Spain Now in Charge of Europe!

This weekend, Spain took over the Presidency of the European Union, relieving Sweden of the duty, and will now focus on the key objectives in driving the member states for the next six months. Spain has identified four priorities for the work under its presidency of the Council, which are to reindustrialise the EU, advance in the green transition, promote social and economic justice, and strengthen European unity. In case you want to think a little further ahead than this week, next in line in the six-month cycle is Belgium, then Hungary, and Poland. Closer to home, Ireland takes over in July 2026.

Meanwhile, back to today, as we are not only starting a new week but also a new month, the data for June from the manufacturing PMI for Spain, Italy, France, Germany, the euro area as a whole, the United Kingdom, the US, Japan and China will be the main reference for a day in which Wall Street will open only half a session due to Independence Day celebrations.

At the business level, Endesa, Redeia and Inmobiliaria del Sur pay dividends today. We will also find out about tourism, as the INE publishes the occupancy survey in tourist accommodation and prices for May.

In the UK, on Tuesday, Rishi Sunak makes his third appearance before the Liaison Committee. Home Affairs Committee chair Diana Johnson is up first, with Ukraine and security matters top of the agenda, but expected to return to the subject of “small boats”, and the ruling that the Rwanda deportation policy is unlawful. The deadline to appeal that ruling is later this week, Thursday to be precise. The cost of living and inflation are also expected to be raised, especially as the UK Government is still blaming all of the things that affect other countries with much lower inflation, and isn´t able to address either the elephant in every room (Brexit), nor the fact that financial experts say it is company profiteering raising inflation in the UK, not wages, contrary to the Government’s mantra.

Whilst some of the country is in ashes, Emmanuel Macron pays a state visit to Germany on Monday and Tuesday, as the two countries continue to mend relations following disagreements last year, notably over energy and defence issues, that led to a delay in their annual joint cabinet meeting.

For sports fans, Wimbledon begins on Monday, and the third Ashes test on Thursday, as well as the UK athletics championship at the weekend.

You might also be interested to note that Friday marks a year since Boris Johnson resigned as Conservate party leader. This week is also alcohol awareness week. We are in no way suggesting those two facts are linked.

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