EUROPEAN HEADLINES
WSJE – HSBC to cut headcount by 50,000. HSBC Holdings PLC said it would reduce its headcount by up to 50,000 as part of a global overhaul to improve the profitability of its sprawling operations
INYT – Voices rise against trade pact with Europe. Opposition in Germany grows as populist effort sees a darker side to deal.
FRANCE
Le Monde – Labour market: Valls makes concessions to small businesses. Tuesday morning, Manuel Valls was to announce a series of measures to help SMEs and smaller companies “get their feet off the brakes on recruitment.”
Les Echos – Employment: the real changes for SMEs. The Prime Minister announced on Tuesday new measures to support employment. Despite the fact that it was well accepted by the parties, this plan is deemed cautious and its impact on employment remains uncertain.
GERMANY
Frankfurter Allgemeine (FAZ) – Creditors upset about new Greek reform proposals. Tsipras says national bankruptcy would be the beginning of the end of the euro area.
Sueddeutsche Zeitung – NSA spy list to remain under tight wraps. The Chancellor’s Office wants tokeep keyword terms secret, which the BND used to spy on behalf of the US Secret Service. Only a trusted third party is to be allowed to have an insight.The SPD wants more.
ITALY
La Repubblica — Ignazio Marino besieged, the scandal of Mafia capital goes on. The Roman Democratic Party’s leader submits his resignation. As scandals of fake public tenders in Rome are still shaking the country and arrests are multiplying, the city’s Mayor, Ignazio Marino, was besieged yesterday by M5S activists calling for his resignation.
Il Sole 24 Ore – Germany’s stock market is stuck in reverse gear. Black day for European Stock Markets. DAX index has fallen more than 10% since its mid-April high. Today, Angela Merkel and Alexis Tsipras will meet to find a solution to the Greek debt issue.
POLAND
Gazeta – Major leak of documents. Zbigniew Stonoga, businessman with criminal past, published on the Internet some 2500 pages of acts from the investigation into the tapping scandal in Poland, including sensitive data and names of secret agents. Secret services and prosecutors have not exercised their powers to hamper the publication.
SPAIN
El Pais – Ciudadanos forces PP and PSOE to give up in Madrid and Andalusia.The two parties agree to limit terms in both regions.
Expansion – Merlin, new leader in the Spanish real estate sector. The company will pay Sacyr €1.79 billion to purchase Testa and create a €5.5 billion giant company.
UK
The Times – David Miliband: my pain over Ed’s Labour failure. Times investigation reveals anger at heart of disastrous campaign.
The Guardian – Osborne turns to “Micawber” economics. Plan for permanent budget surpluses and only “exceptional” borrowing.
