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Global Turmoil: Rafah Stalls, Iran Mocks, Capitalism Collapses?

Global Developments Unfold: Rafah Crossing Limited, French Budget Adopted, and Economic Concerns Raised

Developments across the globe made headlines on Monday, February 2nd, 2026, ranging from limited access at the Rafah crossing between Gaza and Egypt to the adoption of France's long-awaited budget and warnings about a shift towards "techno-feudalism."

The reopening of the Rafah crossing proved to be far from straightforward, according to Sky News. Despite Israeli authorities initially announcing the crossing was open for civilians, only a handful of individuals, specifically five people in need of urgent medical attention from Gaza, managed to cross into Egypt by sunset. Adam Parsons, Middle East correspondent for Sky News, noted the inevitability of complications surrounding the crossing.

In France, after months of political gridlock, the 2026 state budget was definitively adopted on Monday evening, Euronews reported. This followed the rejection of two no-confidence motions in parliament, which were tabled in response to Prime Minister Sébastien Lecornu's decision to invoke Article 49.3 of the constitution. This constitutional measure allows the government to pass legislation without a vote from Members of Parliament. One motion was tabled by the far-right National Rally, and the other by left-wing parties.

Meanwhile, former Greek finance minister Yanis Varoufakis warned that capitalism has already ended and the world has entered an era of "techno-feudalism," where big tech companies wield unprecedented power over human behavior. Speaking to Euronews after his panel at Web Summit Qatar, Varoufakis suggested that debates about capitalism miss the point, and that the world could be heading toward another crisis similar to 2008, driven by the rise of stablecoins and powerful tech platforms.

In Iran, a program broadcast on Ofogh TV, a channel close to the Islamic Revolutionary Guard Corps, sparked national outrage due to mockeries of protesters killed during the January protests, Euronews reported. The program, titled "Khat-Khati" (Scribbles), featured a TV host who mockingly suggested the Islamic Republic kept the bodies in cold places in case the US or Israel later attacked Iran. The Tehran Prosecutor has since brought charges against the director, the production team, and the host of Ofogh TV.

AI-Assisted Journalism

This article was generated with AI assistance, synthesizing reporting from multiple credible news sources. Our editorial team reviews AI-generated content for accuracy.

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