United Kingdom to Rejoin EU's Erasmus+ Program from 2027
The United Kingdom has announced its decision to rejoin the European Union's Erasmus+ student exchange program starting in January 2027. This move, part of a broader post-Brexit reset, will allow British students to study abroad in European universities and expand opportunities for various educational and training sectors. The UK will contribute approximately £570 million for the 2027/28 academic year, benefiting an estimated 100,000 people in its first year.
Greece Repays €5.29 Billion in Early Bailout Loan Payment, Signals Fiscal Strength
Greece has completed an early repayment of €5.29 billion in loans from its first bailout program, targeting the Greek Loan Facility. This strategic move aims to reduce public debt, save €1.6 billion in interest costs, and enhance the country's fiscal credibility.
Greece Repays €5.29 Billion of First Bailout Loans Ahead of Schedule
Greece has made an early repayment of €5.29 billion from its first bailout program's Greek Loan Facility (GLF), aiming to reduce public debt, save €1.6 billion in interest, and bolster market confidence. This strategic move is part of a broader effort to clear bailout obligations by 2031.
Italy Introduces 'Filter Semester' in Major Medical School Admissions Reform
Italy's Ministry of University, under Minister Anna Maria Bernini, is reforming medical school admissions for the 2025-2026 academic year. The traditional entrance exam is replaced by an 'open semester' followed by national selection exams, aiming for greater fairness and to address the national doctor shortage.
UK Economy Contracts for Second Consecutive Month in October Amid Pre-Budget Uncertainty
The UK economy shrank by 0.1% in October, marking the second consecutive monthly contraction, according to official figures from the Office for National Statistics. This unexpected decline, defying economists' forecasts, has fueled concerns ahead of the Autumn Statement and intensified calls for interest rate cuts.
Belgium Gripped by Nationwide General Strike and Demonstrations Over Austerity Measures
A nationwide general strike and demonstration took place in Brussels on December 15, 2025, organized by the United Trade Union Front. Thousands protested government budget agreements and planned austerity measures, leading to significant disruptions in public services and transport across the Wallonia-Brussels Federation.
Healthcare Costs Emerge as Top Concern for Americans, Gallup Poll Reveals
A new West Health-Gallup poll indicates that 29% of Americans identify healthcare costs as the most urgent national health problem, marking the highest level since 2004. The survey also found a record-low 16% satisfaction with U.S. healthcare costs and a record-high 23% viewing the system as 'in crisis'.
Germany Warns EU Nations on Ukraine Loan, Citing Financial Risks
Germany has cautioned EU countries that refusing to back a 'reparations loan' for Ukraine, financed by frozen Russian assets, could lead to negative financial consequences, including higher interest rates and credit downgrades. The warning comes amid deepening divisions ahead of a crucial EU summit on Ukraine's funding. Belgium and several other nations express concerns over legal and financial risks.
UK Labour Market Faces 'Gloomy Outlook' as Unemployment Hits 5.1%
The UK's labour market is experiencing a significant downturn, with the unemployment rate rising to 5.1% in October 2025, a four-year high. Businesses, as reported by the British Chambers of Commerce, are grappling with soaring employment costs, leading to reduced hiring and delayed pay rises.
Iranian Rial Plummets to New Record Low Amid Sanctions and Soaring Inflation
Iran's rial currency has fallen to a new record low against the U.S. dollar, trading at over 1.3 million rials per dollar. This sharp depreciation intensifies inflationary pressures, particularly on food prices, and is largely attributed to international sanctions, regional tensions, and recent domestic economic policy changes.
Canadian Grocery Prices Jump 4.7% in November, Outpacing Overall Inflation
Statistics Canada reported that grocery prices in Canada surged by an average of 4.7 percent year-over-year in November 2025, marking the highest increase since December 2023. This rise significantly outpaced the country's overall annual inflation rate, which held steady at 2.2 percent. Key drivers included substantial increases in the cost of fresh fruit, beef, and coffee, attributed to factors like supply chain issues, adverse weather, and lower cattle inventories.
IMF Report Highlights Luxembourg's Pension Strengths and Urgent Reform Needs
A recent IMF Technical Assistance Report on Luxembourg's pension projections indicates strong short-term forecasting accuracy but warns of significant long-term sustainability challenges. The report, published in December 2025, calls for timely reforms, including adjusting the retirement age and re-evaluating contribution rates, to address future demographic pressures.
UK Property Transactions Forecast to Decline by 1% in 2026 Amid Affordability Pressures
UK Finance predicts a 1% drop in property transactions for 2026, translating to 10,000 fewer sales than in 2025. This downturn is primarily attributed to challenging affordability pressures, with high mortgage payments impacting borrower income across the United Kingdom.
Iceland's Central Bank Raises Alarm Over Expanded Equity Loan Proposals
Iceland's Central Bank has voiced concerns over proposed changes to equity loan rules, warning that broadening eligibility could inflate house prices and undermine economic stability. The Bank urged lawmakers to revise the bill to maintain the scheme's original purpose for first-time and lower-income buyers.
Greek Farmers Escalate Protests, Reject Government Talks Amid Subsidy Scandal
Greek farmers have escalated their three-week-long protests, rejecting a government invitation for talks. The demonstrations, marked by widespread traffic disruptions across Greece, are fueled by delayed EU subsidy payments, rising production costs, and a corruption investigation into the agricultural payments agency OPEKEPE.
Greek Farmers Escalate Protests, Reject Government Talks Amid Subsidy Dispute and Corruption Probe
Greek farmers have rejected a government invitation for talks, vowing to intensify their three-week-long protests. The demonstrations, which have caused widespread traffic disruptions, are fueled by delayed EU subsidy payments, a corruption investigation into the agricultural payments agency OPEKEPE, rising production costs, and demands for stronger state support.
Greek Public Sector Union ADEDY Calls Nationwide Strike on December 16 Over Budget and Farmer Solidarity
Greece's Civil Servants' Confederation (ADEDY) has announced a 24-hour nationwide public sector strike for December 16, 2025. The strike protests the government's new budget and expresses solidarity with ongoing farmer demonstrations across the country, which have seen widespread blockades.
Greek Farmers Escalate Protests Amidst EU Subsidy Delays and Corruption Probe
Greek farmers have rejected government talks, escalating their three-week protests across the country. Disruptions are widespread due to delayed EU subsidy payments, a corruption investigation into the OPEKEPE agency, and demands for state support against rising costs and livestock losses.
Canada and Nova Scotia Announce $300 Million Housing Partnership for 1,430 New Affordable Homes
The Governments of Canada and Nova Scotia have committed $300 million to develop 1,430 new affordable homes across the province. This includes 930 units in Shannon Park, Dartmouth, and 500 non-profit and community units, with construction expected to begin in 2026.
Canadian Libraries Raise Alarm Over Threatened Reduced Shipping Rates in Federal Budget Bill
Libraries across Canada are expressing significant concern over proposed changes in federal budget Bill C-15, which could eliminate legislated reduced postal rates for shipping library materials. Advocates warn that removing this protection could jeopardize interlibrary loan programs, increase costs for patrons, and potentially lead to the closure of rural library facilities, despite assurances from Canada Post. The 'library book rate' covers approximately 90% of shipping costs for eligible materials.
