EUROPEAN HEADLINES

FT – Sale of RBS stake marks start of the UK’s biggest privatisation. Chancellor George Osborne has kicked off Britain’s biggest privatisation by selling £2bn of shares in Royal Bank of Scotland at a loss to the taxpayer seven years after the bank was rescued with a record £45bn state bailout.

WSJE – China’s Response to Stock Rout Exposes Regulatory Disarray. Poor coordination in responding to market plunge prompted Premier Li Keqiang to chastise officials at July 4 meeting. Conflicting moves and a lack of coordination hampered Beijing’s initial response to its stock-market rout, raising questions about whether Chinese authorities will be up to the challenge of implementing market changes.

FRANCE

Le Monde – UK wants to toughen legislation against migrants. In a country where the subject of immigration is now the major concern, London wants to be seen as resolute on the issue of migrants. The British government proposed Monday, August 3, new measures to control the influx of illegal migrants at the entrance to the Channel Tunnel and to prevent their attempts to enter Britain.

GERMANY

Frankfurter Allgemeine – Range criticized for “interference with the independence of the judiciary”. Attorney General Range goes on the offensive: In the dispute over the crackdown Netzpolitik.org he complains of influence by the Ministry of Justice.

ITALY

La Repubblica – Senate gives green light to public administration reform. Senate approved with 145 for and 97 against. Premier Matteo Renzi welcomes the vote.

POLAND

Gazeta – Church wants millions more for schools.

SPAIN

El Pais – Number of registered unemployed falls by 74,028 people in July. Improvement owes much to seasonal hires, however, in tourism and agriculture sectors.

UK

The Guardian – Alan Johnson backs Yvette Cooper for Labour leadership. Support of Johnson, who is respected across party, is major boost to shadow home secretary’s campaign