Global debt hits record of over $324 trillion, says IIF
Global debt rose by around $7.5 trillion in the first three months of the year to hit a record high of over $324 trillion, data from a banking trade group showed on Tuesday.
Opposition lawmakers in France have brought down Prime Minister Michel Barnier's government in a historic no-confidence vote on Thursday. Calls for President Emmanuel Macron's resignation are now growing, deepening the country's political crisis.
The proposed budget, totaling sixty billion euros, was met with strong opposition from both the far-right and left-wing lawmakers, who argue that the measures would disproportionately impact the French public. The budget, which aims to address France’s growing financial challenges, has sparked widespread protests and calls for government accountability. This is the first time since 1962 that a French government has lost such a vote.
Marine Le Pen, leader of the far-right National Rally (RN) party, discussed the increasing pressure on President Emmanuel Macron. While she did not directly call for his resignation, Le Pen warned that continued disregard for voters' concerns would strengthen the pressure on the president. She suggested that Macron would ultimately have to decide whether to call for early elections or remain in power despite mounting opposition.
"I am not pushing for, I am not asking for the resignation of Emmanuel Macron," Le Pen said. "But if we don’t take the route of respecting the voters and political forces and elections, well, then the pressure on the president will of course be stronger and stronger. But he’s the only one who will make the decision, who will have the last word, on whether he wants the French people to vote again before 2027 or whether he wants to stay on the horse at any price, so to speak."
Meanwhile, the left-wing France Unbowed (LFI) party is calling for Macron’s resignation, accusing him of repeatedly imposing policies that the public has rejected. LFI members argue that Macron’s reforms are geared towards the wealthiest, burdening public services and ordinary citizens.
Mathilde Panot, a member of parliament from the far-left party, stated, "Today, with the no-confidence motion in this government, it is Emmanuel Macron's entire politics that has been defeated, one which was defeated three times in the results of elections, one which persists in wanting to make the people and the public service pay for policy made for the richest, one which must now stop. And to get out of the impasse in which the president has placed the country, there is only one solution, we now ask Emmanuel Macron to leave."
With Prime Minister Barnier's resignation expected, France faces political uncertainty. Without a new parliamentary election until July, the country is at risk of political paralysis, which could delay key decisions, including the approval of the 2025 budget. The situation has left France’s political future in question as both the public and lawmakers demand change.
India has fired a series of missiles into Pakistani-controlled territory, in what it has described as “Operation Sindoor”
For the first time in history, an American has been chosen to lead the Catholic Church, as Cardinal Robert Prevost is named pope.
Discover every major VE Day 80 event in Britain, 5‑8 May 2025—from London’s parade and fly‑past to street parties, concerts and museum exhibitions.
Chinese e-commerce platform Temu has announced it will no longer sell goods directly from China to U.S. customers, shifting instead to U.S.-based sellers amid the closure of a long-criticized customs loophole.
Cardinals from 70 nations have gathered in Vatican City to begin the historic conclave to elect the next pope, following the death of Pope Francis 17 days ago. This conclave is the most geographically diverse in Church history, showcasing Francis’ legacy of inclusivity.
European Commission President Ursula von der Leyen announced a renewed drive to establish a unified capital market across the EU, aiming to unlock private investment for defence, digitalisation, and climate initiatives, with significant progress expected before summer.
India has proposed a steep reduction in average tariffs on U.S. goods - from nearly 13% to under 4% - in a strategic move to secure exemption from current and future tariff hikes under President Donald Trump, according to Indian officials familiar with the talks.
North Korean leader Kim Jong Un made a rare public visit to the Russian embassy in Pyongyang alongside his daughter on Friday, joining in celebrations for Victory Day and reaffirming his commitment to deepening the strategic alliance between North Korea and Russia.
Pope Leo, the first pontiff from the United States, delivered his first Mass on Friday, expressing hope that his election would help the Church bring light to the "dark nights of this world."
As the world marks 80 years since the defeat of fascism in World War II, Azerbaijan's pivotal contribution—on both the battlefield and the home front—stands as a testament to national unity, resilience, and enduring sacrifice.
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