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Last update: Sat, 03 Dec 2016 10pm

Europe

World - Europe

Much more than constitutional reform at stake in Italian ballot ROME; Italy's constitutional reform referendum on Sunday could lead to the resignation of Prime Minister Matteo Renzi, trigger renewed turmoil in the country's battered banking sector, and push the euro zone back towards the edge of crisis.  The 41-year-old Renzi has held dozens of rallies across Italy this autumn in an adrenaline-fueled effort to defy the electoral odds and promote a reform that he says will strengthen government rule in the euro zone's third-largest economy.  He has said that if he loses, he will step down after just 2-1/2 years in office. Such a move might well unleash renewed political instability and scare away investors who fear the opposition, anti-euro 5-Star Movement will move closer to power.  A 'No' vote would also be judged part of the same wave of anti-establishment sentiment that saw Britain vote in June to leave the European Union and Americans elect Donald Trump as their next president.  "The world is changing," 5-Star founder Beppe Grillo told a rally ...

World - Europe

Russia says gas exports to Europe, Turkey at 159.7 bcm in Jan 1-Nov 27 MOSCOW: Russia's gas exports to Europe and Turkey totalled 159.7 billion cubic metres (bcm) between Jan.1 and Nov. 27, Russian gas giant Gazprom said on Monday. Exports this year have now surpassed volumes for whole of 2015 which totalled 159.4 bcm, Gazprom said. Copyright Reuters, 2016 ...

World - Europe

EU, Moldova reaffirm ties after pro-Russian president elected BRUSSELS: The European Union and Moldova on Monday reaffirmed close ties which they said would not be affected by the recent election of a pro-Russian president.Socialist Party leader Igor Dodon won hotly disputed polls last month in an East-West tug of war over the future of the Soviet-era satellite of just 3.5 million people, wedged between Romania and Ukraine.Flanked by Moldovan Prime Minister Pavel Filip, EU Enlargement Commissioner Johannes Hahn said close relations were "deeply ...

World - Europe

Brexit transition headache has EEA painkiller fix LONDON: The UK's Brexit transition quandary might have a workaround. Courts could rule that when Britain quits the European Union it can stay part of the European Economic Area, a wider group that includes Norway, Iceland and Liechtenstein.Properly handled, it could help Britain disentangle itself from the EU without shooting itself in the foot. One of the biggest headaches for UK negotiators is a two-year countdown to exit once the government gives formal notice of ...

World - Europe

Trump team rejects effort to push vote recount WASHINGTON: Donald Trump's transition team on Monday pushed back against an emerging effort to recount votes from the Nov. 8 presidential election, calling it "nonsense," but not offering any evidence to back the president-elect's weekend tweet alleging millions of illegal votes.The Green Party last week filed for a recount in Wisconsin, a move joined by lawyers for Democratic presidential nominee Hillary Clinton, and has said it will seek a recount in Michigan and Pennsylvania. Copyright ...

World - Europe

Greece wants primary surplus targets beyond 2018 lowered to 2.5pc of GDP ATHENS: Greek Finance Minister Euclid Tsakalotos said on Monday that if primary surplus targets beyond 2018 were lowered to 2.5 percent of GDP from 3.5 percent now, Athens would be able to cut taxes in an effort to boost economic competitiveness. German Finance Minister Wolfgang Schaeuble said a week ago that Greece's problem is not its debt but competitiveness. "Some countries say that Greece's biggest issue is not its debt but competitiveness," Tsakalotos told a ...

World - Europe

Euro zone recovery to continue thanks to ECB stimulus: Draghi FRANKFURT: The euro zone recovery has withstood economic and political uncertainty and its recovery expected to continue, partly thanks to the European Central Bank's monetary stimulus, ECB President Mario Draghi said on Monday. "The euro area economy continues to expand at a moderate but steady pace, despite the adverse effects of global economic and political uncertainty," Draghi told an EU Parliament committee."This gradual upward trend is expected to continue, not least owing to our monetary ...