EUROPEAN HEADLINES

FT – VW told to overhaul governance structure after emission scandal. Call for big shareholders to give up board seats. Moody’s downgrade adds to pressure.

WSJE – UK: bomb may have downed jet. Flights are halted as officials say Egypt crash could be due to “explosive device.”

INYT – Wintry seas fail to slow migrant rush to Europe. Sense of “now or never” fuels exodus as political solution fails to emerge.

BBC – Russian plane crash: Moscow urges caution on the cause.Theories about the cause of a Russian airliner crash in Sinai that killed 224 passengers are “speculation” at this stage, the Kremlin says.

FRANCE

Le Monde – Hollande gives up as voters express exasperation at fiscal reforms. The government has decided to exempt pensioners with a low income from paying local taxes, to postpone the reform on municipalities and to give up the tax on handicapped adults.

Les Echos – Volkswagen: a never ending scandal. Emissions scandal spreads to petrol engined-powered vehicles. Over time, the cost is increasing for the group, as well as the risk of contagion.

GERMANY

Frankfurter Allgemeine – Federal Government puts pressure on Volkswagen. Group admits new frauds. Critics towards Federal Motor Transport Authority KBA. Share price down.

Suedeutsche Zeitung – The EU wants Europe to monitor vehicle registration. The Commission draws its conclusions from the VW affair. Brussels accuses national authorities of failure.

ITALY

La Repubblica – Mafia-State: Mannino acquitted. In the Mafia-State case, former Minister Calogero Mannino, accused of organising collaboration between State institutions and the Cosa Nostra Mafia organisation, was acquitted. This collaboration allegedly led to the 1992 bomb attacks.

Il Sole 24 Ore – Fed moves towards rates rise. Race to dollar on markets. Euro falls below 1.09 dollar as Fed Chief Janet Yellen says December rate rise is “appropriate.”

POLAND

Gazeta Wyborcza – Cutting OFE was legal. The Constitutional Court has issued a verdict, judging that the government was authorised to take the money from the Open Pension Funds (OFE), and to force Poles to choose again between the OFE and Social Insurance Institution (ZUS). However, it was not entitled to ban the funds’ advertising.

SPAIN

El Pais – NATO warns of imminent danger in the Mediterranean. The Alliance speeds up the purchase of surveillance drones to protect Southern countries.

Expansion – Rajoy:  “Income tax has to fall to under 43%.” The President also promises a new drop in corporate tax.

UK

The Times – Flights grounded over fears Isis blew up jet. Thousands of British tourists stranded in Egypt. Diplomatic row as president arrives in UK.

The Guardian – UK grounds flights to Egyptian resort as Sinai bomb fears grow. The British government has suspended all flights between the UK and the Egyptian resort of Sharm-el Sheikh after declaring it believes the Russian plane that crashed over Sinai may have been brought down by an explosive device.

©Europeanunion2015