Leaders of EU countries fail to reach consensus on next leadership appointments

Leaders of European Union (EU) countries on Monday failed to reach a final agreement on candidates for the bloc's top jobs despite lengthy talks at an informal summit in Brussels, Belgium.

An appointment plan for EU's top positions which was floated by all parties before the informal dinner, showed Ursula von der Leyen for a second term of the European Commission president, Portugal's former primer minister Antonio Costa as the president of the European Council, current European Parliament President Roberta Metsola retaining her job, and Estonia's Prime Minister Kaja Kallas for High Representative of the Union for Foreign Affairs and Security Policy.

According to the European edition of Politico, leaders of the 27 member states of the EU had a discussion in a room without phones or advisers.

Though there was a high hope for a consensus, they ultimately ended the summit without an agreement, according to two EU diplomats, which was confirmed by President of the European Council Charles Michel.

"There is no agreement tonight at this stage," Michel told the media after the informal dinner summit, but did not disclose reasons.

A senior Hungarian official said at the break that Hungary will not support von der Leyen for a second term as president of the European Commission, according to a media report.

The official said that von der Leyen does not have good relations with Hungary, so it will be difficult for Hungary to support her re-election.

In addition, the European Union is also divided on the role of Estonian Prime Minister Kallas as the EU's High Representative for Foreign Affairs and Security policy.

Kallas is seen as focusing too much on the Russia-Ukraine conflict and neglecting the rest of the world. But she said recently she would focus on other issues, not just Russia and Ukraine, which has won her some support.

The European Council will formally nominate candidates for EU leadership at the EU Summit to be held from June 27 to 28, but it is still unclear what measures the EU will take to select the next leadership.

Leaders of EU countries fail to reach consensus on next leadership appointments

The European Central Bank (ECB) announced on Thursday that it would slash key interest rates by 25 basis points in a bid to wind down the restrictive monetary policy.

Effective from March 12, the interest rates on the deposit facility, the main refinancing operations and the marginal lending facility will be decreased to 2.50 percent, 2.65 percent and 2.90 percent respectively, said the central bank in a statement.

The disinflation process is well on track, with headline inflation averaging 2.3 percent in 2025, 1.9 percent in 2026 and 2.0 percent in 2027, the ECB said.

The decision to keep on cutting rates came at a time when the economy in the eurozone is facing increasing uncertainties.

In its latest edition of the staff projections on Thursday, the ECB lowered its forecast for economic growth in the eurozone to 0.9 percent for 2025, 1.2 percent for 2026 and 1.3 percent for 2027.

This marks a downward revision from the ECB's forecast in December last year, which had projected 1.1 percent growth in 2025 and 1.4 percent in 2026, while the 2027 outlook remains unchanged.

The ECB attributed the weaker growth outlook for 2025 and 2026 to declining exports and sluggish investment, citing high trade policy uncertainty and broader economic instability as key factors.

ECB cuts interest rates by 25 basis points