Pursuing multi-vector foreign and energy policies, Greece will become an energy hub, Greek Prime Minister Alexis Tsipras has said. Gas will be delivered to Turkey in 2018, and after completion of the Trans Adriatic Pipeline’s (TAP) construction, it will be delivered to Europe in early 2020. Source: Trend
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France is to nationalise its biggest shipyard at St-Nazaire rather than allow it to pass into Italian ownership, its economy minister has announced. The nationalisation, which was confirmed on Thursday afternoon, will mark President Emmanuel Macron’s first major industrial policy intervention, and appears a far cry from the former banker’s usual philosophy. Source The Guardian
Spain’s economy grew by 0.9% in the second quarter thanks to improved exports and household spending.The growth figure, a first estimate from the National Statistics Institute (INE), suggests the country’s economy has finally grown back to the size it was before the credit crunch of 2008. Source: BBC News
Russia ordered the U.S. to slash hundreds of embassy and other personnel in the country in a dramatic and sweeping retaliation to the passage of a new sanctions bill in the U.S. Congress. Source: Bloomberg