EUROPEAN HEADLINES
FT – Emerging markets rocked by $1 trillion capital flight as confidence slumps. Outflows double those of financial crisis. China devaluation threatens fresh exodus.
WSJE – Fall in yuan brings tide of losses. When China’s government abruptly pressed the yuan lower last week, it upended Antonio Huang’s plan to quintuple a profit on a commodity deal.
INYT – Pain deepens for Russians as the rouble drops badly. But Putin’s popularity is unscathed by decline in standard of living.
FRANCE
Le Monde – Investigation into people recently converted to Islam. The over-representation of converted among Jihadists masks a different reality. Conversion is first and foremost an identity or spiritual quest.
Les Echos – Growth: when the Asian engine grinds to a halt. Besides China, the whole region appears to be heading for a slowdown. China yuan’s devaluation further weakens emerging economies.
GERMANY
Frankfurter Allgemeine – Bavarian Secretary of Health and Human Services says “up to 700,000” Asylum seekers are to be expected in Germany in 2015. Neither the Federal Interior Ministry nor the Federal Office for Migration and Refugees (BAMF) commented these figures.
Sueddeutsche Zeitung – Number of refugees to peak. The Federal government had to significantly correct its forecast for 2015: up to 750,000 people applying for asylum are now possibly expected.
ITALY
La Repubblica – Galantino declares politicians as corrupted. The General Secretary of the CEI (Italian Episcopal Conference), Nunzio Galantino, has denounced politics as a mosaic of personal ambition, corruption and craftiness.
Il Sole 24 Ore – Chinese stock market under strain, Shanghai loses 6%. The Chinese stock market is having difficulties with Shanghai losing -6,1% in a day, after the central bank flooded the market with liquidity to stem the outflow of funds following the devaluation of the yuan.
POLAND
Gazeta Wyborcza – Election drought. Poland has waited for rain for two months already, to no avail though as heat pours down from the sky and the Vistula river in Warsaw can be walked on foot from one river bank to another. Agricultural trade unions appeal to the Government to announce a drought disaster in Poland.
SPAIN
El Pais – The PP impedes the debate on European reform as proposed by the PSOE. The Congress approves the €10 billion contribution to the Greek rescue despite the opposition of the left-wing alliance.
Expansion – Largest exporter. Sales abroad increased by 5% in the first half, to reach €125 billion. Exportats to EU countries grew by 6.8%, representing 65% of the total amount. Capital goods and car industry are the leading sectors.
UK
The Times – Give out e-cigarettes free on the NHS, doctors told. Health experts claim move could save 75,000 lives per year.
The Guardian – Bottom of the class in pupil well-being table. Study shows children in England less happy than peers in all but one nation.
©europeanunion2015
