Austere future Economists say the country must make good on cost-cutting and debt-servicing pledges before they sound the all-clear. Published on August 20, 2018 12:00 pm Greece’s third and final rescue program ends today, leaving the country independent of outside help for the first time in eight years. German Finance Minister Olaf Scholz sang the praises of the country’s bailout — and the European Union’s ability to help in a crisis — but economists aren’t so sure. “The conclusion of the Greece program is a success. The bleak predictions of the prophets of doom have not come true. That’s good,” Mr. Scholz told Handelsblatt. “Greece’s salvation is also a sign of European solidarity,” Since 2010, the EU and the International Monetary Fund have bailed out the overindebted country with a total of €289 billion in low-interest loans. In return, Athens had to push through tough reforms, social cuts, and … [Read more...] about German Finance Minister Scholz calls Greece bailout a success
Meeting Putin, Merkel keeps a frenemy close
daily briefing The German and Russian leaders chatted this weekend, while Greece’s bailout ended but not its problems. Plus, fresh evidence shows King Ludwig’s suicide was fake news. Our daily briefing on August 20. Published on August 20, 2018 12:21 pm Vladimir Putin and Angela Merkel had a chance to catch up this weekend in their first meeting since their Sochi summit in May. The pair have a contentious relationship but the meeting was framed by the duo’s even more fraught relation with that wild-haired leader of the US, which made their meeting seem normal and good news. Mr. Putin flew in fresh from the wedding of the Austrian foreign minister and was set to address Ukraine, Syria, and natural gas with Merkel. On Saturday night, the leaders committed to work on the Nord Stream 2 pipeline and expressed concern about Syria. So far, so good: Healthy trade relations matter. Though Mr. Trump criticized the pipeline as increasing Germany’s energy … [Read more...] about Meeting Putin, Merkel keeps a frenemy close
Drought-hit Finnish farmers won’t get EU aid, agriculture union says
Finland will not receive agricultural crisis aid from the EU, Juha Marttila, the chair of the country’s largest farmers’ union, told news group Lännen Media.Finland, along with Sweden, Denmark and the Baltic countries, applied for EU aid to help affected farmers deal with losses related to the drought but received a negative decision from the EU’s commissioner of agriculture, Phil Hogan.According to Marttila, chair of the Central Union of Agricultural Producers and Forest Owners (MTK), Hogan said the problems regarding drought are so widespread that the EU does not have the resources to address them.“The EU’s position is that everything that can be done has been done already,” Marttila told Lännen Media.He said that he hopes Finnish lawmakers take the EU decision into consideration when they begin discussing emergency agricultural funding which will be settled when parliament hammers out next year’s budget.“The EU’s … [Read more...] about Drought-hit Finnish farmers won’t get EU aid, agriculture union says
MPs resume debate over health reform after summer spat
The long-running debate over overhauling Finland’s social services and healthcare resumed on Monday as the parliamentary Social Affairs and Health Committee reconvened after the summer break.The centre-right government had hoped to impose the massive reform package, known as sote, before the end of its legislative term next spring. However its timetable remains in doubt. The last session of the Social Affairs and Health Committee ended in a bitter squabble in early July. After that meeting, three MPs from the prime minister’s Centre Party and one of from a junior cabinet party, the Blue Reform, filed a written complaint with the Speakers of Parliament over the behaviour of committee chair Krista Kiuru, a former education minister from the opposition Social Democratic Party. They accused her of trying to delay progress on the government’s centrepiece bill.Parliamentary elections are scheduled for 14 April, less than eight months away.On Monday, the committee’s … [Read more...] about MPs resume debate over health reform after summer spat
EU migrants in Britain to be granted right to stay in case of no-deal Brexit while future for UK expats remains uncertain
EU MIGRANTS living in the UK will be given the right to remain in the country if there is a no-deal Brexit, it has been revealed. Despite not knowing whether British nationals living in the EU will be given reciprocal rights, leaked government papers have revealed that the UK is set to take the ‘moral high ground’, reported the Daily Telegraph. The 3.8 million EU citizens residing in Britain will still be able to use the benefits system and access the NHS. The EU is yet to decide what rights UK expats will receive. It comes as fears grow over potential labour shortages in certain sectors once Britain is no longer in the EU. It is believed further documents outlining preparations for a no deal Brexit are set to be published by the government on Thursday. The leaked paper seen by the Daily Telegraph states: “The Home Office plans to make an offer to existing EU residents that they can remain in the UK in a ‘no-deal’ scenario, in effect unilaterally … [Read more...] about EU migrants in Britain to be granted right to stay in case of no-deal Brexit while future for UK expats remains uncertain