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The Economist Continental Europe Edition

The Economist Continental Europe Edition November 26, 2016

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 Angela Merkel announced that she will run for a fourth term as chancellor of Germany next year. Many liberals were delighted, especially foreign ones. Within Germany there was joy among right-wing populists, who relish the chance to run against the chancellor, whom they blame for allowing large numbers of refugees into the country. A possible challenger, Martin Schulz, decided to leave his job as president of the European Parliament. He may run against Mrs Merkel as the candidate of the opposition Social Democrats. François Fillon, a former prime minister, unexpectedly won the first round of the Republican party primaries in France, with 44% of the vote. He is favoured to win the second round, and could claim the presidency next year if he is pitted against Marine Le Pen, the leader…

5 мин.
the burning question

BLOWING hot and cold doesn’t begin to cover it. In 2009 Donald Trump signed a public letter calling for cuts to America’s greenhouse-gas emissions. In 2012 he dismissed climate change as a hoax cooked up by the Chinese. On the campaign trail he promised to withdraw from an international accord, struck last year in Paris, to fight global warming. This week, as president-elect, Mr Trump said he has an “open mind” on the Paris deal and that there is “some connectivity” between human activity and climate change. Such fickleness gives succour to pessimists and optimists alike. Those who are gloomy about the climate still expect America to ignore or withdraw from the Paris agreement, or to abandon the 1992 UN framework that underpins it. Sunnier folk hope that Mr Trump will…

3 мин.
falling down

FORTY thousand people wearing yellow shirts gathered in Malaysia’s capital on November 19th, to protest against corruption and impunity in government. The rally was orderly and restrained; the response of the authorities was not. On the eve of the protest, police arrested Maria Chin Abdullah, leader of a coalition of human-rights groups that organised the event. She was placed in solitary confinement, and can be held there for 28 days. Even by Malaysia’s dismal recent standards this marked a fresh low. Ordinary Malaysians should not stand by while their leaders undermine the rule of law so casually. Ms Chin Abdullah’s detention was justified by an anti-terrorism law which the government had promised would never be used against political opponents. The true motivation was to stifle outrage over 1MDB, a state-owned investment…

3 мин.
the hardest deal

WHEN Americans elected a businessman as president they created a problem: the risk of conflicts between his business interests and his political role. Already, red lights are flashing. China has just resolved a long-standing legal dispute in Mr Trump’s favour. A developer in India has been marketing a new Trump-branded 75-storey skyscraper under the slogan: “Congratulations Mr President-Elect”. The danger of the White House becoming a subsidiary of the Trump Organisation is real. Some are demanding that Mr Trump liquidate his business. Mr Trump’s allies say he can do what he likes under the law. Both sides want to shred the conventions governing the Oval Office. Instead, Mr Trump should be treated like every American president. He must ring-fence his private interests and put them under independent supervision. It is the…

4 мин.
a regretful no

ITALY has long been the biggest threat to the survival of the euro, and the European Union. Its GDP per head is stuck at the level of the late 1990s. Its labour market is sclerotic. Its banks are stuffed with non-performing loans. The state is burdened with the second-highest debt load in the euro zone, at 133% of GDP. If Italy veers towards default, it will be too big to rescue. That is why so much hope has rested with Matteo Renzi, the young prime minister. He thinks Italy’s biggest underlying problem is institutional paralysis, and has called a referendum for December 4th on constitutional changes that would take back powers from the regions and make the Senate subordinate to parliament’s lower house, the Chamber of Deputies. This, together with a…

3 мин.
limited ambition

OVER the past five months Theresa May has shown a fondness for bold words and grand promises. On the steps of Downing Street on her first day in office, the prime minister promised to “make Britain a country that works for everyone”. At the Conservative Party conference in October she excoriated those who consider themselves “citizens of the world”, arguing that “a change has got to come”. Earlier this month she recast herself as a champion of globalisation, but pledged a “new approach” to managing its forces. November 23rd marked the first big opportunity to turn this fighting grandiloquence into action, as Philip Hammond, the chancellor of the exchequer, made his Autumn Statement, an annual mini-budget. Yet the first big fiscal event since the referendum was modest and boring, the mirror…