Can a correction fix Australia’s housing market?
6/11/202610 min
France and Germany are discussing proposals for a radical overhaul of the EU’s 15-year-old diplomatic service, and the most recent US inflation report is putting pressure on President Donald Trump to extend the ceasefire with Iran. Plus, can Australia fix its housing crisis?
Mentioned in this podcast:
EU countries weigh ‘tearing apart’ bloc’s diplomatic service
US and Iran exchange strikes after downing of American helicopter
Donald Trump suggests he may not renew trade deal with Mexico and Canada
Australia tries to fix its housing crisis. Will it work?
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The FT News Briefing is produced by Victoria Craig, Sonja Hutson, Saffeya Ahmed, Katya Kumkova, and Fiona Symon. Our editor is Marc Filippino. Our show was mixed by Kelly Garry. Additional help from Gavin Kallmann, Michael Lello and David da Silva. Our intern is Cole van Miltenburg. Our executive producer is Topher Forhecz. Flo Phillips is the FT’s global head of audio. The show’s theme music is by Metaphor Music.
Read a transcript of this episode on FT.com
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Transcript preview
First 90 secondsMark Filippino· Host0:00
What are you up to on June 20th? Well, if you're in New York City, the FT is hosting its weekend festival. See big names like John Lithgow and a live taping of the FT's Unhedged podcast with Katie Martin and Rob Armstrong. If this sounds like a good time, take a peek at our show notes. We'll have a link there where you can register. [upbeat music] Good morning from the Financial Times. Today is Thursday, June 11th, and this is your FT news briefing. The EU's foreign service might look pretty different soon, and rising inflation is pressuring the White House to strike a deal with Iran. Plus, we'll take a look at Australia's unorthodox plan to fix its housing crisis. I'm Mark Filippino, and here's the news you need to start your day. [upbeat music] France and Germany are talking about a radical overhaul of the EU's foreign service. That's according to five senior officials briefed on the discussions. It would involve taking powers away from the bloc's chief diplomat, Kaja Kallas, and her agency. And as a result, the European Commission and member states would have more control over the bloc's diplomacy. The EU has faced a ton of diplomatic challenges in the past few years, from the conflicts in Ukraine and Iran to US President Donald Trump's trade war, and some have questioned whether the EU's diplomatic agency is up to the task. The officials said several countries have argued that there is too much overlap, plus a lack of coordination between the agency,