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Daily Press Summary Spanish government to unveil new austerity budget amid continuing protests; Catalan President: Referendum on independence will happen with or without Madrid’s consentThe Spanish government will today unveil its draft budget for 2013 and a set of reforms previously discussed with the European Commission. Meanwhile, anti-austerity protests continued in Madrid yesterday, with three more people arrested. According to sources from the Spanish Economy Ministry quoted by El País, the stress tests of the Spanish banking sector will put the total capital needs of Spanish banks at around €55bn – meaning that the government will look for a €40bn loan from the EFSF, the eurozone’s temporary bailout fund. The Bank of Spain yesterday warned that Spanish GDP is continuing to fall “at a significant pace” in the third quarter of the year, Cinco Días reports. Separately, Catalan President Artur Mas yesterday said that Catalans must be consulted on independence even if “the [central] government turns its back and does not give its authorisation.” La Vanguardia reports that the Catalan parliament will today vote on a resolution pledging to “consult” Catalan citizens during the next parliamentary term. Open Europe’s Raoul Ruparel appeared on LBC Radiothis morning, discussing the political and economic situation in Spain. ABC El Mundo 2 FT WSJ WSJ: Heard on the Street City AM IHT Il Sole 24 Ore Times Telegraph RTVECinco Días El Mundo Expansión 2 El País FT 2 El País 3 El País 2 El Mundo 3 Expansión Cinco Días 2 El Mundo 4 Le Figaro Les Echos La Vanguardia Telegraph Telegraph: Evans-Pritchard Irish IndependentEuropean Voice More than 50,000 Greeks take part in anti-austerity rally; Reuters: IMF pushing for eurozone governments to take losses on Greek debtViolent clashes erupted in Athens yesterday, after more than 50,000 Greeks took part in an anti-austerity march. Greece’s three coalition leaders are due to resume talks on the €11.5bn austerity package for 2013-14 today. Separately, Reuters reports that the IMF is pushing for eurozone countries to write off some of the Greek debt they hold, whereas some eurozone leaders would prefer to give Greece more time to meet its adjustment targets. Kathimerini FT WSJ EUobserver Independent Reuters Guardian Il Sole 24 Ore Times La Stampa Corriere della Sera Le Monde Irish Times Bild Kathimerini 2 AFP Reuters Süddeutsche: Kornelius FAZ reports that the research services of the Bundestag have concluded that the transfer of banking supervision to the ECB may not be possible on the basis of an EU Regulation – as the latter would be transposed into German law directly, without the full involvement of the Bundestag. FAZ Welt According to EU officials quoted by Handelsblatt, Spain and Italy are resisting plans to introduce a financial transactions tax using so-called ‘enhanced cooperation’ – making it more difficult to reach the legal minimum of nine member states required for ‘enhanced cooperation’ to go ahead.Open Europe research Handelsblatt The WSJ reports that the Austrian Finance Ministry yesterday echoed the position expressed by Germany, Finland and the Netherlands on direct recapitalisation of eurozone banks via the ESM, the eurozone’s permanent bailout fund, arguing, “Recapitalisation should only occur for restructured, freed and viable banks.”WSJ Die Welt reports that former German Finance Minister Peer Steinbrück, one of the SPD’s most likely candidates for Chancellor in next year’s general elections, has proposed wide-ranging reforms of the banking sector, including an EU-wide €200bn bailout and resolution fund financed by the banks themselves. Welt The German government yesterday adopted a supplementary declaration establishing that any increase in Germany’s liability under the ESM – the eurozone’s permanent bailout fund – will have to be approved by the Bundestag. The move implements the recent German Constitutional Court ruling, and clears the way for the ESM to finally become operational on 8 October.Euractiv Reuters Welt FAZ WSJ: Steinhauser WSJ: Gallo City AM notes that the UK and Germany have criticised the European Commission for ignoring expert advice from EU financial markets watchdog ESMA on new short-selling and hedging rules. Only the UK and Germany intend to vote against the proposals, short of the number needed to block the Commission’s plans.Open Europe research City AM MEPs on the Economic and Monetary Affairs Committee yesterday approved a set of stricter rules on high-frequency trading which would, among other things, force trading venues and exchanges to impose a minimum half-second delay on executing orders, reports the WSJ.Open Europe research WSJ FT City AM Guardian The head of the EU’s anti-fraud office OLAF, Giovanni Kessler, has told AFP, “The European Commission plans to put out the text of regulation for the setting up of a European public prosecutor’s office next June.”Open Europe research EU Business Le Monde Asca A Cypriot official told Bloomberg that the EU/IMF/ECB Troika is unlikely to return to Cyprus to resume bailout talks until at least mid-October.Bloomberg In a letter seen by the FT, the French government has urged the European Commission to push ahead with plans to impose a 40% female quota on the boards of listed companies.FT La Stampa The front page of Handelsblatt reports that a paper by the German Economy Ministry is critical of the planned merger of aerospace giants EADS and BAE.  Handelsblatt Handelsblatt 2 EUobserver reports that MEPs on the Budgetary Control Committee have refused to sign off the 2010 accounts of the EU Council – the institution representing national ministers and EU leaders – over unanswered questions concerning the financing of its new Brussels headquarters and costs relating to setting up the EU’s new diplomatic service, the EEAS.  EUobserver ANSA