New York City was swept into celebration on Saturday as the New York Knicks ended a 53-year championship drought, defeating the San Antonio Spurs in Texas to secure the NBA Finals title and sparking jubilant scenes across Manhattan.

Thousands of fans had already begun gathering earlier in the week, with a major victory parade held through the streets of lower Manhattan on Thursday. The city turned into a wave of blue and orange as supporters packed the streets to honour the team’s long-awaited triumph.

Chants of “Let’s go Knicks” echoed through dense crowds, many of whom had waited hours—some even paying for professional line sitters—to secure prime viewing spots along the parade route.

For longtime supporters, the victory marked more than a sporting achievement. “The Knicks unite the city unlike any other team. We were starved for so long,” said 29-year-old retail worker Anthony Martorelli, reflecting on decades of frustration finally lifted.

Security was heightened across the city, with around 10,000 New York Police Department officers deployed for the parade, marking the largest planned security operation in the department’s history. Viewing areas filled hours before the procession began, forcing late arrivals to search for alternative vantage points.

In one instance, fans climbed onto a city dump truck positioned as part of the security setup to get a better view of the players and the championship trophy. Amid the celebrations, a couple in wedding attire moved through the crowds, planning to hold their ceremony later in the day.

The parade route stretched from Bowling Green to City Hall along the famed “Canyon of Heroes,” where the team was showered with 1.1 tonnes of recycled confetti as part of New York’s historic ticker-tape tradition dating back to the late 1800s.

At City Hall, the Knicks were formally honoured as city officials presented them with the symbolic key to New York. Grammy-winning artist Alicia Keys performed “Empire State of Mind,” adding to the celebratory atmosphere.

Mayor Zohran Mamdani praised the moment as a rare display of unity in the city. “What a gift it is to be brought together by pure, unfiltered joy,” he said, noting how the victory had brought residents together in shared celebration.

Knicks star Jalen Brunson, named Most Valuable Player of the 2026 NBA Finals, thanked fans for their unwavering support throughout the championship run. “Somehow, some way, I knew we were going to find a way to get this done,” he said.

For many residents, the victory carried deep personal meaning. Some recalled the team’s last championship in 1973, while others reflected on decades of loyalty through losing seasons.

“I was nine when they last won,” said retiree James Smallwood. “I remember the excitement. I’m a five-time cancer survivor, so seeing this means everything.”

Despite traffic disruptions and street closures across Manhattan, many fans said the celebrations were worth the inconvenience, calling the victory a historic moment in the city’s sporting history.

The European Union has launched a €15–20 billion Global Green Bond Initiative aimed at financing sustainable infrastructure projects in partner countries, but concerns are mounting in Brussels that a significant portion of the funding could end up supporting Chinese clean technology suppliers.

The programme, one of the EU’s largest external climate financing tools, is intended to mobilise investment for renewable energy, water treatment and transport projects across developing regions. Planned projects include solar farms in Algeria, wastewater systems in India and light rail infrastructure in the Dominican Republic, with the European Investment Bank (EIB) acting as a key anchor investor alongside other European development institutions.

However, EU officials warn that the structure of the initiative could unintentionally strengthen Chinese dominance in the global renewable technology market. A Commission official familiar with the matter said most of the allocated funds are likely to flow toward Chinese manufacturers, particularly in sectors such as solar energy components.

Of particular concern are high-risk power inverters used in solar installations. These devices, many of which are produced by Chinese companies including Huawei-linked suppliers, are increasingly being scrutinised by Brussels due to potential cybersecurity vulnerabilities. Officials fear they could allow remote interference with energy systems, posing risks to grid stability in third countries connected to European energy networks.

The European Commission recently issued guidance calling for the gradual removal of such high-risk inverters from EU-funded renewable projects. However, the directive applies primarily to projects outside the EU from 2027 onwards, leaving a gap between policy ambition and current investment frameworks.

The Green Bond Initiative, approved before the cybersecurity guidance was finalised, contains no requirement for partner countries to avoid Chinese suppliers. This absence of procurement conditions has raised concerns that EU-backed financing may indirectly reinforce dependency on Chinese technology at a time when Brussels is trying to diversify critical supply chains.

A second EU official said projects funded under the scheme risk increasing exposure to Chinese influence in regions such as North Africa, which is expected to receive a large share of early investments. The Mediterranean is considered strategically sensitive due to its proximity to European energy infrastructure.

Efforts by the Commission to push European development banks, including the EIB, to apply stricter exclusion rules have met resistance. Financial institutions argue that project viability and cost efficiency must remain central, while Brussels insists that geopolitical risk and cybersecurity concerns can no longer be ignored.

The debate has also exposed a broader policy gap between the EU’s economic security strategy and its external investment tools, many of which were designed before recent shifts in global trade and technology competition.

The Commission is expected to press fund managers, including Amundi, to reassess procurement frameworks. However, officials acknowledge that many projects were already structured without restrictions on suppliers, limiting room for immediate changes.

With no formal exclusion mechanism in place, disagreements between EU institutions are likely to continue as the initiative moves into implementation, highlighting the tension between climate investment goals and efforts to reduce strategic dependence on China.