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After the ECB stated it would buy public debt if governments ask for the help of the European Financial Stability Facility, interest rates on short-term state bonds diminished and the Madrid stockmarket rose sharply. On Monday, in a phone call with Mariano Rajoy, US President Barack Obama reiterated his support for the efforts of the Spanish PM to resolve the crisis.
The market yearns for the bailout – Cinco Días
In the wake of the resignation of Interior Minister Ioan Rus, Prime Minister Victor Ponta has organised a major reshuffle of his cabinet in which five ministers, including the minister for foreign affairs, have been replaced. However, Acting President Crin Antonescu and his ally, the wealthy businessman Dan Voiculescu, have not succeeded in appointing a judge who is a close associate of Voiculescu as minister for justice.
Voiculescu and Crin get their fingers burnt on justice – Evenimentul zilei
The Anglo-Dutch company wants to withdraw 15 billion euros from the eurozone. The sum is close to the totality of its cash reserves, which were €17.3 billion at the end of the second quarter of 2012, and it plans to deposit the money in the United States. The daily worries that more cash will follow what it believes to be the first reported instance of multinational capital flight from the eurozone.
Shell sparks fears for euro – Financial Times Deutschland
US investigators from New York state's Department of Financial Services have accused British-bank Standard Chartered of laundering $250bn from Iran and behaving like a "rogue institution". The financial services regulator said that the New York branch of the bank had earned millions of dollars in fees by "conspiring" with the pariah Gulf state in around 60,000 "secret transactions".
British bank “laundered $250bn for Iran regime” – The Independent
Curiosity, the NASA robot that landed on the red planet on August 6, is “equipped with Spanish technology”, the daily enthusiastically reports.
Mars conquest “made in Spain” – La Razón
According to the latest figures from Eurostat, the average rate of unemployment in the 15-29 age group in Europe’s 27 member states is close to 17% — a level not seen since 2000.
Eight million young jobless in the EU – Berlingske Tidende
Following the outcry prompted by his criticism of the influence of the German parliament on the management of the eurozone crisis, Italian Prime Minister Mario Monti has reaffirmed that “the parliamentary legitimation of democracy is vitally important”.
Our Kaiser – Il Manifesto
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