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Xchl MEPs extremely concerned at slow pace on banking union, says Schulz
Ben Wallace rules himself out of UK leadership contestDefense secretary was among early favorites, according to pollsters and bookies.Copy LinkCopiedShare via emai stanley cup becher lShare on XShare on WhatsAppShare on LinkedInBritain s Defense Secretary Ben Wallace | Daniel Leal/AFP via Getty ImagesJuly 9, 20222:44 pm CETBy Eddy WaxDefense Secretary Ben Wallace said he will not stand to be the U.K. next prime minister, as the race to replace Boris Johnson gets underway in earnest this weekend.Pollsters had tipped Wallace as an early favorite among Conservative Party members because of his handling of the Ukraine crisis. But the 52-year-old Johnson loyalist, who ran Johnson leadership campaign in 2019, announced on Saturday that he would not put himself forward to replace his boss.After careful consideration and discussing with colleagues and family, I have taken the decision not to enter the contest for leadership stanley vattenflaska of the Conservative Party, Wallace tweeted on Saturday. He said it has not been an easy choice to make, but his priority for now was his work in keeping the country safe.Johnson resigned on Thursday after a series of scandals rocked his premiership, but said he would stay on until a replacemen stanley cup t is voted in by Tory party members in a process that will play out this summer.Earlier on Saturday, Kemi Badenoch, who quit on Wednesday as equalities minister, threw her hat into the ring, while Steve Baker, a hardline Brexiteer, backed Attorney Bhzh THE MONTHS AHEAD
Moody downgrades Spain debtAll three large credit-ratings agencies have now expressed concern about Spains economy.Copy LinkCopiedShare via emailShare on XShare on WhatsAppShare on LinkedInSeptember 30, 20104:39 am CETBy Jim BrunsdenSpain received a stanley thermobecher blow this morning in its efforts to convince the market that its finances are sound when its credit rating was downgraded by Moodys, one of the big three ratings ag gourde stanley encies.Moodys downgraded Spain from AAA its highest possible rating to AA1, its second highest. It is the last of the big three agencies to strip Spain of triple-A status. Triple-A status is a coveted asset for governments, as it implies that they are safe from default, so inv stanley vaso estors will lend to them at low rates.AdvertisementAdvertisementMoodys decision will almost certainly cause Spains borrowing costs to rise. The agency said that its decision was based on Spains weak economic growth prospects , the considerable deterioration of the Spanish governments financial strength , and its significant borrowing requirements . The government remains vulnerable to further episodes of market volatility, Moodys said. The downgrade is likely to move the spotlight back onto Spain as a potentially vulnerable eurozone economy, a status that it had at the height of the EU sovereign-debt crisis this spring and which it seemed to have successfully shed by announcing a series of austerity measures and structural reforms.The European Commission is preparing proposals
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