Italy is battling the European Union over government spending levels. The country’s banks may end up paying the price. The European Commission rebuked the Italian government on Tuesday over a draft budget that calls for a sharp spending increase in violation of EU rules. Italy will have to back down or face fines. The escalation…
BERLIN (AP) — A group of media outlets led by Germany’s non-profit Correctiv are reporting traders have manipulated transactions in multiple European countries over years, draining tax coffers of some 55.2 billion euros ($63.5 billion). In Germany alone traders were able to garner 31.8 billion euros in so-called “Cum-Ex” trades, involving receiving multiple reimbursements for…
European Council President Donald Tusk touches his eyebrow after delivering a statement during a joint news conference following a Tripartite Social Summit roundtable at the European Council headquarters in Brussels, Tuesday, Oct. 16, 2018. (AP Photo/Francisco Seco) (Francisco Seco) BRUSSELS (AP) — European Union leaders are converging on Brussels for what had been billed as…
THE EU is heading for a “crisis” with Italy as the eurozone’s third-largest economy teeters on the edge of a financial crisis, Brussels bosses have warned. Pierre Moscovici, European Commissioner, said it was the bloc’s duty to ensure the eurozone doesn’t crumble under the pressure of Rome’s financial troubles. Italian government officials remain locked in…
BELGRADE, Serbia (AP) — Serbia has abolished visa-free travel with Iran apparently in response to European Union pressure after the system was abused by migrants trying to reach the bloc. More than 15,000 Iranians have visited Serbia since visas were abolished last August. Many have moved on toward Western Europe rather than return home. Local…
ITALY’s Interior Minister Matteo Salvini warned the European Commission his eurosceptic government will “keep going” despite threats to its budget proposals as he issued an ultimatum to Eurocrats “insulting” the country. Italy‘s eurosceptic leader Matteo Salvini has been involved in an ongoing verbal spat with European Commission boss Jean-Claude Juncker over the past two weeks. The pair…
There are only a few months left until the UK formally exits the EU. So far, the debate about Brexit has been framed mainly in economic terms. Should the UK crash out of the bloc without a mutual exit agreement, the damage will likely be significant. And, as matters stand, such an agreement is far from…
THERESA May has inspired a German exit from the European Union after a former industry leader and influential politician came out in support for the British Prime Minister’s Conservative conference speech. Brexit news: German MEP calls for Berlin to quit EU to avoid France (Image: GETTY•PA) Hans-Olaf Henkel, a former chief executive of IBM and…
BREXITEER MP Henry Smith claimed Prime Minister Theresa May is not expected to hold on to power “much beyond” Brexit, warning against a change of leader before Britain leaves the European Union in March 2019. Mr Smith insisted the British Government would have had a “stronger negotiating position” if Theresa May had not been at the helm…
With six months to go before Britain formally leaves the European Union on March 29, 2019, Brexit has never looked more baffling. Last week, the UK’s official opposition Labour Party formally backed a policy that could lead to a second EU referendum. So, finally, all those people who want to scrap Brexit altogether have something…