Netanyahu’s challenges are piling up

Pressures on Israeli Prime Minister are piling up [View in browser]( [Bloomberg]( Welcome to Balance of Power, bringing you the latest in global politics. If you haven’t yet, sign up [here](. Recovering in hospital from a hernia operation, Israeli Prime Minister Benjamin Netanyahu has a lot to contend with. The top Iranian commander of anti-Israel militias in Lebanon and Syria was assassinated at the [Islamic Republic’s consulate in Damascus](, almost certainly by Israel; Netanyahu’s forces also [killed seven foreign aid workers]( in Gaza; and outside Parliament, hundreds of tents have gone up where anti-government protesters seeking his removal are setting up camp. The war in Gaza, heading soon into its seventh month, has been brutal with no end in sight. Now, with Iran and Hezbollah in Lebanon threatening retaliation for the strike in Syria yesterday — and growing impatience with him both abroad and at home — Netanyahu is under increasing pressure. WATCH: The aftermath of the strike in Damascus. Source: Bloomberg Last week, in an unexpectedly severe ruling from the Supreme Court, [subsidies that go to religious seminaries]( were stopped until he comes up with a law to draft ultra-Orthodox students into the military. This prompted Netanyahu’s ultra-Orthodox coalition partners to remind him that keeping their students permanently out of military service was a promise he made that drew them into the government 15 months ago and that led to the campaign to weaken the high court; if he can’t live up to it, the coalition may not survive. That led some of the premier’s centrist partners to warn that they’ll leave if the students aren’t drafted, because the Gaza war has demonstrated the urgent need for more manpower. Netanyahu says he’s looking for a way to keep both sides happy. The two intense crises of the past year — street demonstrations against the government for its plans to limit the judiciary, and the Oct. 7 Hamas attack that’s leading to the longest war in Israel’s history since independence — may prove too much to handle even for the nation’s longest-serving premier. —[Ethan Bronner]( The area surrounding Al-Shifa hospital in Gaza after the Israeli military withdrew from the complex yesterday. Photographer: AFP/Getty Images Global Must Reads An opposition leader has secured his position as Turkish President Recep Tayyip Erdogan’s [chief political irritant and potential challenger](. Istanbul Mayor Ekrem Imamoglu defeated Erdogan’s hand-picked candidate in Sunday’s municipal voted to extend his rule over Turkey’s biggest city, while his main opposition Republican People’s Party inflicted further losses on the ruling AK Party nationwide less than a year after Erdogan overcame his country’s economic woes to secure re-election. Imamoglu speaks to supporters in Istanbul on Sunday. Photographer: Yasin Akgul/AFP/Getty Images US House Speaker Mike Johnson’s decision to set a timeline for approval of new support for Ukraine and announce it publicly is [the strongest signal yet]( he will move ahead with an assistance package. But he’s still grappling to soften opposition from Republican hardliners, leaving doubts about whether billions of dollars in aid will reach front lines in time to make a difference. Vladimir Putin’s attack on Ukraine shattered the peaceful and lucrative co-existence between Bulgaria and Lukoil, and the Russian energy giant is [looking at selling up and leaving]( the European Union’s poorest outpost because of what it calls political pressure. Dismantling such ties with the Kremlin more than three decades after the end of communist rule would complete Bulgaria’s shift to embrace the EU and NATO. China has dethroned the US to become the top alignment choice for Southeast Asians as Washington [loses ground on a range of issues]( from regional economic engagement to the Israel-Hamas War. A survey of 1,994 people by the ISEAS-Yusof Ishak Institute published today shows China’s popularity in a head-to-head race with the US climbing from 38.9% last year to 50.5% in 2024. “Confidence in the US has waned,” the report says. The EU’s €40 billion ($43 billion) Innovation Fund is an investment vehicle at the core of its [plans to overhaul its economy]( to be zero-carbon by the middle of the century. If the struggles of some of the dozens of projects it supports turn out to be widespread trends, Will Mathis and John Ainger write, that will be a worrying sign for the bloc’s ability to hit its 2040 climate targets. The New York judge presiding over Republican presidential candidate Donald Trump’s hush-money trial this month [expanded a gag order]( in the case, after the former president attacked the judge and his daughter on social media. South African Speaker of Parliament Nosiviwe Mapisa-Nqakula [faces arrest after she lost]( a court bid to prevent the authorities from detaining her over allegations of corruption. President Felix Tshisekedi appointed Judith Tuluka Suminwa as prime minister of the Democratic Republic of Congo, the [first woman to hold the role]( in the world’s second-biggest copper producer. Peruvian President Dina Boluarte reshuffled her cabinet as she tries to navigate a crisis [triggered by her use of luxury watches](, with Congress set to vote tomorrow on whether to confirm or reject her entire slate of ministers. Washington Dispatch With Florida putting an abortion-rights referendum on the November ballot, Democrats see an opportunity in a one-time swing state that’s now controlled by Republicans. The US Supreme Court’s overturning of the Roe v. Wade decision that guaranteed abortion rights in the US for nearly half a century left Republicans vulnerable, especially as state after state imposed restrictions on the procedure. The Florida Supreme Court yesterday ruled that [voters could decide the question]( of whether to enshrine abortion access in the state’s Constitution. It also upheld a 15-week ban signed by Governor Ron DeSantis in 2022. That means a subsequent law prohibiting abortion after six weeks of pregnancy can soon go into effect. Republicans won over many religious voters by trumpeting their opposition to abortion, a stance they found to be much less effective in an era of actual bans. The sudden eclipse of Roe v. Wade became a factor in the 2022 midterm elections, when the GOP fell far short of the sweeping victories that had been predicted. And voters have repeatedly affirmed support for abortion rights in recent years on ballot initiatives in many Republican-leaning states, including Kansas, Kentucky and Ohio. Of course, it’s possible that Democrats might overplay the issue in 2024. But Trump and other Republicans must first come up with an effective post-Roe strategy. One person to watch today: Trump returns to the campaign trail with rallies in Michigan and Wisconsin. [Sign up for the Washington Edition newsletter]( for more from the US capital and watch Balance of Power at 1 and 5 p.m. ET weekdays on Bloomberg Television. Chart of the Day The Congressional Budget Office warned in its latest projections that US federal government debt is on a path from 97% of GDP last year to 116% by 2034 — higher even than in World War II. [The actual outlook is likely worse](. Bloomberg Economics ran a million forecast simulations on the US debt outlook, and 88% of them show borrowing on an unsustainable path. And Finally As she travels the world battling to sell US President Joe Biden’s economic program to voters at home and counterparts abroad, Treasury Secretary Janet Yellen [takes care to sample authentic cuisine]( in the countless meals she’s had on the road. She doesn’t take those dining decisions lightly, as Chris Anstey writes. In July 2021, Yellen’s plane stayed on the tarmac in Venice until a stack of pizzas was brought aboard, while Taquería Gabriel, which offers classic Mexican items, won Yellen’s custom during a Mexico City visit in November. Yellen at Taquería Gabriel in Mexico City. Photographer: Christopher Condon/Bloomberg Thanks to the 57 people who answered the quiz on Thursday and congratulations to Kevin Beach, who was the first to name Scotland as the country where some internationally renowned golf courses face an uncertain future due to coastal erosion, possibly triggered by climate change. More from Bloomberg - Check out our [Bloomberg Investigates]( film series about untold stories and unraveled mysteries - [Bloomberg Opinion]( for a roundup of our most vital opinions on business, politics, economics, tech and more - [Next Africa](, a twice-weekly newsletter on where the continent stands now — and where it’s headed - [Economics Daily]( for what the changing landscape means for policy makers, investors and you - [Green Daily]( for the latest in climate news, zero-emission tech and green finance - Explore more newsletters at [Bloomberg.com](. Follow Us Like getting this newsletter? 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