Good morning. Mared Gwyn here with your Friday newsletter.
If you missed the action from last night’s football World Cup opener in Mexico City’s historic Estadio Azteca – which included a sizzling performance by Colombian superstar Shakira, three red cards and a convincing win for the home team – we have awrap for you.
But first, the head of the International Monetary Fund (IMF) Kristalina Georgieva has told Europe Today that the EU faces a “difficult balancing act” as it grapples with the economic fallout of the Iran war.
“Unfortunately the conditions have worsened since we put out a projection for European growth and inflation in April,” Georgieva explained. “It is now even worse, so we are downgrading our projections for the Eurozone, and lifting again our inflation projections.”
The IMF chief also called on the EU to ensure that its budget, currently under negotiation, has the “strength to lift up productivity and growth in Europe”, adding that this means “funding together where together Europe can be more impactful” - in an endorsement of further joint borrowing. Watch.
