Today's front pages

First draft of the rescue plan to be adopted at thursday’s ECB meeting unveiled: the central bank will restrict its purchases to the three-year bonds of countries in difficulty, which will be obliged to sign a confidential agreement with Frankfurt, but will avoid signing a memorandum with the troika.

Draghi: how the ECB will buy bonds – La Repubblica

For the first time in the run-up to general elections on 12 September, a poll has placed Diederik Samsom’s Labour Party second, predicting that it will win 30 seats in the Dutch parliament ahead of Emile Roemer’s radical-left Socialist Party which it estimates will win 24 seats. As a result of this “unexpected development”, the newspaper notes that Samsom is now the outgoing Prime Minister Mark Rutte’s main rival. Rutte's liberal VVD party remains the poll leader with an estimated 35 seats.

Samsom overtakes Roemer – De Volkskrant

The Minister of Labour Ursula von der Leyen, who is planning to reduce pensions, believes that workers with gross wages of less than 2,500 euros a month may need to have their pensions topped up by the state when they retire. She is therefore proposing to establish an additional pension scheme. “The figures are shocking”, notes the daily, which remarks that “millions of Germans are afraid they will be poor when they are old.”

Will my pension be enough to live on? – Bild

For the first time since 1999, prices have increased more rapidly than salaries and purchasing power in the Czech Republic has begun to decline. The average gross salary in the country is 24,626 koruna (992 euros). Analysts have forecast that household consumption will be down by 2.2% this year.

Czech living standards in decline – Lidové noviny

One of the main programmes that enables Romania to obtain European funds, the SOP HRD (Sectoral Operational Programme for Human Resources Development), has been suspended pending the results of an audit of Bucharest’s management, exposing numerous companies, some of which have already begun to lay off staff, to the risk of bankruptcy.

Nationwide suspension of European fund – Adevărul

Andalusia joins the group of Spanish regions with liquidity problems (which already includes Valencia, Murcia and Catalonia). The administration has asked the government in Madrid for an advance on money due to the region to relieve its “financial asphyxia”.

Andalusia requests €1bn from the government to get to the end of the month – El País

Roughly halfway through his term in office, Prime Minister David Cameron has launched what appears to be an extensive restructuring of the British Conservative Party that will include a reshuffle of cabinet ministers and the appointment of a new party chairman and chief whip.

Cameron's reshuffle has coalition in a spin – The Independent