In a move that could turn into the next blow to the EU after Britain’s exit vote, Austria’s highest court ordered a rerun of the country’s presidential election. The landmark decision gives a right-wing candidate the chance to turn his narrow defeat into victory.
The number of unemployed in the Euro-zone has fallen, slightly, for the first time since April 2011. The fall in June came amid brightening economic prospects, suggesting an end to the bloc’s stubborn recession.
Austria vowed to stick to its bank secrecy laws, defying renewed pressure to follow Luxembourg in revealing information on European Union depositors and criticized the United States and Britain for permitting tax havens.
The European Union has agreed that around 100 billion Euros is needed to recapitalise the European banking system, but splits remain before a high-profile summit on Sunday over how to strengthen the Euro zone's bailout fund.