EUROPEAN HEADLINES

FT – Beijing cuts interest rates in bid to revive economy. Chinese equities fall a further 7.6%. US and Europe stock make up losses.

WSJE – Islamic State displays its destructive intent at Palmyra temple. An undated image from a video released Tuesday by Islamic State shows an explosion at Baal Shamin temple in Syria’s ancient city of Palmyra. The extremist group claimed it had destroyed the temple, a week after announcing the beheading of an antiquities scholar.

INYT – Market crash makes nary a sound in State media. Top party newspapers and TV avoid mention, following Beijing’s rules.

BALTIC STATES

Baltic Times – Bankruptcy proceedings start against Air Lituanica. On August 25, 2015, Vilnius Regional Court started bankruptcy proceedings against Air Lituanica. The recently defunct airline is indirectly owned by the city of Vilnius, and was set up by the former municipality of the Lithuanian capital.

FRANCE

Le Monde – The stock market crack puts the Chinese regime to the test. After a “Black Monday” in worldwide stock markets, Shanghai’s market plunges again on Tuesday 25 August.

Les Echos – Employment, deficit, charges: the MEDEF’s emergencies. The summer workshop of the management lobby MEDEF starts this Wednesday. Employers say they are reassured about the lowering of employee-related expenses but want more reforms. The reshaping of the labour market is considered of the highest priority.

GERMANY

Frankfurter Allgemeine (FAZ) – Schäuble: costs of refugees are no burden to the budget of Federal States. Merkel and Gauck visit reception facilities; far-right threatens SPD.

Suedeutsche Zeitung – Increased monitoring of intelligence services. After the series of scandals, the two major German political parties have decided to place a “permanent expert” at the head of a new authority that will improve the oversight of Parliaments over intelligence services.

ITALY

La Repubblica – Chinese central bank cuts interest rates, stock markets are divided. Renzi: “Abolition of IMU and TASI in 2016.” European stock markets weather the Chinese crisis better than Wall Street. The Italian PM, Matteo Renzi, vowed to abolish property tax and municipal service tax by 2016.

Il Sole 24 Ore – Beijing cuts lending rates, optimism in stock markets everywhere. Milan: +5.86%. After the Shanghai stock exchange crash last week, China’s central bank has cut interest rates by 0.25% and has reduced by half the reserve ceiling imposed on banks. Stock markets rallied worldwide at the news.

NETHERLANDS

De Volkskrant – Dutch MPs from across the political spectrum are demanding answers on the European Commission’s decision to stop sending them details of the negotiations over the Transatlantic Trade and Investment Partnership (TTIP). The aim of the proposed free trade deal between the EU and US is to cut tariffs, standardise regulations and simplify investment, but it is facing strong resistance from consumers and others who are worried about the impact on Dutch suppliers and food safety standards.

POLAND

Gazeta Wyborcza – Duda surprised Berlin and Warsaw. Speaking of the priorities of President Andrzej Duda’s visit to Berlin, his bureau says he will concentrate on Ukraine and Poland’s role in the peace-seeking process. Berlin refuses to invite Poland to the negotiation table and instead will talk it into accepting immigrants and safeguarding the EU’s borders.

SPAIN 

El Pais – China intervenes to revive its economy and contain the crisis. Beijing’s central bank lowers interest rates. European stock exchanges rise again but the drop continues in the US.

Expansion – Iberia defeats Air France as leader of Latin America. The Spanish airline takes back the reins after the opening of new air routes and the strengthening of others.

UK

The Times – The great hospital shop rip-off. Retail giants accused of exploiting patients with inflated prices.

The Guardian – Chilcot report will widen the blame for Iraq. Inquiry will target intelligence chiefs as well as ministers and Blair’s circle.

©europeanunion2015