04/11 – Today’s headlines from across the EU

EUROPEAN HEADLINES

FT – Banks face capital call for commodity disaster costs. Gulf spill sparks Fed catastrophe fears. Wall Street reviews physical trading role.

WSJE – New VW exhaust problem. Auto maker admits understating carbon dioxide releases on some gas-powered cars.

INYT – Use of coal in China is much higher than thought. Discrepancy of up to 17% adds new complication to Paris climate conference.

BBC – Romanian PM resigns over fire. Romanian Prime Minister Victor Ponta has resigned, a day after some 20,000 people took to the streets to protest over a nightclub fire that left 32 people dead.

BALTIC STATES

Baltic Times – Grybauskaite calls for increased NATO deterrence in Baltic region. Today will see Lithuanian President Dalia Grybauskaite attend the Central European Summit in the Romanian capital of Bucharest. The meeting will seek additional NATO capacities to deter Kremlin aggression in the region.

FRANCE

Le Monde – The Secrets of the Vatican. “Le Monde” publishes extracts from Gianluigi Nuzzi’s “Via Crucis,” relating the war between the Pope and the Curia.

Les Echos – Employment: the new face of France. Insee published data on unemployment in the thirteen new French regions. The crisis has widened economic gaps and employment is mostly centralised in major cities.

GERMANY

Frankfurter Allgemeine (FAZ) – Coalition expresses willingness to reach an agreement on refugee issue. Merkel: people should be able to say, at that time, we have done well.

Sueddeutsche Zeitung – Google wants to deliver packages with drones. From 2017, the group plans to service US customers from the air. The German postal service is considering expanding deliveries in remote areas.

ITALY

La Repubblica – New measure: divisions between Renzi and Bank Italia on IMU. According to Renzi, it is fair to cut housing-tax. The Prime Minister should also return €500 million to regional governments denouncing a lack of budget.

Il Sole 24 Ore – China opens up to foreign capital; the RMB to be fully exchangeable by 2020. With an annual growth of 6.5%, promises of reforms in multiple sectors, President Xi Jinping has launched its 2016-2020 five-year programme. The objective is to double 2010’s GDP.

IRELAND

Irish Independent – Russian crash: Mystery deepens as Russians report no explosive residue found on bodies of victims. Cockpit recordings reveal “uncharacteristic sounds” in final moments of disaster in Sinai which killed 224 people

MALTA

The Times of Malta – Malta suspending Schengen agreement until December 3. Government says Schengen arrangements still in force.

NETHERLANDS

Nos – Cabinet completes mini reshuffle, Martijn van Dam to economic affairs. King Willem-Alexander will swear in two new junior ministers on Tuesday evening: Sharon Dijksma at the infrastructure ministry and Martijn van Dam to replace Dijksma at economic affairs.

POLAND

Gazeta Wyborcza – Dark cash of Vatican. The Vatican is a financial Augean stables. Pope Francis is trying to clean it, but he is encountering major resistance from some of his subordinates, it has emerged from two new books based on Vatican leaks.

SPAIN

El Pais – Imminent election prevents possible pact on Catalonia. The PP, the PSOE and Ciudadanos will make a gesture of unity, but will not make a joint statement.

Expansion – Santander wants to attract SMEs with its “Cuenta 1,2,3.” The bank offers companies and independent workers best loans and bonuses.

The Times – Judges get right to veto anti-terror operations. Ministers face overrule in privacy climb-down.

The Guardian – Hunt to offer junior doctors 11% pay rise. Health secretary makes concessions to head off strike threat over contract.