and they are already treating it as a narrative of existential struggle with Washington.

In the hands of the Revolutionary Guard, the “Stone Age” threat becomes a propaganda gift: it is proof, they claim, that the United States does not merely oppose the regime, but dreams of erasing an entire people.

The IRGC’s response has been defiant rather than cowed, promising “stronger, wider, and more destructive” retaliation and signaling that any American escalation will be met in kind.

To be sure, many Iranian leaders see Trump’s posts as desperate brinkmanship—a schoolyard bully bluffing nuclear annihilation he cannot deliver. That interpretation may calm nerves around the country, but it might also tempt Tehran to call his bluff, raising the risk of miscalculation.

Under any circumstance, Trump has provided Iran’s rulers the opportunity to claim that any concession wrung from Washington under such apocalyptic pressure is not capitulation. Still, Iran’s millennium-old history attests that these proud people with the richest civilization will not succumb to any threat.

The Iranian Public’s Reaction

Trump’s promise to “hit Iran extremely hard” also operates as psychological warfare against an already exhausted society. They place the threat of physical destruction on top of years of sanctions, economic meltdown, and repression.

For many Iranians, especially parents and the elderly, hearing a US president casually warn that “a whole civilization will die tonight” converts abstract geopolitics into an intimate dread they can imagine and quantify: hospitals without power, children without food and water, people starving to death, and cities lying in ruins.

This deepens their anxiety, concerns, and a sense that they are being collectively punished for decisions made by a mad authoritarian whose genocidal tone hardens a defensive nationalism. Even the Iranians who despise the regime still view the threat as an assault on a 3,000-year-old culture. They would rally around the flag, as they see their own lives as expendable in a struggle where the alternative, as Trump himself spells out, is civilizational extinction.

On the Iranian street and in the diaspora, one hears echoes of Trump’s rhetoric triggering a volatile mix of fear, fury, and contempt that the regime can readily weaponize. For some Iranians, talk of a “civilization” dying reopens the psychic wounds of crippling sanctions and war, making American threats feel dreadfully real, not figurative.

For others, it’s an insufferable insult to an ancient culture that predates the United States by millennia, reinforcing national pride and engendering support even among critics of the clerics.

Trump’s Fitness to Command American Power

These Iranian reactions rebound into US politics because a president whose threats are interpreted abroad as genocidal, unhinged, or clearly insane is not projecting resolve but publicizing volatility and strategic incoherence.

This inevitably undermines deterrence and hands Iran both a recruitment tool and a pretext for escalation if they must.

On the home front, the perception of a man on the loose feeds directly into already fierce debates over Trump’s mental fitness to command American power—arming critics who argue that his apocalyptic language is not just morally repugnant but operationally unthinkable.

This led even some Republicans and national security conservatives to ask whether a commander in chief who casually talks of destroying a “civilization” and whose finger is on the nuclear button can be trusted with the judgment, discipline, and national security on which the US ultimately depends.

When a president of the United States threatens that a whole civilization will die, the world must listen—not because the threat is necessarily credible, but because it exposes the peril of letting unrestrained rhetoric shape global realities.

Trump’s words are not the tantrum of a man out of power; they echo a worldview that wields extinction as diplomacy and gambles civilization itself for theatrical dominance and projection of raw power.

Trump’s declaration that millions might perish is not merely the ravings of an unbalanced mind—it is a chilling testament to how easily words can imperil peace when uttered by one who commands the world’s most formidable military.

His invocation of civilizational death transcends political recklessness; it reveals a moral collapse that renders him ominously unfit to wield influence over American power and global order.

There seems to be no level of disgrace that Trump will not embrace. One day, he threatens to wipe out a whole civilization and exterminate 95 million Iranians; the next, he portrays himself in an AI-generated image as Jesus Christ-like savior healing the sick—a blasphemy that only Trump can commit, debasing the exalted and sublime values of Christianity only to feed his sick soul.

What was once dismissed as bluster must now be recognized for what it is—a warning that when dangerous mendacity meets bottomless ego, humanity itself becomes collateral. The world cannot allow a madman’s narrative to become the language of statecraft.

Dr. Alon Ben-Meir is a retired professor of international relations, most recently at the Center for Global Affairs at NYU. He taught courses on international negotiation and Middle Eastern studies.

IPS UN Bureau

 


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Catégories: Africa, European Union

Coup de froid entre Giorgia Meloni et Donald Trump: «C'est un infléchissement et non une rupture»

RFI (Europe) - mar, 21/04/2026 - 09:48
« Je suis choqué, je pensais qu'elle avait du courage, je me trompais » a dit Donald Trump à propos de Giorgia Meloni qu'il qualifiait il n'y a pas si longtemps de « source d'inspiration ». La présidente du conseil italien vantait pourtant une relation « spéciale » avec Washington. Mais Rome a refusé de s'aligner avec les États-Unis sur la guerre au Moyen-Orient, très impopulaire, et qui coûte cher à l'Italie. Il y a eu aussi les attaques de Donald Trump contre le pape Léon XIV, « sacrilège » pour de nombreux Italiens. Vraie rupture diplomatique ou prise de distance stratégique pour Giorgia Meloni, fragilisée sur le plan intérieur ? Marc Lazar, professeur à Sciences Po et à l'université Luiss de Rome, est le grand invité international de Charlotte Idrac.

La RDC et la Zambie s'activent pour moderniser leurs infrastructures frontalières

Radio Okapi / RD Congo - mar, 21/04/2026 - 09:41


Le ministre congolais du Commerce extérieur, Julien Paluku Kahongya, et son homologue zambien du Commerce et de l’Industrie, Chipoka Mulenga, se sont réunis ce lundi 20 avril à Kinshasa. Au cœur des échanges : l'évaluation de leur accord commercial bilatéral et la mise en œuvre de projets d'infrastructures frontalières stratégiques.

Catégories: Afrique, European Union

Orbáns Abwahl kann der Beginn einer demokratischen Zeitenwende sein

Ungarn hat es geschafft: Ein autokratisches Regime wurde an der Wahlurne gestürzt. Deutschland muss daraus lernen und die AfD-Propaganda endlich entlarven., Die überwältigende Abwahl Viktor Orbáns bei der ungarischen Parlamentswahl ist ein Zeichen der Hoffnung – für Ungarn, für Europa und für die liberale Demokratie weltweit. Péter Magyar und seine Tisza-Partei haben mit einer Zweidrittelmehrheit und einer Rekordwahlbeteiligung von fast 80 Prozent ...

Modi Government Suffers Setback as Constitutional Amendment Defeated in Parliament

TheDiplomat - mar, 21/04/2026 - 09:36
It clubbed an already passed amendment on women’s reservation with the controversial amendment to delimit electoral boundaries. The ploy flopped.

A Brief History of Southeast Asia’s Streaming Wars

TheDiplomat - mar, 21/04/2026 - 09:31
The region offers a market with untapped potential for streaming entertainment, and one where disposable income is likely to rise in the years to come.

L’UE ouvre ses bras aux talibans

Euractiv.fr - mar, 21/04/2026 - 08:34

Également dans l'édition de mardi : Anthony Whelan, la Bosnie, l'oléoduc Druzhba, le responsable belge de la lutte contre l'antisémitisme, la Russie, les nominations au gouvernement de Magyar

The post L’UE ouvre ses bras aux talibans appeared first on Euractiv FR.

Catégories: France, Union européenne

DRAFT RECOMMENDATION on the draft Council decision on the conclusion of the Agreement between the European Union and Canada laying down the conditions for the participation of Canadian legal entities and products originating in Canada to procurement...

DRAFT RECOMMENDATION on the draft Council decision on the conclusion of the Agreement between the European Union and Canada laying down the conditions for the participation of Canadian legal entities and products originating in Canada to procurement under the SAFE Instrument
Committee on Industry, Research and Energy
Committee on Security and Defence
Marie-Agnes Strack-Zimmermann, Borys Budka

Source : © European Union, 2026 - EP

DRAFT RECOMMENDATION on the draft Council decision on the conclusion of the Agreement between the European Union and Canada laying down the conditions for the participation of Canadian legal entities and products originating in Canada to procurement...

DRAFT RECOMMENDATION on the draft Council decision on the conclusion of the Agreement between the European Union and Canada laying down the conditions for the participation of Canadian legal entities and products originating in Canada to procurement under the SAFE Instrument
Committee on Industry, Research and Energy
Committee on Security and Defence
Marie-Agnes Strack-Zimmermann, Borys Budka

Source : © European Union, 2026 - EP

Crise à l'assemblée provinciale de l’Équateur : le président Delssy Mata convoqué à Kinshasa

Radio Okapi / RD Congo - mar, 21/04/2026 - 08:32


Le vice-premier ministre, ministre de l'Intérieur, a convoqué d'urgence à Kinshasa le président de l'assemblée provinciale de l'Équateur, Delssy Mata. Cette décision intervient après une plénière mouvementée à Mbandaka, marquée par une divergence totale sur les poursuites judiciaires visant le gouverneur Bobo Biloko Bolumbu.

Catégories: Afrique, European Union

La France prête à rester "engagée" au Liban en cas de départ de la Finul, dit Emmanuel Macron

France24 / France - mar, 21/04/2026 - 08:10
Le Premier ministre libanais, Nawaf Salam, a été reçu mardi à l'Élysée par Emmanuel Macron. Le président français a plaidé pour un accord entre Israël et le Hezbollah qui garantirait "l'intégrité territoriale du Liban", assurant qu'Israël devait "renoncer à ses visées territoriales". Le président français a ajouté que le Hezbollah devait être désarmé "par les Libanais".
Catégories: European Union, France

Forum des AS : « La coalition ‘RDF-AFC/M23 viole déjà ses engagements’, accusent les FARDC »

Radio Okapi / RD Congo - mar, 21/04/2026 - 08:09


Les journaux et media en ligne parus mardi 21 avril 2026 à Kinshasa se focalisent sur l’escalade de la violence dans l’Est de la RDC, malgré les avancées enregistrées dans les négociations à Montreux (Suisse)


Revue de presse du mardi 21 avril 2026

Catégories: Afrique, European Union

Le pape Léon XIV en Guinée équatoriale, dernière étape de sa tournée africaine

France24 / Afrique - mar, 21/04/2026 - 07:55
Léon XIV entame, mardi, la quatrième et dernière étape de sa tournée africaine avec une visite en Guinée équatoriale. Le pape sera attendu sur le terrain sensible du pluralisme politique et des libertés publiques dans cet État qui est l'un des plus fermés du continent africain.
Catégories: Afrique

The Middle East War Triggers a Move to Boost North Korea’s Nuclear Arsenal

Africa - INTER PRESS SERVICE - mar, 21/04/2026 - 07:39

North Korea’s ballistic missile. Credit: Wikipedia

By Thalif Deen
UNITED NATIONS, Apr 21 2026 (IPS)

The ongoing military conflicts in the Middle East—involving the US, Israel, Palestine, Iran and Lebanon—have indirectly bolstered North Korea’s plans to expand its nuclear arsenal.

North Korean leader Kim Jong-un is quoted as saying the American attacks on Iran justified his decision to strengthen his military power and would eventually make his country safe in a world shaped by President Trump’s foreign policy.

The headline in a New York Times article last week read: “North Korea Tests New Weapons, Drawing Lessons from War in the Middle East”.

Among the weapons tested were missiles carrying cluster munition and graphite bomb payloads, much like weapons that have appeared in the Middle East, the Times said.

The testing signals that North Korea is trying to learn from the Middle East war.

Responding to President Trump’s interest in meeting with him, the North Korean leader has said he would agree to a meeting, only if the US formally recognizes his country as a nuclear power—and argued that leaders of Iraq and Libya would have survived US attacks if they possessed a nuclear deterrent.

“I don’t see any reason not to get along well with the United States if it withdraws its hostile policy towards us and respects our current (nuclear) status”, he said in a speech last February.

Trump met with the North Korean leader three times during his first term in office (2017–2021), including summits in Singapore (June 2018) and Hanoi (February 2019), followed by a brief meeting at the DMZ (June 2019), where Trump became the first sitting U.S. president to enter North Korea.

Meanwhile, the Washington-based Stimson Center points out that despite stringent international economic sanctions imposed primarily through the UN Security Council, North Korea’s progress in nuclear and missile development as well as in its nuclear doctrine has been remarkable, particularly since negotiations with the Trump administration stalled in 2018-19.

North Korea’s position that denuclearization is non-negotiable was again emphasized at their most recent Party Congress held in February 2026.

Dr M.V. Ramana, Professor and Simons Chair in Disarmament, Global and Human Security, Director pro tem, School of Public Policy and Global Affairs at the University of British Columbia, Vancouver, told Inter Press Service the attacks by the United States and Israel on Iran are unprovoked and further add to the incentive for countries to acquire nuclear weapons.

“There is no way to be sure that such acquisition would shield such countries under all circumstances, especially when military powers like the United States act with such belligerence”.

But rather than go down that direction, he pointed out, “our efforts should be focused on ensuring that countries do not resort to military violence and attacking other countries, and differences are settled through peaceful and diplomatic means.

While the current leaderships in many countries might not be inclined to act in such ways, it is up to civil society and social movements to help steer governments in a more peaceful direction, declared Dr Ramana.

North Korea has made “very serious” progress in its ability to produce more nuclear weapons, the head of the UN’s nuclear watchdog has said, in another sign that the regime is seeking to use its nuclear arsenal to ensure its survival, according to the London Guardian.

North Korea is thought to have assembled about 50 nuclear warheads, although some experts are skeptical of its claims that it is able to miniaturize them so they can be attached to long-range ballistic missiles.

Speaking during a visit to Seoul, Rafael Grossi, the head of the International Atomic Energy Agency (IAEA), confirmed reports of a rapid rise in activity at North Korea’s main nuclear complex, Yongbyon.

Grossi said work had intensified at Yongbyon’s 5MW reactor, reprocessing unit, light water reactor and other facilities, and the country was believed to possess several dozen nuclear warheads.

In an interview with IPS, Alice Slater, who serves on the Boards of World Beyond War and the Global Network Against Weapons and Nuclear Power in Space and is also a UN NGO Representative for the Nuclear Age Peace Foundation, told IPS “once again, North Korea is being singled out as a rogue state for complaining that its plans to strengthen its military capacity is justified given the US destruction of Iraq and Libya which never made any effort to go nuclear as North Korea did.”

It was widely unreported, she said, that North Korea was the only nuclear country to support a vote in 2016 at the UN First Committee that authorized negotiations to go forward on a treaty to ban nuclear weapons which resulted in the 2017 adoption of the Treaty for the Prohibition of Nuclear Weapons.

Every single nuclear state as well as the states sheltering under the US nuclear umbrella, she pointed out, boycotted the meeting (except the Netherlands which was ordered to attend the UN meeting by a vote of its Parliament).

Which ones were the real rogue states? she asked.

While the news, dominated by what has been described by Ray McGovern founder of Veterans Intelligence Professions for Sanity as part of the MICIMATT (the Military Industrial Congressional Intelligence Media Academic Think Tank complex), is now trumpeting the new nuclear dangers and the frightening prospects of potential proliferation of nuclear weapons to additional nations, no attention is being paid to the opportunities to put a halt to the burgeoning nuclear arms race and the US race to weaponize space, characterized most recently by US plans for a “Golden Dome” estimated to cost 1.5 billion over the next years.

“There is a clear connection,” said Slater, “between maintaining space for peace and the willingness of Russia and China to negotiate for nuclear disarmament, going back to the time when Gorbachev proposed to Reagan that the US and Russia eliminate their nuclear arsenals provided the US gave up its plans to dominate and control space in its Vision 2020 document.”

While Reagan liked the idea of nuclear abolition, he refused to give up his Star Wars plans. Russia and China tabled a draft treaty in the consensus-bound UN Committee in Geneva in 2014 and 2018 which the US blocked, refusing to allow any discussion.

This past May 2025, on the 80th Anniversary of WWII, they issued a stunning proposal calling for global cooperation, supporting the “central coordinating role of the UN” and asking for a number of steps that could increase “strategic stability

In particular, they criticized the US Golden Dome program, urging the need for the early launch of negotiations to conclude a legally binding multilateral instrument based on their draft treaty on the prevention of weapons and the use of force in outer space. They even pledged to promote an international commitment “not to be the first to deploy weapons in outer space”.

“Were the peace and arms control movements in the world to take up this extraordinary call and opportunity to reverse the disastrous course we appear to be plummeting towards—and demand that our governments enter negotiations on a treaty to guarantee that we will maintain a weapons and war free environment in space, there is little doubt that a new path will also be opened to finally ban the bomb”.

Time to give peace a chance, declared Slater.

Meanwhile, States Parties to the Nuclear Nonproliferation Treaty (NPT) will be meeting at the United Nations for the 2026 NPT Review Conference April 27-May 22.

The Review Conference comes at a time of increased nuclear threats arising from armed conflicts involving nuclear armed States, in particular the Russian invasion of Ukraine and the US/Israel invasion of Iran.

“This will make the deliberations and negotiations in New York very difficult, but also extremely important”, according to Parliamentarians for Nuclear Non-proliferation and Disarmament (PNND).

The PNND says it will be actively involved in the Review Conference – in conjunction with activities in parliaments around the world – to support the NPT by advancing nuclear risk-reduction, nuclear arms control, common security and the global elimination of nuclear weapons.

IPS UN Bureau Report

 


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Catégories: Africa, European Union

Grèce : des forages en mer qui inquiètent les organisations environnementales

Courrier des Balkans - mar, 21/04/2026 - 07:04

La signature d'un accord pour l'exploration d'hydrocarbures en mer Ionienne marque une nouvelle étape dans la stratégie énergétique grecque. Derrière les promesses économiques, les organisations de défense de l'environnement s'inquiètent.

- Le fil de l'Info / , , ,

“War-Shock Inflation” and Inflation Phobia: Lessons of History for Central Bankers

Africa - INTER PRESS SERVICE - mar, 21/04/2026 - 06:58

By Anis Chowdhury
SYDNEY, Apr 21 2026 (IPS)

The global economy, is at the precipice of “stagflation” – growth slowdown and higher inflation – due to the energy price shock following the illegal US-Israel war on Iran. The International Monetary Fund (IMF) has recently termed this as a “textbook negative supply shock”. For the first time since the 1970s, the prospect of stagflation seems real.

Anis Chowdhury

What can central bankers learn from the 1970s stagflation?

Prospects of global stagflation

The IMF simulated three possible macroeconomic scenarios depending on the duration of this conflict and the extent of damages to energy infrastructure in the region. These range from a marginal drop in this year’s forecast global growth rate – from 3.4% to 3.1% – to a moderate decline to 2.5% and a sharp decline to 2%. The projected spikes in “headline inflation” – covering all goods and services, including volatile items, e.g., energy and food – range from 4.4% to 5.8% in 2026.

The IMF rightly doubts whether inflation can be checked with monetary tightening without causing substantial increase in unemployment. But it does not offer any solutions; instead advises the central banks to remain ready “to act decisively to maintain price stability”.

The IMF’s overall policy advice is conservative. However, it acknowledges the need for monetary and fiscal policy to support economic activities if the if financial conditions tighten sharply and global activity deteriorates markedly.

Inflation phobia and policy over-reaction

Ben Bernanke and his co-researchers found that the recession in the 1970s did not result from the oil-price shocks “per se, but from the resulting tightening of monetary policy”. Bob Barsky and Lutz Kilian found “that the oil price increases were not nearly as essential a part of the causal mechanism generating the stagflation of the 1970s as is often thought”. Ed Nelson blamed central banks’ “faulty doctrine” for the 1970s stagflation.

So, it was not inflation that caused output to decline, but rather, inappropriate and draconian efforts to curb inflation that inevitably repressed growth, and produced world’s first stagflation. This may happen again if central bankers overreact and tighten the financial conditions to kill the current “textbook supply shock” inflation.

The problem is the central bankers’ dogmatic group-thinking despite contrary empirical evidence. For example, the fear of unhinged inflation expectations and wage-price spirals do not have any empirical basis as reported in IMF research and the Australia’s Reserve Bank.

Yet, the central bankers and the IMF favour monetary tightening fearing the risk of “unhinged” inflation expectations and wage-price spirals.

Revisiting the inflation target

The central bankers’ group-thinking bias insists on an inflation target of 2% – a figure “plucked out of the air”, yet became “global economic gospel”. Don Brash, the acclaimed former Governor of the Reserve Bank of New Zealand, who was the first central bank governor to adopt a 2% inflation target admitted that it was based on a chance remark by then New Zealand Finance Minister Roger Douglas “during the course of a television interview”. It became “the mantra, repeated endlessly” as Brash and his colleagues “devoted a huge amount of effort” to preaching his new gospel “to everybody who would listen – and some who were reluctant to listen”.

Olivier Blanchard, the IMF’s former Chief Economist, questioned the wisdom behind the 2% inflation target and argued for a higher, e.g., 4% target following the 2008-2009 global financial crisis. IMF research also advocated for a long-run inflation target of 4%. Such a moderately higher inflation should widen policy space.

Joe Gagnon and Chris Collins argued that “the case for raising the inflation target is stronger” than it is usually thought. Their research revealed that “the benefits [of a higher inflation target] clearly exceed the costs”.

Thus, one should not be surprised when The Financial Times says, “It is time to revisit the 2% inflation target”.

Rethinking inflation

Almost all central bankers see inflation as an outcome of excess demand, caused by either an increase in aggregate demand or a decrease in aggregate supply at a given price. Prices rise to eliminate the excess demand.

A common view is that higher prices lead to demand for higher wages which in turn cause higher prices, thus generating wage-price spirals. Therefore, central bankers focus on containing demand by raising interest rate regardless of the sources of inflation.

On the other hand, optimal policy-mix differ when inflation is seen as the result of a distributional conflict or disagreement. Guido Lorenzoni and Iv´an Werning analysed the impacts of supply shocks arising from “non-labour” inputs, such as energy under the different relative bargaining powers of labour and firms where the non-labour input price is perfectly flexible, and goods prices are more flexible than wages.

They found that the optimal policy response to a supply shock coming from the scarce non-labour input is to “run the economy hot”, i.e., to allow demand to exceed supply capacity and higher inflation. Their findings imply that it would be more efficient to reach the adjustment with the help of higher price inflation than through lower price inflation and deeper wage deflation by causing higher unemployment.

David Ratner and Jae Sim analysed the trade-off of anti-inflationary measures considering inflation as an outcome of distributional conflict. They found that restrictive anti-inflationary measures are more costly in terms of unemployment.

Interestingly, their finding corroborates the IMF’s observation that the aggregate supply curve has become flatter making restrictive anti-inflationary measures more costly in terms of higher unemployment. Unfortunately, the central bankers’ anti-inflation group bias dismisses the higher unemployment or growth declines due to restrictive policies as “short-term pains for long-term gains”.

Recent IMF research revealed permanent scars of recessions, including those arising from external shocks and macroeconomic policy mistakes; they all “lead to permanent losses in output and welfare”. The Lancet reported “substantial effects on suicide rates”. The Body Economic: Why Austerity Kills, investigated the human cost of austerity policies during economic crises to emphasise that health indicators can significantly deteriorate.

Optimal policy response

In light of the above, the central bankers should reconsider their hawkish anti-inflationary policy-setting.

The governments around the world are trying to ease fuel-price impacts by fiscal measures such as a temporary reduction of fuel excise duty, subsidies and price caps. The mainstream commentators, including the IMF, argue that these measures may have significant fiscal costs if the crisis lingers on, and would put extra-burden on central banks, which are focused on controlling inflation.

Significantly, the optimal policy-mix should include tax revenue raising measures. Governments should consider enhancing tax progressivity. In particular, an excess profit tax should be imposed on the beneficiaries of higher interest rates and fuel prices, such as banks and fuel companies to fund cost of living support measures.

Dr. Ken Henry, Australia’s former Treasury Secretary has recently argued that a 100% tax on windfall profits from gas would be “socially optimal”. Tony Wood held “A windfall profit tax may be the least-worst solution to the gas crisis”.

Research based on US data reveals that an excess profit tax reduces existing racial and ethnic inequalities and inequalities between groups with different educational attainments. It can also accelerate renewable energy transition when increasing geopolitical tensions and climate impacts threaten continued volatility in fossil fuel and gas markets.

Anis Chowdhury, Emeritus Professor, Western Sydney University (Australia). He held senior UN positions in Bangkok and New York and served as Special Assistant to the Chief Advisor for Finance (with the status and rank of State Minister) in the Professor Yunus-led Interim Government. E-mail: anis.z.chowdhury@gmail.com

IPS UN Bureau

 


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Catégories: Africa, European Union

Peter Magyar presse le président hongrois de convoquer le nouveau Parlement le plus tôt possible

RFI (Europe) - mar, 21/04/2026 - 06:48
Depuis sa victoire triomphale aux élections législatives du 12 avril dernier, Peter Magyar ne perd pas une minute. Il presse le président de la République de convoquer le nouveau Parlement le plus tôt possible, première étape avant la formation du gouvernement. Lundi, le futur Premier ministre a présenté une partie de sa nouvelle équipe. Si le vainqueur d'Orban met la pression, c’est d’abord pour pouvoir négocier rapidement avec Bruxelles le rapatriement des fonds européens destinés à la Hongrie. Mais c’est aussi pour abréger la période de transition entre les deux gouvernements.

James Swan réaffirme l’engagement de la MONUSCO à protéger les civils

Radio Okapi / RD Congo - mar, 21/04/2026 - 06:22


Le Représentant spécial du Secrétaire général de l'ONU en RDC, James Swan, a réaffirmé, lundi 20 avril à Beni (Nord-Kivu), l’engagement de la MONUSCO à assurer la protection des populations civiles à travers la République démocratique du Congo.

Catégories: Afrique, European Union

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