Italian bank Monte dei Paschi di Siena, which is being bailed out by the government, booked a net loss of €3.38 billion for 2016 after setting aside more money to cover for bad loans. Source RTE
GEFIRA provides in-depth and comprehensive analysis of and valuable insight into current events that investors, financial planners and politicians need to know to anticipate the world of tomorrow; it is intended for professional and non-professional readers.
The Gefira bulletin is available in ENGLISH, GERMAN and SPANISH.
The state of Berlin has been ordered to pay a Muslim teacher €6,900 after it rejected her job application on the grounds that she wore a head scarf. The Berlin labour court ordered the state to pay the woman the equivalent of two months’ salary. A second case of a teacher whom the state rejected because of her head scarf is also currently being considered by the court. Source The Local
Britain could launch military retaliation such as air strikes against a future cyber attack, the Defence Secretary has suggested. Sir Michael Fallon warned potential attackers that a strike on UK systems “could invite a response from any domain – air, land, sea or cyberspace”. Source The Telegraph
French President Emmanuel Macron invited his US counterpart Donald Trump on Tuesday to attend the country’s traditional Bastille Day military parade, despite public differences over the Paris Agreement on climate change. Source France24