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Europe

Ukraine PM, cabinet dismissed

KIEVL:  Yanukovch accepted Azarov s resignation on Monday, saying the premier and his team will continue to serve until he appoints a new government. The new prime minister will have to manage an economy that is heading into a recession due to a weakened external demand for Ukraine s main export, steel. The national currency, the hryvna has also been weakened. Oleksandr …

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Kashmir Council EU Chairman welcomes Pakistan’s FM’s statement on Kashmir

BRUSSELS: Kashmir Council EU Chairman Ali Raza Syed has welcomed the Pakistan’s Foreign Minister Hina Rabbani Khar’s statement on Kashmir issue at EU parliament’s foreign affairs committee in Brussels on Monday. In her address at the committee, the Foreign Minister has said, true representatives of the Kashmiris should be part of the dialogue process on Kashmir issue. Pakistan’s Foreign Secretary …

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We should make an effort on bank supervision: Wolfgang Schäuble

BRUSSELS:  Wolfgang Schäuble and Pierre Moscovici, finance ministers for Germany and France respectively, discussed on Monday with members of the EP’s economic affairs committee the challenges the European economy faces as EU institutions are fighting for measures to revive economic growth and stabilise the financial system. Speaking at the meeting, German finance minister  Wolfgang Schäuble noted there was no silver …

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Debate on corruption – public and private aspects

BRUSSELS:  On 03.12.12, the Special Committee will focus on corruption issues based on four thematic papers prepared by the MEPs Mariya GABRIEL (EPP, BG), Barbara WEILER (S&D, DE), Theodoros SKYLAKAKIS (ALDE, GR) and Cornelis DE JONG (GUE/NGL, NL). Each of these documents deals with a specific aspect of public or private corruption and include relevant suggestions on the fight against …

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Battered EU budgeting for more painful talks

The collapse of EU budget talks is not calamitous, but it does heap yet more pressure on a divided Union mired in an intractable debt crisis. “The psychodrama will play in two acts,” wrote Belgium’s Le Soir newspaper in the wake of the collapse of the two days of summit talks in Brussels, with a second round of negotiations now …

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14-year-old jumps off motorway bridge

A boy of 14 jumped off a bridge spanning the Ostend Brussels Motorway (E40) on Wednesday morning. The incident happened at Ternat, just outside the Belgian capital. The boy ended up under the wheels of a lorry and was dead at the scene. The incident created traffic chaos on the way into and out of Brussels. Two of the three …

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EU Commission endorses controversial joint debt

BRUSSELS:  The European Commission unveiled plans for a fundamental overhaul of how the euro zone is structured on Wednesday, including the prospect of setting up a common budget for the single currency area and issuing joint debt in the years ahead. In a five-page document dubbed a “blueprint” for creating a “deep and genuine” economic and monetary union, Commission President …

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EU reaches bailout deal to reduce Greek debt

BRUSSELS:  A European Union official told The Associated Press Tuesday that a deal has been reached that would pave the way for Greece to receive the next installment of its much-needed bailout loans. Part of the agreement is that the target for Greece’s debt levels — one of the conditions of the deal going ahead — would reach 124 percent …

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Bails Out 4 Spanish Banks is approved by European Commission

MADRID: The European Commission approved Wednesday a payment of €37 billion from the euro zone bailout fund to four Spanish banks on the condition that they lay off thousands of employees and close offices as part of their restructuring. Enlarge This Image The funds approved Wednesday by the Europeam Coission of 37 billion Euro are a part of that negotiated …

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Anti-money laundering cooperation and confiscation

BRUSSELS: The Committee of Ecomomy is organising its second public hearing on Anti-Money Laundering on 28.11.12. The hearing will tackle issues such as improving synergies between institutions and agencies, identifying and confiscating criminal assets and detecting physical cash movements as an element to prevent money laundering. 11 experts will address the meeting.

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