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00:00The German government collapses after budget disputes lead to the finance minister Lindner's

00:07dismissal.

00:12Vice President Kamala Harris concedes the election to Donald Trump.

00:25The German traffic coalition has officially failed.

00:28Chancellor Olaf Scholz announced on Wednesday that he has fired finance minister Christian

00:33Lindner.

00:34Inter-party fighting has escalated over the past three years, with the rift becoming irreparable

00:40during the 2025 household budget discussions.

01:11Scholz has said he will put a vote of confidence to the German parliament in January and if

01:17he loses then early elections could be held as early as March next year.

01:23The dramatic break-up comes just hours after the US elected President Donald Trump for

01:28a second time that is expected to increase pressure on the EU and Germany in particular.

01:36German President Steinmeier is expected to deliver a statement on Thursday morning.

01:41Liv Stroud, in Berlin, for Euronews.

01:48Dozens of European leaders have arrived in Budapest for a meeting of the European political

01:53community on Thursday, followed by an informal EU summit on Friday.

01:59The bi-annual meeting will focus on a number of global and continental issues, including

02:04European security challenges, Russia's war in Ukraine, conflict in the Middle East and

02:09illegal migration.

02:11The summit comes in the wake of Donald Trump's victory in the US election, a geopolitical

02:17development that could have far-reaching consequences across the continent.

02:22During his campaign, Trump threatened a trade war with Europe and a US withdrawal from NATO

02:28commitments.

02:29Of highest concern, however, is Trump's position on Russia's war in Ukraine.

02:34The president-elect has vowed to end the war within 24 hours of being elected, raising

02:40fears that he may reduce or cut off financial and military assistance to the war-torn country.

02:49Trump's views on Ukraine are shared by Hungarian Prime Minister Viktor Orban, who is set to

02:54host a dinner after the EP summit as the current holder of the bloc's rotating presidency.

03:01Orban was the first European leader to congratulate Trump, who he believes will be an ally in

03:06his government's efforts to resist European policies on Ukraine.

03:11There are fears among some officials that Orban might invite Trump to join the dinner

03:15via a video call.

03:18So what we can expect now is that he will channel Donald Trump into European politics

03:24and also into the European political community, and his message is going to be that I am the

03:34one who can mediate between you guys and Donald Trump, and no question that he will be perceived

03:45by many and already perceived by many for good reasons as someone who can be a gatekeeper

03:51to Donald Trump.

03:55And for the EU, where populist and hard-right forces have already put a strain on the political

04:00establishment, Trump's election will only embolden them further.

04:07Two candidates with very different views competed for support.

04:13The U.S. ambassador to Hungary said that the Hungarian government gambled with U.S.-Hungary

04:18relations as he responded to the outcome of the U.S. presidential election.

04:25David Pressman said that the damage caused runs deeper than the four-year term of a president.

04:32Prime Minister Orban treated this election like a card game at a casino, and he placed

04:39a very big bet.

04:42Whether he believes that he won or lost this hand, he was gambling not with money, but

04:50with the U.S.-Hungary relationship, a relationship that has been altered by his gamesmanship.

04:58Pressman spoke as Donald Trump, the Republican presidential candidate which has been openly

05:02backed by the Hungarian government, won the 2024 U.S. presidential election.

05:10He concluded his speech by saying that democracy survives when people and their leaders value

05:15and defend it, and the same applies to the alliance between the U.S. and Hungary.

05:28Vice President Kamala Harris has conceded the presidential election to Donald Trump.

05:34As she addressed the American public on Wednesday, she encouraged supporters to continue fighting

05:39for their vision of the country.

05:42I know many people feel like we are entering a dark time, but for the benefit of us all,

05:50I hope that is not the case.

05:53But here's the thing.

05:54America, if it is, let us fill the sky with the light of a brilliant, brilliant billion

06:02of stars, the light, the light of optimism, of faith, of truth and service.

06:20Harris said she called Trump on Wednesday afternoon to congratulate him on his victory.

06:26Following a tight race, Harris lost the electoral vote to Trump in every battleground state,

06:31a profound rejection by American voters.

06:46If Donald Trump does what he promised during the electoral campaign, EU economic growth

06:51could be seriously undermined.

06:54The President-elect repeatedly stated his intention to impose a 10% tariff on European

06:59products.

07:00And one of the worst-hit sectors would be the automotive industry, in particular the

07:04German one.

07:06The Association of the German Automotive Industry says everything must be done to ensure that

07:11new US tariffs are not imposed.

07:16I think that both sides need to talk to prevent this.

07:20If it happens, we both know what will happen next, then the European Union will probably

07:26have some measurements already ready and that will be another start of, well, a trade

07:33conflict or something in that direction.

07:35And that is not what we need.

07:38Europe and the US need to understand now that looking at all the geopolitical challenges

07:43that we need to work together and that geopolitics and economics needs to be thought together.

07:50The situation for the automotive industry in Germany is already difficult, with Volkswagen

07:55recently announcing the closure of three plants.

07:58A recent study found that 168,000 jobs could be lost over the next decade as the industry

08:05switches to EV production.

08:09The other most affected sector would be the steel industry.

08:12The US and Europe still haven't fully resolved the issue of tariffs imposed by the previous

08:17Trump administration.

08:20They have already caused a noticeable slump in exports.

08:24According to the European Steel Association, further lengthy and complex negotiations lie

08:29ahead.

08:30There was found a kind of way forward between Joe Biden and the European Commission, Miss

08:38von der Leyen, to address the trade conflict concerning steel with a global arrangement

08:47on sustainable steel and aluminium.

08:51The negotiations had been stalled since the election campaigns in the US started.

08:59And we have of course hoped, and we still hope, that the negotiations can continue now

09:05after the elections to find a solution.

09:08Because otherwise we will fall back into the tough 25% tariffs on European steel.

09:19The association also underlines the need for the new US president to be persuaded of

09:25the climate goals.

09:26Not least for his own country's industry, as steel and aluminium production is one of

09:31the biggest carbon emitters.

09:37Thousands of travel representatives have landed in London for the World Travel Market trade

09:42event as new data shows global tourism is now breaking pre-pandemic records.

09:49But where does that leave pledges to ease overcrowding and to deliver on sustainability?

09:55Actually, this overtourism rhetoric is like on the edge of being real or not.

10:01Because it's not over a long period of time.

10:05We have phenomena like this when cruises, for instance, visit small islands that cannot

10:12handle too many tourists at the same time.

10:16We think it's an issue of infrastructure and management at a local level that makes

10:22the difference.

10:24With sustainability, the travel sector says, is not just working to be net zero, but also

10:29striving for net positive.

10:32This amid mounting climate change concerns and extreme weather events impacting the sector.

10:39The stats say that people are acutely aware of the impact on the environment and many

10:43of them are eager to go to destinations that have a lower carbon footprint.

10:47I think there's a bigger impact as well on the weather and how that's changing people's

10:52travel choices.

10:54With the tourism bounce back, there's also been pushback from communities.

10:59Some European destinations have seen anti-tourism protests amid concerns over things like environmental

11:05damage and high rental prices.

11:08In Croatia, short-term rentals are now changing.

11:13We are passing the law in which we are requiring 80% approval of the tenants in the buildings

11:19when short-term rentals are possible.

11:21We will have a situation in which we have our apartments and residential areas, I'm

11:27not going to say free from tourists, but with a significant reduced number of tourists.

11:32For the global travel and tourism sector, the pressure is now on to prove that it can

11:37be a force for good.

11:39Damon Embling, Euronews, London.

11:43www.euronews.co.uk

Latest news bulletin | November 7th – Midday

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