European leaders are racing to push through plans to unlock Russia’s frozen assets before Ukraine runs out of money and before the United States and Russia decide to use the funds as part of negotiations on the war.


EU leaders meet in Brussels for decision on using frozen Russian assets for Ukraine's war efforts

France's leading farmers' union the FNSEA along with its close ally the Young Farmers (JA) on Thursday (Feb 1), called to end nationwide roadblocks over pay, tax and regulation.

FNSEA chief Arnaud Rousseau released a statement saying that the government was "listening" to their demands after Prime Minister Gabriel Attal announced cash support and other measures for farmers.

"We have decided to suspend the roadblocks and move to a new form of mobilisation," JA president Arnaud Gaillot said at the same news conference.

<h2>Farmers clog roads with over 1,000 tractors around Brussels &nbsp;</h2>

Earlier in the day, farmers protesting across Europe over better working conditions, higher pay and less red tape, blocked roads around an EU summit taking place in Brussels with around 1,300 tractors, said a Belgian police official.

"There are over 1,000 tractors or agricultural machinery" being kept away from the gathering of the European Union's 27 leaders, a police spokesman told news agency AFP. &nbsp;&nbsp;

He further added that the farmers were mainly from Belgium.

The farmers were stopped from entering the European Council building where the EU leaders were holding a discussion over aid to Ukraine.

However, they converged in front of the nearby European Parliament.

Farmers, according to AFP said that their aim was to take the demonstration to Brussels as the European elections were approaching in four months' time.

Also read:&nbsp;<a href="https://www.wionews.com/world/explained-why-are-farmers-protesting-in-france-685265">Explained | Why are farmers protesting in France?</a>

"We have the European elections and the Belgian elections then as well. So everybody is afraid they will be wiped off the map and we put other people in power," said one Belgian farmer, Dominique Houfflain, 51.

"We are taking advantage of the fact that there will be these two elections the same year to act," he added.

<h2>Orban meets with protesting farmers in Brussels</h2>

Ahead of the summit, Hungarian Prime Minister Viktor Orban met with the protesting farmers in Brussels in a move to showcase his support for what he dubbed the "voice of the people".

"The voice of the people of the streets are not taken seriously by the leaders. It's a democratic deficit," said the nationalist leader in a video posted on his Facebook page.

"There's a European election in June. We need a new European Parliament. We have to find new leaders who really represent the people," he added.

(With inputs from agencies)

France's leading farmers' union the FNSEA along with its close ally the Young Farmers (JA) on Thursday (Feb 1), called to end nationwide roadblocks over pay, tax and regulation.

France's leading farmers' union the FNSEA along with its close ally the Young Farmers (JA) on Thursday (Feb 1), called to end nationwide roadblocks over pay, tax and regulation. FNSEA chief Arnaud Rousseau released a statement saying that the government was "listening" to their demands after Prime Minister Gabriel Attal announced cash support and other measures for farmers. "We have decided to suspend the roadblocks and move to a new form of mobilisation," JA president Arnaud Gaillot said at the same news conference. Farmers clog roads with over 1,000 tractors around Brussels Earlier in the day, farmers protesting across Europe over better working conditions, higher pay and less red tape, blocked roads around an EU summit taking place in Brussels with around 1,300 tractors, said a Belgian police official. "There are over 1,000 tractors or agricultural machinery" being kept away from the gathering of the European Union's 27 leaders, a police spokesman told news agency AFP. He further added that the farmers were mainly from Belgium. The farmers were stopped from entering the European Council building where the EU leaders were holding a discussion over aid to Ukraine. However, they converged in front of the nearby European Parliament. Farmers, according to AFP said that their aim was to take the demonstration to Brussels as the European elections were approaching in four months' time. Also read: Explained | Why are farmers protesting in France? "We have the European elections and the Belgian elections then as well. So everybody is afraid they will be wiped off the map and we put other people in power," said one Belgian farmer, Dominique Houfflain, 51. "We are taking advantage of the fact that there will be these two elections the same year to act," he added. Orban meets with protesting farmers in Brussels Ahead of the summit, Hungarian Prime Minister Viktor Orban met with the protesting farmers in Brussels in a move to showcase his support for what he dubbed the "voice of the people". "The voice of the people of the streets are not taken seriously by the leaders. It's a democratic deficit," said the nationalist leader in a video posted on his Facebook page. "There's a European election in June. We need a new European Parliament. We have to find new leaders who really represent the people," he added. (With inputs from agencies)

France's top farmers' unions call for end to road blockades

A man suspected of fatally shooting two Swedish football fans in an attack in Brussels was shot dead&nbsp;by Belgian police on Tuesday (Oct 17).&nbsp;Interior Minister Annelies Verlinden said the&nbsp;weapon that was allegedly used by the man has also been recovered, reported the Associated Press.

Officials said the&nbsp;police opened fire at the attacker and shot him dead during the arrest. This was the&nbsp;result of an&nbsp;intensive overnight manhunt in the Belgian capital.&nbsp;

Early videos doing the rounds on social media of Monday’s attack showed a man in an orange fluorescent vest pulling up on a scooter, pulling out a&nbsp;large weapon and opening fire on passersby before chasing them into a building to shoot them all down. Apparently, he vowed allegiance to the Islamic State and was avenging the killing of a six-year-old boy in the US killed by his landlord because of his religion&nbsp;in the wake of the Hamas-Israel war.&nbsp;

Previously, Prime Minister Alexander de Croo said the suspect was of Tunisian origin and had been living in Brussels&nbsp;illegally.&nbsp;

"The terrorist attack that happened yesterday was committed with total cowardice, the attacker chose as a target two Swedish football fans," de Croo told a news conference.&nbsp;

Sweden expressed its condemnation over the shooting&nbsp;which took place just before a Belgium-Sweden football match on Monday evening (Oct 16), with hundreds of Swedish fans in attendance.&nbsp;

Sweden has been the focal point of a bitter controversy&nbsp;this year with Muslim countries after police authorised several protests at which copies of the Koran, Islam's holy book, were burned.

Also watch |&nbsp;Brussels shooting: Belgium-Sweden match abandoned after two Swedes shot dead

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/brussels-shooting-belgium-sweden-match-abandoned-after-two-swedes-shot-dead-647909/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

"Devastated by the news of two Swedish football supporters murdered in&nbsp;Brussels&nbsp;tonight and a third person being seriously wounded. All my thoughts are with their families and loved ones," Swedish Foreign Minister Tobias Billstrom said.

"Swedish authorities work closely with their Belgian partners to find the murderer," he added, in a social media post.

<h2>Football match abruptly called off</h2>

As news spread of the killings, the Group F European qualifier match between Belgium and Sweden was called off&nbsp;at half-time and some 35,000 fans were quickly evacuated from the King Baudouin stadium.&nbsp;

<a href="https://www.wionews.com/world/video-hamas-releases-chilling-footage-of-hurt-and-scared-hostage-647745">Also read |&nbsp;Video: Hamas releases chilling footage of 'hurt and scared' hostage</a>

Officers ensured extra protection for Swedish nationals at the game, escorting Sweden's national players directly to the airport,&nbsp;&nbsp;Belgium's football association CEO told the RTBF channel.

(With inputs from agencies)

WATCH WION LIVE HERE:

<iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe>

A man suspected of fatally shooting two Swedish football fans in an attack in Brussels was shot dead by Belgian police on Tuesday (Oct 17). Interior Minister Annelies Verlinden said the weapon that was allegedly used by the man has also been recovered, reported the Associated Press.

A man suspected of fatally shooting two Swedish football fans in an attack in Brussels was shot dead by Belgian police on Tuesday (Oct 17). Interior Minister Annelies Verlinden said the weapon that was allegedly used by the man has also been recovered, reported the Associated Press. Officials said the police opened fire at the attacker and shot him dead during the arrest. This was the result of an intensive overnight manhunt in the Belgian capital. Early videos doing the rounds on social media of Monday’s attack showed a man in an orange fluorescent vest pulling up on a scooter, pulling out a large weapon and opening fire on passersby before chasing them into a building to shoot them all down. Apparently, he vowed allegiance to the Islamic State and was avenging the killing of a six-year-old boy in the US killed by his landlord because of his religion in the wake of the Hamas-Israel war. Previously, Prime Minister Alexander de Croo said the suspect was of Tunisian origin and had been living in Brussels illegally. "The terrorist attack that happened yesterday was committed with total cowardice, the attacker chose as a target two Swedish football fans," de Croo told a news conference. Sweden expressed its condemnation over the shooting which took place just before a Belgium-Sweden football match on Monday evening (Oct 16), with hundreds of Swedish fans in attendance. Sweden has been the focal point of a bitter controversy this year with Muslim countries after police authorised several protests at which copies of the Koran, Islam's holy book, were burned. Also watch | Brussels shooting: Belgium-Sweden match abandoned after two Swedes shot dead "Devastated by the news of two Swedish football supporters murdered in Brussels tonight and a third person being seriously wounded. All my thoughts are with their families and loved ones," Swedish Foreign Minister Tobias Billstrom said. "Swedish authorities work closely with their Belgian partners to find the murderer," he added, in a social media post. Football match abruptly called off As news spread of the killings, the Group F European qualifier match between Belgium and Sweden was called off at half-time and some 35,000 fans were quickly evacuated from the King Baudouin stadium. Also read | Video: Hamas releases chilling footage of 'hurt and scared' hostage Officers ensured extra protection for Swedish nationals at the game, escorting Sweden's national players directly to the airport, Belgium's football association CEO told the RTBF channel. (With inputs from agencies) WATCH WION LIVE HERE:

Brussels shooting: Suspected attacker shot dead by police after chase

U.S. President Joe Biden is expected to travel to Brussels next week to meet with NATO leaders to discuss Russia's war in Ukraine. Biden will meet with European leaders at an extraordinary NATO summit in Brussels on March 24. He will also attend a scheduled European Council summit, where efforts to impose sanctions and further humanitarian efforts are underway.

Biden to meet with NATO leaders in Brussels next week over Ukraine crisis

The&nbsp;European Union clinched a&nbsp;deal&nbsp;in the early hours of Wednesday on a landmark&nbsp;law&nbsp;to make its&nbsp;climate-change&nbsp;goals legally binding, including a target to slash its net greenhouse gas&nbsp;emissions&nbsp;by at least 55 per cent this decade.

The&nbsp;deal&nbsp;arrives just in time for a summit of world leaders hosted by the US&nbsp;government on Thursday and Friday, where the&nbsp;EU&nbsp;and other global powers will promote their pledges to protect the planet.

The&nbsp;European&nbsp;climate&nbsp;law&nbsp;sets the framework that will guide&nbsp;EU&nbsp;climate-related regulations in the coming decades, steering it towards reaching zero net&nbsp;emissions&nbsp;by 2050 - a pathway which, if adopted globally, would limit global temperature increases to 1.5 degrees above pre-industrial levels and avoid the worst impacts of&nbsp;climate&nbsp;change.

More than a year after the&nbsp;European Commission proposed the bill, negotiators representing the&nbsp;European Parliament and the 27&nbsp;EU&nbsp;governments finally finished its contents on Wednesday, after all-night talks.

The target to cut&nbsp;EU-wide net&nbsp;emissions&nbsp;by at least 55 per cent by&nbsp;2030, from 1990 levels, replaces a previous&nbsp;goal&nbsp;for a 40 per cent&nbsp;cut. By 2019,&nbsp;EU&nbsp;emissions&nbsp;were already 24 per cent&nbsp;lower than in 1990.

EU&nbsp;lawmakers had wanted to go further to 60 per cent&nbsp;by&nbsp;2030. Environmental campaigners had said the cut should be 65 per cent.

Negotiators agreed to limit the amount of&nbsp;emissions&nbsp;removals that can be counted towards the&nbsp;2030&nbsp;target, to 225 million tonnes of CO2 equivalent.

That aims to ensure the&nbsp;goal&nbsp;is met by cutting&nbsp;emissions&nbsp;from polluting sectors, rather than relying on removing CO2 from the atmosphere through carbon-absorbing forests and wetlands.

"This is a landmark moment for the&nbsp;EU. We have reached an ambitious agreement to write our&nbsp;climate&nbsp;neutrality target into binding legislation, as a guide to our policies for the next 30 years," Commission vice-president Frans Timmermans said in a statement.

The European Union clinched a deal in the early hours of Wednesday on a landmark law to make its climate-change goals legally binding, including a target to slash its net greenhouse gas emissions by at least 55 per cent this decade.

The European Union clinched a deal in the early hours of Wednesday on a landmark law to make its climate-change goals legally binding, including a target to slash its net greenhouse gas emissions by at least 55 per cent this decade. The deal arrives just in time for a summit of world leaders hosted by the US government on Thursday and Friday, where the EU and other global powers will promote their pledges to protect the planet. The European climate law sets the framework that will guide EU climate-related regulations in the coming decades, steering it towards reaching zero net emissions by 2050 - a pathway which, if adopted globally, would limit global temperature increases to 1.5 degrees above pre-industrial levels and avoid the worst impacts of climate change. More than a year after the European Commission proposed the bill, negotiators representing the European Parliament and the 27 EU governments finally finished its contents on Wednesday, after all-night talks. The target to cut EU-wide net emissions by at least 55 per cent by 2030, from 1990 levels, replaces a previous goal for a 40 per cent cut. By 2019, EU emissions were already 24 per cent lower than in 1990. EU lawmakers had wanted to go further to 60 per cent by 2030. Environmental campaigners had said the cut should be 65 per cent. Negotiators agreed to limit the amount of emissions removals that can be counted towards the 2030 target, to 225 million tonnes of CO2 equivalent. That aims to ensure the goal is met by cutting emissions from polluting sectors, rather than relying on removing CO2 from the atmosphere through carbon-absorbing forests and wetlands. "This is a landmark moment for the EU. We have reached an ambitious agreement to write our climate neutrality target into binding legislation, as a guide to our policies for the next 30 years," Commission vice-president Frans Timmermans said in a statement.

EU clinches deal on climate law, tougher 2030 emissions goal

From the pinnacle of the City of London's largest skyscraper, Stuart Lipton is wagering a $1.2 billion bet that the British capital remains a master of the international financial universe no matter what happens with <a href="https://www.wionews.com/world/brexit-on-october-31-a-priority-for-british-government-queen-255851">Brexit</a>.

The 76-year-old property developer is not alone. Bankrolled by a host of global investors, including France's Axa, his big-ticket gamble in London's financial district is - so far - on the money.

The cataclysmic warnings during the 2016 referendum that London would lose its financial throne if it voted to leave the European Union (EU) have, so far, been proven wrong. London is still the world's banker, only bigger by some measures.

"London is extraordinarily resilient and its future as a finance centre is secure because what we have here is unique," Lipton told Reuters on the 61st floor of 22 Bishopsgate, set to become western Europe's second tallest skyscraper when it opens next year.

In the year to June, London has attracted more cross border commercial real estate investment than any other city. It has overtaken New York as a destination for fintech investment and it has increased its dominance of the world's $6.6 trillion daily foreign exchange market.

Since the vote to leave the EU, Britain has leapfrogged the United States to become the largest centre for trading interest rate swaps, despite calls by ex-French President Francois Hollande to end London's dominance in clearing euro-denominated derivatives.

That London has expanded its influence as an international finance centre is one of the biggest riddles of the United Kingdom's tortuous three-year <a href="https://www.wionews.com/business-economy/uk-economy-starts-to-shows-cracks-under-brexit-and-global-strains-254409">Brexit crisis.</a>

The city's standing ensures the United Kingdom keeps one of its last big chips at the top table of world politics just as it splits from the EU.

It also means EU companies will still come to London to raise finance outside the bloc after Brexit, a fact not lost on Wall Street heavyweights such as Goldman Sachs and JP Morgan.

Just a mile away from 22 Bishopsgate, Goldman opened its new 1 million square foot European headquarters - complete with mothers' rooms and wildflowers on the roof - in July, three years on from the 2016 referendum.

Largely abandoned by the British government during Brexit talks, ten senior industry officials told Reuters London's financial services sector has grown since 2016 because there is no realistic competitor in its time zone.

And high-rolling bankers are too attached to its Anglo-Saxon, work-hard, play-hard culture.

The chief executive of the British division of one of Europe's largest banks said although some business will move to the EU, most senior bankers will be reluctant to leave London. He would consider taking a 20 per cent&nbsp;pay cut to remain in the city.

"If you are an Italian banker, who moved out to London 20 years ago, and your kids go to private school around the corner then you are not going to move to Frankfurt," he said.

A global hub for trading, lending and investing, London is the largest net exporter of financial services in the world, with the EU accounting for a quarter of the business.

The 2016 referendum shocked many of the masters of London's financial universe, triggering the biggest one-day fall of the pound since the era of free-floating exchange rates was introduced in the early 1970s.

But so far, most major financial institutions have opted against moving large numbers of people and activities until the loss of access to the EU's lucrative single market is confirmed.

Banks, insurers and asset managers have shifted over a trillion euros of assets such as derivatives and bonds from London to the continent and opened new EU hubs as a hedge against London suddenly being cut off from the bloc if Britain exits the EU without a formal agreement.

The Bank of England estimates around 4,000 people may have moved by the time Britain has exited the EU. But the key decisions are still taken in London.

Reuters contacted JP Morgan and Goldman, and rivals Citi, Bank of America, UBS, Morgan Stanley, Credit Suisse&nbsp;and Deutsche Bank, to seek details on how a 'no-deal Brexit' might accelerate the transfer of resources and activities from London.

All banks said they were prepared for a no-deal Brexit, and had been since the first quarter.

Earlier this year, Morgan Stanley's chief executive, James Gorman, said that he scarcely worried about Brexit. "That's not in my top 200 issues," he said.

British data shows the total number of people employed in the City between 2016 and 2018 overall rose by 31,000, though the total number of people employed specifically in banking and insurance is down 3,000 over the period.

It is not clear how much of that drop is due to Brexit and how much is due to new regulations or structural changes, such as higher numbers of tech specialists at lenders while traditional banking jobs shrink.

Initial estimates of potential job losses ranged from about 30,000 roles within a year of Britain leaving the EU, estimated by the Brussels-based Bruegel research group, to up to 75,000 by 2025 by Oliver Wyman.

Oliver Wyman said they stand by their predictions because it is important to distinguish between job losses on the first day of Brexit and over the longer term. The final number will depend upon the level of market access, which is not clear yet.

Bruegel did not respond to a request for comment.

Financial capitals such as London have remarkable longevity and their rise and fall typically happens at a glacial pace, said Youssef Cassis, a professor of economic history who specialises in financial centres.

"There is no precedent for decoupling between a major economic power- in this case, the European Union- and its financial centre, London," he said.

Some key activities have moved out of London ahead of Brexit. Eurozone government bond and repurchase agreements trading worth around 230 billion euros a day, along with clearing, switched to Amsterdam, Milan and Paris earlier this year.

London-based CBOE Europe, the EU's largest share trading venue, began trading euro shares at its new Amsterdam hub at the start of October.

Nicolas Mackel, who heads a body promoting Luxembourg's financial centre, said it would be a shift in activities and not jobs that will affect London most.

"It's not between now and Christmas you have to look, but on a five, 10, 15 and 20-year framework. It's a false comfort that you are providing by only focusing on jobs," Mackel said.

After Brexit, the $15.9 trillion EU 27 economy will still be reliant on a financial capital outside its borders, which could be politically hard for Brussels to stomach indefinitely.

One European Commission official, speaking on condition of anonymity, told Reuters that the EU had no intention of smothering Britain's financial sector to accelerate its own plans for an EU capital markets union.

But there is scepticism in the market about the longevity of such pledges.

"Why should one expect the EU to give an economic answer to what is a political challenge?" said Xavier Rolet, former head of London Stock Exchange and CEO of investment manager CQS.

"I would expect them to respond politically, even if those answers are not necessarily in the best economic interests of EU-based investors, corporates and banks."

Rolet, who said in the aftermath of the referendum that half of all finance jobs in London may disappear if derivatives clearing left the capital, said it was too early to assess the implications of Brexit.

"I do stand by my statement," he said of the potential job losses.

From the pinnacle of the City of London's largest skyscraper, Stuart Lipton is wagering a $1.2 billion bet that the British capital remains a master of the international financial universe no matter what happens with Brexit.

From the pinnacle of the City of London's largest skyscraper, Stuart Lipton is wagering a $1.2 billion bet that the British capital remains a master of the international financial universe no matter what happens with Brexit. The 76-year-old property developer is not alone. Bankrolled by a host of global investors, including France's Axa, his big-ticket gamble in London's financial district is - so far - on the money. The cataclysmic warnings during the 2016 referendum that London would lose its financial throne if it voted to leave the European Union (EU) have, so far, been proven wrong. London is still the world's banker, only bigger by some measures. "London is extraordinarily resilient and its future as a finance centre is secure because what we have here is unique," Lipton told Reuters on the 61st floor of 22 Bishopsgate, set to become western Europe's second tallest skyscraper when it opens next year. In the year to June, London has attracted more cross border commercial real estate investment than any other city. It has overtaken New York as a destination for fintech investment and it has increased its dominance of the world's $6.6 trillion daily foreign exchange market. Since the vote to leave the EU, Britain has leapfrogged the United States to become the largest centre for trading interest rate swaps, despite calls by ex-French President Francois Hollande to end London's dominance in clearing euro-denominated derivatives. That London has expanded its influence as an international finance centre is one of the biggest riddles of the United Kingdom's tortuous three-year Brexit crisis. The city's standing ensures the United Kingdom keeps one of its last big chips at the top table of world politics just as it splits from the EU. It also means EU companies will still come to London to raise finance outside the bloc after Brexit, a fact not lost on Wall Street heavyweights such as Goldman Sachs and JP Morgan. Just a mile away from 22 Bishopsgate, Goldman opened its new 1 million square foot European headquarters - complete with mothers' rooms and wildflowers on the roof - in July, three years on from the 2016 referendum. Largely abandoned by the British government during Brexit talks, ten senior industry officials told Reuters London's financial services sector has grown since 2016 because there is no realistic competitor in its time zone. And high-rolling bankers are too attached to its Anglo-Saxon, work-hard, play-hard culture. The chief executive of the British division of one of Europe's largest banks said although some business will move to the EU, most senior bankers will be reluctant to leave London. He would consider taking a 20 per cent pay cut to remain in the city. "If you are an Italian banker, who moved out to London 20 years ago, and your kids go to private school around the corner then you are not going to move to Frankfurt," he said. A global hub for trading, lending and investing, London is the largest net exporter of financial services in the world, with the EU accounting for a quarter of the business. The 2016 referendum shocked many of the masters of London's financial universe, triggering the biggest one-day fall of the pound since the era of free-floating exchange rates was introduced in the early 1970s. But so far, most major financial institutions have opted against moving large numbers of people and activities until the loss of access to the EU's lucrative single market is confirmed. Banks, insurers and asset managers have shifted over a trillion euros of assets such as derivatives and bonds from London to the continent and opened new EU hubs as a hedge against London suddenly being cut off from the bloc if Britain exits the EU without a formal agreement. The Bank of England estimates around 4,000 people may have moved by the time Britain has exited the EU. But the key decisions are still taken in London. Reuters contacted JP Morgan and Goldman, and rivals Citi, Bank of America, UBS, Morgan Stanley, Credit Suisse and Deutsche Bank, to seek details on how a 'no-deal Brexit' might accelerate the transfer of resources and activities from London. All banks said they were prepared for a no-deal Brexit, and had been since the first quarter. Earlier this year, Morgan Stanley's chief executive, James Gorman, said that he scarcely worried about Brexit. "That's not in my top 200 issues," he said. British data shows the total number of people employed in the City between 2016 and 2018 overall rose by 31,000, though the total number of people employed specifically in banking and insurance is down 3,000 over the period. It is not clear how much of that drop is due to Brexit and how much is due to new regulations or structural changes, such as higher numbers of tech specialists at lenders while traditional banking jobs shrink. Initial estimates of potential job losses ranged from about 30,000 roles within a year of Britain leaving the EU, estimated by the Brussels-based Bruegel research group, to up to 75,000 by 2025 by Oliver Wyman. Oliver Wyman said they stand by their predictions because it is important to distinguish between job losses on the first day of Brexit and over the longer term. The final number will depend upon the level of market access, which is not clear yet. Bruegel did not respond to a request for comment. Financial capitals such as London have remarkable longevity and their rise and fall typically happens at a glacial pace, said Youssef Cassis, a professor of economic history who specialises in financial centres. "There is no precedent for decoupling between a major economic power- in this case, the European Union- and its financial centre, London," he said. Some key activities have moved out of London ahead of Brexit. Eurozone government bond and repurchase agreements trading worth around 230 billion euros a day, along with clearing, switched to Amsterdam, Milan and Paris earlier this year. London-based CBOE Europe, the EU's largest share trading venue, began trading euro shares at its new Amsterdam hub at the start of October. Nicolas Mackel, who heads a body promoting Luxembourg's financial centre, said it would be a shift in activities and not jobs that will affect London most. "It's not between now and Christmas you have to look, but on a five, 10, 15 and 20-year framework. It's a false comfort that you are providing by only focusing on jobs," Mackel said. After Brexit, the $15.9 trillion EU 27 economy will still be reliant on a financial capital outside its borders, which could be politically hard for Brussels to stomach indefinitely. One European Commission official, speaking on condition of anonymity, told Reuters that the EU had no intention of smothering Britain's financial sector to accelerate its own plans for an EU capital markets union. But there is scepticism in the market about the longevity of such pledges. "Why should one expect the EU to give an economic answer to what is a political challenge?" said Xavier Rolet, former head of London Stock Exchange and CEO of investment manager CQS. "I would expect them to respond politically, even if those answers are not necessarily in the best economic interests of EU-based investors, corporates and banks." Rolet, who said in the aftermath of the referendum that half of all finance jobs in London may disappear if derivatives clearing left the capital, said it was too early to assess the implications of Brexit. "I do stand by my statement," he said of the potential job losses.

London retains global finance throne amid Brexit chaos

Belgian liberal <a href="https://www.wionews.com/world/under-one-flag-two-belgiums-seek-one-government-after-vote-222028">Charles Michel</a>, who was elected by EU leaders on Tuesday as the next chair of EU summits, does not believe in hanging around.

He will replace Poland's Donald Tusk in the role of European Council president for the next five years.

Michel became his country's youngest prime minister in 2014 when he took office aged 38 as only Belgium's second premier from the French-speaking liberals.

He was also the first Belgian leader to become a father while in office, his partner's first pregnancy effectively divulged by Barack Obama during a visit to the White House in 2015. He has an older son from a previous relationship.

A lawyer by training, studying in Brussels and Amsterdam, he entered politics as a provincial counsellor aged 18 and then entered the national parliament at 23.

Michel is currently heading a caretaker administration in Belgium after an inconclusive election in May, with talks on forming a new government continuing.

He is the oldest son of Louis Michel, EU commissioner for development and humanitarian aid from 2004-2009.

Aides say Michel enjoys reading and cooking on a barbecue but his chief passion outside the office is biking, initially doing moto-cross with a friend and is now still hooked on bike road trips, saying a more direct connection with nature gives them a "sensual dimension".

Belgian liberal Charles Michel, who was elected by EU leaders on Tuesday as the next chair of EU summits, does not believe in hanging around. He will replace Poland's Donald Tusk in the role of European Council president for the next five years.

Belgian liberal Charles Michel, who was elected by EU leaders on Tuesday as the next chair of EU summits, does not believe in hanging around. He will replace Poland's Donald Tusk in the role of European Council president for the next five years. Michel became his country's youngest prime minister in 2014 when he took office aged 38 as only Belgium's second premier from the French-speaking liberals. He was also the first Belgian leader to become a father while in office, his partner's first pregnancy effectively divulged by Barack Obama during a visit to the White House in 2015. He has an older son from a previous relationship. A lawyer by training, studying in Brussels and Amsterdam, he entered politics as a provincial counsellor aged 18 and then entered the national parliament at 23. Michel is currently heading a caretaker administration in Belgium after an inconclusive election in May, with talks on forming a new government continuing. He is the oldest son of Louis Michel, EU commissioner for development and humanitarian aid from 2004-2009. Aides say Michel enjoys reading and cooking on a barbecue but his chief passion outside the office is biking, initially doing moto-cross with a friend and is now still hooked on bike road trips, saying a more direct connection with nature gives them a "sensual dimension".

Belgium's Prime Minister Charles Michel named European Union Council chief

Yellow and polka-dot jerseys, bicycle wheel sculptures, giant posters of Eddy Merckx, Brussels residents could not hide their excitement about the world famous cycling race of the Tour de France kicking off from the Belgian capital on Saturday (July 6).

Beer, fries and Eddy Merckx, Brussels prepares for Tour de France Grand Depart

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