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The paper clip, 11 May

Friday 11 May 2012

Evangelos Venizelos, the leader of Greece's centre-left Pasok party, is trying to form a government of national unity following last Sunday's election, writes Kathimerini. Venizelos will hold talks today with the centre-right New Democracy and the far-left Syriza, which rejects Greece's obligations under an international bail-out plan. He received the backing for a unity administration from the Democratic Left yesterday. The Irish Times says that the Democratic Left's backing greatly sees Greece edge closer to a government being formed.

Spanish banks need €100 billion in extra capital, the Daily Telegraph writes. The paper says analysts believe that reaching that figure will require international aid.

China's biggest sovereign-wealth fund says it no longer wants to buy European government debt, the Daily Telegraph writes.

Michael Spindelegger, Austria's foreign minister, tells Die Presse that his government wants to freeze the EU's budget but without touching spending on farm aid. France, Germany and Spain have already agreed to leave the EU's farm budget intact, according to Niki Berlakovich, Austria's agriculture minister.

Recep Tayyip Erdogan, Turkey's prime minister, has called for a “new era” in relations with France in a phone call with François Hollande, France's next president, writes Hürriyet Daily News.

Le Monde reports on the emerging role of Valérie Trierweiler, the partner of François Hollande. She sparked controversy earlier this week when she attended a birthday party at which ousted International Monetary Fund head Dominique Straus Kahn was also present. She said a new term must be invented for her, since she is not married to Hollande and thus cannot be called ‘first lady'.
   
Liberation reports that French far-right leader Marine Le Pen has focused her attacks on far-left leader Jean-Luc Melenchon, reflecting the fact that the two will be competing for some overlapping voters in the French legislative elections.
    
Vladimir Putin, Russia's new president, will not attend a summit of the G8 group of leading economies in Camp David and will instead send Dmitry Medvedev, his prime minister, the Moscow Times writes. The move is seen as a snub to US President Barack Obama. 
 
JPMorgan Chase has announced trading losses of some $2 billion (€1.5bn), writes the New York Times.
 
The European commissioner for budget, Janusz Lewandowski, appears in Poland's Gazeta Wyborcza, talking about the EU's desire for Ukraine to be within its orbit, rather than Russia's. 
 
Gazeta Wyborcza writes that Ukraine will in two weeks' time bring charges against Yulia Tymoshenko for alleged implication in the murder in 1996 of Yefhen Shcherban, a member of parliament and one of the richest people in Ukraine.

Germany's Chancellor Angela Merkel yesterday called Ukraine a “dictatorship” and likened it to Belarus. The Financial Times has a report.

Slovakia's Sme writes that the spokeswoman of Slovak Prime Minister Robert Fico may have received a municipal flat on advantageous terms. 

Sme writes that a great deal of EU funding is going into technology, risking putting people out of work.

Spain has made a formal complaint to the UK over a forthcoming visit by the Duke and Duchess of Wessex to Gibraltar to mark the Queen Elizabeth's Diamond Jubilee, the Daily Telegraph writes.

Albania on Thursday voted to allow the European Union to investigate accusations that ethnic Albanian fighters sold organs from captured Serbs during the 1999 Kosovo conflict, the Washington Post writes.

More than 30,000 police officers from across the UK yesterday demonstrated against budget cuts and pay cuts, the Guardian writes.

Volkswagen's Czech unit, Skoda Auto, announced record sales in April and for the first four months of the year, Hospodárské noviny writes. 
 
Chevron and Shell are set to be awarded the rights to explore for unconventional gas in Ukraine, potentially catapulting it to the forefront of Europe's fledgling shale gas industry, the Financial Times writes. 
 

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