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.
Climate Crisis
Climate Home News: EU climate efforts not living up to Paris promises
Report ranking national efforts finds many European nations are working against efforts to increase ambition to act on climate change Read here
EU politics
Euractiv: ‘Change continues’ is the surprise winner of Bulgarian elections
‘Change continues’, a new anti-graft political force in Bulgaria, is the surprise leader following the parliamentary and presidential elections in Bulgaria on Sunday (14 November), while the country’s President Rumen Radev is well-placed for re-election, […]
Finance
Will Hutton: We can undo privatisation. And it won’t cost us a penny
End privitisation. A vast majority of Britons want their utilities and railways renationalised. Will Hutton suggests an alternative: The Public Benefit Company. Read here
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