Prime Minister Shinzo Abe’s cabinet has approved a record $43.6 billion Japan military budget, increasing it for the fifth year in a row out of concerns over potential threats from China and North Korea. Abe’s cabinet signed off on a 1.4 percent increase in military spending, bringing the total to a record $43.66 billion. Source RT
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The number of refugees striving for Europe has increased significantly in the countries south and east of the Mediterranean since the beginning of the year. This was reported by the “Bild” newspaper on Tuesday, citing a “Confidential” paper of the German security authorities. Source Diepresse
The European Central Bank warned there may be “excessive exuberance” in some European housing markets, driven in part by foreign buyers, that could spread to other areas in a “ripple effect.” Since 2010, house prices in European capital cities have risen far more than national averages, central bank said. Source Irish Times
The combined amount spent on the refugee crisis by the federal government totalled over €20 billion in 2016. Over half of the money was spent abroad aiming to stop the flow of migrants making the journey to Europe. Source The Local