Will Germany block the EIB’s plans to phase out natural gas?

Will Germany block the EIB’s plans to phase out natural gas?

The European Investment Bank wants to purge its loan books of fossil fuels, including natural gas, by 2020. Although the Bank’s final decision is expected to be delivered on 15 October, resistance, especially from Germany, is brewing. Germany’s backslide on climate ambition, fully exposed by its recent tweaking of a landmark climate package, is also starting to affect EIB policy. The EU lender is composed of delegates of all member states, who will vote on 15 October on an update to the bank’s energy lending policy, the first draft of…

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New Flemish government wants to save €110 million by adjusting child support

New Flemish government wants to save €110 million by adjusting child support

The Flemish government wants to save €110 million by tweaking the child support index, according to several sources close to the government negotiations. The government will save more than €110 million on child support by not adjusting the amount of money a family receives for a third child according to the increased lifespan for five years. The measure will only apply to those who still receive child support according to the old system, which was replaced by the renewed Growth Package at the beginning of 2019. The indexing will be…

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The Impact of US Sanctions on European Products: A Closer Look

The Impact of US Sanctions on European Products: A Closer Look

Scotch single malt whisky, German decals, Spanish stuffed olives, British cotton bed linen. These products have one thing in common: the US plans to tax them at 25%. Washington announced on Wednesday (2 October) that it would hit European products with punitive tariffs worth $7.5 billion after receiving the green light from the World Trade Organization (WTO), following a 15-year legal battle between aircraft manufacturers Boeing and Airbus. The US announced it would impose tariffs that amount to 10% on aircraft and 25% on certain German and British industrial products,…

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