A meeting last week between EU leaders and Pope Francis in the Vatican is evidence that Europe’s most important union is a “Crusader Alliance” and was consequently avoiding admitting Turkey as a full member, Turkey’s president has said, declaring that the upcoming referendum on charter changes will also stand as a vote on Ankara’s ties with Brussels. Source Hurriyetdaily News
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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
U.K. lender Barclays reported a net loss of £1.21 billion ($1.58 billion) for the first half of 2017, hit by the fall in sterling, a charge from the mis-selling of payment protection insurance and a loss from the sale of its Africa unit. Source: CNBC