Oct 16, 2026, 09:00 AM UTC

Latvian Prime Minister Andris Kulbergs has stated that Ukrainian President Volodymyr Zelenskyy currently relies almost exclusively on European backing amid ongoing tensions between Washington and Kyiv.

Speaking in an interview on the second day of a summit of European leaders in Brussels, Kulbergs observed that "Zelenskyy has only one ally now, it’s actually the Europeans."

His remarks underscore growing concerns among Baltic and broader European officials regarding the predictability of future American diplomatic and military assistance to Ukraine as the war continues. European leaders have increasingly emphasized the need for the continent to bolster its own defense capabilities and sustain long-term aid for Kyiv.

Sources: Bloomberg

Concerns are rising over France's deteriorating public finances as ongoing political instability threatens to trigger broader financial contagion across Europe. Investors are increasingly anxious about French government bonds, fearing that the country's mounting fiscal troubles could spread to other eurozone economies.

Market uncertainty is further fueled by long-term political prospects, notably the upcoming 2027 presidential election. Financial analysts and investors express skepticism regarding prominent political figures, including far-right leader Marine Le Pen and far-left leader Jean-Luc Mélenchon, questioning their capacity or willingness to rein in public spending and stabilize national debt. Observers warn that without decisive policy adjustments, prolonged volatility in French debt markets could pose a serious risk to European economic stability.

Sources: Bloomberg.