DistilledNews Expert edition — sample briefing

The Eurogroup has officially appointed Mário Centeno as the new vice-president of the European Central Bank (ECB), succeeding Luis de Guindos, whose term ends in May 2025. The vote, held on January 19, 2026, concluded with Centeno receiving the required support from at least 16 of the 21 eurozone countries, representing over 65% of the population.

Significance of the appointment
Centeno, a former finance minister and governor of the Bank of Portugal, was seen as a strong candidate due to his extensive experience and favorable relations with ECB President Christine Lagarde. His appointment is expected to influence Eurozone monetary policy significantly, particularly as the region navigates economic challenges.

Candidates in the running
The selection process featured six candidates: Centeno, Mārtiņš Kazāks (Latvia), Madis Müller (Estonia), Olli Rehn (Finland), Rimantas Sadzius (Lithuania), and Boris Vujcic (Croatia). The European Parliament's Committee on Economic and Monetary Affairs had previously indicated a preference for Centeno and Kazāks, which added momentum to their candidacies.

Diplomatic dynamics
The Eurogroup meeting was notable for the participation of Bulgaria's finance minister, marking the country's full entry into the eurozone. Greek finance minister Kyriakos Pierrakakis, who presided over the meeting, emphasized the need for consensus and swift action in selecting a candidate. He stated, "We have received six excellent candidates. This is an unprecedented level of interest, but I believe we have the institutional maturity to take concrete steps starting today in order to converge on a single candidate."

Next steps
Following the Eurogroup's decision, the Council of the European Union will adopt a recommendation to the European Council, which will finalize the appointment after consultations with the ECB and the European Parliament. This multi-step process underscores the importance of diplomatic negotiations in securing the necessary support for candidates.

Implications for the ECB
Centeno's appointment is seen as a strategic move to balance the ECB's leadership, especially as the presidency is expected to remain with a more hawkish figure like Lagarde. His more moderate approach to monetary policy may provide a counterbalance to the prevailing austerity measures favored by some member states. The decision also reflects ongoing discussions about regional representation within European institutions, particularly for the Baltic states, which have been advocating for greater visibility in ECB leadership roles.

As the Eurozone continues to face economic uncertainties, Centeno's leadership will be closely watched for its impact on monetary policy and the broader economic landscape in Europe. 📌 Distillation and sources

The EU-Mercosur trade agreement, signed on 17 January 2026, faces potential suspension as the European Parliament prepares to vote on a resolution for a legal assessment. Divisions among member states, particularly France and Ireland, complicate ratification efforts. The deal aims to eliminate tariffs on over 91% of EU exports, but agricultural groups express concerns about its impact on local farmers and market competition. The outcome of the parliamentary vote will be crucial for the future of this significant trade agreement. 📌 Full content and sources

Spanish fishing fleets are protesting new EU Fishing Control Regulations effective from 10 January 2026, which require four-hour port arrival notices and on-board catch recording. Nearly 500 boats in Valencia halted operations, while the Asturian fleet also declared a strike, citing safety concerns and impractical requirements. Fishermen argue that the regulations do not consider the realities of small-scale fishing and pose risks to crew safety. 📌 Full content and sources

Eurostat has revised the Eurozone's December inflation rate down to 1.9% year-on-year, the first time it has fallen below the ECB's 2% target since May. Core inflation remains steady at 2.3%, while fresh food prices have increased by 4.2%. Analysts suggest these trends could impact the ECB's monetary policy and broader economic growth projections. 📌 Full content and sources

In response to U.S. President Donald Trump's recent threats to impose tariffs on several European countries over their support for Denmark regarding Greenland, the European Union is mobilizing for a coordinated response. European Council President António Costa announced an extraordinary summit of EU leaders scheduled for January 22, 2026, to discuss the situation and potential countermeasures.

What’s at stake? Trump's proposed tariffs, which would start at 10% on February 1 and escalate to 25% by June, target Denmark, Finland, France, Germany, the Netherlands, Norway, Sweden, and the United Kingdom. These nations recently participated in military exercises in Greenland, which Trump has controversially suggested the U.S. should acquire. The tariffs are seen as a form of economic coercion, prompting a strong reaction from European leaders.

EU's potential responses The EU is considering a package of retaliatory tariffs amounting to €93 billion, which could automatically take effect if no agreement is reached by February 6. This package includes tariffs on various U.S. goods, such as bourbon, aircraft parts, and agricultural products. Additionally, there are discussions about activating the Anti-Coercion Instrument (ACI), a powerful trade tool designed to counter economic pressure from third countries. This instrument has never been used but could allow the EU to impose significant restrictions on U.S. imports and limit American companies' access to the European market.

Unity among member states European leaders have expressed a unified stance against Trump's threats, emphasizing their commitment to uphold the sovereignty of Denmark and Greenland. Costa stated that the EU is prepared to defend itself against any form of coercion while maintaining constructive relations with the U.S. French President Emmanuel Macron has been particularly vocal, advocating for the activation of the ACI as a necessary response to Trump's actions.

Diplomatic efforts ongoing In the lead-up to the summit, EU ambassadors met to discuss the situation, underscoring the importance of dialogue with the U.S. to avoid escalating tensions further. NATO Secretary-General Mark Rutte is expected to play a mediating role during the upcoming World Economic Forum in Davos, where Trump will also be present. The EU aims to clarify misunderstandings regarding the military presence in Greenland and seek a diplomatic resolution.

Market reactions The announcement of potential tariffs has already impacted European markets, with significant declines in stock prices for companies heavily reliant on exports to the U.S. Analysts warn that a trade war could have detrimental effects on both sides of the Atlantic, emphasizing the interconnected nature of global supply chains.

As the situation develops, the EU's response will be closely watched, with leaders aiming to balance firmness against U.S. pressure while seeking to preserve transatlantic relations. 📌 Distillation and sources

The Syrian government, led by interim President Ahmed al-Sharaa, has announced a ceasefire agreement with the Kurdish-led Syrian Democratic Forces (SDF), marking a pivotal shift in control over northeastern Syria. The agreement, reached on January 18, 2026, follows days of intense fighting and government advances into Kurdish-held territories, particularly in the provinces of Deir Ezzor and Raqqa.

Key elements of the agreement
The ceasefire stipulates an immediate halt to hostilities and requires SDF forces to withdraw to the east of the Euphrates River. The deal includes the transfer of military and administrative control of Deir Ezzor and Raqqa to the Syrian government, alongside the integration of SDF units into the Ministries of Defence and Interior. This integration is seen as a significant step towards consolidating state authority over regions that had been under Kurdish control for over a decade.

U.S. involvement
U.S. special envoy for Syria, Tom Barrack, played a crucial role in mediating the agreement, which he described as a "decisive turning point" for cooperation between former adversaries. The U.S. has historically supported the SDF in its fight against ISIS, but this agreement signals a shift towards aligning with the Syrian government under al-Sharaa.

Implications for ISIS detainees
The agreement raises urgent questions regarding the fate of thousands of ISIS detainees held in SDF-controlled prisons. The Syrian government is set to assume responsibility for these facilities, which have been a point of contention due to concerns about security and the potential for a resurgence of ISIS. The SDF has warned that the transfer of control could lead to instability and chaos, particularly given the ongoing clashes in areas housing these detainees.

Regional reactions
The agreement has been met with mixed reactions. Turkey, which views the SDF as an extension of the PKK, welcomed the ceasefire, hoping it would stabilize the region. However, Kurdish leaders have expressed deep mistrust towards the Syrian government, fearing that the integration process may undermine their rights and autonomy.

Next steps
Al-Sharaa is scheduled to meet with SDF leader Mazloum Abdi to discuss the implementation of the agreement. While the ceasefire has been established, the timeline for the full integration of SDF forces and the transfer of control over key resources remains unclear. Observers are closely monitoring the situation, particularly regarding the security of ISIS detainees and the potential for renewed violence in the region. 📌 Distillation and sources

The EU has signed a historic trade agreement with Mercosur, eliminating tariffs on over 90% of bilateral trade. The deal, which has been in negotiation since 1999, is expected to boost EU exports to Mercosur by 39% and Mercosur exports to the EU by 17%. However, it faces significant opposition from European farmers concerned about competition from South American products. Approval from the European Parliament and Mercosur countries' parliaments is still required for the agreement to take effect. 📌 Full content and sources

Russia launched a coordinated attack on Ukraine's energy infrastructure on January 19, deploying approximately 145 drones, of which 126 were intercepted. The strikes caused widespread power outages in five regions, including Sumy and Odesa, amid freezing temperatures. Emergency repair work is ongoing, but challenges remain significant. Ukrainian officials are implementing plans to enhance electricity transmission to meet demand as the winter campaign intensifies. 📌 Full content and sources

A tragic train collision occurred on Sunday evening, 18 January 2026, in Adamuz, Córdoba, resulting in at least 39 fatalities and over 150 injuries. The incident involved an Iryo high-speed train traveling from Málaga to Madrid, which derailed and collided with an Alvia train heading towards Huelva. The collision caused several carriages of the Alvia to plunge down a four-meter embankment, complicating rescue efforts.

What happened
The accident took place around 7:45 PM when the Iryo train derailed for reasons still under investigation. The Alvia train, traveling at approximately 200 kilometers per hour, struck the derailed carriages. Initial reports indicated that the Iryo train had been recently serviced and the track had undergone significant upgrades, raising questions about the cause of the derailment.

Emergency response
Emergency services were deployed immediately, with over 220 personnel from the Guardia Civil and military units assisting in rescue operations. The municipal sports pavilion in Adamuz has been converted into a temporary mortuary for the deceased. Hospitals in Córdoba are treating the injured, with many in critical condition.

Government actions
Prime Minister Pedro Sánchez announced three days of official mourning, emphasizing the need for unity and support for the victims' families. He also warned against misinformation surrounding the incident, urging the public to rely on verified sources for updates. Transport Minister Óscar Puente described the accident as 'strange and difficult to explain,' given the recent renovations on the track and the new condition of the trains involved.

Ongoing investigations
An official investigation has been launched to determine the causes of the accident. The Comisión de Investigación de Accidentes Ferroviarios will lead the inquiry, while the judicial aspects will be handled by local authorities. The investigation will focus on the sequence of events leading to the collision, particularly the 20 seconds that elapsed between the Iryo's derailment and the Alvia's collision.

Impact on rail services
In the wake of the accident, Adif has suspended all high-speed rail services between Madrid and Andalucía, affecting hundreds of trains. Renfe has implemented free changes and cancellations for affected passengers. The suspension is expected to last until the investigation is complete and the track is deemed safe for operation.

Community response
The local community has rallied to support the victims, with many residents offering assistance and resources to emergency services. The tragedy has prompted expressions of solidarity from across Spain, highlighting the collective grief and concern for those affected by this devastating incident. 📌 Distillation and sources

Pedro Sánchez's government has proposed a housing policy that includes tax incentives for landlords who do not raise rents and a sanctioning regime for short-term rentals. This initiative has faced criticism from coalition partners, particularly Sumar. Meanwhile, regional governments like Catalunya and Navarra are implementing their own measures to control rental prices, including strict regulations and fiscal reforms. As the housing crisis deepens, these varied responses reflect a complex landscape of strategies across Spain. 📌 Full content and sources

The UCO is investigating former SEPI president Vicente Fernández for alleged continued influence after his dismissal in 2019, contradicting claims by Deputy Prime Minister María Jesús Montero. The Supreme Court has upheld the pretrial detention of former minister José Luis Ábalos and collaborator Koldo García due to serious corruption charges related to the fraudulent procurement of medical supplies. Additionally, allegations suggest former Prime Minister José Luis Rodríguez Zapatero received kickbacks linked to the rescue of Plus Ultra and oil deals in Venezuela, although these claims lack formal evidence. The investigations raise significant concerns about public integrity and accountability. 📌 Full content and sources

Alfonso Fernández Mañueco, president of Castilla y León, has called regional elections for 15 March 2026 following the dissolution of the Cortes. This decision is mandated by law, as elections must occur four years after the previous assembly was formed in March 2022. The PP has governed the region since 1987, facing challenges from Vox and the PSOE. The upcoming elections will be part of a broader cycle that includes recent votes in Extremadura and Aragón, with Andalusia next. 📌 Full content and sources

António José Seguro and André Ventura will compete in Portugal's presidential runoff on 8 February 2026, after securing 31.14% and 23.48% of the votes, respectively, in the first round. Left-wing parties have united behind Seguro, while the Social Democratic Party remains neutral. State subsidies for campaign financing will be allocated based on first-round results, totaling approximately 4.18 million euros. The second round is expected to be a pivotal moment for Portuguese democracy amid rising political polarization. 📌 Full content and sources

In a decisive move, Prime Minister Sébastien Lecornu has invoked Article 49.3 of the French Constitution to pass the 2026 finance bill, following extensive negotiations with the Socialist Party (PS). This constitutional mechanism allows the government to adopt legislation without a parliamentary vote, a choice made necessary by the inability to secure a majority in the National Assembly.

Concessions made
The government made several concessions to the PS to ensure their support and avoid a censure motion. These include an increase in the activity bonus and the introduction of one-euro meals for students. The PS's parliamentary leader, Boris Vallaud, expressed satisfaction with these measures, stating they would allow the party to consider not censuring the budget.

Funding measures
To fund these initiatives, the government plans to extend the exceptional surtax on the profits of 300 large companies, projected to generate around €8 billion in revenue for 2026. This decision has drawn criticism from some business leaders who argue it places an undue burden on corporations.

Political context
The invocation of Article 49.3 comes after three months of parliamentary discussions, during which the government faced significant opposition. Lecornu had previously pledged to avoid using this controversial tool, but pressure from President Emmanuel Macron and the urgency of finalizing the budget before France assumes the G7 presidency necessitated this action.

Next steps
The budget will be presented in the National Assembly, where Article 49.3 can be activated as early as Tuesday for the revenue portion, followed by the expenditure portion shortly thereafter. The text will then move to the Senate before returning to the Assembly for a final vote under the same constitutional provision. If all goes according to plan, the budget could be promulgated by mid-February 2026, provided that the government can withstand any censure motions from opposition parties, including La France Insoumise (LFI) and the National Rally (RN).

Implications for governance
The use of Article 49.3 is a significant political maneuver that underscores the challenges faced by the current government in navigating a fragmented parliamentary landscape. While it allows for the swift passage of the budget, it also raises questions about democratic accountability and the potential for increased tensions between the government and opposition parties. As the political landscape evolves, the government's ability to maintain stability and address the concerns of various stakeholders will be crucial in the coming months. 📌 Distillation and sources