Britannia Radio

	Home   About Us   Multimedia   In The News   Events   Research & Analysis Media Centre Open Europe Berlin
New on the Open Europe Blog Beyond the simplifications, what is Margaret Thatcher's European legacy? Open Europe Blog Portugal: Yet again the eurozone crisis is butting heads with national democracy Open Europe Blog The UKIP factor and German politics: All eyes on Alternative für Deutschland  Open Europe Blog
Daily Press Summary OECD: Cost of fixing Slovenia’s banks could be significantly higher than estimated Reuters reports that the OECD has today warned that the cost of fixing Slovenia’s troubled banking sector could be “significantly higher” than estimated last year due to problems with the methodology used. The banking sector, mostly in state hands, holds about €7bn of bad loans – around 20% of the country’s GDP. The OECD also warned that public debt had more than doubled to 47% of GDP since 2008 and that this could rise to 100% by 2025 with no new reforms. Reuters Bloomberg Cyprus faces potential cash shortfall ahead of release of bailout fundsFamagusta Gazette reports that Cypriot Accountant General Rea Georgiou told the Cypriot Parliament’s finance committee yesterday that the country faces an €80m cash shortfall ahead of its bailout programme, with the money needing to be found by 29 April or certain government payments will need to be suspended. In response, Cypriot Finance Minister Harris Georgiades said that payments would only become an issue if there was a delay to the ratification of the bailout deal, adding that measures were being put in place to cover any gaps ahead of the first bailout tranche. Handelsblatt reports that capital flight from Cyprus in March amounted to €1bn, less than expected. CityAM Kathimerini Famagusta Gazette AFP Finanznachrichten.de Troika sets up additional visit to Portugal to check on reform programmeFollowing the rejection of certain budget cuts by the Portuguese Constitutional Court last week, the EU/IMF/ECB Troika has said it will schedule an additional visit to Portugal in the coming weeks to reassess the government’s progress in meeting the bailout targets. The next tranche of bailout funding is likely to be delayed at least until May due to the ruling, and possibly further if the government struggles to find the savings elsewhere. Belgian daily Het Nieuwsblad quotes Open Europe’s blog post discussing the court ruling in Portugal and its impact on the eurozone. Jornal de Negócios FT FT Lex FT Editorial CityAM WSJ WSJ Review & Outlook FAZ Süddeutsche Irish Times Welt Telegraph BBC European Voice Reuters Bersani agrees to meet Berlusconi but divergences over formation of new government remain; New poll: Only 22% of Italians in favour of snap electionsPier Luigi Bersani, Italy’s centre-left leader, has agreed to meet Silvio Berscusconi to discuss the formation of the new government and the election of the next Italian President. Both leaders disagree, however, on what shape this government will take, and have yet to decide on a date for their meeting. Meanwhile, Five-Star movement MPs and Senators will stage a symbolic ‘occupation’ of the Italian parliament until midnight today, protesting the fact that the new parliament has not started work yet. Separately, a new IPR poll shows that only 22% of Italians think snap elections would be the best solution for their country at this stage. La Stampa Repubblica Repubblica 2 Repubblica 3 FT Spanish Prime Minister Mariano Rajoy told the press yesterday, “We have to consider whether the ECB should have the same competences as all other central banks in the world.” Separately, Moody’s has said it expects Spain’s public deficit to be 6% of GDP at the end of 2013. The target agreed with the European Commission for this year is 4.5% of GDP.El País El País 2 El Mundo Expansión Expansión 2 FT WSJ Bloomberg City AM A new Forsa poll for Handelsblatt shows 69% of Germans want to keep the euro, the highest proportion since its introduction, with 27% in favour re-introducing the D-Mark. Meanwhile, in a recently published interview from 2002, former German Chancellor Helmut Kohl revealed he acted "like a dictator" to see the euro introduced as he knew that he “could have never have won a referendum” on the issue.Handelsblatt FAZ Süddeutsche EUobserver Following the death of former UK Prime Minister Margaret Thatcher yesterday, Open Europe’s Raoul Ruparel is quoted in USA Today as saying that "Her policies turned Britain around when it was facing many similar problems to some of the eurozone countries today in terms of stagnation and low growth”.USA Today Kathimerini reports that the Greek government will resume talks with the EU/IMF/ECB Troika this afternoon, with the two sides someway from reaching an agreement which would allow for the release of the next tranche of bailout funds ahead of Friday’s meeting of eurozone finance ministers.Kathimerini CityAM BBC ARD Kicking off a series of high-profile meetings in Brussels, US Treasury Secretary Jack Lew encouraged European leaders to ease off austerity measures and find ways to enhance growth, reports The Washington Post.Washington Post The main source of short-term funding for European banks could more than halve if the EU’s new financial transaction tax goes ahead, according to the International Capital Markets Association.FT The French Prime Minister Jean-Marc Ayrault announced yesterday that all members of the French government have to disclose their assets publicly by April 15, following the scandal over a secret Swiss bank account held by the former French Budget Minister Jerome Cahuzac.FAZ FT Serbia’s Prime Minister Ivica Dacic has rejected an EU brokered deal aimed at normalising his country’s relations with Kosovo, saying it did “not guarantee full security and protection of human rights to the Serb people in Kosovo”.European Voice Euractiv Le Monde Welt ORF reports that the EU is increasing pressure on Austria to tighten its laws on bank secrecy following similar concessions by Luxembourg. However, in an interview with Österreich, Austrian Finance Minister Maria Fekter said she would fight “like a lioness” for bank secrecy. ORF Österreich: Fekter The FT reports that Brazil, along with Mercosur partner Uruguay, is preparing to revive free-trade talks with the EU.FT In response to unfounded EU asylum claims from the Balkan nations, the Civil Liberties Committee in the European Parliament has voted in favour of a “last resort” suspension clause, which could see their visa-free regimes temporarily suspended.EUobserver