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The Czech president has used his New Year's speech to call for 'concrete steps' towards joining the Euro. Petr Pavel said it was a logical choice for a small, open economy like the Czech Republic.

President Pavel's comments come as the Euro turns 25. We reflect on the single currency's history with former ECB president Jean-Claude Trichet.

The US and UK are increasing pressure on Houthi rebels, who are targeting cargo ships in the Red Sea. The area is one of the word's primary shipping routes, with around 12% of global trade passing through it. We get analysis from maritime security expert Jakob Larsen from the Danish shipping organisation BIMCO, which has 2,000 members in 130 countries around the world.

(Picture: President of the Czech Republic Petr Pavel looks on while attending the Italian-Czech Business Forum at Palazzo Regione Lombardia on November 29, 2023 in Milan, Italy. Credit: Emanuele Cremaschi/Getty Images)