Trump administration completes prisoner swap with Venezuela, frees 10 Americans
The Trump administration has completed a controversial prisoner swap with Venezuela, returning around 250 deported Venezuelans in exchange for 10 Amer...
Chancellor-in-waiting Friedrich Merz has secured a breakthrough deal with the Greens, paving the way for a massive state borrowing boost. The agreement, crucial for economic growth and defense spending, sent the euro surging as markets reacted to the historic shift in Germany’s fiscal policy.
German Chancellor-in-waiting Friedrich Merz reached an agreement with the Greens on Friday on a massive increase in state borrowing in Europe's largest economy, sources close to the negotiations said, in news that sent the euro soaring.
Merz's conservatives and the Social Democrats, who are in negotiations to form a government after an election last month, had proposed a 500 billion euro fund for infrastructure and sweeping changes to borrowing rules to revive growth and ramp up military spending.
Decades of German fiscal conservatism have been upended by U.S. President Donald Trump's policy shifts, with Merz warning that Russia and U.S. could leave the Europe exposed.
To reach the two thirds majority required for the necessary constitutional changes, though, they need the support of the Greens who had hitherto rejected their plans, worried the new funds might be used simply to finance policies such as tax cuts.
The three parties, however, reached a deal on Friday, two sources close to the talks said, The news sent euro zone government bond yields, shares and the euro currency jumping on expectation the plan would boost the wider European economy.
"There is a deal," the source said after German newspaper network RND had previously reported a compromise. A Greens source said they were happy with the deal.
One source familiar with the talks said the compromise includes the allocation of 100 billion euros for the climate and economic transformation fund.
The revised debt deal is being examined by finance ministry officials, two parliamentary sources said. Another source said some details were still being hammered out.
The parliamentary groups of all three parties were hastily convened to meet at 12:00 GMT to discuss the deal.
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China and the Association of Southeast Asian Nations will send an upgraded ‘version 3.0’ free-trade agreement to their heads of government for approval in October, Chinese Foreign Minister Wang Yi said on Saturday after regional talks in Kuala Lumpur.
Germany's export slump since 2021 is largely driven by deep-rooted competitiveness issues, the Bundesbank warned in its latest report, calling for urgent structural reforms.
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Two Harry Potter actresses, Emma Watson and Zoe Wanamaker, have each received a six-month driving ban after separate speeding offences, both sentenced on the same day at a Buckinghamshire court.
North Korea has stopped foreign tourists from visiting its new Wonsan-Kalma resort just weeks after it welcomed the first Russian visitors.
U.S. President Donald Trump says Coca-Cola has agreed to use real cane sugar in the U.S., though the company has not confirmed the claim.
The Trump administration has completed a controversial prisoner swap with Venezuela, returning around 250 deported Venezuelans in exchange for 10 American detainees.
Congo and the M23 rebel group have agreed on a declaration of principles after months of Qatar-mediated talks, aiming to end fighting in the country’s east.
German authorities have arrested a Libyan man accused of overseeing torture and sexual abuse at a notorious prison in Tripoli, the International Criminal Court said on Friday.
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