The Council of State, which rules on disputes over public policies, said that “while France has committed itself to reducing its emissions by 40 percent by 2030 compared to 1990 levels, it has, in recent years, regularly exceeded the ‘carbon budgets’ it had set itself.” Source RFI
Geopolitics
A cap on migrant workers contained in a previous decree by League leader Matteo Salvini is to be removed in the reform of the decree, according to an amendment approved Wednesday. Source Ansa
Authorities in western Greece said Tuesday that four people were arrested after the coast guard intercepted a yacht transporting 36 migrants illegally to nearby Italy. Source Ekathimerini
Acting Secretary of Defense Christopher Miller announced Tuesday that the US will withdraw thousands more US troops from Afghanistan and Iraq by January 15, 2021 — just days before President-elect Joe Biden takes office, confirming plans first reported by CNN on Monday. Source CNN
Large crowds protested in Berlin against the German government’s push to enshrine coronavirus restrictions into an existing law. Police intervened as the crowds sought to approach the parliament. Source Deutsche Welle
The new coronavirus was circulating in Italy in September 2019, a study by the National Cancer Institute (INT) of the Italian city of Milan shows, signaling that it might have spread beyond China earlier than thought. Source Reuters
The Spanish-controlled Canary Islands off the coast of Morocco are receiving an unprecedented influx of irregular migrants.
The Spanish government is reportedly planning to deliver 130 vehicles to Morocco’s Ministry of the Interior to help improve the country’s efforts against irregular migration. Source Morocco News
German ship had to abort inspection of Turkish vessel following protest from Ankara. The German government voiced concern after Turkey stopped the inspection of a suspicious vessel off the Libyan coast, which German forces had boarded as part of an EU-led arms control mission.
On Sunday, the German frigate “Hamburg,” which is in the Mediterranean as part of the EU’s Operation Irini to enforce the U.N. arms embargo on Libya, stopped the Turkish vessel “Rosaline A” about 200 kilometers off the coast because of suspicions that arms were being transported. Source Politico
China will respond to the reported visit of a U.S. Navy admiral to Taiwan and firmly opposes any military relations between Taipei and Washington, the Chinese Foreign Ministry said on Monday as a senior U.S. official praised their ties with Taipei. Source Reuters
French Interior Minister Gerald Darmanin said foreign families who object to caricatures of the Prophet Muhammad being shown in schools could face deportation.
Speaking to French Europe 1 Radio, Darmanin said the provocative caricatures are protected under free speech and those who ask teachers not to show the images will be sued. Source Daily Sabah
The new ships will replace four subs, some dating back to World War Two, to face the mainland’s fleet of 76. Washington is supplying missiles and attack drones, but not submarines so far. “Outside” forces are thought to be helping Taiwan build its submarines. Source AsiaNews
The Sweden Democrats are now once again Sweden’s largest party by a good margin. Party leader Jimmie Åkesson believes that it is due to the Social Democrats’ strategy against corona infection, Nyheter Idag reports. Source Fria Tider
The move involves about 150 aircraft and follows the disappearance of a jet minutes after takeoff on Tuesday. Taiwan has grounded all of its F-16 fighter jets for safety inspections as it continues to search for a plane after it went missing during a training exercise on Tuesday night. Source Al Jazeera
French President Emmanuel Macron said the UN Security Council no longer provides good solutions to global problems, in remarks published on Monday, and called for an overhaul of international cooperation mechanisms. Source The Local
The Council of State, which rules on disputes over public policies, said that “while France has committed itself to reducing its emissions by 40 percent by 2030 compared to 1990 levels, it has, in recent years, regularly exceeded the ‘carbon budgets’ it had set itself.” Source RFI
A cap on migrant workers contained in a previous decree by League leader Matteo Salvini is to be removed in the reform of the decree, according to an amendment approved Wednesday. Source Ansa
Authorities in western Greece said Tuesday that four people were arrested after the coast guard intercepted a yacht transporting 36 migrants illegally to nearby Italy. Source Ekathimerini
Acting Secretary of Defense Christopher Miller announced Tuesday that the US will withdraw thousands more US troops from Afghanistan and Iraq by January 15, 2021 — just days before President-elect Joe Biden takes office, confirming plans first reported by CNN on Monday. Source CNN
The European Commission issued on Wednesday a warning to Athens that the market support measures during the pandemic should not be excessive so that they do not jeopardize the sustainability of the public debt. It also highlighted that the debt will remain at risk unless growth is supported, which makes it imperative that reforms continue and the Next Generation EU resources are put to full use. Source Ekathimerini
The investment will extend a subsidy for electric vehicles and attempt to secure jobs that are in jeopardy due to the coronavirus pandemic. The announcement follows talks between Chancellor Merkel and industry heads. Source Deutsche Welle
Rome is preparing a new spending package worth 15-20 billion euros likely to be presented this week which will push up the deficit in 2021, one of the sources said, asking not to be named. Source Investing
The two countries have followed through on their threat to block spending plans through to 2027. The EU needs a unanimous vote from all 27 members in order to pass the budget and coronavirus economic recovery fund.
Hungary and Poland blocked approval of the EU’s long-term budget on Monday, diplomatic sources revealed. The spending plans also include a €750-billion ($888 billion) coronavirus rescue package. Source Deutsche Welle
The presidency of Joe Biden paves the way for a deal between Germany and the United States to resolve the conflict over Nord Stream 2 and complete its construction in exchange for the EU commitments to expand LNG purchases from the US, Simonas Vileikis, a Brussels political adviser to the British consulting company Portland Europe, told TASS on Monday. Source TASS
The governor of the Bank of France, Francois Villeroy de Galhau, on Monday estimated France’s economy to contract by between 9 and 10 percent this year, worse than his previous estimate of 8.7 percent.
“Before the second wave we thought we would have a recession of a bit less than 9 percent. We now expect that for the whole of 2020 we will be between minus 9 and minus 10 percent,” de Galhau told RTL radio.
“Our estimate…will of course depend on the continuation of the confinement,” he added. Source Xinhuanet
Greece achieved a record low interest rate for a 13-week treasury bill auction on Wednesday, as it raised 812.5 million euros at a negative 0.20% interest.
The original issue of €625 million was more than twice oversubscribed, with bids at €1.344 billion and a coverage ratio of 2.10. Source Ekathemirini
France will end 2020 with a public deficit of 248 billion euros (223.25 billion pounds), or 11.3% of its economic output, junior economy minister Olivier Dussopt said in an interview published on Sunday. Source Reuters
Russian pipe-laying vessel Akademik Cherskiy, expected to be used to finish the Moscow-led Nord Stream 2 gas pipeline, is heading towards the German project hub of Mukran, Refinitiv Eikon data showed on Monday. Source GCaptain
- The latest statement from the ECB suggests that policymakers will adjust their monetary policy based on upcoming forecasts due in December.
- The pre-commitment comes at a time when France and Germany have announced new nation-wide lockdowns.
- “The door for December action is wide open. Let’s hope that the situation doesn’t worsen further so that the ECB has to rush through the door earlier than planned,” Carsten Brzeski, global head of macro at ING, said. Source ECB
The Public Debt Management Agency (PDMA) announced on Tuesday it successfully auctioned six-month treasury bills at a historic low interest rate of minus 0.12%. The 26-week T-bill auction was originally planned to fetch 625 million euros. Source Ekathemirini
