The economic review Handelsblatt focuses on the mini-summit of the European South on energy held on Friday in Rome. In its online version, it points out that “shortly before the next EU summit, which takes place next Thursday and Friday, the countries of Southern Europe are shaping their position” and that “the four leaders demand a cap on natural gas import prices. “They also want to eliminate the link between the price of electricity and that of natural gas, so that businesses and consumers can be relieved.”
Among other things, the newspaper quotes the warning of Prime Minister Kyriakos Mitsotakis that “when the cost of heating is increased fivefold or sixfold, the answer can not be given at the national level” and that the energy crisis “can awaken the nightmare of populism”.
According to Handelsblatt, “the idea for the South Summit came up at the last meeting of European leaders in Versailles. Already there (Italian Prime Minister) Draghi had called for a cap on gas prices. Germany fears such a ceiling would act as a deterrent to imports of liquefied natural gas from third countries, which the EU needs if it seeks independence from Russia.
France, which until now has usually followed a common path with the countries of the South, has not yet expressed a clear position. There is a risk that the gap between the northern and southern countries of the EU in terms of energy security will widen. “There were differences on this issue even before the war in Ukraine.”
Agreement with Mitaraki on secondary immigration?
The German magazine DER SPIEGEL returns to the issue of secondary immigration from Greece, claiming that an agreement has been reached between the Minister of Immigration and Asylum Notis Mitarakis and the Minister of Interior of Germany Nancy Fezer, so that tens of thousands of refugees return to Greece.
“Asylum applications from some 41,000 refugees and migrants have been frozen by the Federal Office for Migration and Asylum (Bamf), some of them for years,” the German magazine said. “The reason is that the asylum seekers had already received international protection status in Greece, but then traveled to Germany, where they re-applied for asylum. Normally they would have to return to Greece. However, the relevant decision of the asylum service is pending. because according to the case law of the German administrative courts they do not receive the necessary care in Greece.
That will change, according to the German Interior Ministry. It was preceded by a conversation between Interior Minister Nancy Fezer and Greek Immigration Minister Notis Mitarakis. In it, the two sides agreed on the key points of a program, with which Germany will help Greece to provide housing and care to refugees. However, it is still open who will return to Greece “.
Did Russia “prevent” bankruptcy?
Russia’s response to the $ 117 million interest payment deadline was expected with interest on Wednesday. A recent warning from Moscow to repay debt in rubles to “hostile countries” sparked rumors of a possible deferral of payments. According to the Frankfurter Allgemeine Zeitung (FAZ) ” In that case, we would have a technical bankruptcy, the first for Russia since the October Revolution of 1917, when the Communists refused to repay the Tsar’s debts. “They say they have been paid. However, in Asia the remittances do not seem to have arrived yet. A German investor who participated in one of the two issues has also not made any payment.”
“Russia seems to have managed to prevent a bankruptcy due to Western sanctions,” the report said, adding that in Moscow the finance ministry had announced that it had begun repayment proceedings. “I did not expect it,” said one investor. The Swiss Neue Zürcher Zeitung (NZZ) recalls that “until recently, the Russian state, which has not been over-indebted and also has large foreign exchange reserves due to oil and gas export revenues, was considered an investment grade debtor by the “In the meantime, however, the evaluators have downgraded the country’s creditworthiness in the category of speculative investments and consider a deferral of payments possible.”
Giannis Papadimitriou
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
