EUROPEAN HEADLINES
FT – Volkswagen emission test cheating rocks Europe’s car manufacturers. Volkswagen shares drop 20% with investigations set to widen. Industry faces “Libor moment.”
WSJE – Volkswagen crisis grows. Stock tumbles as European Union vows to look into the car maker’s test practices.
INYT – A way station becomes a home, of sorts. Grit and global aid bring a sense of permanence to a Syrian refugee camp.
FRANCE
Le Monde – Greece approves Tsipras’ policies of reforms and austerity. Syriza won the legislative election on Sunday 20 September. The government should be constituted on Tuesday.
Les Echos – The Volkswagen scandal. The key issues of a sophisticated manipulation. A case which could further weaken the Volkswagen Empire. In Europe, emissions tests also lead to suspicion.
GERMANY
Frankfurter Allgemeine – Testing scandal rushes Volkswagen into crisis. The carmaker’s stock drops 20%.
Suedeiutsche Zeitung – Fraud – made in Germany. The emission test manipulation discredits the German company and puts the entire industry under general suspicion.
ITALY
La Repubblica – The Democratic Party approves the Constitution reforms, a minority abstain. The Head of the DP approved, yesterday, by a large majority, Renzi’s report on the reform of the Senate and the Constitution. However, discrepancies remain and a minority abstained.
Il Sole 24 Ore – VW scandal shakes Stock Markets. Volkswagen share collapses, -18, 6%, following the scandal of CO2 emission’s falsification in the U.S. Yesterday, Martin Winterkorn, Volkswagen CEO apologised for “betraying the trust of consumers.” The company is liable to a fine of $18 billion.
POLAND
Gazeta Wyborcza – President Duda supports PiS in its march for power. President Andrzej Duda announced a draft bill that restored the previously binding retirement age – 60 years for women and 65 years for men. The bill is seen as devastating to State budget and the value of pension benefits as such.
SPAIN
El Pais – Economic risks of independence in the finishing straight line. Mas warn that Catalonia may not pay its share of the country’s debt if the government refuses to negotiate independence. Bank of Spain warns against the danger of a “corralito.”
Expansion – Linde: “Risk of ‘corralito’ if Catalonia gains independence.” Bank of Spain’s governor warns that the region would automatically be ejected from the Eurozone.
UK
The Times – We went too far over VIP sex abuse, police admit. Met was wrong to say Westminster murder allegations were “credible and true.”
The Guardian – The revenge of Lord Ashcroft. Peer who had given the Tories £8m hoped for a senior job in Cameron’s team after the 2010 election. When it didn’t come, he went looking for revelations.
©europeanunion2015
