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“Three key events on Thursday”, announces Cinco Días, which points out that on the day in question: the markets are expecting the ECB to provide details of its road map, Spanish PM Mariano Rajoy is to meet with the German chancellor Angela Merkel, a key appointment for the financial aid to Spain, and the Spanish Treasury faces its first debt auction since July.
Another crucial week – Cinco Días
Yet another country may soon be in need of assistance from European bailout funds. During the weekend, Slovenian Prime Minister, Janez Janša, announced that his country is “threatened with insolvency if it is unable to rollover its debt by October”. In the second quarter of 2012, the country’s economy shrank by 3.2% when compared to the same period of the previous year.
Slovenia scared of bankruptcy – Financial Times Deutschland
The French government has pledged to provide a guarantee for more than 20 billion euros to Crédit immobilier de France (CIF). The initiative will require the blessing of the European Commission which monitors state aid of this kind. CIF is preparaing a recapitalisation plan that will shortly be presented in Brussels.
State forced to rescue another French bank – Les Echos
In economic terms the former East Germany continues to lag behind western Germany. In particular the level of productivity is much lower and the difference in standards of living is increasing. According to a study conducted by Roland Berger Strategy Consultants recommends an “investment injection” of at least a trillion euros.
Standstill in the East – Handelsblatt
Twenty six police officers have been injured during a night of riots in North Belfast, where sectarian tensions have surged during the summer marching season. The police came under attack from both Loyalist and Republican groups.
In the firing line – The Belfast Telegraph
Armenia has suspended diplomatic relations with Hungary, in the wake of a decision by an Azerbaïdjian court to grant a pardon to an Azeri soldier, who had previously been given a life sentence in Hungary for the murder of an Armenian officer, whom he killed with an axe, in Budapest in 2004. The soldier had been transferred to Baku on 31 August, within the framework of Viktor Orbán’s policy for more open cooperation with Central Asia.
Relations axed – Népszabadság
Portuguese prosecutors investigating suspicions of corruption in the purchase of two German submarines in 2004 have submitted an official request to British authorities for access to banking information. At that time, acting Foreign Affairs Minister Paulo Portas was in charge of the Defence Ministry.
Public prosecutor implies Portas is a suspect in submarine case – Diário de Notícias
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