Category: English

Source: European Anti-Fraud Offfice

Commissioner Piotr Serafin will host an Implementation Dialogue on the review of the EU Anti-fraud Architecture (AFA) on 10 November at 15:00 – 16:30.

The dialogue will allow stakeholders to exchange with the Commissioner and provide their views and ideas on the AFA review as framed by the white paper. The implementation dialogue will also explore new pathways of cooperation among the AFA actors to further strengthen the protection of financial interests of the Union. Part of this exploration should focus on measures aimed at simplifying the cooperation between actors or processes involved in tackling fraud.

The summary conclusions from the Implementation Dialogue will be available on the webpage of OLAF and on the Europa website dedicated to implementation dialogues.

Objective

The objective of this dialogue is to collect stakeholders’ feedback on experiences and challenges encountered when operating within the EU anti-fraud domain, as well as their suggestions for improvement.

The discussion will be structured around five key themes, which represent the five main areas of focus identified in the white paper for the anti-fraud architecture review:

• Strengthening preventive measures
• Improving detection
• Improving investigation and prosecution capabilities
• Improving the efficiency of recovery for the EU budget
• Improving the governance of the anti-fraud architecture

The white paper contains key questions that the AFA review could explore for each of these areas. The expected goal of the discussions is to collect the concrete views and suggestions of the represented stakeholders along these questions.

Participants

Participation in this online event is upon invitation only. 

Participants represent civil society and business actors and media who deal with the fight against fraud.

Background

President von der Leyen tasked all Commissioners to organise two Implementation Dialogues per year to align implementation with realities on the ground. The implementation dialogues aim to strengthen European competitiveness by seeking feedback from stakeholders to facilitate the implementation of EU policies and the simplification of EU rules and spending programmes.

Source: Government of Sweden

On 30–31 October, Minister for Energy, Business and Industry Ebba Busch visited Singapore. During the visit, Ms Busch met with Singapore’s Minister of Energy and Swedish companies operating in the country. In conjunction with the visit, two Memorandums of Understanding (MoUs) were also signed between companies and academia from Sweden and Singapore on green ammonia and quantum technology, respectively.

Source: Agenzia Fides – MIL OSI

Punjab Assembly – Facebook

Lahore (Agenzia Fides) – The Punjab government and the Pakistan Election Commission “should defend the democratic principles and ensure that every citizen – regardless of their ethnicity, culture, or religious group – can actively participate in the political process and exercise their right to vote,” Archbishop Joseph Assad, Chairman of the Justice and Peace Commission of the Pakistan Bishops’ Conference, made this appeal on the eve of the Punjab provincial elections.Punjab holds a significant position in terms of Pakistan’s history, culture, social composition (it is also the most populous province, with a total population of over 127 million), and economic importance.The recently enacted Punjab Local Government Act 2025 affirms the system of reserving some seats in the provincial assembly for minority groups. Political parties will select non-Islamic minority members and women representatives from their electoral lists according to their own positions. Archbishop Arshad urged political leaders, legislators, and the Election Commission to “ensure equality, religious freedom, and the full participation of all citizens in public life, in accordance with the spirit of the Constitution of Pakistan.” He also encouraged Christian believers “to play an active role in civic education, voter registration, and civic and democratic participation,” in order to promote unity and harmony in the country.”In times like this, when the population exercises its right to vote and democratically determines the government, as Christians we are called to be united and to seek political representation that can then protect our identity, our rights, and our needs, sometimes ignored or forgotten by the executive branch,” notes Father Mario Angelo Rodrigues, priest and headmaster of the renowned St. Patrick Catholic High School in Karachi, in an interview with Fides. “Pakistani Christians, like Hindus and citizens of other faiths, should set this goal in mind, because at the provincial and national level, policies are guided by principles of fairness, justice, and equal opportunities, and reject any discriminatory policies that still plague our country.”Father Rodrigues emphasizes another issue: “In political participation, personal conscience is crucial. That is to say, regardless of the religious or ethnic group to which elected representatives belong, they must act with honesty and integrity, because in our country, corruption harms everyone; it is not political or religious, but affects every individual.” Therefore, he concluded, “Candidates must be carefully selected who see political participation as a service to others and a mission; their lives must truly be illuminated by their faith.” (PA) (Agenzia Fides, 31/10/2025)
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Source: Agenzia Fides – MIL OSI

Nairobi (Agenzia Fides) – Stop the exploitation of small tea farmers, whose wealth ends up in the hands of corrupt officials. This is the appeal launched by Father Ambrose Kimutai, parish priest of the church in Ndaraweta, Bomet County, in the western Rift Valley. “I speak on behalf of the small tea producers of Bomet, Kericho, and Nandi counties,” the priest said after Sunday Mass on October 26. “Small farmers produce large quantities of tea, and Kenya reaps enormous profits from its export, which allows it to pay the salaries of civil servants, teachers, and other employees.” “But, sadly,” he added, “the very system created by the government is destroying small farmers, imposing structures that exploit them and prevent them from earning sufficient income.” Father Ambrose is referring to the Kenya Tea Development Agency (KTDA), a state agency founded in 1964 to help local farmers improve their production and which buys a large portion of the tea grown in the Rift Valley region.The priest described as “shameful” the price of 13 Kenyan shillings per kilo (0.09 euros) that KTDA pays farmers in his area, an amount he considers completely insufficient to cover the high production costs. “We expected a bonus, but it’s only 13 shillings per kilo! Shameful! 13 shillings! If you give that to a farmer, they’ll start crying. The farmers are crying!” he exclaimed. Father Ambrose also highlighted the vast disparity between KTDA payments and those of other agencies, which pay up to 40 shillings (0.27 euros) per kilo of tea leaves. “If the government doesn’t intervene, we will stop picking tea and selling it to the KTDA,” he warned, giving the authorities a one-month ultimatum to take action. He also indicated that major transport routes could be blocked to demonstrate the farmers’ collective power. The Ministry of Agriculture has launched a full audit of loans obtained by companies managed by the KTDA, an institution that “was originally well-structured, but has been infiltrated by fraudsters who have driven up operating costs, negatively impacting farmers’ profits,” the Ministry’s Secretary General acknowledged. In early October, several members of parliament called for an investigation into corruption and mismanagement within the KTDA.Government investigations revealed an alarming situation: some agency directors hold between 110 and 165 meetings a year, charging an average of 50,000 shillings (334 euros) per meeting, which brings them between 5.5 and 8.25 million shillings annually (between 36,800 and 55,194 euros), at the expense of producers struggling to survive. Tea is Kenya’s second largest export, with a total value of 215 billion shillings (1,438,709 euros). (L.M.) (Agenzia Fides, 31/10/2025)
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Source: Agenzia Fides – MIL OSI

Vatican City (Agenzia Fides) – “One in Christ, united in mission” is the theme of the World Missions Day which next year will mark the 100th anniversary of its establishment by Pope Pius XI, at the suggestion of the Pontifical Society for the Propagation of the Faith.On the day that marks the end of the month traditionally dedicated to missions, the theme chosen by the Holy Father for the next World Mission Day, which will be celebrated on 18 October 2026, as every year, on the penultimate Sunday of October, is announced.In his appeal sent this year in support of World Mission Day, Pope Leo XIV emphasized that it is a special occasion when the whole Church unites in prayer for missionaries and for the fruitfulness of their apostolic work. Recalling his personal experience as a priest and then missionary bishop in Peru, the Supreme Pontiff said: “I saw first-hand how the faith, the prayer and the generosity shown on World Mission Sunday can transform entire communities”.The theme of World Mission Day 2026, which in its first part recalls the motto chosen by the Holy Father for his Pontificate, “In Illo uno unum”, recalls the unity of believers in faith, based on the unity with Christ con the Father, and the consequent common mission of evangelization.The first step in the preparation of World Mission Day 2026 will be the dissemination, in the first months of the year, of the Holy Father’s message. This will become the guiding thread of the many initiatives of animation and formation in the spirit and of missionary responsibility in all the faithful throughout this significant year, during which we will also celebrate the 110th anniversary of the foundation of the Pontifical Missionary Union, defined by Saint Paul VI as “the soul of the other Pontifical Missionary Works” (Society for the Propagation of the Faith, Society of the Holy Childhood and Society of Saint Peter the Apostle). These four societies, each with its own specific character, are dedicated to promoting missionary responsibility among the baptized and supporting the new particular Churches (cf. Apostolic Constitution Praedicate Evangelium, Art. 67 §1). (EG) (Agenzia Fides, 31/10/2025)
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Source: Agenzia Fides – MIL OSI

Foto de capa: Fernando Frazão/Agência Brasil

Rio de Janeiro (Agenzia Fides) – The Pontifical Mission Societies (PMS) of Brazil have expressed, in a statement sent to Fides, their profound solidarity and sorrow for the recent tragic episodes of violence in Rio de Janeiro, particularly the massacre that took place in the Penha and Alemão complexes on Tuesday, October 28.“In this Missionary Month, which concludes today and in which we have been invited to be ‘missionaries of Hope among the peoples,’ our prayers go out to the families who have seen their loved ones murdered. The pain of each loss is the pain of the entire Church, which walks alongside those who suffer and mourn,” writes Sister Regina da Costa Pedro, National Director of the PMS of Brazil. The nun continued: “We cannot remain silent in the face of the repeated violence that continues to claim victims. Human life is inviolable, and the State has the primary duty to protect, not to kill. At the same time, we express our total opposition to all forms of violence, whether it stems from drug trafficking or the actions of militias. All power that imposes itself through death and fear is contrary to the message of the Gospel and to the dignity of the human person.”In the statement, the Brazilian Pontifical Mission Societies express their desire for true and lasting peace in the communities and favelas, achieved not through weapons, but through the protection and effective exercise of fundamental rights. Investing in education, health, housing, and civic programs becomes a priority to reduce the profound racial and class inequality that disproportionately affects the poorest young people in the peripheries. “It is necessary to transform communities not only into places of survival, but into spaces of full citizenship, where life can flourish with dignity and security. May hope, the heart of our mission, be an invitation to peace for all men and women of goodwill, so that together we can build a country where life, in all its fullness, is the supreme value. As Pope Francis reminded us: ‘Do not let anyone take away your hope,’” concludes Sister Regina da Costa Pedro. (EG) (Agenzia Fides, 31/10/2025)
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Source: Agenzia Fides – MIL OSI

Friday, 31 October 2025

by Pascale RizkCanberra/Sydney (Agenzia Fides) – More than forty years have passed since 1984, when a missionary priest from Sydney began traveling once a month to Canberra to celebrate Mass with the local Korean Catholic community.In 2011, the Diocese of Daejeon, Korea, officially sent its first full-time chaplain. “I am impressed to see how the Christian faith is lived in a multicultural society. In addition to my ministry with the Korean community, I also serve in local parishes,” says Father Andrea Yang Myeong-sik, who celebrates the Eucharist in Korean once a week. “This leads me to constantly reflect on how the Korean community can better integrate into the local parish and other ethnic communities,” adds the priest, who cares for the small flock of about 130 first-and second-generation Korean immigrants.Due to Canberra’s unique profile—an administrative capital with a relatively small population and limited job opportunities—mobility is high, and the community is constantly changing. “One of the urgent challenges we face is cultivating a sense of continuity in our pastoral work, despite the frequent changes in the community’s composition,” explains Father Andrea.Unlike Sydney, Canberra has fewer international students or working holiday visa holders. Most of the Koreans residing in the Australian capital are families and professionals who have come for work. Baptisms are celebrated a couple of times a year. “Now,” recounts Father Myeong-sik, “we have among us a young Chinese woman who studied and worked in Korea before coming to Australia.” Her friend, who had been baptized in our community two years ago, invited her to join us. Instead of attending a local English-speaking parish, she began catechism with the Korean community.”In the Sydney metropolitan area, home to Australia’s largest Korean Catholic community, Father Andrea Kim Yoon Jae says: “I was a missionary sent from South Korea specifically for this mission.” Today, along with three other Korean priests, he serves the parish dedicated to the Korean Martyrs and Saint Stanislaus, founded in 1976 with the help of Franciscan and Columban Fathers who had served as missionaries in South Korea. More than 1,400 people attend Sunday Mass, although the registered membership exceeds 6,000. Baptisms are celebrated four times a year for infants and once a year for adults. “A distinctive feature of our parish,” emphasizes Father Yoon Jae, who has been in Sydney for four years, “is the decision of many parents to have their children baptized within the context of the excellent educational work promoted by the many Catholic schools in the area.”The Korean Catholic community in Sydney is preparing to celebrate the 50th anniversary of its founding. Today, it brings together immigrants from various generations, who arrived in four waves: the 1960s, composed of skilled workers; the 1970s and 80s, largely made up of Vietnam War veterans; the 2000s, with students and young people on working holiday visas; and the most recent, comprised of families and students who migrated for study or work. “Due to distance and economic reasons, Korean immigration to Australia has continued to grow, and new people continue to join the community. This influx is likely to continue for some time,” observes Father Yoon Jae Kim. In their pastoral work, Korean missionaries in Australia also face the challenge of a generational gap and difficulties in mutual understanding among faithful of different ages and cultural backgrounds.In Melbourne, at the Sacred Heart Parish in Kew, the Korean presence is smaller and limited to a few families whose children attend the parish school. Father Michele Kong, originally from Seoul and a resident of Australia for about twenty years, carries out his ministry there. Ordained eleven years ago in the Archdiocese of Melbourne, the priest points out a cultural difference in the pastoral experience of Korean Catholic communities in Australia compared to those in his country of origin: “While the faithful in Korean churches tend to behave more reservedly, those in Australian parishes express themselves in a more extroverted and informal way.” (Agenzia Fides, 31/10/25)
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Source: European Banking Authority

The European Banking Authority (EBA) today published its second Report on the benchmarking of national loan enforcement frameworks across the EU Member States. The Report, which was compiled in response to the EU Commission’s call for advice in the context of the Savings and Investment Union’s agenda, calculates the benchmarks for loan recovery outcomes for the EU 27 aggregates and for the individual Member States. The results highlight a high degree of dispersion among different categories of loans, and across the EU27 Member States, for most of the benchmarks and loan categories. In addition, the Report underscores the importance of certain elements related to both the legal framework and the judicial capacity to improve the recovery outcomes.

As part of the Savings and Investment Union (SIU) agenda, in April 2025 the EBA received from the European Commission a Call for Advice for the purposes of gathering data for benchmarking national loan enforcement frameworks (including insolvency frameworks), from a bank creditor perspective. The EBA was invited to update the work carried out in the first benchmarking exercise in 2020 by applying the same methodology, subject to the necessary adaptations and improvements.

The Report provides a rich and unique set of benchmarks on national insolvency frameworks across 27 EU countries, based on loan-by-loan data. The final representative dataset consists of more than 1.4 million relevant loans at the EU 27 Member State level. Overall, the benchmarks presented in this Report are largely aligned with previous findings. Some differences can be observed at country level and are due to the different data sources and macroeconomic environment, methodological issues and some data quality issues.

The Report covers three asset classes: firms, large corporates and small and medium-sized enterprises (SMEs). The benchmarks are calculated for each asset class for recovery rates (gross and net of all costs), time to recovery, and judicial cost to recovery. For firms, the EU 27 Gross Recovery Rates remain stable compared to the 2020 Report (42.5% in 2018Q4 vs. 42.2% in 2023Q3), while Net Recovery Rates have declined (from 40.6% to 37.6%). Judicial Costs to Recovery have decreased (from 4.3% to 3.5%) and the average Time to Recovery has increased (from 3 years to 4.2 years). These results point to higher incurred costs in enforcement processes beyond pure judicial expenses. The aggregate results mask a high degree of dispersion across the EU 27 Member States for most of the benchmarks and in most loan categories.

The Report also finds that the legal system underlying the enforcement framework is a significant factor to explain the recovery rates and time to recovery. Positive characteristics of the enforcement frameworks that are common to the asset classes considered are, for example: (i) legal instruments to enable out-of-court enforcement of collateral; (ii) the possibility for creditors to influence the proceedings through creditor committees; (iii) the availability of debt re-structuring option for SMEs ; and (iv) pre-existence of triggers for collective insolvency proceedings. However, the extent to which such positive characteristics can enhance the recovery outcomes also depends on the legal origin: in some cases, the prevailing judicial processes seem to be already efficient and recovery outcomes could therefore be less positively affected by reform.

Notes to the editors

In April 20205, the EBA formally received a Call for Advice from the EU Commission to benchmarking national loan enforcement frameworks across individual EU Member States. However, the work started already in 2023 on the basis of a draft Call for Advice that allowed the EBA to start the data work.

Contrary to the 2020 Report, for the current analysis, the EBA requested an extraction of the Eurosystem Analytical Credit Dataset (“AnaCredit”), which contains detailed information on individual bank loans in the euro area submitted using a harmonised reporting format across all Euro-Area Member States. The request was formally approved by the ECB Governing Council in March 2023. To address all the points raised in the Commission’s Call for Advice, a complementary data collection was required, and for non-Euro Area banks, a dedicated data collection was conducted.

For anonymity and confidentiality reasons, the information presented in the Report is in aggregate form, such that individual reporting agents or other counterparties cannot be identified, neither directly nor indirectly.

Source: European Parliament 2

Geopolitical tensions have emerged as a major source of macro-financial instability, with conflicts, sanctions, and global rivalries introducing risks that differ from traditional credit or market shocks. These events are difficult to anticipate and propagate through financial markets, the real economy, and operational channels, often amplifying into systemic consequences. Recent research shows that banks reallocate rather than withdraw—cutting cross-border lending but maintaining affiliate activity—while capital requirements calculated at consolidated level may transmit foreign shocks to domestic credit supply. Stronger capital buffers cushion these effects. Overall, major geopolitical shocks raise funding costs, weaken bank stability, and disrupt financial infrastructure, underscoring the need for robust governance, releasable buffers, scenario-based supervision, more coordinated micro and macro prudential regulation, and overall strengthened international coordination.

Source: European Parliament 2

This study quantifies the impact of geopolitical risk on euro area banks using the 2025 EU-wide stress test, the first to include an explicit geopolitical scenario. Comparing outcomes with earlier stress tests, we find that geopolitical shocks measurably erode capital ratios, with smaller and less diversified banks most affected and considerable heterogeneity across countries. The results highlight how stress testing can capture structural vulnerabilities and inform supervisory responses through Pillar 2 requirements and Systemic Risk Buffers within the Banking Union framework.