07/04 – Today’s headlines from across the EU

EUROPEAN HEADLINES

FT Europe – Collapse of Pfizer-Allergan deal sends shockwaves through US. Value of failed M&A highest since crisis. Watershed tax-inversion win for Washington.

WSJE – Offshore services in focus. Leaked documents draw attention to expanding sector.

INYT (IHT) – Saudi project offers hope to those who can’t afford it. Funded by royal family, doctors perform surgeries to split conjoined twins.

BBC Europe – Netherlands rejects EU-UKraine partnership deal. Voters in the Netherlands have rejected in a referendum an EU partnership deal to remove trade barriers with Ukraine.
Turnout was low, 32.2%, but above the 30% threshold for the vote to be valid. The deal was rejected by 61.1% of votes, compared with 38.1% in favour. Prime Minister Mark Rutte said the government may have to reconsider the deal, although the vote is not binding.

FRANCE

Le Monde – The French people who hide their fortunes on islands. Companies and families with large fortunes have set up tax evasion mechanisms.

Les Echos – Withholding tax: barriers still impacting the reform. The vote on the withholding tax reform has been postponed until next autumn, and several obstacles remain. The Finance Ministry revises downward its inflation forecast to 0.1% and needs an extra €3.8 billion savings.

GERMANY

Frankfurter Allgemeine Zeitung (FAZ) – Seehofer demands a change of course from Christian Democrats. Criticism on abolition of border controls with Austria. “Autocratic style of government.”

Sueddeutsche Zeitung – UEFA raided because of the Panama Papers. The Swiss Federal Police raided the association’s headquarters. FIFA Ethics Commissioner resigns. China’s authorities block websites on the revelations. In Iceland anger of citizens is growing.

ITALY

La Repubblica – Waiting lists: 2 million had no other choice but to pay bribery. Cantone: “mafia and corruption inside hospitals.” More than 6 billion gone. Renzi: new take-off for Bagnoli. Clashes on the piazza, argument with De Magistris.

Il Sole 24 Ore – Reform of the BCC approved; guaranties for banks on the non-performing loans. Padoan: the system is solid but is going to be reinforced. Markets are careful.

POLAND

Gazeta Wyborcza – Zbigniew Ziobro intimidates judges. The Constitutional Court has issued a ruling but Polish authorities do not recognise it. Prosecutor General Zbigniew Ziobro intimidates the Tribunal’s judges thus exacerbating the constitutional crisis.

SPAIN

El País – Three-way talks opens amid reproaches and mistrust. Sanchez and Junqueras’ secret meeting triggers Ciudadanos’ mistrust. At Parliament, Iglesias and Rivera throw each other violent charges.

Expansion – Pierre Moscovici, EcoFin Commissioner: “Brussels is preparing a list of tax havens.” The commissioner urges EU governments to react firmly to the Panama Papers scandal.

The Times – Cameron to target 27m homes with pro-EU post. David Cameron threw the full weight of the government machine behind the campaign to remain in Europe last night by announcing a taxpayer-funded leaflet to be sent to 27 million homes.

The Guardian – Panama Papers reveal offshore secrets of China’s “red nobility.” Disclosures show how havens such as British Virgin Islands hide links between Chinese big business and relatives of top politicians.