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[Ticker] Romania defies EU on rule of law

Romanian senators have backed a law that will let several high level corruption suspects off the hook by shortening the statute of limitations of crimes, in defiance of EU concern on "systemic" abuse of rule of law in the member state, which currently ...

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[Ticker] Greek MPs renew call for German WW2 billions

Greek MPs have voted to seek "every appropriate legal and diplomatic action to satisfy Greece's demands" on WW2-era war reparations from Germany. "This claim is our historic and moral duty," Greek prime minister Alexis Tsipras also said. The parliament did not mention a figure, but a committee in 2016 said it was worth €300bn. German government spokesman Steffen Seibert rejected the claim Wednesday, saying it had already been "conclusively settled".

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[Ticker] Senior EU official still hopes UK will ‘rethink’ Brexit

British people should use the extension of the Brexit deadline to 31 October to "calm down and rethink things a bit" and "then look at the issue [of leaving the EU] again" Dutch socialist politician and senior EU official Frans Timmermans said in a TV ...

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[Ticker] MEPs water down terrorist content law

MEPs have watered down European Commission proposals on Terrorist Content Regulation, saying online firms should have 12 hours to remove offensive material the first time regulators flagged it, instead of just one hour. MEPs also voted, by 308 to 204, ...

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EU drafts $20bn US sanctions list in aviation dispute

The European Commission on Wednesday published a list of US products facing sanctions over a long-running dispute among rival airlines Boeing and Airbus.

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[Ticker] Poland should avoid euro membership, Kaczynski says

Poland should not join the euro until its economic level was equal to Germany's, Jaroslaw Kaczynski, Poland's ruling party chief, has said in a proposed cross-party declaration. All parties should "guarantee the euro won't be introduced in Poland until...

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[Ticker] German lender fears US and UK backlash

Germany's largest lender, Deutsche Bank, expects to face "significant disciplinary action" by US and UK regulators, including fines and prosecution of "senior management", over its role in an €18bn money-laundering affair five years ago, according to an internal bank memo seen by British newspaper The Guardian. The bank helped move mostly Russian money linked to the Kremlin into the US and EU.

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[Ticker] EU to shield Cuba investors from US sanctions

The EU will challenge US lawsuits against European companies in Cuba if new US measures against Havana, expected Wednesday, lead to a clash, the European Commission has said. The EU "is ready to protect European interests, including European investment...

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[Ticker] EU banking system infested by ‘rats’, Latvia says

Latvia's banks will be "the cleanest" in Europe, Krisjanis Karins, the country's prime minister, told MEPs in Strasbourg Wednesday after Latvian lender ABLV collapsed last year in a money-laundering affair. "It's a little bit like fighting rats. I can ...

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[Ticker] EU clears Danish and Estonian regulators in €200bn bank scandal

The European Banking Authority (EBA) has cleared Danish and Estonian financial regulators of breaking any EU laws in their handling of a €200bn money laundering scandal at Danish lender Danske Bank and its Estonian branch. The EBA, which has just two full-time staff dealing with money laundering, also did not issue recommendations for change in its decision Wednesday. Questions over regulators' "responsibility" remained "unanswered" Jeppe Kofod, a Danish MEP, said.

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[Ticker] US faces EU trade penalty over Boeing dispute

The European Commission on Wednesday announced a preliminary list of products against the United States as countermeasures over a broader and ongoing dispute on subsidies to US aircraft maker Boeing. The list represents some $20bn in US exports to the ...

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Brunei defends stoning to death of gay men in EU letter

Brunei has defended its draconian anti-gay laws in a letter to MEPs by saying that few homosexuals are actually stoned to death in practice.

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