EUROPEAN HEADLINES 

FT – G7 in historic accord to phase out fossil fuel emissions this century. $100 billion pledge to poor countries reaffirmed. Huge challenge for energy companies.

WSJE – Lenders offer to extend Greek bailout. Greece and its creditors are discussing an extension of the country’s bailout programme until the end of March 2016, people familiar with the negotiations said, an offer aimed at prodding the government in Athens to agree to painful concessions in exchange for aid.

INYT – Crisis issues overshadow Obama goals for summit. G7 agenda consumed by security threats in Russia and Middle East.

FRANCE

Le Monde – Fake Sacred-Union with Hollande to save 2017 campaign. At the congress in Poitiers, Manuel Valls and the PS rallied unequivocally behind François Hollande as candidate for the 2017 general election.

Les Echos – Employment, lowering of labour charges: the Medef raises the alarm. Interview with “Les Echos” of Pierre Gattaz. He opposes any reconsideration of labour charges and ensures he is doing his best to boost employment. Labour-Court related allowances to be capped.

GERMANY

Frankfurter Allgemeine (FAZ) – Industrialised countries strive to end the coal age. Environmental groups praise G7 decisions; world leaders issue warning to Russia.

Suedeutsche Zeitung – Farewell to coal, oil and gas: G7 announces new era. In order to stop global warming, G7 states promised radical energy conversion during the next decades.

ITALY

La Reppublica – Compensations for municipalities hosting migrants. Divisions between Northern and Southern regions. While the First Secretary of the North league, Matteo Salvini, threatens to occupy prefectures to prevent migrants from coming, the PM, Matteo Renzi, claims that municipalities hosting migrants will be rewarded.

Il Sole 24 Ore – Stock market starts trading in the red amid fears of Greek debt repayment issues and Turkey’s election results. The recent setback suffered by AKP in the Turkish elections has seriously shaken Istanbul Stock market; Turkish lira hits record low.

NETHERLANDS

Financieele Dagblad – The country’s biggest trade union federation, the FNV, is calling for a moratorium on further reforms in the social security sector. In particular, the development of a new system to cover invalidity benefits and sick pay for freelancers should not go ahead, the union says

POLAND

Gazeta – PiS prepares for a change of “election face”. Jarosław Kaczyński as the Sejm Speaker and Beata Szydło as Prime Minister? This is one of the options following autumn Parliamentary elections that PiS will win. Its politicians have no doubts about that.

SPAIN

El Pais – Sanchez asked Rajoy not to prepare new laws before the election. The PSOE leader said that he would abolish them should he win the general election. The PP accuses him of being radical.

Expansion – Vulture funds go for renewable energy now. Blackstone, NextEnergy and Springwater forecast important price falls.

UK 

The Times – Cameron backs down as MPs revolt over EU.David Cameron was forced into an embarrassing climbdown yesterday after facing his first serious revolt since the election over whether ministers will be allowed to campaign to leave Europe.

The Guardian – HSBC moves to cut 25,000 jobs globally. Branch closures in the UK and six other major markets are among cost-saving measures to be detailed as chief executive Stuart Gulliver briefs shareholders.

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