European Headlines

FT – Knife-edge bidding war for USD 21 billion biotech group fuels pharma frenzy. AbbVie victory over Johnson & Johnson. Valuation rise as deal making gathers pace.

WSJE – China’s long, slow road to reform. A new Chinese policy plan that promotes a shift to an economy driven by consumers and entrepreneurial vigor also recognizes that the transition from state spending and smokestack industries is years away.

INYT – For two radicals, parallel roads. Islamist and Neo-Nazi offer lessons for Europe in countering extremism.

France

Le Monde – Respite for the French economy. Profits of the CAC 40 companies grew by 1/3 in 2014, and signs of recovery are multiplying.

Les Echos – Growth: the ECB’s rose-tinted outlook for Europe. The central bank bets on a 1.5% rise in GDP across the eurozone for 2015, followed by 1.9% in 2016. Mass debt purchases start on Monday. Euro at lowest rate in 12 years, at less than 1.10 against the dollar.

Germany

Frankfurter Algemeiner – Li Keqiang speaks of deep-seated problems of our economic model. Chinese Prime Minister lowers growth targets and alludes to “grave” environmental issues.

Suddeutsche Zeitung – Tsipras calls Junker for help. Greece’s financial needs are so high that government employees are no longer paid. The Greek Prime Minister thus asked the European Commission for an immediate meeting, but was asked to wait.

Italy

La Republica – Draghi approves ECB plan; the time of recovery has come. Mario Draghi announced the launch of a bond buying scheme, at a monthly rate of €60 billion. The stimulus plan will start on Monday, 9 March.

Il Sole 24 Hora – ECB launches QE programme on Monday. Starting from 9 March, Mario Draghi will purchase €60 billion in bonds per month. This scheme should consolidate growth and the ECB president revises upwards his estimates on EU GDP: 1.5% this year and 1.9% in 2016.

Poland

Gazeta – Civil war over coal. Being on a verge of bankruptcy, Kompania Węglowa sells its coal at half price. Private investors are concerned that the price war will kill the whole industry so they seek help from the Minister of State Treasury, the UOKiK competition office and even Brussels.

Spain

El Pais – Ruz to bring 40 company heads and PP leaders to trial in the Gürtel case. The judge sets a total of €449 million in bail. Ana Mato and the Popular Party will stand accused in court.

Expansion – Mercadona grew by 5% and reached a turnover of €20 billion. The company’s sales increased by 2% and profits reached €543 million due to the increase in productivity.

UK

The Times – Defence spending freeze stirs new Tory rebellion. Levels set to fall below Nato target after election.

The Guardian – PM told: stop cowering over TV debates. Broadcasters urged to use empty chair if Cameron refuses to take part.

©europeanunion2015