Zürcher Nachrichten - Greenland blues to Delhi red carpet: EU finds solace in India

EUR -
AED 4.31683
AFN 75.228656
ALL 95.068131
AMD 432.88885
ANG 2.103914
AOA 1079.059869
ARS 1643.281536
AUD 1.624521
AWG 2.118743
AZN 1.991897
BAM 1.948996
BBD 2.361158
BDT 143.847849
BGN 1.960765
BHD 0.442655
BIF 3489.319312
BMD 1.175447
BND 1.486511
BOB 8.100722
BRL 5.763923
BSD 1.172308
BTN 110.704547
BWP 15.739057
BYN 3.312935
BYR 23038.755179
BZD 2.357769
CAD 1.608505
CDF 2662.386498
CHF 0.915908
CLF 0.026661
CLP 1049.297515
CNY 7.99392
CNH 7.984785
COP 4406.77316
CRC 538.918716
CUC 1.175447
CUP 31.149337
CVE 109.881421
CZK 24.321109
DJF 208.761246
DKK 7.473067
DOP 69.71663
DZD 155.469647
EGP 61.803693
ERN 17.6317
ETB 183.048306
FJD 2.570526
FKP 0.862123
GBP 0.865123
GEL 3.14435
GGP 0.862123
GHS 13.2059
GIP 0.862123
GMD 86.401959
GNF 10286.092801
GTQ 8.950754
GYD 245.283751
HKD 9.203248
HNL 31.165207
HRK 7.53743
HTG 153.48421
HUF 354.855317
IDR 20475.693665
ILS 3.425131
IMP 0.862123
INR 111.903699
IQD 1535.738967
IRR 1541598.337446
ISK 143.804144
JEP 0.862123
JMD 184.765013
JOD 0.833364
JPY 184.699082
KES 151.80888
KGS 102.758144
KHR 4703.580509
KMF 491.336451
KPW 1057.901973
KRW 1733.5845
KWD 0.361799
KYD 0.976989
KZT 541.818593
LAK 25709.252874
LBP 104981.226364
LKR 377.43244
LRD 215.119052
LSL 19.232562
LTL 3.470789
LVL 0.711016
LYD 7.413122
MAD 10.721772
MDL 20.047019
MGA 4896.905641
MKD 61.66263
MMK 2467.881405
MNT 4204.228756
MOP 9.452303
MRU 46.857428
MUR 54.928689
MVR 18.102674
MWK 2032.40518
MXN 20.243366
MYR 4.618341
MZN 75.122928
NAD 19.232562
NGN 1596.209455
NIO 43.139407
NOK 10.809994
NPR 177.127674
NZD 1.977548
OMR 0.451959
PAB 1.172308
PEN 4.053251
PGK 5.176928
PHP 71.820961
PKR 326.72565
PLN 4.240594
PYG 7161.002021
QAR 4.285042
RON 5.221219
RSD 117.39068
RUB 87.569554
RWF 1718.600624
SAR 4.428479
SBD 9.426415
SCR 17.186198
SDG 705.853791
SEK 10.880463
SGD 1.492464
SHP 0.87759
SLE 28.974525
SLL 24648.524918
SOS 669.961266
SRD 43.960489
STD 24329.373323
STN 24.414772
SVC 10.25819
SYP 129.943205
SZL 19.219906
THB 38.155068
TJS 10.937718
TMT 4.114063
TND 3.405113
TOP 2.830194
TRY 53.338599
TTD 7.945264
TWD 36.929038
TZS 3067.915591
UAH 51.495537
UGX 4392.665866
USD 1.175447
UYU 46.756779
UZS 14220.358871
VES 586.82527
VND 30943.634188
VUV 139.381869
WST 3.182048
XAF 653.675119
XAG 0.014665
XAU 0.000252
XCD 3.176703
XCG 2.112824
XDR 0.812962
XOF 653.675119
XPF 119.331742
YER 280.490981
ZAR 19.363135
ZMK 10580.421228
ZMW 22.319087
ZWL 378.493355
  • BCC

    -2.0900

    70.67

    -2.96%

  • JRI

    0.0000

    13.15

    0%

  • BCE

    -0.4300

    24.14

    -1.78%

  • CMSD

    0.1140

    23.534

    +0.48%

  • RIO

    2.2700

    105.38

    +2.15%

  • BTI

    0.2000

    58.28

    +0.34%

  • GSK

    -0.0900

    50.41

    -0.18%

  • RBGPF

    0.7000

    63.61

    +1.1%

  • CMSC

    0.1400

    23.11

    +0.61%

  • NGG

    0.9800

    86.89

    +1.13%

  • VOD

    0.5100

    16.2

    +3.15%

  • BP

    -0.4700

    43.34

    -1.08%

  • AZN

    0.3300

    182.85

    +0.18%

  • RELX

    0.0759

    33.58

    +0.23%

  • RYCEF

    -0.4100

    16.37

    -2.5%

Greenland blues to Delhi red carpet: EU finds solace in India
Greenland blues to Delhi red carpet: EU finds solace in India / Photo: Sajjad HUSSAIN - AFP

Greenland blues to Delhi red carpet: EU finds solace in India

Presiding over the signing of a major trade deal alongside Indian Prime Minister Narendra Modi on Tuesday, EU chief Ursula von der Leyen broke into a large smile.

Text size:

A diplomatic and economic coup, the EU-India pact comes as a welcome piece of good news for Brussels after a tumultuous few weeks dominated by US threats over Greenland.

Addressing a press conference in New Delhi, von der Leyen described it as a tale of "two giants who choose partnership" and "the best answer to global challenges".

In spite of its eye-tickling pollution, the Indian capital must have felt like a breath of fresh air for von der Leyen and European Council president Antonio Costa, who co-led the EU delegation.

As they flew away from Brussels over the weekend, the pair left behind a just-defused crisis in transatlantic relations and internal squabbling over another trade deal with South American nations.

In New Delhi, authorities rolled out the red carpet for the pair, who were feted as guests of honour at India's Republic Day parade.

Posters emblazoned with their faces adorned lampposts across the city.

Costa, whose family hails from Goa, proudly flashed his Indian identity card at a press conference where Modi celebrated him as "the Gandhi of Lisbon".

Meanwhile local media praised von der Leyen's burgundy and gold brocade outfit -- a nod to Indian fashion.

It was a far cry from the scorn and threats reserved for Europe by its traditional ally the United States at the World Economic Forum in Davos last week.

European officials had been hoping to make progress on Ukraine at the Swiss ski resort -- a goal drowned out by US President Donald Trump's push to wrest control of Greenland from EU member Denmark.

- 'Difficult job' -

Trump made an about-turn after talks with NATO chief Mark Rutte -- a change of heart EU officials were keen to credit to Europe's firm response -- and the climbdown took the sting out of an emergency summit called on the Greenland issue.

One year into Trump's second term, Costa said the European Union has "learned how to manage" the ups and downs, and not to "react to each message".

"We need to keep calm and continue to have a polite, respectful relationship," the council chief told AFP. "At the same time, we need to diversify our relationships".

But few in Europe believe the Greenland crisis was a one-off bump in the road, with the unpredictable US leader at the helm.

Maros Sefcovic, the EU's trade chief, told AFP he scours through newspaper headlines each morning in anticipation of "what else might happen".

"It's indeed a difficult job," he quipped.

Yet he said the same was true for most other countries, which in turn found renewed appeal in what Europe has to offer: partnership, predictability and stability.

India, for one, was left bruised by tariffs slapped on it by the White House over its purchase of Russian oil as New Delhi and Washington were negotiating a -- so-far-elusive -- trade deal.

"The last year has turbocharged the European trade policy," Sefcovic said.

Pushing to reduce its dependencies on the United States and China and lower the cost of US tariffs, the EU was negotiating or looking to open talks with an array of nations including the Philippines, Malaysia, the United Arab Emirates and Australia, he said.

- 'New opportunities' -

By cutting or eliminating tariffs on almost 97 percent of European exports, the deal struck in New Delhi will help ease access to India's 1.4-billion-people-strong market for cars, wine, pasta and other EU products.

But the signing also allowed Brussels to turn the page after a just-sealed pact with South American bloc Mercosur was cast into limbo by a legal challenge in the European parliament.

That setback added to rancorous divisions among member states over the deal's impact on European farmers, who remained deaf to the EU's arguments and staged months of tractor-mounted protests against the accord.

European officials hope the new India deal will also help bring the South Asian giant diplomatically closer to Europe.

Neutral on Ukraine, New Delhi has relied on Moscow for key military hardware for decades, but has tried to cut its dependence by diversifying imports and pushing its own domestic manufacturing base.

Modi said a security partnership struck alongside the trade deal would provide "new opportunities" for defence companies.

While denying a pivot away from Russia, foreign secretary Vikram Misri said India was interested in hosting the joint production of European military kit.

Monday's Republic Day parade featured Russian helicopters and planes, alongside dancers and motorcycle daredevils.

But, in perhaps a hint of things to come, it ended with a squad of French-made Rafale fighter jets zooming overhead.

R.Bernasconi--NZN