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rpannier

(24,928 posts) Sat Aug 12, 2023, 09:57 AM Aug 2023

Five Stories from Europe You May Have Missed

5. Mayor Of Bulgarian Town Arrested In Probe Into Misuse Of EU Funds

The mayor of a Bulgarian town has been arrested in an investigation into an alleged fraud involving EU funds meant for a project to increase energy efficiency in multifamily residential buildings, the European Public Prosecutor’s Office said.

Valentin Dimitrov, mayor of the town General Toshevo in northeastern Bulgaria, was arrested on August 9 at the request of the European Public Prosecutor’s Office. The Interior Ministry confirmed the arrest to RFE/RL.

Dimitrov has been under investigation for fraud involving subsidies from the European Union for the housing energy efficiency project, the European Public Prosecutor's Office said in a news release. The alleged violations took place in 2017-19.

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According to the evidence collected, officials involved in the project, including the mayor, presented false information about the implementation of the work, which had not been completed on time, the prosecutor’s office said.

https://www.rferl.org/a/bulgaria-eu-funds-fraud-mayor/32541390.html

4. European stocks plunge as Italy hits banks' profits with 40% windfall tax

Italy introduced a one-off 40% windfall tax targeting banks' extra profits from higher interest rates, a move that sent European tumbling on Tuesday morning as the market weighs in on the country's decision.

The new windfall tax will only apply to the accounting years of 2022 and 2023 and will affect banks' net interest margin, a measure of the net return on the bank's earning assets, which normally includes loans, leases, and investment securities. The tax must be settled by June 2024.

Italy expects to collect at least €2 billion with the new tax, as sources close to the issue told Reuters. The 40% levy will be made if the net interest income recorded in 2022 exceeds the value of the financial year 2021 by at least 3%.

For the profits of 2023 compared to 2022, the threshold from which the tax will be levied goes up to 6%. The proceeds of the tax, Italian politicians said, will be used to help struggling mortgage holders.

https://www.euronews.com/2023/08/08/european-stocks-plunge-as-italy-hits-banks-profits-with-40-windfall-tax

Follow up story later in week
https://www.euronews.com/2023/08/09/shares-in-italian-banks-recover-after-windfall-tax-is-capped

3. China’s new London embassy on hold pending Westminster intervention

China has temporarily shelved plans to build a new embassy in London, angrily accusing the British government of not doing enough to force through planning permission for the project.

China had been given until Thursday to file an appeal to Tower Hamlets council in east London after the proposals for the embassy were rejected.

Beijing bought the Royal Mint Court site for its new embassy in 2018 for £255m, with the plan to move from its long-term but relatively cramped site in Portland Place, near Regent’s Park.

Chinese officials appear to have decided that rather than appeal through the local Tower Hamlets planning process, where they have relatively little chance of success, they want central government to intervene and give assurances that it will back a resubmitted application.

https://www.theguardian.com/uk-news/2023/aug/11/chinas-new-london-embassy-on-hold-pending-westminster-intervention

2. Seven Romanians Arrested For Weapons Possession Amid Investigation Into Fatal Stabbing Of Greek Fan

Seven Romanians were arrested on August 10 on the border between Greece and Bulgaria for weapons possession as police continued to probe the fatal stabbing of a Greek soccer fan, officials said. The Greek fan was killed near Athens on August 8 during a brawl between rival fans before a Champions League qualifying-round match between AEK Athens and Croatian club Dinamo Zagreb. The Romanians were found in possession of knives, a face mask, and other items, police said. They were believed to be on their way to a Europa League qualifying match when they were arrested.

https://www.rferl.org/a/romania-weapons-greek-fan-soccer/32542987.html

1. 'This is my world!': Former Austrian FM spends holiday in Russia

Several Russian websites have circulated a video of former Austrian Foreign Minister Karin Kneissl, wearing a flowing blue skirt and belted white shirt, extolling the charms of the Russian village of Petrushovo at a local summer festival.

“This is my world,” she said standing in front of a group of Russian children, insisting that she feels at home among the “chickens, ducks and goats” in the village located in the Ryazan Oblast, southeast of Moscow.

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Kneissl was Austria’s foreign minister from 2017 to 2019, and made headlines when she invited Russian President Vladimir Putin to her wedding in 2018 in a ceremony in the town of Gamlitz.

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When a vote of no-confidence ousted the government of Prime Minister Sebastian Kurz, she left political office and subsequently began contributing to Russian government news outlet RT, formerly Russia Today.

https://www.euronews.com/2023/08/10/this-is-my-world-former-austrian-fm-spends-holiday-in-russia