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The Economist Continental Europe Edition

The Economist Continental Europe Edition 03/04/2017

The Economist is the premier source for the analysis of world business and current affairs, providing authoritative insight and opinion on international news, world politics, business, finance, science and technology, as well as overviews of cultural trends and regular Special reports on industries and countries.

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The Economist Newspaper Limited - Europe
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8 мин.
the world this week

Politics François Fillon, the Republican candidate in France’s presidential election, declared that he will continue his campaign despite being subject to an official criminal investigation over payments he made to his wife and children. Mr Fillon said he had been unfairly singled out by magistrates and implied that the investigation was politically motivated. François Hollande, France’s president, criticised Mr Fillon for questioning the impartiality of the justice system. Jean-Claude Juncker, the president of the European Commission, proposed that the European Union pull back from some activities that could be better handled locally by members, such as social policy. He also called for tighter EU integration on key policies such as migration, defence and trade. Two German men were convicted of murder for staging an illegal drag race in the heart of Berlin’s central…

5 мин.
france’s next revolution

IT HAS been many years since France last had a revolution, or even a serious attempt at reform. Stagnation, both political and economic, has been the hallmark of a country where little has changed for decades, even as power has rotated between the established parties of left and right. Until now. This year’s presidential election, the most exciting in living memory, promises an upheaval. The Socialist and Republican parties, which have held power since the founding of the Fifth Republic in 1958, could be eliminated in the first round of a presidential ballot on April 23rd. French voters may face a choice between two insurgent candidates: Marine Le Pen, the charismatic leader of the National Front, and Emmanuel Macron, the upstart leader of a liberal movement, En Marche! (On the Move!),…

3 мин.
get well soon, mr buhari

EVER since word trickled out that Muhammadu Buhari, Nigeria’s 74-year-old president, was not just taking a holiday in Britain but seeking medical care, his country has been on edge. Nigerians have bad memories of this sort of thing. Mr Buhari’s predecessor bar one, Umaru Yar’Adua, died after a long illness in 2010, halfway through his first term. During much of his presidency he was too ill to govern effectively, despite the insistence of his aides that he was fine. In his final months he was barely conscious and never seen in public—yet supposedly in charge. Since he had not formally handed over power to his deputy, Goodluck Jonathan, his incapacity provoked a constitutional crisis and left the country paralysed. There is nothing to suggest that Mr Buhari is as ill as…

4 мин.
doing deregulation right

WHAT does the Republican Party, led by Donald Trump, agree on? In addition to an enthusiasm for power, two things unite the conservatism of Stephen Bannon, the president’s consigliere, with the conservatism of Mitch McConnell and Paul Ryan, the Republican leaders in Congress. One is tax cuts, on which he has thus far been vague. The other is deregulation, which matters more to Republicans now than debt or deficits. The president promised “a historic effort to massively reduce job-crushing regulations” when he spoke to a joint session of Congress on February 28th. Mr Bannon has announced nothing less than “the deconstruction of the administrative state”. That project began with an executive order requiring federal agencies to get rid of two regulations for every new one they issue. It continued this week…

3 мин.
from worse to bad

IF YOU owe a bank a hundred dollars, it is your problem. If you owe a hundred million, it is the bank’s problem. If you are one of many tycoons borrowing billions to finance dud firms, it is the government’s problem. That is roughly the situation India finds itself in today. Its state-owned banks extended credit to companies that are now unable to repay. Like the firms they have injudiciously lent to, many banks are barely solvent. Almost 17% of all loans are estimated to be non-performing; state-controlled banks are trading at a steep discount to book value. After years of denial, India’s government seems belatedly to have grasped the threat to the wider economy. Plans are being floated to create a “bad bank” that would house banks’ dud loans, leaving…

3 мин.
oiling the machine

TO IMMIGRANTS who live in the shadows, or in the interminable half-light of the asylum system, the signals in two large countries are ominous. Germany’s government is seeking to make it easier and quicker to deport failed asylum-seekers. America promises to “take the shackles off” its immigration officers and boost their numbers. In a speech to Congress on February 28th, Donald Trump mentioned two illegal immigrants—both of them murderers. In both countries, politics is lubricating the deportation machine. Mr Trump is delivering the crackdown he promised on the campaign trail; Germany is gearing up for elections in September, in which the anti-immigration Alternative for Germany party threatens to do well. In both countries, civil-rights groups call deportation brutal and unfair. In both, the federal government has clashed with local officials. But…