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Top European CEOs Urge Two-Year Delay in AI Act Implementation

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More than 40 CEOs from major European companies, including tech giants ASML, Siemens, Philips, and French AI firm Mistral, have called on the European Commission to delay key provisions of the EU’s AI Act by two years. The appeal, made in a joint letter to Commission President Ursula von der Leyen and made public on Thursday, reflects growing industry concern over the tight timeframe for compliance with new AI regulations.

The AI Act, a landmark piece of legislation aimed at regulating artificial intelligence based on the risks it poses to society, formally entered into force in August 2024. However, its key obligations for high-risk systems and general-purpose AI (GPAI) models are set to be phased in between August 2025 and August 2026, with full implementation by 2027.

The signatories are urging a “two-year clock-stop” on the obligations concerning high-risk AI systems and GPAI models, citing the need for a more manageable and business-friendly rollout. They argue that a pause would allow for “reasonable implementation by companies and further simplification of the new rules.”

“This postponement, coupled with a commitment to prioritise regulatory quality over speed, would send innovators and investors around the world a strong signal that Europe is serious about its simplification and competitiveness agenda,” the letter states.

Their call comes as the European Commission prepares to release a voluntary “Code of Practice” for GPAI providers—such as those behind platforms like ChatGPT and Google’s Gemini—which aims to help companies align with the AI Act ahead of the mandatory deadlines. However, with just weeks to go before the August 2 start date, the code has yet to be published, raising concerns among tech firms about how to prepare.

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Some companies, including Google, have reportedly requested a grace period to comply with the new voluntary standards. European Commission spokesperson Thomas Regnier confirmed that discussions are ongoing, with an end-of-2025 implementation timeline under consideration—well ahead of the binding deadlines in 2026 and 2027.

Criticism of the AI Act has been mounting since Commission-appointed experts began drafting the Code of Practice in late 2024. Several major technology firms, publishers, and rights holders have expressed concerns that the framework may infringe on EU copyright laws and stifle innovation in the bloc.

As the Commission faces increasing pressure to balance regulatory ambition with market competitiveness, the debate over the AI Act’s rollout continues to intensify.

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Corruption in Western Europe Remains Under the Radar Despite Public Perception

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Petty bribery may be rarer in Western Europe, but influence, lobbying, and regulatory capture continue to wield significant power, often going under the radar, experts say. While public discourse frequently frames corruption as a problem concentrated in Eastern Europe or developing countries, research increasingly challenges this view, highlighting systemic risks across the continent.

“In the academic and scholarly debate, the assumption that corruption is exclusive to Eastern European or developing countries is long gone,” Mihály Fazekas, director of the Government Transparency Institute and professor at Central European University, told Euronews.

Concerns over corruption have become particularly sensitive in the context of Ukraine. As Kyiv seeks continued financial and military backing from EU partners, some politicians in Western Europe have raised corruption-related objections. Hungarian Foreign Minister Péter Szijjártó has called for EU support to Ukraine to be halted, citing reports of fund misuse and accusing Kyiv of operating a “war mafia” that diverts Western funds.

Political narratives in parts of Western Europe often depict corruption as limited or exceptional, even as high-profile cases surface in countries like France, Germany, and the UK. However, public opinion appears more sceptical. Surveys indicate that while corruption is viewed as less prevalent in Denmark or Sweden, citizens in many core EU states see it as a significant concern. The European Commission’s 2024 Eurobarometer found that 61% of Europeans consider corruption unacceptable, and 68% believe it is widespread in their own country. About 27% reported feeling personally affected in daily life.

Experts note that the forms of corruption differ. In Western Europe, it often involves political financing, lobbying, procurement practices, and regulatory capture, rather than the visible bribery sometimes associated with Eastern Europe. Informal networks exist in both regions but operate differently. In Eastern Europe, gaps in institutional oversight after transitions from centralized governance have allowed informal networks to influence state institutions directly. In Western Europe, similar networks operate through law firms, consultancies, and structured political finance channels.

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The Corporate Europe Observatory estimated that at least 62 corporations and trade associations spent a combined €343 million on EU lobbying in 2024, a rise of roughly a third since 2020. Petty bribery, by contrast, is far less common in Western Europe, contributing to a perception that the region is relatively “clean,” even as high-level corruption continues largely unnoticed.

Recent cases illustrate these differences. Former EU foreign policy chief Federica Mogherini was arrested over alleged procurement fraud, while French politician Marine Le Pen was convicted of embezzling EU parliamentary funds, receiving a four-year prison sentence and a five-year ban from public office. Both cases have generated debate over political motives versus enforcement.

Fazekas said the challenge lies in distinguishing rhetoric from action. “Corruption is implicitly hidden, and it’s not always obvious who is serious about fighting it. The major challenge is seeing concrete actions as opposed to just rhetoric,” he said.

The ongoing contrast between public perception and structural realities suggests that corruption in Western Europe remains influential, even when it is less visible, and continues to shape debates on governance, oversight, and international aid.

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Crypto Ownership Rises Across Europe Despite Volatile 2025

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Crypto assets faced a turbulent year in 2025, with a sharp market sell-off in October triggered by US President Donald Trump’s threat of new tariffs on China. Despite volatility, European interest in cryptocurrencies continues to grow, with ownership rates rising across the continent.

According to the ‘Web3 Industry in France and Europe’ report by Adan, more than 90 percent of adults in major European economies are aware of crypto assets. Data from the European Central Bank shows that nine percent of eurozone adults held crypto in 2024, up from four percent in 2022. Ownership varies across countries, ranging from six percent in the Netherlands and Germany to 15 percent in Slovenia. Greece, Ireland, Croatia, Cyprus, Lithuania, and Austria follow closely, reflecting modest differences among nations.

James Sullivan, chief risk and compliance officer at BCB Group, said ownership patterns are shaped by digital adoption, investor risk appetite, and local market conditions. “Countries with strong financial innovation and a younger, predominantly male investor base tend to lead,” he told Euronews Business. Regulatory and economic factors also play a role. In markets with limited traditional investment options, crypto is often used speculatively, while awareness campaigns, like those in Italy, can boost adoption.

The UK, though not part of the eurozone, shows strong crypto activity, ranking third globally in transaction volumes behind the US and India as of 2024.

Across the eurozone, ownership more than doubled between 2022 and 2024. Greece and Lithuania recorded the largest increases, rising by ten percentage points, while Cyprus, Belgium, Ireland, Austria, Slovakia, Slovenia, Portugal, and Italy also saw gains of seven points or more. The Netherlands remained stable, while data for Croatia in 2022 is unavailable. Sullivan said this trend reflects growing consumer confidence, supported by global market momentum and the European Union’s Markets in Crypto-Assets (MiCA) regulation.

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MiCA establishes uniform rules for crypto assets, providing regulatory clarity and consumer protection. Sullivan said the framework signals mainstream recognition of crypto, encouraging cautious investors to enter the market.

Investment remains the primary use for crypto. In the eurozone, 64 percent of holders use it for investment, while 16 percent use it for payments, and 19 percent for both. The Netherlands and Germany show the highest focus on investment despite lower overall ownership, while France has the largest share of users leveraging crypto for payments at 25 percent.

Sullivan noted that most European consumers still use crypto primarily for speculation rather than daily transactions. While stablecoins could offer practical payment solutions, their adoption remains limited compared with traditional methods such as cards and cash. He added that the long-term success of crypto as a transactional tool will depend on MiCA’s effectiveness in regulating euro-denominated stablecoins and integrating them into existing payment systems.

Despite 2025’s volatility, the rise in ownership indicates that European retail interest in crypto remains strong, with regulation and market momentum supporting continued growth.

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Crypto Ownership Rising Across Europe Despite Market Volatility

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Cryptocurrencies have experienced a turbulent 2025, including a sharp sell-off in October following US President Donald Trump’s threat of new tariffs on China. Despite these fluctuations, crypto ownership continues to grow across Europe, according to recent reports.

The ‘Web3 Industry in France and Europe’ report by Adan, using data from early 2025, found that more than 90 percent of adults in major European economies are aware of crypto-assets. Ownership of these digital assets, though still limited, has been steadily increasing.

Data from a European Central Bank survey shows that in 2024, nine percent of adults in the eurozone held crypto-assets. Ownership varies across countries, ranging from six percent in the Netherlands and Germany to 15 percent in Slovenia. Other nations with above-average adoption include Greece, Ireland, Croatia, Cyprus, Lithuania, and Austria.

Experts attribute these differences to factors such as digital adoption, risk appetite, and local market conditions. James Sullivan, chief risk and compliance officer at BCB Group, told Euronews Business that countries with younger, more digitally-savvy investors and higher levels of financial innovation tend to have higher ownership rates. Local regulatory frameworks and economic conditions also play a role. In markets with limited traditional investment options, crypto may be used more speculatively, while awareness campaigns, like those conducted in Italy, boost adoption.

The UK, though not part of the eurozone, ranks third globally in transaction volumes behind the US and India, reflecting continued strong consumer activity.

Ownership of crypto-assets across the eurozone more than doubled between 2022 and 2024, rising from four percent to nine percent. Greece and Lithuania saw the largest increases, each climbing by ten percentage points, while Cyprus, Belgium, Ireland, Austria, Slovakia, Slovenia, Portugal, and Italy saw gains of seven points or more. The Netherlands was the only country where the rate remained unchanged.

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Sullivan highlighted that growing European interest in crypto reflects renewed confidence following previous market downturns. The introduction of the Markets in Crypto-Assets (MiCA) regulation, which sets uniform EU rules for previously unregulated crypto assets, has contributed to trust and encouraged new investors.

The majority of crypto holders use these assets primarily as an investment. In the eurozone, 64 percent of users cited investment as their main purpose, 16 percent for payments, and 19 percent for both. The Netherlands and Germany, despite relatively low ownership rates, had the highest shares of investment-focused users at 90 and 82 percent, respectively. France reported the highest use for payments at 25 percent.

Sullivan noted that while cryptocurrencies, particularly stablecoins, have transactional potential, day-to-day use remains limited. He said broader adoption for payments will depend on MiCA’s success in regulating stablecoins and integrating them into existing payment systems, a key focus for the European Central Bank.

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