The headline says:
Spain takes over US presidency
That really would be headline news but the story which follows is somewhat less sensational:
Spain took over the presidency of the European Union on Friday. . . The six-month rotating post passed from Sweden to Spain at the stroke of midnight. . .
We usually refer to the European Union as the EU. In Spain it’s the Union Europeo and they call it the UE, but I don’t know any language where it’s the US.