The €30bn approved by the Eurogroup on July 9 for Spain's floundering banks is now waiting on agreement from Helsinki, which is calling for financial guarantees in exchange for its participation.

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Finland holds eurozone countries in suspense – Hufvudstadsbladet

Europe is becoming a "land divided between the virtuous and the cursed," writes the Spanish daily. Five countries (Germany, France, Austria, Netherlands and Finland) are selling bonds at negative interest rates, while Spain, Italy and other countries in difficulty must pay the "highest interest rates in the history of the euro".

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Fear causes markets to open breach in eurozone – El País

The Spanish government wants to force the autonomous regions to reduce their deficits to 0.7% of GDP in 2013 and 0.1% in 2014. A goal which budget officials are resisting in seven regions, some of which are governed by the ruling Popular Party. Madrid has "warned" 8 regions that it will intervene in the accounts of those that do not reduce their deficits sufficiently.

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Autonomous regions’ rebellion against Rajoy’s cuts extends to People’s Party – El Mundo

Austrian opposition parties The Greens and two populist parties FPÖ and BZÖ have agreed to institute proceedings at the constitutional court against the adoption of the fiscal compact in September. As the compact limits the budget sovereignty of parliament they argue it should have been adopted by a two-thirds-majority and not by a simple majority as happened last week.

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Opposition brings fiscal compact to constitutional court – Der Standard

The British army is searching for land to set up a military camp after being called in at the last minute to provide emergency security for the Olympic Games. 1,000 troops who recently returned from Afghanistan will be flown from Germany to go on duty at the Olympic Village because the private security firm G4S failed to recruit enough guards.

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Olympic security chaos – The Times

The EU has asked Romanian Prime Minister Victor Ponta to restore the powers of the Constitutional Court, to respect the independence of the judiciary, to name a People's Advocate with the support of all parties and to make integrity a political priority. "The balance of power in a democratic state must be ensured," said Commission President José Manuel Barroso.

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Executed in Brussels – Evenimentul zilei

The referendum campaign to impeach Romanian president Traian Băsescu has begun. The Bucharest daily recalls that the president forced his daughter to become an MEP, confiscated the phone of a reporter, declared that the education system produces idiots, and that he hit a child ...

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When was Traian Băsescu honest? – Jurnalul Naţional