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Ukraine Must Remain A Top Priority, Cyprus Finance Minister Tells Ecofin

by THEFUTURE.TEAM

July 17, 2024

In a recent address to the Economic and Financial Affairs Council of the European Union (Ecofin), Cyprus’s Finance Minister Makis Keravnos emphasised the critical importance of maintaining robust support for Ukraine amidst ongoing Russian aggression. Speaking in Brussels on 16 July 2024, Keravnos underscored Cyprus’s unique perspective as a nation enduring prolonged occupation, drawing parallels to Ukraine’s plight.

Cyprus’s Endorsement of Continued Support

Keravnos reiterated the necessity for the European Union to prioritise assistance to Ukraine, a stance shared by his counterparts. This unwavering support is vital for countering the persistent threats posed by Russia and ensuring Ukraine’s resilience and stability.

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Hungarian Presidency’s Economic Priorities

The meeting also featured discussions led by the Hungarian Presidency, which outlined its economic and financial objectives until December 2024. These priorities include implementing a new economic governance framework, enhancing competitiveness, and advancing both the Capital Markets Union and the Banking Union. Keravnos expressed Cyprus’s commitment to cooperating constructively with these initiatives.

Recovery and Resilience Mechanism

A significant portion of the meeting was dedicated to approving amendments to the national recovery and resilience plans of several member states, including Cyprus. These modifications are essential for the continued implementation of the Recovery and Resilience Mechanism, a critical component of the EU’s strategy to bolster economic recovery post-pandemic.

Fiscal Policy and Economic Governance

During the Eurogroup meeting on 15 July, Keravnos and his colleagues adopted a joint communiqué on fiscal policy guidelines for 2025. The guidelines emphasise the need for a gradual and sustainable consolidation of public finances, highlighting the importance of reducing budget deficits and public debt. Keravnos stressed the need for prudent fiscal policies that consider current economic conditions and maintain investment levels to safeguard growth prospects.

Structural Reforms and Investment

Keravnos highlighted the importance of structural reforms and investments to improve the eurozone’s competitiveness. He acknowledged the new economic governance framework’s potential in achieving fiscal objectives by 2025, while also expressing concerns about maintaining investment levels after the Recovery and Resilience Mechanism ends in 2026.

Donatella Versace Steps Down After 30 Years At The Helm of Fashion Empire

by THEFUTURE.TEAM

March 14, 2025

After nearly three decades steering the iconic Versace brand, Donatella Versace is stepping down from her role as head of the fashion house. The 69-year-old Italian designer, who inherited the reins from her late brother, Gianni, following his tragic murder in 1997, will remain with the company as its Chief Brand Ambassador. She is set to pass the creative torch to Dario Vitale, the former design and image director of Miu Miu, who will take on the position of Chief Creative Officer.

In her Instagram announcement, Donatella shared her thoughts: “Championing the next generation of designers has always been important to me,” she wrote, expressing her excitement for Vitale’s appointment. “I am thrilled that Dario Vitale will be joining us, and I am eager to see Versace through new eyes.”

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While her new role shifts focus, Donatella’s deep connection to Versace remains unchanged. “Versace is in my DNA and always in my heart,” she declared. Donatella’s stewardship has firmly cemented the brand as a staple in the luxury fashion industry, with designs worn by global superstars like Dua Lipa, Angelina Jolie, and Sabrina Carpenter.

In a heartfelt reflection, Donatella expressed her gratitude: “It has been the greatest honour of my life to carry on my brother Gianni’s legacy. He was the true genius, but I hope I have some of his spirit and tenacity.” Despite her transition, she reaffirmed her commitment to the brand’s future, adding: “I will remain Versace’s most passionate supporter.”

The announcement was met with a wave of tributes from the fashion world. Celebrities like actor Damian Hurley, singer Sabrina Carpenter, and model Iris Law shared their admiration for the designer’s contribution to the industry. “We love you forever,” Hurley commented, while Carpenter called her “one and only,” and Law posted, “Love you so much.”

This shake-up in leadership comes as speculation mounts that Prada Group may be eyeing a potential acquisition of Versace from its current owner, Capri Holdings, which purchased the luxury brand for €2 billion in 2018. As Donatella steps into her new role, the future of Versace remains closely watched by both fans and industry insiders.