Policy

North Korea money laundering in Russia puts European banks at risk

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Elvira Nabiullina, the governor of the Russian Central Bank, has reportedly been reforming the bank sector and cracking down on financial institutions engaged in illicit behaviour. “Nabiullina's has made some impressive achievements in cleaning up...

Say “No” to a technocratic government

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The EU’s economy has essentially been flat over the past year. The slump in manufacturing is deepening. Companies are cutting work hours and issuing profit warnings. The dominant mood in the European and international...

Italy’s opposition wants alternative government following Conte resignation

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Italy’s main opposition party The leader of Italy's centre-left Democratic Party, Nicola Zingaretti, has called for the formation of a four-year alternative government in order to approve the country's 2020 budget. This was the...

EU opens anti-trust probe against Facebook’s Libra currency

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The EU has opened an antitrust probe against Facebook's Libra cryptocurrency plan, with the European Commission actively investigating the company's potential anticompetitive behaviour amid concerns that the proposed payment system would unfairly shut out...

Pompeo threatens to sanction countries that allow Iranian tanker to drop anchor

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US Secretary of State Mike Pompeo said Washington will take every action it can to prevent an Iranian oil tanker that left Gibraltar on Monday from delivering oil to Syria in contravention of current American...

Danes angered over Trump cancellation following Greenland debacle

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Danish Prime Minister Mette Frederiksen admitted on Tuesday that she was "annoyed" after US President Donald J. Trump abruptly announced that would cancel his upcoming official visit to Denmark after being told that Greenland...

ISIS is reconstituting in Iraq and Syria

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It has been than a year since US President Donald J. Trump took to Twitter to declare victory over the Islamic State, but new reports indicate that the more than 18,000 ISIS fighters are...

Bundesbank warns of technical recession in Germany

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Germany's Bundesbank joined members of the government, think tanks, and business analysts to warn that Europe's largest economy may be headed towards a recession after suffering through a period of negative growth throughout the...

Markets expect new government rather than snap elections in Italy

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Italian President Sergio Mattarella is beginning a two-day round of consultations with parties on Wednesday to explore whether it is possible to form a government. Giuseppe Conte resigned on Tuesday, ending a 14-month coalition government...

Italian PM Conte resigns

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After weeks of coalition turmoil between the increasingly popular Lega party and their governing partners, the 5-Star Movement, Italy's Prime Minister Giuseppe Conte announced his resignation on Tuesday afternoon saying, 'this government ends here". Conte's...

Formerly detained Iranian tanker leaves Gibraltar for Greece

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An Iranian tanker captured by Royal Marines and detained by Gibraltarian authorities since July 4 was released late Sunday and sailed for Greece on Monday. The final destination is unknown. The Grace 1 tanker was carrying...

Swiss justice charges tax avoidance whistle-blower with industrial espionage

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A whistle-blower responsible for uncovering one of the biggest cases of tax avoidance in Germany is now prosecuted by Swiss authorities for industrial espionage, the daily financial newspaper Handelsblatt reported on Monday. Echart Seith is...

UK to end freedom of movement for EU citizens on October 31st

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Should the UK leave the EU without a deal on October 31, freedom of movement for EU citizens would seize effective immediately, the government spokeswoman announced on Monday. "Freedom of movement as it currently stands...

What can be done to save Hong Kong?

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It is becoming increasingly clear, as the Hong Kong protests continue, that the Chinese Communist Party will be forced to make a choice - either a bloody, military crackdown (the more likely of the...

Finland faces harvest crisis due to labour shortage

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Finnish berry companies are struggling to recruit seasonal workers as Thailand cut the number of travel visas it issues, according to the national public broadcaster Yle. Some 2,400 Thai berry pickers arrived in Finland this...

Spanish illegal migration drops by 40%

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By investing in cooperation with Morocco, Spain has seen irregular migration from by just under 40% in 2018. According to Spanish official data published last Tuesday, in the first half of 2019 Spain saw a...

European markets surge in expectation of German stimulus package

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The Euro surged against the US dollar on Friday, in anticipation of a U-turn in German budgetary policy, which could end a decade-long zero-deficit policy. European shares rebounded from a six-month low on Friday, as...

Salvini-led government would prioritise tax cuts over deficit

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An Italian government led by Deputy Prime Minister Matteo Salvini's Lega party would pursue an ambitious tax cut programme, according to the party's economic spokesman, Claudio Borghi. “We need to pursue a tax cut and...

When Leninists overreach

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Ongoing street protests in Hong Kong and Moscow have no doubt spooked the authoritarian duo of Chinese President Xi Jinping and Russian President Vladimir Putin. The Moscow protests, the largest in many years, must...

Juncker forced to return from summer holiday for immediate medical procedure

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Jean-Claude Juncker, the outgoing President of the European Commission, has had to cut his summer holiday in Austria short to undergo urgent surgery to remove his gall bladder in his home country of Luxembourg. Juncker,...

EP president urges Italian government to let all migrant ship passengers disembark

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The President of the European Parliament, David Sassoli, has urged the Italian government to allow the Open Arms migrant ship to dock on the island of Lampedusa and allow the more than 100 illegal...

British Airways faces record EU fine for major data-breach

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The European Commission is ready to impose a £183.4 million fine on British Airways for its failure to protect the personal details of 500,000 customers. The UK’s Information Commissioner confirmed that since June 2018 the...

Markets signal global recession

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Markets in Europe fell on Thursday, following a sell-off in Asian and US stock exchanges on Wednesday. The market downturn was triggered by negative growth data in the UK and Germany, culminating with Chinese...

Tense encounter between Russian and Spanish jetfighters over the Baltic Sea

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A Spanish F-18 fighter and a Russian Su-27 were involved in a tense encounter over the Baltic Sea on Tuesday, as seen in a video released by Russia’s Defense Ministry. The Spanish F-18 took makes...

Germany forced to rethink export-led growth model

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Germany’s export-led economic model is called into question, forcing the government to rethink its fiscal policy. Slumping exports have brought Germany on the brink of recession, according to data released on Wednesday. The overall output...

Amazon close to securing 10% of India’s second-biggest retailer

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The Amazon corporation is nearing a deal to acquire 10% of India's Future Retail, Bloomberg reports, allowing the US behemoth to move in one of the world's fastest-growing retail markets. Future Retail is India’s second-biggest...

Gibraltar considers the release of Iranian tanker

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British authorities remain in talks with Iran regarding the release of an oil tanker that was captured by Royal Marines in July after British authorities discovered that the ship was bound for Syria, which...

Salvini’s Lega presents Italian PM Conte no-confidence motion

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Italian deputy prime minister Matteo Salvini's League presented a motion of no confidence in prime minister Giuseppe Conte in the Italian Senate on Friday. The motion comes after Thursday’s quotes from Salvini that the ruling...

UK announces post-Brexit fast-track visa scheme for researchers

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Amid concerns that leaving the EU will hurt the UK ability to recruit top talent both from the EU member states and third countries. London’s plans to fast-track visas for researchers wants to allow "the...

EIB finances 21 new wind farms in Spain

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The European Investment Bank (EIB) is providing €385 million in financing to wind energy company Alfanar to support its plans to construct 21 new wind farms in six autonomous regions in Spain. According to the...

Britain’s Rail Delivery Group to stay in EUrail and Interrail scheme after U-turn

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UK’s Rail Delivery Group (RDG) train company has decided to reverse exit from the EUrail and Interrail scheme, after public affairs backlash The company has decided to reverse Wednesday’s decision, according to which the arrangement...

UK economy shrinks in second quarter, first since 2012 and ahead of Brexit deadline

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The UK's economy shrank for the first time since 2012 in the second quarter according to fiscal data made available by Britain’s Office for National Statistics. With Boris Johnson’s British government committed to exit...

EU’s Copernicus satellite maps to assist Turkey’s Civil Protection Services after 5.7 earthquake

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Following a request by Turkey after the 5.7 magnitude earthquake, the European Commission is providing Turkey with Copernicus emergency satellite maps, according to the European Commissioner for Humanitarian Aid and Crisis Management, Christos Stylianides. The...

Sweden’s Johansson tapped as ninth woman nominated for EU College of Commissioners

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The Swedish government has decided to nominate its Labour Minister Ylva Johansson as the country's candidate to be a part of European Commission President-elect Ursula von Der Leyen’s incoming College of Commissioners. Johansson is one...

Government future at stake as Italian PM Conte visits President Mattarella

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The Italian premier Giuzeppe Conte had a 30-minute face-to-face meeting with the Italian Head of State Sergio Mattarella, to take stock of the tensions between the 5 Stelle and the Lega. The meeting became a...

Interrail no more – the UK drops membership from 1 January 2020

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The UK Rail Delivery Group announced Wednesday that its membership of the Eurail and Interrail cooperation, allowing unlimited train travel throughout Europe, will end next year. Following a decision go the Dutch Eurail group, to...

Pentagon says ISIS is moving to reconstitute itself in Syria

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ISIS is making a comeback in Syria at a time when the United States is largely drawing down its troop presence in the country, according to a Pentagon report. "Although it has lost its territory,...