In blow to Eurogroup head, EU Commission criticises Portugal’s budget

In blow to Eurogroup head, EU Commission criticises Portugal’s budget

The European Commission said on Wednesday (15 January) that Portugal’s draft budget for 2020 was at risk of breaking European Union fiscal rules because of insufficient progress in reducing its structural deficit. The opinion is a blow to Portuguese Finance Minister Mario Centeno, who chairs the powerful Eurogroup of finance ministers – a body that participates in the oversight of fiscal policies in the 19 states of the euro zone. In his first opinion on the budget of a euro zone government since he took office in December, EU economics…

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Russia’s ruling party approves that Putin’s pick Mishustin as a new PM

Russia’s ruling party approves that Putin’s pick Mishustin as a new PM

Russia’s ruling party on Thursday (16 January) unanimously backed President Vladimir Putin’s surprise choice for prime minister, Mikhail Mishustin, a man with almost no political profile. Mishustin’s elevation is part of a sweeping shake-up of the political system announced by Putin on Wednesday, which led to the resignation of Dmitry Medvedev as prime minister along with his government. The changes are widely seen as giving Putin, 67, scope to extend his grip on power once he leaves the presidency in 2024. He has dominated Russian politics, as president or as…

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