Reuters blog archive
Turkey's parliament has voted to give the government a green light to order military action against Islamic State as the insurgents tightened their grip on a Syrian border town, sending thousands more Kurdish refugees into Turkey.
There is little sign of it being put into imminent use but the vote gives the government powers to order incursions into Syria and Iraq to counter the threat of attack "from all terrorist groups". By common consent, western air strikes alone are unlikely to vanquish IS and there is a great deal of doubt that Syrian and Iraqi forces can best them on the ground.
Service sector PMI surveys for euro zone member states, Britain and others are forecast to show France and Italy languishing in contractionary territory while Spain achieves quite strong growth.
There is a health check with these figures. Germany’s PMI readings also look strong but Europe’s largest economy is expected to achieve little or no growth in the third quarter of the year, having contracted in the second.
A reminder that while the euro zone crisis may be in abeyance, it still has the ability to bite.
Portugal will blow 4.4 billion euros of the 6.4 billion euros left from Lisbon’s recently exited international bailout programme shoring up troubled lender Banco Espirito Santo which will be split into "bad" and "good" banks. Junior bondholders and shareholders will be heavily hit.
Interesting intervention from former Russian finance minister Alexei Kudrin late yesterday who warned that Russia risked isolation and having its efforts to modernize derailed.
That sort of internal criticism is rare but Kudrin has done so before without censure which suggests Vladimir Putin is – or has been - willing to hear it. Kudrin added that Moscow should not intervene militarily in eastern Ukraine.
EU leaders meet for a summit at which they were supposed to decide who gets which European Commissioner posts – one for each member state – in what will be a huge carve-up, so huge in fact that it may well be that only a very few jobs are decided tonight.
Current best guesses – though they are just guesses – are that despite a willingness among some to play nice with the Brits, Prime Minister David Cameron may lose out again having voted against Juncker at a June summit. He is seeking one of the big economic portfolios; internal market, trade or competition but putting forward a low-profile politician as his point person in Brussels has not that made that any more likely.
Who are the two most important people in the EU? It’s hard to argue against Angela Merkel and Mario Draghi and they meet today in Berlin.
It’s supposed to be a private meeting but of course we’ll be digging, particularly for any signs that the German leader is for or against the European Central Bank printing money if it is required to beat back deflation.
Fresh talks between Russia, Ukraine and the European Commission in Berlin will aim to resolve a gas price dispute that Moscow has warned could make it cut off supplies next week.
Ukraine has said the price for 2014 should be agreed before it starts making any payments. Russia's energy minister has said Moscow and the EU have proposed that Kiev pay Gazprom $2 billion, and another $500 million before June 7, as a precondition for a price discount and further talks.
from Photographers' Blog:
By Stoyan Nenov
A woman with heavy make-up, wearing leotards steps into a taxi.
"To the hospital" she says. The driver looks suspiciously at her but starts the car.
Leonsiya Dokuzova, a 42-year-old Bulgarian, can tell many stories like this one.
from Global Investing:
Fund managers searching for yield are increasing exposure to frontier markets (FM) as a diversification from emerging markets (EM), as the latter have been offering negative relative returns since January, according to MSCI data.
Barings Asset Management said on Monday it plans to launch a frontier markets fund in coming weeks, with a projected 70 percent exposure to frontier markets such as Nigeria, Saudi Arabia, the UAE, Sri Lanka and Ukraine.
(Photo: An Orthodox priest holds up a box containing bones believed to be the relics of John the Baptist, in Sofia, November 12, 2010/Oleg Popov)
Bulgaria's main Orthodox cathedral is displaying jaw and arm bones and a tooth said to be relics of John the Baptist, in a move state officials hope will boost tourism to the Black Sea resort where they were found. Prominent politicians and simple believers flocked to the Alexander Nevsky Cathedral in Sofia to view the remains, which were found near the town of Sozopol in July and are on display in the Bulgarian capital through Sunday.
John the Baptist, a Christian saint also revered in Islam, announced the coming of Jesus and baptised him in the River Jordan. The Gospels say King Herod had John beheaded at the request of his stepdaughter Salome after she danced for him.
from Our Take on Your Take:
Boian Hristov has been a regular contributor to Your View for some time now but it's his pictures from the recent masquerade festival in Bulgaria that have struck me the most. Boian has managed to capture the individual stories within the festival and created compelling portraits of those involved by pulling them clear of the background. A selection of some of the best are below.