The French government is to scrap 4,500 public-sector jobs in 2019 and more than 10,000 in 2020, Prime Minister Edouard Philippe said in an interview published Sunday. And pensions, family allowance and housing benefit will not keep up with inflation as part of an economy drive to reach EU targets on the budget deficit as growth proves more sluggish than expected. Source RFI
German 10-year bond yields dropped below zero for the first time in more than two years after the nation’s manufacturing sector fell deeper into contraction, compounding fears of an economic slowdown across the euro area. Source: Bloomberg.
A federal judge has temporarily blocked new drilling on 300,000 acres of land in Wyoming after ruling that the US Department of the Interior “did not sufficiently consider climate change” when allowing oil and gas companies to lease federal land in the state. Source: The Verge.
Finance Minister Olaf Scholz has announced plans to cut refugee and asylum seeker integration funding by just under a third ahead of 2020, drawing criticism from both sides of the political spectrum. In a bid to reduce government expenditure, German Finance Minister Olaf Scholz has announced plans to reduce refugee funding by €1.3 billion from 2020, bringing it down from the current €4.7 billion budget, reported DPA. Source: The Local.
