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European Commission representative Thierry Breton announced possible mandatory labeling of all artificial intelligence content. On June 5, he shared the news 

 with the LCI TV channel. No official statement has yet been made by the European Commission itself. However, this result is widely expected given the increasing presence of technology in everyday life.

Not so long ago, Breton got into a confrontation with OpenAI CEO Sam Altman. European Commissioner accused Altman of extortion after he said that ChatGPT could leave the European market if the regulation rules were too strict. Altman, touring Europe at the time, replied that the company 

 and that negotiations on the structure and regulation of the neural networks are most encouraging. 

 in June to discuss the AI pact and new AI rules ahead of their enforcement in 2026.

Earlier in May, members of the European Parliament discussed 

 to introduce a human oversight function among neural networks content. They also proposed to restrict the use of AI in vital and high-risk industries. This will ensure that decisions made by AI systems are consistent with European values and benefit society at large.

Artificial Intelligence situation in Luxembourg

In recent years Luxembourg has experienced a surge in startups, especially in the field of AI. Since then the government has adopted a cautious strategy to promote the development of AI, recognizing the need for an appropriate legal framework to regulate the newly emerged area.

ChatGPT belongs to the category of generative AI. In other words, this technology can create content that is as close as possible to what a human would create. The incredible increase in users of the platform and the active development of the neural network have led the EU to complete its legislation as soon as possible. The law on neural networks is expected to be published in the near future.

«Made by AI»: Labeling AI-content might become obligatory in EU

Twitter, owned by Elon Musk, has recently made headlines by announcing its withdrawal from an agreement on an anti-disinformation EU code, creating concerns about its future in the European market. 

The code in question, an updated version of which was signed by the European Parliament in 2022, aims to combat the spread of disinformation and false news. Notably, major media giants such as Google, Twitter, TikTok, Microsoft, and Meta had previously signed onto this agreement.

This unexpected recent move by Twitter has raised eyebrows and sparked discussions about the platform's commitment to combating disinformation. If Twitter follows through with its withdrawal, it could potentially face consequences such as being blocked in the European Union.

Thierry Breton, the EU Commissioner, also responded to Twitter's decision and expressed his disappointment in a tweet. Commissioner Breton emphasized that withdrawing from the agreement would not exempt Twitter from the established practices outlined in the code. The social network would still be subject to the provisions, even if it refused to comply with the agreements, potentially leading to negative consequences for the company.

The EU's Code of Conduct on Fighting Misinformation encompasses a set of regulations aimed at curbing the spread of illegal content and tackling issues such as advertising targeted at minors. Failure to adhere to these provisions could result in substantial fines, with companies facing penalties of up to 6% of their turnover.

The implications of Twitter's withdrawal from the anti-disinformation code are significant, considering the platform's influence and reach. The move has highlighted the challenges that social media platforms face in balancing freedom of expression and combating the dissemination of false information. It also underscores the growing importance of regulations and codes of conduct in maintaining responsible online environments.

The European Union's efforts to combat misinformation and protect its citizens from the harmful effects of disinformation are part of a global trend. Governments and regulatory bodies worldwide are recognizing the need for stronger measures to address the spread of false news and its potential consequences on society.

Twitter could be banned in Europe

Expected default in the US seems to be indefinitely postponed, the second round of presidential elections is over in Turkey and Europe is debating sanctions. This week's highlights.

The US is still on the brink of default. Its reserves are running out, and with them, key financial and social institutions such as the pension fund could collapse.

But Joe Biden says the Republican Party has reached an agreement with Congress that will prevent the country from sliding into its first-ever default.

The negotiating groups should finalize the legislation and send it to the House and Senate for approval. Of course, the Senate could reject the document, but Biden urged against it.

Kevin McCarthy, the Speaker of the House of Representatives, 

. He was the one who accused Biden of inaction a few weeks ago.

The second round of elections concluded in Turkey

While the first round went relatively smoothly, none of the three candidates was able to secure the decisive 50% of the vote. The two main competitors, 

, were literally a few precious points away from an outright victory.

The opposition was confident that in the event of a second round, Kılıçdaroğlu would win the popular vote for Sinan Oğan. This will only be known after the ballots have been counted.

However, there is one circumstance that could complicate the situation. Kemal Kılıçdaroğlu broke the law by sending campaign messages to voters in one of Turkey's regions on 27 May. It is not yet known whether there will be any sanctions for such a violation. Nevertheless, it was a risky move for a potential president.

Hungary and Greece have blocked the 11th sanctions package

Talks on new restrictions on Russia have stalled after both countries categorically refused to sign the agreement. The new package of sanctions could be unprecedented: as it is not designed to squeeze Russia economically, but to prevent sanctions from being bypassed. This means that other countries that help Moscow wage war could also be sanctioned.

While Hungary has long opposed the EU on various issues, no one expected such a stance from Greece. Analysts say Hungary and Greece are using the sanctions as a political bargaining chip. 

Both countries refer to the list of "war-supporting companies" drawn up by Kyiv.

 A key demand of the states remains the exclusion of certain European companies from the list. Such a confrontation has greatly complicated the EU ministerial meeting at which the sanctions were discussed.

The two countries are now in different positions, which is worth understanding. And while Greece can be forgiven for such a protest, Hungary has long been known for its pro-Russian stance, which has often prevented the EU from adopting certain agreements. The EU's disillusionment with Hungary is growing with every meeting, and where this will lead is hard to predict.

Daria Saltykova

Highlights of the week of May 22-28

France, known for hosting the closest nuclear power plant to Luxembourg, has taken the initiative to invite ministers from 16 European Union (EU) countries to discuss coordinating the development of nuclear energy. The summit, to be held in Paris, aims to facilitate dialogue between nations and address critical issues. Defining the EU's role in achieving ambitious climate targets for 2050 will also be high on the agenda.

During the summit, each participating country will be asked to provide an update on its nuclear programme. As a leading proponent of nuclear energy, France sees the UK's presence as particularly valuable given the ongoing construction of two reactors within its borders.

Although nuclear energy remains controversial, its main advantage is its ability to provide electricity to large numbers of homes and businesses without emitting significant amounts of carbon dioxide (CO2). This attribute has become a compelling incentive for EU countries to develop peaceful nuclear energy and ultimately reduce their dependence on fossil fuels. However, it is essential to recognise and address the potential hazards associated with nuclear power plants to ensure the safety of both the environment and human populations.

One of the main concerns about nuclear power plants is the risk of accidents and the subsequent release of radiation. Although modern plants are designed with robust safety features and stringent regulations, accidents such as the Chernobyl and Fukushima disasters are a stark reminder of the potential consequences. These incidents have highlighted the importance of continuous monitoring, comprehensive safety protocols and contingency plans to mitigate the effects of such events.

Another pressing issue is nuclear waste management. Radioactive waste from nuclear power plants must be stored and disposed of safely to prevent contamination and potential long-term damage to the environment and public health. In addition, the potential for misuse of nuclear technology and materials is a global concern.

Protecting nuclear facilities against acts of terrorism or nuclear proliferation requires robust security measures, international cooperation and strong non-proliferation agreements. Close cooperation between countries is essential to combat illicit nuclear activities and ensure the peaceful use of nuclear energy.

The European Nuclear Summit will bring together ministers from different EU countries. While nuclear power offers a promising solution for CO2-free electricity generation, it is essential to address safety concerns related to accidents, nuclear waste management and prevention of misuse.

Chronicle

EU discussion on nuclear energy in Paris

The world's attention is now focused on Turkey as presidential and parliamentary elections are held there today, the outcome of which is still difficult to predict.

Turkey's current president, Recep Tayyip Erdogan, has been in power for 20 years. However, in the months since the beginning of the year, his position and influence have changed drastically. The country's opposition has united in an alliance against the ruling bloc and it looks like this decision could change the balance of power.

Kemal Kılıçdaroğlu and Sinan Oğan are Erdogan's main rivals in what has already been dubbed the most important election. The former is a member of the opposition alliance, while the latter is a nationalist politician who has collected the 100,000 signatures required by law to enter the race.

The most dangerous candidate for the incumbent ruler is Kemal Kılıçdaroğlu, who has fairly strong political support. While Erdogan's own position is gradually weakening.

Turkey has experienced a serious economic crisis for years. Inflation in the country reached 85% in 2022 and weakened only weeks before the election. The second major blow to the president's reputation was the earthquake that struck the south of the country. One of the reasons for this massive destruction and the deaths that followed is considered to be poor development, which took place precisely during Erdogan's rule.

Subsequently, people have calmed down and seemingly even regained confidence in the politician. Perhaps in the hope of promised aid for the victims. However, the election will reveal the real state of affairs. According to the preliminary results, Erdogan is in the lead. However, this could change once 100% of the votes are counted.

To win in the 1st round – more than 50% of the votes are needed. If that does not happen, politicians will face a second round, which will be held on May 28.

Operation Samudragupt, launched by the Government of India and the Indian Navy, led to the arrest of a vessel that was carrying 2.5 tonnes of methamphetamine for sale in India, Sri Lanka and the Maldives.

A shipment of banned goods originating in Afghanistan was discovered just off the coast of Kerala. A Pakistani national was aboard and was arrested on the spot. The shipment itself was pre-packed into 134 sacks. Its total value is estimated at 1.4 billion US dollars.

It was the third major drug shipment confiscated by Indian authorities in the past year and a half. A total of more than 3 tons of methamphetamine, 500 kilograms of heroin and about 529 kilograms of hashish were stopped.

Highlights of the week of May 8-14

Tomorrow, on May 11, members of the European Parliament will meet to vote on a law to control neural networks. The issue has been at the forefront of discussions in recent years, particularly due to the rapid development of artificial intelligence.

The law in question does not seek to ban neural networks altogether, but rather to introduce a human oversight function. The use of certain applications could be banned, but only if they contradict European values, such as a citizen rating system or mass surveillance.

The proposal also suggests restricting the use of AI in critical or high-risk industries. This measure would ensure that the use of AI technology is carried out with the utmost care and consideration, especially in areas where the stakes are high and human safety could be at risk.

It is important to note that while AI has the potential to revolutionise various industries, it also raises significant ethical concerns, particularly in areas such as privacy and accountability. Therefore, it is imperative that regulatory frameworks are put in place to ensure that AI is developed and deployed responsibly.

Human oversight is a crucial component of this framework, ensuring that decisions made by AI systems are in line with European values and in the best interests of society as a whole.

The upcoming vote on the Neural Networks Act is an important step towards the responsible use of AI technology in Europe. It highlights the importance of striking a balance between the benefits of AI and the need to mitigate its potential risks, while ensuring that it is consistent with the values and principles that underpin European society.

The Grand Duchy of Luxembourg has seen a proliferation of start-ups in recent years, particularly in the field of artificial intelligence (AI). However, the government has adopted a cautious approach to the development of AI, recognising the importance of implementing an appropriate legal framework to regulate its use.

Recognising the transformative potential of AI for society and the economy, the Luxembourg government has made it a priority to coordinate and take decisions from different perspectives. With a coordinated approach, the Grand Duchy aims to position itself as a leader in digital innovation and become the most advanced digital society in the near future.

Le Quotidien

Should Europe regulate neural networks?

It's been a busy and exciting week around the world. Many countries also celebrated their national holidays. These are our traditional highlights of the seven days on the world scale.

In a speech to Congress, Janet Yellen, United States Treasury Secretary, has delivered alarming and appalling news. The US has reached the limit of debt that can be used to meet its obligations.

For months now, emergency measures have been in place to address the preconditions of the crisis. However, it is not possible to maintain them further.

These measures have delayed the contributions and repayment of pension and health funds investments for public employees

. Such a decision was able to give the state enough money to maintain the necessary basic processes. Nevertheless, the possibilities of the measures are not unlimited either. Their limit will be reached as early as June this year.

Yellen called on Congress to act immediately. The speaker of the House of Representatives, Kevin McCarthy, even accused Joe Biden of inaction in the face of the country's first-ever default.

The monarch's crowning took place on 6 May. This is a significant event since the number of people unhappy with the monarchy's institution is growing.

It is a misconception that the King or Queen of the United Kingdom is devoid of any political power. The concept of "reigning but not ruling" is only partly true. For example, the monarch has every right to start a war and make peace without any parliamentary oversight. It is also the king who appoints the prime minister, signs laws, approves ambassadors and awards medals and titles.

The ruler of the British Isles has many other privileges which are not usually mentioned

, but the king's position is much stronger than it first appears.

Yet how Charles III will prove himself is difficult to say, given the public pressure. It is certain, however, that the debate on abolishing the monarchy will remain in the public eye for a long time to come.

Luxembourg-based ABH Holdings announced the sale of Alfa Bank, still the largest private bank in Russia, back in March. Now the holding company also wants to get rid of its other assets in Russia.

The attempt by businessmen Mikhail Fridman and Pyotr Aven to lift the sanctions imposed by the EU and the UK is seen as one of the main reasons for such action.

 Both left Russia immediately after the start of the war, but that did not help them avoid being listed

Complicating matters is that doing business in and out of Russia at the same time is becoming almost impossible. Therefore ABH Holdings is now working on the re-registering of all Alfa Group companies. This is a rather complicated and lengthy process with many bureaucratic obstacles.

Highlights of the week of May 1-7

Grocery prices continue to rise

Germany and Luxembourg could face labour shortages

Euro area is in a recession

MRI scans become more affordable in Luxembourg

Most Luxembourgers are satisfied with their quality of life

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