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Brussels lays groundwork for Montenegro’s EU entry with detailed budget roadmap

Brussels lays groundwork for Montenegro’s EU entry with detailed budget roadmap Brussels lays groundwork for Montenegro’s EU entry with detailed budget roadmap
  The European Commission has unveiled a detailed financial framework outlining how Montenegro would be integrated into the EU budget...
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European Commission clears €1 billion capital boost for Romania's investment and development bank

European Commission clears €1 billion capital boost for Romania's investment and development bank European Commission clears €1 billion capital boost for Romania's investment and development bank
The European Commission has approved Romania's plans to strengthen its national investment and development bank, Banca de Investiții și Dezvoltare...
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Seven detained in terror probe over Liège synagogue blast

Seven detained in terror probe over Liège synagogue blast Seven detained in terror probe over Liège synagogue blast
  Belgian authorities have arrested seven people following a series of house searches linked to the investigation into the explosion that...
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EU unveils €10 billion boost for Ukraine's defence and reconstruction at Recovery Conference

EU unveils €10 billion boost for Ukraine's defence and reconstruction at Recovery Conference EU unveils €10 billion boost for Ukraine's defence and reconstruction at Recovery Conference
  The European Union announced a major package of financial support for Ukraine's defence, recovery and reconstruction at the Ukraine Recovery...
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EU residential building construction prices up 48% since 2015

EU residential building construction prices up 48% since 2015 EU residential building construction prices up 48% since 2015


The cost of constructing new residential buildings across the European Union has increased by 48.2% since 2015, according to data...
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EU moves to bolster Europol and Eurojust in crackdown on cross-border crime and terrorism

EU moves to bolster Europol and Eurojust in crackdown on cross-border crime and terrorism EU moves to bolster Europol and Eurojust in crackdown on cross-border crime and terrorism
  The European Commission has unveiled a sweeping package of reforms aimed at strengthening the European Union's ability to combat organised...
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EU releases €846 million to Spain as Brussels steps up support for Valencia flood recovery

EU releases €846 million to Spain as Brussels steps up support for Valencia flood recovery EU releases €846 million to Spain as Brussels steps up support for Valencia flood recovery
  The European Union has approved a fresh €846 million payment to Spain to help finance reconstruction efforts following the catastrophic...
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EU services sector energy use climbs slightly in 2024, driven by electricity and natural gas

EU services sector energy use climbs slightly in 2024, driven by electricity and natural gas EU services sector energy use climbs slightly in 2024, driven by electricity and natural gas
  Energy consumption in the European Union’s services sector rose modestly in 2024, reaching 4,971 petajoules (PJ), according to recent...
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Controversial draft bill on home raids for undocumented migrants faces broad institutional pushback

Controversial draft bill on home raids for undocumented migrants faces broad institutional pushback Controversial draft bill on home raids for undocumented migrants faces broad institutional pushback
  A draft legislative proposal that would enable authorities to enter private residences in order to detain undocumented migrants facing...
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Latest News

Brussels lays groundwork for Montenegro’s EU entry with detailed budget roadmap

Brussels lays groundwork for Montenegro’s EU entry with detailed budget roadmap Brussels lays groundwork for Montenegro’s EU entry with detailed budget roadmap
  The European Commission has unveiled a detailed financial framework outlining how Montenegro would be integrated into the EU budget...
Read More...

European Commission clears €1 billion capital boost for Romania's investment and development bank

European Commission clears €1 billion capital boost for Romania's investment and development bank European Commission clears €1 billion capital boost for Romania's investment and development bank
The European Commission has approved Romania's plans to strengthen its national investment and development bank, Banca de Investiții și Dezvoltare...
Read More...

Seven detained in terror probe over Liège synagogue blast

Seven detained in terror probe over Liège synagogue blast Seven detained in terror probe over Liège synagogue blast
  Belgian authorities have arrested seven people following a series of house searches linked to the investigation into the explosion that...
Read More...

EU unveils €10 billion boost for Ukraine's defence and reconstruction at Recovery Conference

EU unveils €10 billion boost for Ukraine's defence and reconstruction at Recovery Conference EU unveils €10 billion boost for Ukraine's defence and reconstruction at Recovery Conference
  The European Union announced a major package of financial support for Ukraine's defence, recovery and reconstruction at the Ukraine Recovery...
Read More...

EU residential building construction prices up 48% since 2015

EU residential building construction prices up 48% since 2015 EU residential building construction prices up 48% since 2015


The cost of constructing new residential buildings across the European Union has increased by 48.2% since 2015, according to data...
Read More...

EU moves to bolster Europol and Eurojust in crackdown on cross-border crime and terrorism

EU moves to bolster Europol and Eurojust in crackdown on cross-border crime and terrorism EU moves to bolster Europol and Eurojust in crackdown on cross-border crime and terrorism
  The European Commission has unveiled a sweeping package of reforms aimed at strengthening the European Union's ability to combat organised...
Read More...

EU releases €846 million to Spain as Brussels steps up support for Valencia flood recovery

EU releases €846 million to Spain as Brussels steps up support for Valencia flood recovery EU releases €846 million to Spain as Brussels steps up support for Valencia flood recovery
  The European Union has approved a fresh €846 million payment to Spain to help finance reconstruction efforts following the catastrophic...
Read More...

EU services sector energy use climbs slightly in 2024, driven by electricity and natural gas

EU services sector energy use climbs slightly in 2024, driven by electricity and natural gas EU services sector energy use climbs slightly in 2024, driven by electricity and natural gas
  Energy consumption in the European Union’s services sector rose modestly in 2024, reaching 4,971 petajoules (PJ), according to recent...
Read More...

Controversial draft bill on home raids for undocumented migrants faces broad institutional pushback

Controversial draft bill on home raids for undocumented migrants faces broad institutional pushback Controversial draft bill on home raids for undocumented migrants faces broad institutional pushback
  A draft legislative proposal that would enable authorities to enter private residences in order to detain undocumented migrants facing...
Read More...

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Greece's Parliament was sworn in Wednesday (July 17) after July 7 elections that saw a broad conservative victory end over four years of leftist rule.

The six-party Parliament will officially begin its functions after electing a Speaker on Thursday.

New Prime Minister Kyriakos Mitsotakis' conservative government has made boosting sluggish growth a priority, powered by tax cuts and accompanied by privatisation deals.

The 51-year-old Harvard graduate and former McKinsey consultant has also pledged to create jobs and get rid of obstacles to business.

Mr Mitsotakis will outline his government's policies at the weekend before a vote of confidence late on Sunday.

His New Democracy party has 158 lawmakers in the 300-seat chamber.

The Greek debt agency said it had raised €2.5 billion (S$3.82 billion) in the sale, while the prime minister said the yield of 1.9 per cent was a "record low".

A previous seven-year sale in February 2018 had a yield of 3.5 per cent amid world market volatility.

Starting in 2020, Mr Mitsotakis has promised to cut a hated property tax called ENFIA - brought in by a previous New Democracy-led government during the economic crisis - by 30 per cent over two years.

REFORMS PACKAGE

He has also offered to reduce income tax thresholds and to gradually cut tax on business profits by 8 per cent.

But just hours after his July 7 victory, euro zone finance ministers warned the new government to stick to the country's strict public spending commitments.

"We must keep our commitments, this is the only way I know to gain credibility," said Eurogroup chief Mario Centeno.

On Tuesday, the euro zone's bailout fund director and a key EU official overseeing Greece's debt repayments, Mr Klaus Regling, suggested that tax cuts be coupled "with a broader tax base".

In a meeting with Regling later on Tuesday, Mr Mitsotakis "confirmed that Greece would respect fiscal targets", the prime minister's office said.

During the election campaign, Mr Mitsotakis said he would persuade Greece's creditors to accept the easing of targets with "a comprehensive reforms package".

The current framework negotiated with creditors by the previous leftist Syriza government holds Greece to a primary budget surplus of 3.5 per cent to 2022 - but the conservatives say that target stifles growth.

There are two fewer parties in Parliament than in the previous chamber, but two of them are new - Greek Solution, a nationalist party formed by TV salesman Kyriakos Velopoulos, and MeRA25, an anti-austerity party founded by maverick economist and Mr Tsipras's former finance minister Yanis Varoufakis.

"We are here to say a massive 'no' to whatever strengthens (Greece's debt burden)," Mr Varoufakis, whose party elected nine lawmakers, said before being sworn in on Wednesday.

In contrast, neo-Nazi party Golden Dawn was shut out of Parliament for the first time since 2012.

Golden Dawn, until recently Greece's third-ranking party, is in disarray amid an ongoing trial for the 2013 murder of an anti-fascist rapper, allegedly carried out with the knowledge of senior Golden Dawn members.afp