EUROPEAN HEADLINES
FT – Battered Glencore unveils plan to cut $10 billion from its debt pile. “Insurance” against commodity price falls. Balance sheet “pitched for Armageddon.”
WSJE – Share migrant burden, Merkel says. Europe’s continental divide over how to handle a wave of migration unprecedented in almost seven decades showed no sign of narrowing on Monday.
INYT – Leaders say they’ll offer increased aid to migrants. France and Britain vow to accept asylum seekers; Germany pledges billions.
FRANCE
Le Monde – Brussels asks France to take in 24,000 refugees. The European Commission proposes that France takes in 24,000 of the 120,000 refugees to be distributed throughout the Union.
Les Echos – Labour law: possible shock-therapy reforms. “Les Echos” unveils the Combrexelle mission’s recommendations on Labour law. The scope of the law might be lowered to play less of a role than branch or company agreements.
GERMANY
Frankfurter Allgemeine (FAZ) – Merkel says flow of refugees requires national effort. Coalition Head decides to launch extensive measures; Federal states are demanding more money.
Suedeutsche Zeitung – London and Paris want to show solidarity. France agrees to take over 1,000 refugees from Germany. Prime Minister David Cameron promises to let about 20,000 people enter the country until 2020 – as many people as arrived in Munich within two days.
ITALY
La Repubblica – Refugees: 40,000 will leave Italy; Renzi “no raids in Syria.” Germany, France and Spain will take in most of the asylum seekers who have made it to Europe in the past few months. Decision to be confirmed by the European Commission.
Il Sole 24 Ore – China downgrades its GDP and Bank of China reserves are decreasing. Beijing slightly decreases its growth perspective from 7.4% to 7.3%. Shanghai Stock Exchange closed at -2.5%; European stock markets are doing well.
POLAND
Gazeta Wyborcza – Do we want immigrants? A survey finds that 53% of respondents see solidarity with refugees from the Middle East and Africa as their moral duty. 22% however, believe that Poland should not take in any immigrants whatsoever.
SPAIN
El Pais – The refugee crisis forces countries to plan bombings on Syria. François Hollande announces reconnaissance flight to fight against the IS. David Cameron defends drones operation against jihad leaders. The Spanish government supports the offensive but thinks that it is necessary to talk with Assad.
Expansion – Villar Mir relaunches OHL. The company will provide €500 million to the capital increase.
UK
The Times – British jihadists killed by RAF drone in Syria. Militants targeted as Cameron pledges to take in 20,000 refugees.
The Guardian – Cameron: I approved drone killing of UK jihadist in Syria. PM faces questions, but insists Isis fighters were legitimate targets.
@europeanunion2015
