The European Union has long used its economic power to spread influence around the world. Efforts to create a European Defence Force have largely been a failure. Brussels has traditionally relied on NATO for military action. But the United States has increased pressure on the EU to do more for its own security. Volker Hauck, head of the security and resilience programme at think-tank ECDPM, explains why one defence mechanism, the European Peace Facility, has caused alarm in human rights circles. And central banks are making huge profits during the pandemic. Markets analyst Kaia Parv explains why.