Europe is facing a severe wildfire crisis. Spain has declared a state of emergency, and France has evacuated 1.1 people, forcing authorities to mobilize soldiers and firefighters.

The ECB is preparing to launch the EUREP program, allowing central banks outside the Eurozone to borrow up to €5 billion in euro-denominated liquidity, starting in Q4 2569.

The EU opposes Trump's new import tariffs, citing strong labor standards and employee welfare, and is preparing to seek clarification from the US government.

German 10-year bond yields surged to 3.21%, the highest since 2011, as investors increased their expectations that the ECB might raise interest rates two more times before the end of the year.

London house prices have fallen the most year-on-year since December 2023, extending the prolonged slump in the UK's housing market. The average house price in London in May fell 3.7% year-on-year, while house prices across the UK rose 2.7%.

Spain is preparing to nominate Pablo Hernández de Gos, former governor of the Bank of Spain and a senior executive at the BIS, to be the new president of the European Central Bank (ECB) after Christine Lagarde's term ends in October 2570.

The ECB revealed that eurozone banks tightened lending in Q2 due to geopolitical and energy market concerns, and expects further tightening in Q3.

France is pushing for legislation to ban children under 15 from using social media, with the president aiming for it to come into effect in September, along with pushing for new standards across the country.

A survey indicates that companies in the Eurozone are facing high interest rates and tight credit conditions following the Iran-Iran conflict, which has increased economic uncertainty. Markets are watching this week's ECB meeting closely.

Soaring oil prices fueled by conflicts in the Middle East are putting pressure on European airlines, especially those with weak financial positions.