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“Bundesbank to water down the euro“, announces the worried tabloid. For the first time, the President of the German central bank, Jens Weidmann, has declared that inflation in Germany, hovering at 2.5%-2.6%, is higher than the European average, but at a “bearable“ level.
Inflation alert – Bild
In the context of a level of inflation that is above the European average and the significant pay increases which Berlin has accepted in certain sectors, the Dutch daily remarks that “Germany is now heating up to prevent a freeze in the South”.
Even Berlin is now less strict – NRC Handelsblad
In response to an approach from the leader of the socialist PASOK movement, Evangélos Vénizelos, who is currently charged with the task of forming a government, the leader of the Democratic Left (Dimar), Fotis Kouvelis, has agreed in principle to participate in an “ecumenical coalition” along with the right-wing New Democracy party, with a view “to keeping the country in the Eurozone”.
Vénizelos and Kouvelis make step forward – To Ethnos
Amid growing risk of a Greek exit from the Eurozone, European leaders will once again have to seek a solution to save the single currency.
Europe’s Achilles heel – The Economist
The partial nationalisation designed to save Bankia from bankruptcy has revived fears over the Spanish banking sector’s exposure to the country’s burst property bubble. European finance ministers are now demanding an independent risk assessment.
Europe demands audit of Spanish banking sector – Expansión
Notwithstanding pressure from Europe and the risk of a boycott of Euro 2012 matches to held in Ukraine, President Viktor Yanukovych has shown no sign that he may be willing to change his position on the country’s jailed opposition. On 10 May, Bronisław Komorowski, the president of Poland which is the co-organiser of the competition, officially demanded that Yanukovych release opposition leader Yulia Tymoshenko.
Own goal – Kyiv Post
The European parliament has approved a legislation to impose further caps on roaming charges for mobile phone calls and smartphone connections in Europe. From 1st July, the cost of smartphone connections will be reduced from €4 per megabyte to €0.70 €/MB (0.45 €/MB in July 2013 and 0.20 €/MB in July 2014). The cap on the price for calls made abroad will be reduced from €0.35/minute to €0.29/min. and the cost of receiving calls will be cut from €0.11/min. to €0.09/min.
Further reductions in roaming charges – Luxemburger Wort
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