'Governments are once again challenging the authority of central bankers'

Pope Leo has emphasized the critical role of European nations, particularly Italy, in mediating peace talks aimed at resolving the ongoing conflict in Ukraine, amidst stalled negotiations between Russia and the US. The pontiff's remarks come as tensions escalate, with Russian President Vladimir Putin accusing Europe of obstructing peace efforts.

Ukrainian President Volodymyr Zelensky met with French President Emmanuel Macron in Paris to bolster European support amid ongoing discussions for a peace plan to end the conflict with Russia. Macron emphasized that any resolution must involve Kyiv and European powers, highlighting the critical nature of this diplomatic engagement at a pivotal moment in the war.

The OECD has cautioned that Chancellor Rachel Reeves' strategy of higher taxes and spending restraint will hinder consumer expenditure in the UK, despite forecasts indicating that the UK economy will grow faster than France, Germany, and Italy next year. This fiscal consolidation is expected to limit household disposable income and slow consumption.

A statue of opera legend Luciano Pavarotti has been installed knee-deep in an ice rink in Italy, prompting criticism from his widow, who described the decision as absurd. The town has also encouraged skaters to interact with the statue by high-fiving it, which has drawn further disapproval.