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A new lobbying scandal in the European Parliament has emerged, with police raids linked to allegations of bribery involving Huawei. Investigators are focusing on 15 current and former MEPs, with several arrests made and offices sealed. Huawei has stated it takes the allegations seriously and is committed to cooperating with the investigation.
Michel Barnier's tenure as prime minister is at risk as he faces a no-confidence vote due to his unpopular budget, which has failed to secure support from both the left and Marine Le Pen's far-right party. Despite his diplomatic experience and attempts to negotiate, Barnier's concessions were insufficient, leading to a political impasse and criticism of his leadership approach. The situation highlights the challenges of navigating France's fragmented political landscape, where compromise is elusive.
Switzerland's inflation rate rose 0.7% year-on-year in November, slightly below expectations, with a 0.1% monthly drop in consumer prices. This cooling inflation may pressure the Swiss National Bank to cut interest rates further, as the country faces subdued inflation prospects.In France, Prime Minister Michel Barnier's minority government faces no-confidence motions amid political turmoil, potentially jeopardizing the country's financial stability and public deficit management. The CAC 40 index rose 0.8% despite the looming vote, reflecting market resilience amid uncertainty.
The French government plans a significant budget overhaul to reduce the deficit, targeting 40 billion euros in spending cuts and 20 billion euros in tax increases. Key measures include a surtax on the wealthiest households and higher corporate taxes for large companies, alongside cuts to social security contributions and subsidies. With public debt soaring to 112% of GDP, the aim is to lower the deficit to 5% by 2025 and below 3% by 2029, amid a challenging political landscape.
Gabriel Attal
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new bribery allegations surface in european parliament involving huawei
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