German politicians and media are intensifying pressure on Rome in anticipation of today’s EU Commission verdict on Italy’s national budget. Already last week, EU Budget Commissioner Günther Oettinger announced, in reference to the Italian deficit, that the Italian government must “correct” its draft budget. Media reports refer to a “black week” for Rome. Negative reporting – like rating agencies’ devaluation of Italy’s creditworthiness – can contribute to the destabilization of Italy’s financial and credit markets. The country’s current downward spiral threatens to re-escalate the banking crisis. Whereas Berlin insists that the EU take sharp measures against deficits, Germany’s Finance Minister at the time, Wolfgang Schäuble had prevented the EU Commission from taking measures against excessive surpluses, which the commission sees as potentially just as destabilizing. Germany has been achieving these surpluses year after year.
EU politics
VilaWeb: Rapper Pablo Hasel after being one year in prison: “They won’t bring me to my knees”
He was found guilty by the notorious Spanish judiciary of glorifying terrorism and slandering the monarchy in his songs Read Here
Climate Crisis
AP: Climate change tops agenda as Iceland heads to elections
Climate change is top of the agenda when voters in Iceland head to the polls for general elections on Saturday, following an exceptionally warm summer and an election campaign defined by a wide-reaching debate on […]
Climate Crisis
Reuters: Campaigners begin legal fight against EU green investment rules
While the EU Parliament acts as if they are going to do something about this issue – actually they never do anything except cost EU citizens billions – NGOs will be trying the courts. Read […]
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