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Taiwanese vice president’s EU visit sparks fresh diplomatic clash with Beijing

Taiwanese vice president’s EU visit sparks fresh diplomatic clash with Beijing Taiwanese vice president’s EU visit sparks fresh diplomatic clash with Beijing
A rare visit to Europe by Taiwan’s vice president has triggered a sharp diplomatic response from Beijing, highlighting the increasingly delicate...
Read More...

MEPs push for smarter EU energy grid to cut costs and strengthen security

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  European Parliament lawmakers are backing a major overhaul of the EU’s energy infrastructure rules, arguing that better-connected power...
Read More...

25 years after 9/11, Ursula von der Leyen calls for unity against terrorism

25 years after 9/11, Ursula von der Leyen calls for unity against terrorism 25 years after 9/11, Ursula von der Leyen calls for unity against terrorism
  25 years ago, the world stood still. Riveted to screens, we watched in horror and disbelief as the Twin Towers fell.
Read More...

EU approves €6.1 billion defence package to bolster Ukraine against Russian air strikes

EU approves €6.1 billion defence package to bolster Ukraine against Russian air strikes EU approves €6.1 billion defence package to bolster Ukraine against Russian air strikes
  The European Commission has approved an additional €6.1 billion in defence funding for Ukraine, unlocking new purchases of air and...
Read More...

Portugal backs Russian asset plan for Ukraine as Belgium demands EU risk-sharing

Portugal backs Russian asset plan for Ukraine as Belgium demands EU risk-sharing Portugal backs Russian asset plan for Ukraine as Belgium demands EU risk-sharing
  Portugal has thrown its support behind efforts to use frozen Russian assets to help finance Ukraine, while acknowledging Belgium’s...
Read More...

European Capitals of Culture set for major overhaul as EU plans next generation of the programme

European Capitals of Culture set for major overhaul as EU plans next generation of the programme European Capitals of Culture set for major overhaul as EU plans next generation of the programme
  The European Commission is preparing a new chapter for the European Capitals of Culture initiative, proposing changes to the programme...
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France’s growth outlook slashed as consumers and businesses pull back

France’s growth outlook slashed as consumers and businesses pull back France’s growth outlook slashed as consumers and businesses pull back
  France’s economic recovery is losing momentum, with the country’s national statistics office warning that growth will be significantly...
Read More...

Spanish intelligence warned of Ceuta border storm ahead of July migrant surge

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  Spanish intelligence officials warned both Morocco and Spain's authorities about preparations for a mass attempt to enter the North African...
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Brussels releases €114.7 million emergency package for Ceuta after border crisis

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The European Commission has approved €114.7 million in emergency funding for Spain to help authorities respond to the recent migration crisis...
Read More...

EU proposes €1.1 million package to help 351 Finnish paper workers find new jobs

EU proposes €1.1 million package to help 351 Finnish paper workers find new jobs EU proposes €1.1 million package to help 351 Finnish paper workers find new jobs
  The European Commission has proposed allocating €1.1 million from the European Globalisation Adjustment Fund for Displaced Workers...
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Greece's Parliament was sworn in Wednesday (July 17) after July 7 elections that saw a broad conservative victory end over four years of leftist rule.

The six-party Parliament will officially begin its functions after electing a Speaker on Thursday.

New Prime Minister Kyriakos Mitsotakis' conservative government has made boosting sluggish growth a priority, powered by tax cuts and accompanied by privatisation deals.

The 51-year-old Harvard graduate and former McKinsey consultant has also pledged to create jobs and get rid of obstacles to business.

Mr Mitsotakis will outline his government's policies at the weekend before a vote of confidence late on Sunday.

His New Democracy party has 158 lawmakers in the 300-seat chamber.

The Greek debt agency said it had raised €2.5 billion (S$3.82 billion) in the sale, while the prime minister said the yield of 1.9 per cent was a "record low".

A previous seven-year sale in February 2018 had a yield of 3.5 per cent amid world market volatility.

Starting in 2020, Mr Mitsotakis has promised to cut a hated property tax called ENFIA - brought in by a previous New Democracy-led government during the economic crisis - by 30 per cent over two years.

REFORMS PACKAGE

He has also offered to reduce income tax thresholds and to gradually cut tax on business profits by 8 per cent.

But just hours after his July 7 victory, euro zone finance ministers warned the new government to stick to the country's strict public spending commitments.

"We must keep our commitments, this is the only way I know to gain credibility," said Eurogroup chief Mario Centeno.

On Tuesday, the euro zone's bailout fund director and a key EU official overseeing Greece's debt repayments, Mr Klaus Regling, suggested that tax cuts be coupled "with a broader tax base".

In a meeting with Regling later on Tuesday, Mr Mitsotakis "confirmed that Greece would respect fiscal targets", the prime minister's office said.

During the election campaign, Mr Mitsotakis said he would persuade Greece's creditors to accept the easing of targets with "a comprehensive reforms package".

The current framework negotiated with creditors by the previous leftist Syriza government holds Greece to a primary budget surplus of 3.5 per cent to 2022 - but the conservatives say that target stifles growth.

There are two fewer parties in Parliament than in the previous chamber, but two of them are new - Greek Solution, a nationalist party formed by TV salesman Kyriakos Velopoulos, and MeRA25, an anti-austerity party founded by maverick economist and Mr Tsipras's former finance minister Yanis Varoufakis.

"We are here to say a massive 'no' to whatever strengthens (Greece's debt burden)," Mr Varoufakis, whose party elected nine lawmakers, said before being sworn in on Wednesday.

In contrast, neo-Nazi party Golden Dawn was shut out of Parliament for the first time since 2012.

Golden Dawn, until recently Greece's third-ranking party, is in disarray amid an ongoing trial for the 2013 murder of an anti-fascist rapper, allegedly carried out with the knowledge of senior Golden Dawn members.afp