Von der Leyen’s proposal to make Canada the EU’s first “associate member” surprised EU capitals, with diplomats saying the idea was not consulted in advance and lacks a clear definition.

Canada also appeared cautious, with officials saying they were focused on deeper cooperation rather than the proposed status.

Carney is set to address the European Parliament today.

Source: POLITICO

Indian Prime Minister Narendra Modi:

Friends, India is the mother of democracy.

When such a country succeeds in a critical industry, it strengthens the supply chains of the entire world.

Polish Foreign Minister Sikorski:

After the victory, Ukraine will be a huge exporter of military technology and we will be learning about how to conduct a modern war from your militaries.

Polish Foreign Minister Sikorski:

We have more tanks and more brigades than Germany, France and Britain combined that we could deploy.

A Syrian man has returned to his home in Damascus and uncovered a private library he hid behind a wall in 2011 before fleeing to Kuwait.

The collection contained books that had been banned by the Assad regime and could not be openly owned or circulated during its rule.

South Africa President Cyril Ramaphosa has stepped back from public duties due to a health issue, the presidency announced.

Ramaphosa’s medical team advised him to rest after his return from the BRICS Summit in India.

The nature of his illness was not disclosed.

EU's von der Leyen:

For every person under 18 the platforms must follow the principle of safety by design. No toxic or addictive features, no traps etc.

Now age will be verified using EU certified tools like our age verification app.

This app is built on zero knowledge proof. That means that the platform only learns one single thing, and that's whether you're old enough to allow access or not.

Zelensky on China:

It's a pity that China is not on our side in this war, politically, even it's not about weapons.

It's about the political will, and it's a pity because this war can be started and stopped immediately by strong leaders, including China.

Zelensky told NHK that the war in Ukraine could threaten security in East Asia, citing North Korea’s growing military ties with Russia.

Zelensky said North Korea has sent tens of thousands of troops to fight alongside Russia, warning that they are gaining battlefield experience.

“It’s a big problem because it was not expensive for North Korea just to send people, and they begin to learn modern war,” he said.

He added that Russia allowed Pyongyang to gain combat experience “without big losses,” increasing the security risks for the region.

NEW: Türkiye is dismantling a Ponzi-like fund scheme on the Borsa Istanbul (BIST), the country's main stock exchange.

Tera Portföy and Pusula Portföy delivered returns measured in thousands of percent by pumping investor money into their own affiliated low-float stocks in a circular loop.

One fund held 99% of assets in a single related stock.

Rising prices attracted more inflows, which bought more of the same stocks, inflating NAVs further. ~133 billion TL fled Pusula funds alone once new rules hit.

When Türkiye’s capital markets regulator SPK enforced new free-float and concentration rules, redemptions crashed the scheme.

Pusula couldn't pay out, then Tera itself defaulted on two funds (~$7.5B combined).

Six more Tera funds switched to delayed redemptions. BIST 100 dropped as much as 7.7%, triggering circuit breakers.

The state stepped in hard.

Emergency Financial Stability Committee meeting held this morning. Criminal complaints filed against 38 people for market manipulation in three stocks — Katılımevim, Gündoğdu Gıda, and Destek Finans Faktoring. Two-year trading ban slapped on Pusula.

All funds from seven portfolio companies — Tera, Pusula, Hedef, Atlas, A1, Pardus and Bulls — frozen on TEFAS (Türkiye’s central fund trading platform) and heading for forced liquidation.

BIG: German Chancellor Merz is facing growing pressure after recent election setbacks and internal criticism.

Ahead of elections in Mecklenburg-Vorpommern and Berlin, Merz plans to seek support from the CDU leadership in an “indirect vote of confidence” on Sunday.

Merz wants backing for his reform agenda and his continuation as chancellor, while critics have raised the possibility of a leadership change.

Potential successors mentioned include North Rhine-Westphalia Premier Hendrik Wüst, CSU leader Markus Söder, and Interior Minister Alexander Dobrindt.

Source: ZDF

Someone in the European Parliament yells “USA! USA!” as Canada’s PM Mark Carney is about to begin his speech.

Carney laughs.

Canadian PM Mark Carney:

We believe that a strong economy is not an end in itself, but a means to a just society.

Canadian PM Mark Carney:

Canada and Europe are not bound by geography; we’re bound by an affinity, elective, chosen, renewed, and stronger.

Canadian PM Mark Carney:

Canada and Europe are each strong; Europe and Canada are stronger together.

Canadian PM Mark Carney:

Yesterday, President von der Leyen spoke of moving to an alliance for the future, opening the door to Canada to become the EU’s first associate member.

BIG: Canadian PM Mark Carney:

Canada and Europe should secure our strategic autonomy through deep cooperation in the full range of strategic capabilities, including critical minerals, defense industrial capacity, AI and compute, energy security, and space.

We should allow our youth to work, study, and live where they want on either side of the Atlantic.

Canadian PM Mark Carney:

Canadian membership of Erasmus+ would give your students and ours more opportunity to broaden their horizons and to build those lasting ties that would sustain our allies for the future.

Canadian PM Mark Carney:

Canada and Europe should consider exploring an integrated market for financial services.

Türkiye Relocates Commando Brigade to Aegean Coast Opposite Greek Island

Turkish Defense Ministry says relocation of 51st Commando Brigade from eastern Türkiye to Söke, across the Aegean from Samos, was approved in June as part of operational planning.

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Canadian PM Mark Carney:

I am not proposing a third bloc in order to become a great-power rival, only with better manners.

We do not seek power to dominate others. On the contrary, we are pursuing resilience so no one can control our open markets or threaten our territorial integrity.