Our daily lap around the world

🇬🇷 Greece will hold a second set of elections in the coming weeks, PM Kyriakos Mitsotakis confirmed yesterday. Mitsotakis’ center-right New Democracy party won 146 seats out of 300 in Sunday’s general election, more than doubling up the main opposition party in Greece’s largest election victory since 1974. But since his party remained shy of the majority needed to form a coalition-free government, PM Mitsotakis has opted to hold a second vote no later than July 2, in which his party will receive a bonus of up to 50 seats. Separately, the third-place candidate in Turkey’s inconclusive presidential election just over a week ago officially endorsed incumbent President Erdogan in the runoff election this upcoming Sunday.

🇪🇺 The EU imposed a record $1.3 billion fine on Meta for sending user data to the US. EU regulators ruled that Facebook since 2020 has illegally stored European user data on its US servers, where officials say it can be accessed by American spy agencies without a way for users to appeal. The ruling stems from a case filed a decade ago in response to leaks by former NSA contractor Edward Snowden.

🇨🇳 Youth unemployment in China hit a record-high last month, per government figures. More than 20% Chinese residents aged 16 to 24 were unemployed in April, up from 16.7% in December and far above the pre-pandemic rate of 13% or lower. Experts say China’s elevated youth unemployment rate can be mostly attributed to a mismatch between the white-collar jobs college graduates want, and the blue-collar jobs that are currently available.