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Rubio and Witkoff vie for control of Ukraine strategy
James Davis reports that Trump’s shrinking Ukraine peace plan has ignited a power struggle within his own administration, with Rubio and Witkoff pursuing rival diplomatic tracks as Europe works to sabotage talks and Russia doubts Washington can deliver. With battlefield losses mounting, the fate of the process rests squarely with Trump.
Merz’s pension patch leaves Germany one rebellion away from crisis
Diego Faßnacht writes that Merz’s late-night pension compromise papers over, but does not resolve, a revolt by younger CDU/CSU MPs furious over locking in expensive pension promises. A side letter on future reform hasn’t restored trust, and Berlin is edging toward higher taxes on labor and capital as coalition discipline frays.
Yen finds its floor even as Takaichi’s spending surge tests market nerves
Scott Foster notes that expectations of a BOJ rate hike have steadied the yen and calmed bond markets, even as Takaichi pushes the most expansionary budget in years. Investors now face a Japan mixing fiscal largesse with strategic industrial bets, while currency markets brace for what comes next.
