European Union formally rejects Italian budget for a second time after Rome makes only small tweaks. The path is no set for the opening of the EU’s so-called Excessive Deficit Procedure – which has the power to fine countries within the Eurozone. The budget proposes increasing both Italy’s overall government debt and its deficit in the short run, pushing the deficit as high as 2.4% of gross domestic product over the coming years. In doing so, Italy would fall foul of a previously mandated maximum deficit level of 0.8% of GDP. The European Union on Wednesday once again rejected the Italian government’s proposed budget for 2019, paving the way for financial sanctions against the continent’s fourth largest economy. The budget proposes increasing both Italy’s overall government debt and its deficit in the short run, pushing the deficit as high as 2.4% of gross domestic product over the coming years. This means Italy would fall foul of a … [Read more...] about The European Union just rejected Italy’s budget for a 2nd time — and now Rome is facing a huge fine
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European Union and Britain reach tentative Brexit plan
Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE Nov. 13, 2018 / 8:29 PM GMT By Alastair Jamieson LONDON — British Prime Minister Theresa May will face her senior ministers at a crunch meeting Wednesday during which she'll try to persuade them to accept a fragile draft Brexit deal with the European Union. May was planning to confront a divided cabinet to discuss her proposed agreement on divorce terms, including a plan to resolve the key issue of the Irish land border. With only 135 days until Britain leaves the European Union, it is May’s last chance to exit the trading bloc with some kind of deal on customs and trade arrangements. Without it, Britain could face chaos at ports and border posts — a scenario that has already prompted stockpiling of food and medicines. The Wednesday meeting is the first of many hurdles for May's draft agreement. Even if she wins backing … [Read more...] about European Union and Britain reach tentative Brexit plan
Brexit: European Union and Britain have reached a tentative withdrawal pact
Breaking News Emails Get breaking news alerts and special reports. The news and stories that matter, delivered weekday mornings. SUBSCRIBE Nov. 13, 2018 / 8:29 PM GMT By Associated Press After months of stalled talks, false starts and setbacks, negotiators from Britain and the European Union struck a proposed divorce deal Tuesday to provide for the U.K.'s smooth exit from the bloc. But the agreement faces major political hurdles starting Wednesday, when British Prime Minister Theresa May will try to win the approval of her divided Cabinet for a deal many ministers view with skepticism. The British government confirmed that the negotiating teams had reached a draft agreement and the Cabinet would hold a special meeting Wednesday afternoon to consider the proposal. Its support isn't guaranteed: May is under pressure from pro-Brexit ministers not to make further concessions to the EU on the key issue of the Irish border. A spokesman for chief EU negotiator Michel Barnier urged … [Read more...] about Brexit: European Union and Britain have reached a tentative withdrawal pact
Germany’s Merkel calls for a European Union military
STRASBOURG (Reuters) - German Chancellor Angela Merkel called on Tuesday for an integrated European Union military, recalling the lessons of the First World War and the divisions that led to the conflict. "We should work on a vision of one day establishing a real European army," Merkel told the European Parliament during a keynote speech in which she consciously echoed a phrase used by French President Emmanuel Macron last week. Macron's call, which reflects a broad trend of EU thinking but is not universally accepted, irritated U.S. President Donald Trump. (Reporting by Richard Lough, editing by Alastair Macdonald) … [Read more...] about Germany’s Merkel calls for a European Union military
Duterte appoints adviser, journalist special envoys to European Union, China
Duterte appoints adviser, journalist special envoys to European Union, ChinaPRESIDENT Rodrigo Duterte appointed one of his advisers and a journalist as special envoys to promote the country’s foreign relations. Duterte designated Presidential Peace Adviser Jesus Dureza and journalist Ramon Tulfo Jr. as envoys to the European Union and China respectively. Dureza and Tulfo will serve for six months, according to the appointment papers signed by the President on October 23, but was released to the media on Thursday. CATHERINE S. VALENTE … [Read more...] about Duterte appoints adviser, journalist special envoys to European Union, China