“I don’t know whose plan it is, but it’s not my plan,” said Kallas, who is the top authority inside the EEAS and is responsible for its operations. Kallas said she had talked to her boss, European Commission President Ursula Von der Leyen and the two “tried to, you know, look into … where is … Read more
The standard playbook calls for a healthy dose of government spending that would inject money into the economy to fight the ongoing recession. In theory Berlin has plenty of fiscal room, with low debt compared to its European peers. But the rules it introduced — European and national — tie its hands. A slower rate … Read more
At a hearing last week, the Bank of Italy, while broadly favorable, suggested the government’s plan was too vague and optimistic. The question remains whether Italy can keep it up: Seven years is a long time, and future governments may think differently. “Certainly I remain concerned about the underlying growth story,” said Balboni, noting among … Read more
Starmer’s leadership, Duffield said, was “more about greed and power than making a difference … I just can’t take any more.” In her resignation letter, published in the Sunday Times, Duffield said Starmer had acted hypocritically by accepting lavish gifts while maintaining a controversial cap on child benefits and slashing winter fuel payments for as … Read more
LONDON — The first few months of Britain’s fledgling Labour government have not exactly been rainbows and sunshine. Enter *checks notes* Rachel Reeves to try and brighten things up. The famously strait-laced chancellor used her speech to Labour Party conference in Liverpool Monday to try and project government confidence after a damaging few weeks of headlines. Key … Read more
The hi-tech manufacturing hub of Suzhou in eastern China has called on civil servants to “get used to living a tight life”, rolling out spending cuts in response to Beijing’s nationwide austerity call to cope with a sluggish economy. The cutbacks include not replacing official cars until they are 10 years old or have done … Read more
In the past, the EU executive has let the bloc’s second-largest economy off the hook, even when its spending burst past the limits. But as populist governments across the Continent pull at the fabric of the European establishment and more fiscally disciplined governments accuse the Commission of turning a blind eye, things are changing. “Increased … Read more
Laura Trott, Hunt’s deputy at the U.K. Treasury, has dismissed allegations of foul play as “an excuse to try and wriggle out of Labour’s disastrous £28 billion of unfunded spending.” But in truth Treasury ministers have always looked for ways to hobble their successors — especially in the run-up to an election. George Osborne, the … Read more
Wolfgang Schäuble, former German finance minister, longstanding senior lawmaker and a key figure behind Berlin’s controversial austerity push during the eurozone financial crisis, has died at the age of 81. Schäuble, a member of the center-right Christian Democratic Union (CDU) since 1965, “fell asleep peacefully at home with his family” on Tuesday evening after a … Read more
