Brussels Edition
Irish voters will go to the polls in a snap general election where the housing crisis will be top of mind. Read the Brussels Edition

Welcome to the weekend issue of Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union. Join us on Saturdays for deeper dives from our bureaus across Europe.

DUBLIN — As Irish Prime Minister Simon Harris was delivering his party’s housing plan at a press conference earlier this month, the sign with his signature slogan “new energy” wobbled, fell off the lectern and crashed to the floor.

Unfazed, Harris continued with his answer on one of the most pressing issues in the election: housing.

“What I’m trying to say to people is that we have a credible way forward. We are going to do more,” he said, managing to keep a straight face.

Prime Minister Simon Harris. Photographer: Brian Lawless - PA Images/PA Images

On Friday, Irish voters will go to the polls in a snap general election where the housing crisis will be top of mind. Harris’s center-right party Fine Gael has pledged to fix it, even though it has been in government for the last decade. 

Harris, the country’s youngest prime minister at 38, says the party had to start from scratch after the global financial crash effectively put a stop to home construction for most of its tenure. And housing starts have increased since he became leader in April, albeit not by enough.

He’s had a honeymoon period with voters so far, as he pledged new ideas on immigration and delivered a giveaway budget off the back of record corporation taxes. If the polls are correct, Harris could secure his party five more years in government, probably with the support of incumbent coalition partner Fianna Fail.

Pedestrians near Ha’penny Bridge in Dublin. Photographer: Paulo Nunes dos Santos/Bloomberg

Until a few months ago, Sinn Fein, the main opposition party, and its leader Mary Lou McDonald looked like they might be able to capitalize on voter frustration over housing. The party’s far-reaching proposals proved popular with younger voters unable to get on the property ladder and polls suggested it could form a government in the republic for the first time ever.

But Sinn Fein’s support slipped after it failed to capitalize on anger over rising immigration.

The desire for the sweeping changes Sinn Fein proposed appears to have waned. With global turmoil showing no signs of abating, it looks like many voters want to stick with “new energy” instead.

Olivia Fletcher, Ireland reporter

Weekend Reads

Millionaire’s Brigade Helps Fill Ukraine Army Manpower Shortage

Members of the Khartiia Brigade carry out mortar operations at night in the northern Kharkiv region, in August. Photographer: Anadolu/Anadolu

When “Aviator” joined Ukraine’s war effort a few months ago, he liked the organization, tactics and leadership of the Khartiia Brigade, founded by one of the country’s richest men. As recruiting new soldiers becomes increasingly difficult, brigades are using slick marketing campaigns to lure volunteers seeking to avoid being randomly sent to the front as a conscript.

Looming Financial Pain Casts Shadow Over Elections in Romania

Felix Patrascanu’s courier service has been thriving after the government pushed up salaries and pensions and built new roads. Yet the fallout from that largesse has now become his biggest concern as the country holds back-to-back elections starting this weekend: Romania has the widest budget deficit in the EU, and addressing it is going to hurt.

From Boardroom Brawls to IPO Ready: Inside Klarna’s Wild Year

At times, the boardroom drama inside online payments firm Klarna this year felt like a soap opera. Its journey toward an IPO was marked by a clash of the firm’s co-founders, boardroom mudslinging involving the fintech’s most hallowed investor, a plunge into AI that allowed the company to shed hundreds of jobs and a series of arcane deals designed to bolster capital and get the company IPO ready. 

Carlsberg’s Banker-to-CEO Embraces Positive Energy: ‘I Never Yell at Anyone’

Jacob Aarup-Andersen took charge of Carlsberg in 2023, at the height of the Danish brewer’s dispute with the Kremlin over its Russian exit and when consumer sentiment was flagging across key markets such as China. The 46-year-old Dane spoke with Bloomberg about the risk of negative energy, the impact of culture wars and why Carlsberg is moving beyond beer.

Louboutin Fights to Save Portuguese Retreat From Tourism Surge

The beach in Melides, one of the last almost untouched stretches of Atlantic coast in Portugal. Photographer: Goncalo Fonseca/Bloomberg

When French designer Christian Louboutin bought a secluded house in Melides, Portugal, it was a sleepy coastal area. Less than two decades later, what was once a well-kept secret has transformed into a playground of the rich and famous. An explosion of golf and resort developments along the coast has led to local worries that the area will fall victim to overtourism. 

This Week in Europe

  • Sunday: Romanians vote in the first round of presidential elections
  • Monday: German Defense Minister Boris Pistorius hosts counterparts from France, UK, Italy and Poland in Berlin for talks on European security
  • Monday-Tuesday: G-7 foreign ministers meet in Fiuggi, Italy
  • Wednesday: European Parliament holds vote to confirm next European Commission, which will take office Dec. 1
  • Friday: Ireland holds general election; handover ceremony for European Council president from Charles Michel to Antonio Costa

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