The European Central Bank should have explained more clearly why it nearly doubled its estimated capital shortfall for the ailing Monte dei Paschi di Siena bank, which is being bailed out by the state, Italy’s economy minister said. In unusually critical comments, Pier Carlo Padoan said in a newspaper interview the ECB’s new capital target was the result of a “very rigid stance”. Source Reuters
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Turkey is continuing to escalate its provocations against Greece, as five fighter jets of the Turkish Air force violated Greek air space 6 times and committed air traffic infringements, Friday. Source Tornos News
Armed forces participated in a divisive holiday celebration in the Republika Srpska entity, contravening orders from the Ministry of Defence. The members of the Third Infantry Brigade, made up of soldiers from Republika Srpska, participated in the event despite explicit orders not to do so from the Ministry of Defence and a warning from NATO command in Bosnia. Source Balkan Insight
The Bosnian Serb leader may be bluffing when he talks about holding a ‘historic’ referendum this year – but either way, he is pushing the country towards ever-greater instability. Source BalkanInsight