Josep Borrell told the Munich Security Conference on Sunday of the 'need to promote a political solution' in the Middle East. AFP
Josep Borrell told the Munich Security Conference on Sunday of the 'need to promote a political solution' in the Middle East. AFP
Josep Borrell told the Munich Security Conference on Sunday of the 'need to promote a political solution' in the Middle East. AFP
Josep Borrell told the Munich Security Conference on Sunday of the 'need to promote a political solution' in the Middle East. AFP

EU's Borrell calls for two-state solution through support for an Arab plan


Damien McElroy
  • English
  • Arabic

Live updates: Follow the latest on Israel-Gaza

Josep Borrell, the EU foreign affairs representative, on Sunday called for a joint initiative with Arab countries to promote a two-state solution after the Gaza-Israel war has ended.

Mr Borrell said the EU needed to "support the Arab initiative" to establish a Palestinian state, including the West Bank and Gaza. "

We have been discussing [this] a lot with Arabs and we wait for a proposal from their side that, we Europeans, could support in order to make the two-state solution something implementable," he told the Munich Security Conference.

Mr Borrell spoke as Israeli Prime Minister Benjamin Netanyahu rejected a proposal for international recognition of such a state. US reports said President Joe Biden's administration and a small group of Arab nations were working on a comprehensive plan for long-term peace between Israel and the Palestinians.

Since the start of the war on October 7, the number of clashes between Israeli forces and Palestinians in the West Bank has increased and Mr Borrell said the collapse of the refugee agency UNRWA would have bleak consequences.

Latvia's Prime Minister Evika Silina and Josep Borrell take part in a panel discussion at the Munich Security Conference. AFP
Latvia's Prime Minister Evika Silina and Josep Borrell take part in a panel discussion at the Munich Security Conference. AFP

"We need to promote a political solution," Mr Borrell said. "A comprehensive one, which includes not only Gaza but also the West Bank.

"The West Bank is boiling. The level of violence against the Palestinians has been increasing since October 7. It was already very high before that.

"And if now UNRWA has to stop supporting the Palestinian people in the West Bank, we could be on the eve of a greater explosion."

Looking to the European record of rallying behind Ukraine when it was invaded two years ago, Mr Borrell said a similar spirit was needed on the issue of peace in Gaza.

"If we want to play a geopolitical role in this issue, we have to be more united, as we have been in the case of Ukraine, where with maybe the exception of a single country our unity has been remarkable," he said. "But here I see that there is a dispersion of approaches and many member states want to play own game."

Without hope of a state of their own, the Palestinians would be consigned to a cycle of failure and instability that would be perpetuated, he said.

"Without a clear prospect for the Palestinian people, [there] will not be peace in the Middle East and the security of Israel will not be ensured just by military means," he said.

As a wake-up call, Mr Borrell said every European needed to realise they were in a war situation and back the bloc to step up and play its geopolitical role. The divide between Europeans and the developing world has been widened by the Gaza conflict and he warned against a world of us and them. "We are accused of double standards, the wind is against us."

Labouring on a ceasefire

Also in Munich, the British Labour Party foreign affairs representative David Lammy acknowledged the pressure on the party to strengthen its stance on a ceasefire. “You can have a ceasefire that lasts for a few days," he told UK radio from Munich. "We want the ceasefire to last and to be permanent and to move towards the diplomatic solution. It will only be a political solution that brings an end to this.

“We all want to see an end to the fighting, it must stop.”

Keir Starmer, the party leader, met Antony Blinken, the US Secretary of State, Ursula von der Leyen, the European Commission President, and a host of other leaders at the weekend. He also refused to commit to a call for an immediate ceasefire. "What we all want to see [is] an end to the fighting, not just now, not just for a pause, but permanently. A ceasefire that lasts, that is what must happen now."

Farage on Muslim Brotherhood

Nigel Farage told Reform's annual conference that the party will proscribe the Muslim Brotherhood if he becomes Prime Minister.
"We will stop dangerous organisations with links to terrorism operating in our country," he said. "Quite why we've been so gutless about this – both Labour and Conservative – I don't know.
“All across the Middle East, countries have banned and proscribed the Muslim Brotherhood as a dangerous organisation. We will do the very same.”
It is 10 years since a ground-breaking report into the Muslim Brotherhood by Sir John Jenkins.
Among the former diplomat's findings was an assessment that “the use of extreme violence in the pursuit of the perfect Islamic society” has “never been institutionally disowned” by the movement.
The prime minister at the time, David Cameron, who commissioned the report, said membership or association with the Muslim Brotherhood was a "possible indicator of extremism" but it would not be banned.

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Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory

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• Founded in 2014, Telr is a payment aggregator and gateway with an office in Silicon Oasis. It’s e-commerce entry plan costs Dh349 monthly (plus VAT). QR codes direct customers to an online payment page and merchants can generate payments through messaging apps.

• Business Bay’s Pallapay claims 40,000-plus active merchants who can invoice customers and receive payment by card. Fees range from 1.99 per cent plus Dh1 per transaction depending on payment method and location, such as online or via UAE mobile.

• Tap started in May 2013 in Kuwait, allowing Middle East businesses to bill, accept, receive and make payments online “easier, faster and smoother” via goSell and goCollect. It supports more than 10,000 merchants. Monthly fees range from US$65-100, plus card charges of 2.75-3.75 per cent and Dh1.2 per sale.

2checkout’s “all-in-one payment gateway and merchant account” accepts payments in 200-plus markets for 2.4-3.9 per cent, plus a Dh1.2-Dh1.8 currency conversion charge. The US provider processes online shop and mobile transactions and has 17,000-plus active digital commerce users.

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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3. Oleksiy Prygorov (UKR) 392.30

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A widely accepted definition was made by the All Party Parliamentary Group on British Muslims in 2019: “Islamophobia is rooted in racism and is a type of racism that targets expressions of Muslimness or perceived Muslimness.” It further defines it as “inciting hatred or violence against Muslims”.

Conservative MPs who have publicly revealed sending letters of no confidence
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  2. Peter Bone
  3. Ben Bradley
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  5. Maria Caulfield​​​​​​​
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  10. Mark Francois 
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Updated: February 19, 2024, 3:55 AM