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Israel Moves EU Approval for Diaspora Bond to Luxembourg From Ireland Amid Hostility Over Gaza
Anti-Israel protesters demonstrate in front of the Central Bank of Ireland against the sale of Israeli bonds throughout the EU, in Dublin, Ireland, May 27, 2025. Photo: REUTERS/Clodagh Kilcoyne
Israel has moved the process of securing EU approval for its diaspora bond prospectus to Luxembourg from Ireland amid increasing opposition in Dublin to its central bank’s role in approving the program on behalf of the European Union.
Irish lawmakers and anti-Israel campaign groups have called on the central bank to stop facilitating the sale of the bonds over the last year due to Israel‘s near two-year military campaign against the Palestinian terrorist group Hamas in Gaza.
Israel‘s diaspora bonds are relatively small and sold mainly in Jewish communities around the world to help supplement the state’s bond sales that finance its budget deficit that has risen due to the war. Israel launched a diaspora bond campaign in October 2023 to raise money amid the conflict.
Non-EU countries must choose one EU member state to apply to for approval of a prospectus where securities are traded in the EU and Ireland‘s central bank had been asked to approve Israel‘s diaspora bond program each year since 2021.
A joint committee of Irish lawmakers recommended in August that the government seek to amend EU regulations so as to allow each individual European central bank to refuse to act as the competent authority for such bond prospectuses.
Protesters have also demonstrated outside the central bank’s offices.
Ireland has been one of the fiercest critics of Israel on the international stage since Hamas’s Oct. 7, 2023, massacre across southern Israel, amid the ensuing war in Gaza, leading the Jewish state to shutter its embassy in Dublin.
Last year, Ireland officially recognized a Palestinian state, a decision that Israel described as a “reward for terrorism.” This year, the Irish government is drafting legislation to ban trade with territories under Israeli administration, including the West Bank, Gaza, East Jerusalem, and the Golan Heights. The measure seeks to prohibit the import of goods and services originating from what the legislation refers to as “occupied Palestinian territories,” including Israeli communities in the West Bank and East Jerusalem.
The Irish central bank had consistently said it is legally obliged to approve any prospectus once the relevant conditions are met.
In a letter to a lawmaker published by the central bank, Governor Gabriel Makhlouf said the approval for Israel‘s program would be transferred to Luxembourg upon the expiry of the prior year’s prospectus on Monday.
The new prospectus published on the website of Israel Bonds, the country’s borrowing vehicle for diaspora bonds, said its program for the next year had been approved by Luxembourg.
Israel‘s finance ministry did not immediately comment on the reasons for moving its EU bond prospectus approval.
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After False Dawns, Gazans Hope Trump Will Force End to Two-Year-Old War
Palestinians walk past a residential building destroyed in previous Israeli strikes, after Hamas agreed to release hostages and accept some other terms in a US plan to end the war, in Nuseirat, central Gaza Strip October 4, 2025. Photo: REUTERS/Mahmoud Issa
Exhausted Palestinians in Gaza clung to hopes on Saturday that US President Donald Trump would keep up pressure on Israel to end a two-year-old war that has killed tens of thousands and displaced the entire population of more than two million.
Hamas’ declaration that it was ready to hand over hostages and accept some terms of Trump’s plan to end the conflict while calling for more talks on several key issues was greeted with relief in the enclave, where most homes are now in ruins.
“It’s happy news, it saves those who are still alive,” said 32-year-old Saoud Qarneyta, reacting to Hamas’ response and Trump’s intervention. “This is enough. Houses have been damaged, everything has been damaged, what is left? Nothing.”
GAZAN RESIDENT HOPES ‘WE WILL BE DONE WITH WARS’
Ismail Zayda, 40, a father of three, displaced from a suburb in northern Gaza City where Israel launched a full-scale ground operation last month, said: “We want President Trump to keep pushing for an end to the war, if this chance is lost, it means that Gaza City will be destroyed by Israel and we might not survive.
“Enough, two years of bombardment, death and starvation. Enough,” he told Reuters on a social media chat.
“God willing this will be the last war. We will hopefully be done with the wars,” said 59-year-old Ali Ahmad, speaking in one of the tented camps where most Palestinians now live.
“We urge all sides not to backtrack. Every day of delay costs lives in Gaza, it is not just time wasted, lives get wasted too,” said Tamer Al-Burai, a Gaza City businessman displaced with members of his family in central Gaza Strip.
After two previous ceasefires — one near the start of the war and another earlier this year — lasted only a few weeks, he said; “I am very optimistic this time, maybe Trump’s seeking to be remembered as a man of peace, will bring us real peace this time.”
RESIDENT WORRIES THAT NETANYAHU WILL ‘SABOTAGE’ DEAL
Some voiced hopes of returning to their homes, but the Israeli military issued a fresh warning to Gazans on Saturday to stay out of Gaza City, describing it as a “dangerous combat zone.”
Gazans have faced previous false dawns during the past two years, when Trump and others declared at several points during on-off negotiations between Hamas, Israel and Arab and US mediators that a deal was close, only for war to rage on.
“Will it happen? Can we trust Trump? Maybe we trust Trump, but will Netanyahu abide this time? He has always sabotaged everything and continued the war. I hope he ends it now,” said Aya, 31, who was displaced with her family to Deir Al-Balah in the central Gaza Strip.
She added: “Maybe there is a chance the war ends at October 7, two years after it began.”
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Mass Rally in Rome on Fourth Day of Italy’s Pro-Palestinian Protests
A Pro-Palestinian demonstrator waves a Palestinian flag during a national protest for Gaza in Rome, Italy, October 4, 2025. Photo: REUTERS/Claudia Greco
Large crowds assembled in central Rome on Saturday for the fourth straight day of protests in Italy since Israel intercepted an international flotilla trying to deliver aid to Gaza, and detained its activists.
People holding banners and Palestinian flags, chanting “Free Palestine” and other slogans, filed past the Colosseum, taking part in a march that organizers hoped would attract at least 1 million people.
“I’m here with a lot of other friends because I think it is important for us all to mobilize individually,” Francesco Galtieri, a 65-year-old musician from Rome, said. “If we don’t all mobilize, then nothing will change.”
Since Israel started blocking the flotilla late on Wednesday, protests have sprung up across Europe and in other parts of the world, but in Italy they have been a daily occurrence, in multiple cities.
On Friday, unions called a general strike in support of the flotilla, with demonstrations across the country that attracted more than 2 million, according to organizers. The interior ministry estimated attendance at around 400,000.
Italy’s right-wing government has been critical of the protests, with Prime Minister Giorgia Meloni suggesting that people would skip work for Gaza just as an excuse for a longer weekend break.
On Saturday, Meloni blamed protesters for insulting graffiti that appeared on a statue of the late Pope John Paul II outside Rome’s main train station, where Pro-Palestinian groups have been holding a protest picket.
“They say they are taking to the streets for peace, but then they insult the memory of a man who was a true defender and builder of peace. A shameful act committed by people blinded by ideology,” she said in a statement.
Israel launched its Gaza offensive after Hamas terrorists staged a cross border attack on October 7, 2023, killing some 1,200 people and taking 251 people hostage.
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Hamas Says It Agrees to Release All Israeli Hostages Under Trump Gaza Plan
Smoke rises during an Israeli military operation in Gaza City, as seen from the central Gaza Strip, October 2, 2025. Photo: REUTERS/Dawoud Abu Alkas
Hamas said on Friday it had agreed to release all Israeli hostages, alive or dead, under the terms of US President Donald Trump’s Gaza proposal, and signaled readiness to immediately enter mediated negotiations to discuss the details.