Charles Ellinas

Eurostat has just published its report on EU electricity price statistics for the first half of 2024. A subject close to the heart of long-suffering Cypriot electricity consumers. Unfortunately, it makes grim reading for Cyprus. There is no respite – as if Cypriots needed a report to tell them that.

Much has been said about Donald Trump's return to the American Presidency and his likely impact on world politics. The bewildering mixed-bag of views is a testament to the man's main trademark: unpredictability. Of everything I have read so far, perhaps the most incisive analysis was by Francis Fukuyama, the renowned political scientist from Stanford University.

COP29 has completed its first week with some successes, but also with a series of controversies.

The top priority is to agree on a sensible and ambitious New Collective Quantified Goal (NCQG) on climate finance.

We are entering week two at COP29 and progress is still painfully slow and often acrimonious. Too many issues are still open and require closure this coming week. Top priority is to agree a sensible and ambitious ‘New Collective Quantified Goal' (NCQG) on climate finance.

There is increasing realisation that efforts should not end up in outright failure, even if success is partial.

We have entered the second and final week of COP29, with the closing plenary session scheduled to take place on Friday 22 November. But given the status of negotiations so far, it is likely to be Saturday morning before we know whether we have a final deal.

The declaration stopped short of mentioning developing nations' voluntary contributions to climate finance, a main sticking point in COP29 talks.

In what is seen as a boost to COP29, the G20 backed a new climate finance goal. In their joint declaration on Tuesday, they said “We look forward to a successful New Collective Quantified Goal (NCQG) outcome in Baku,” adding -quite importantly- “We pledge our support to the COP29 Presidency…

With two days to go, developing countries drew a “super red line” on what they consider to be an acceptable climate finance goal.