This Week in Europe: 13/05/2018
Welcome everyone to the latest edition of This Week in Europe!
Tragically one person was killed and four injured in a knife attack in Paris on Saturday night. The attacker has not been officially named but is believed to be of Chechen origin and was likely an Islamist extremist. He was shot by police who arrived on the scene. None of the victims have yet been named. The Russian province of Chechnya has been a source of extremism for a number of years now, with overlapping nationalist and religious conflicts.
European countries, France in particular, have condemned Trump's decision to withdraw from the Iran deal. European firms could lose heavily from the reimposition of US sanctions and the EU maintains that the deal is the best way to contain Iranian power. This latest split could further bolster Europe's resolve to make itself less dependent on the US in order to better advance its own interests.
Rumours of a Chinese takeover bid for Portuguese utility company EDP has led to the state regulator suspending trading in shares. While Reuters reports that the Portuguese government is unlikely to intervene, EDP will probably try to resist. French and Spanish utilities are also thought to be eyeing up EDP for acquisition or merger.
Italy may be edging closer towards a new government as talks continue between populist parties M5S and Lega. Disagreement over who should become PM has blocked a coalition so far, but the solution may be a touch of technocracy as the parties may decide to appoint someone external in order to resolve the impasse. Former Prime Minister Berlusconi signalling to Lega that he would not seek to punish them for making an agreement with M5S (who are deeply hostile to Berlusconi) may also have helped move things along. Berlusconi himself received good news this week when a court decided to remove his ban on running for elections.
The Czech Republic is also looking more likely to form a government. The Ano party comfortably won the last elections but has struggled to make friends and form a coalition. Now a draft coalition agreement has been brought forward between Ano and the Social Democrats, based on non-entry to the eurozone, resisting refugee quotas, tax cuts and infrastructure spending. To actually become reality, however, this agreement will have to be approved by Social Democrat party members as well as win a vote of confidence. To win such a vote, the coalition group would need the support of at least one other party in the lower house. If this agreement falls through, there may be new elections.
In Poland, MPs have voted to cut their salaries by 20%. The change was driven by the government and, while seemingly a mark of humility, it was largely in response to a controversy last year whereby government ministers awarded themselves bonuses for 'hard work' that many deemed excessive. Local elections this autumn and parliamentary elections next year are further possible motivations for the change.
Tragically one person was killed and four injured in a knife attack in Paris on Saturday night. The attacker has not been officially named but is believed to be of Chechen origin and was likely an Islamist extremist. He was shot by police who arrived on the scene. None of the victims have yet been named. The Russian province of Chechnya has been a source of extremism for a number of years now, with overlapping nationalist and religious conflicts.
European countries, France in particular, have condemned Trump's decision to withdraw from the Iran deal. European firms could lose heavily from the reimposition of US sanctions and the EU maintains that the deal is the best way to contain Iranian power. This latest split could further bolster Europe's resolve to make itself less dependent on the US in order to better advance its own interests.
Rumours of a Chinese takeover bid for Portuguese utility company EDP has led to the state regulator suspending trading in shares. While Reuters reports that the Portuguese government is unlikely to intervene, EDP will probably try to resist. French and Spanish utilities are also thought to be eyeing up EDP for acquisition or merger.
Italy may be edging closer towards a new government as talks continue between populist parties M5S and Lega. Disagreement over who should become PM has blocked a coalition so far, but the solution may be a touch of technocracy as the parties may decide to appoint someone external in order to resolve the impasse. Former Prime Minister Berlusconi signalling to Lega that he would not seek to punish them for making an agreement with M5S (who are deeply hostile to Berlusconi) may also have helped move things along. Berlusconi himself received good news this week when a court decided to remove his ban on running for elections.
The Czech Republic is also looking more likely to form a government. The Ano party comfortably won the last elections but has struggled to make friends and form a coalition. Now a draft coalition agreement has been brought forward between Ano and the Social Democrats, based on non-entry to the eurozone, resisting refugee quotas, tax cuts and infrastructure spending. To actually become reality, however, this agreement will have to be approved by Social Democrat party members as well as win a vote of confidence. To win such a vote, the coalition group would need the support of at least one other party in the lower house. If this agreement falls through, there may be new elections.
In Poland, MPs have voted to cut their salaries by 20%. The change was driven by the government and, while seemingly a mark of humility, it was largely in response to a controversy last year whereby government ministers awarded themselves bonuses for 'hard work' that many deemed excessive. Local elections this autumn and parliamentary elections next year are further possible motivations for the change.
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