European Union suspends Georgia's accession process
Category
World
Publication date

European Union suspends Georgia's accession process

Georgia and EU

After the summit of the European Council, EU leaders decided to suspend Georgia's entry into the economic and political bloc.

Points of attention

  • EU leaders have decided to freeze defence support for Georgia and cut direct aid, shifting it to civil society.
  • The government of Georgia adopted a billon "foreign agents", which became an obstacle to the start of negotiations on joining the EU.
  • Despite the suspension of the process, hopes for further expansion of the EU remain, but Georgia's fate remains unclear.

The process of Georgia's integration into the EU can be resumed after the October elections

The EU Ambassador to Georgia, Pawel Herczynski, discussed it at the international conference in Tbilisi.

According to him, the EU decided to freeze 30 million euros, which are intended to support Georgia in the field of defence.

This is only the first step; there will be others. We will reduce our direct aid to the government of Georgia and try to shift this direct aid to civil society and the media. This was announced after a meeting of foreign ministers in Luxembourg.

Pawel Herczynski

Pawel Herczynski

Ambassador of the European Union

He also noted that it is still unclear whether the EU enlargement process will affect Georgia.

Enlargement is one of the most important challenges facing the EU and I sincerely hope that during the next 5 years of work of the newly elected leadership, there will be a big wave of further enlargement of the block. As for Georgia, it is still unclear whether it will be part of the next big wave of EU enlargement. I sincerely hope that it will be so, and after the October elections, we will resume our work and manage to achieve that Georgia becomes part of the further expansion of the EU, — said the ambassador.

Herczynski noted that Georgia's accession to the European Union is currently suspended.

This was stated very clearly by the leaders of the European Union after the summit of the European Council. I cannot imagine that this year Georgia will move forward, take steps, because the EU leaders decided to freeze the accession process. Now they are patiently waiting for greater clarity from the Georgian government, the diplomat explained.

What preceded the suspension of the process of Georgia's accession to the EU

Georgia applied to join the EU in March 2022, weeks after Moscow launched a full-scale invasion of Ukraine, and gained candidate status in December 2023.

The next step was to be the recommendation of the European Commission to the governments of the EU countries to start negotiations on Georgia's accession to the EU, but this depended on the implementation of a number of reforms.

Brussels made it clear: if the bill on "foreign agents" is passed, there will be no recommendations. And it was passed — on June 3, the speaker of the Georgian parliament signed the law, despite the veto of the country's president, Salome Zurabishvili.

This bill is an analogue of the Russian law on "foreign agents".

Category
Economics
Publication date

The IMF is sounding the alarm over Trump's new decision

The IMF assessed the potential consequences of Trump's decisions
Source:  Bloomberg

The head of the International Monetary Fund, Kristalina Georgieva, draws attention to the fact that tariffs imposed by the administration of US President Donald Trump could be a devastating blow to the global economy.

Points of attention

  • The immediate impact of Trump's decisions on global markets highlights the urgency of avoiding steps that could further harm the global economy.
  • IMF emphasizes the need for timely and coordinated actions by the international community to address the challenges posed by escalating trade tensions.

The IMF assessed the potential consequences of Trump's decisions

According to Kristalina Georgieva, she and her team are currently assessing the macroeconomic consequences of the announced tariff measures.

They are a significant risk to the global outlook during a period of sluggish growth, the IMF chief emphasized.

Georgieva calls on the international community not to ignore the fact that the US president's decision instantly caused global markets to collapse.

She also added that it is now extremely important to avoid steps that could further harm the global economy.

We call on the United States and its trading partners to work constructively to resolve trade tensions and reduce uncertainty.

Kristalina Georgieva

Kristalina Georgieva

IMF Head

As mentioned earlier, the team of American leader Donald Trump has imposed a 25% tariff on all foreign-made cars and parts imported into America.

Moreover, the White House announced a 20% tariff on goods from the European Union.

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