Eurotopics.net

In an address to the nation, German President Frank-Walter Steinmeier has described the 24th of February 2022 as an "epochal break". In his 45-minute address, the president also conceded that he had made personal mistakes with regard to Germany's policy towards Russia in recent years. Europe's commentators take different views of how effective the speech was.

Russia has suspended the agreement for exports of Ukrainian grain negotiated in July. Moscow cited alleged Ukrainian drone attacks on the Black Sea fleet as the reason for the decision. A number of cargo ships are said to be heading towards Istanbul via the protected corridor without any certainty that Russia will let them pass. What should the next move be?

After a fiercely fought election campaign, the left-wing ex-president Luiz Inácio "Lula" da Silva was elected Brazil's new president on Sunday with 50.9 percent of the vote, narrowly defeating the far-right incumbent Jair Bolsonaro. The commentaries reflect anxious speculation about how Bolsonaro will react and how the country's rifts can be overcome.

In a bid to curb soaring inflation in the Eurozone, the European Central Bank raised the key interest rate again on Thursday, bringing it up to two percent. The hike 0.75 percentage points makes loans more expensive and is meant to cut demand and thus put a brake on rising prices. Commentators debate whether the threat of recession is the lesser evil.