Starmer Gets A Reprieve, EU Maps Ukraine Entry, More
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The British Prime Minister Keir Starmer appears to have won a reprieve from a potential leadership challenge after all members of his cabinet backed him to stay on. It came after a second top adviser resigned and the leader of the Labour Party in Scotland called on Starmer to go. Across Labour's political spectrum, MPs and ministers posted messages of support on social media. Even potential leadership challengers like former Deputy Prime Minister Angela Rayner and Health Secretary Wes Streeting had backed Starmer. Let's give Keir, like, just give Keir that chance. Let him set out how he's going to lead us forward. West Reading was speaking to a Sky News podcast. His comments came after Labour's leader in Scotland, Anna Sarwar, called on Starmer to step down.
The situation in Downing Street is not good enough. There have been too many mistakes. They promised they were going to be different, but too much has happened.
Sarwer's wing of the party faces a wipeout in Scottish parliamentary elections in May, as does Labour's campaign in Wales. The support gives Starmer more time in the top job, but his record low polling and upcoming local elections are adding to a growing sense of crisis in Downing Street.
Bloomberg has learned that the European Union is preparing options to embed Ukraine's future EU membership into any peace deal with Russia. Formal negotiations on EU membership began in 2024, but the process has been stalled by objections from Hungary. With more, here's our chief Europe correspondent, Oliver Crook.
Sources say the options now under consideration include providing Ukraine with the protections that come with EU accession up front, as well as immediate access to some membership rights. At the same time, the bloc would give Ukraine a clear time frame, as well as outline the steps it needs to take in order to advance through the formal accession procedure, which normally takes many years and requires the backing of all member states. A draft peace plan anticipates EU membership in 2027, with Kiev receiving some benefits from membership in the interim. In response to questions from Bloomberg, a spokesman for the European Commission said Ukraine's future accession to the EU is part of the discussion on a peace agreement.
Oliver Crook, Bloomberg Radio.
European Central Bank President Christian Lagarde is urging politicians to push for deeper financial integration fast. The central banker told the European Parliament the bloc urgently needs to improve its growth and productivity.
These reforms are not abstract. They are the practical foundations of resilience and sovereignty in a world where economic power is increasingly exercised through finance, technology, and trade.
The ECB president is calling for faster progress on financial market integration, cutting regulation and creating a digital version of the euro. Despite a major report on the need for reform from Lagarde's predecessor Mario Draghi in 2024, the EU has so far not made significant progress on implementing his recommendations.
What recent challenges has UK Prime Minister Keir Starmer faced?
France's central bank governor, François Villereux de Gallo, surprised many yesterday by announcing that he will step down in June this year, more than a year before the end of his term. Villereux de Gallo insists that his decision to leave early is a personal one to allow him to run a charitable foundation for young people. However, the move gifts President Emmanuel Macron the opportunity to appoint the next governor rather than leaving that decision to his successor. Charles-Henri Monchaux is CIO at Banksy's.
I think it's going to be a very normal, unusual process in terms of replacements.
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