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Greek Prime Minister Plans Cabinet Shake‑Up as Farm Aid Scandal Widens

  Greek Prime Minister Kyriakos Mitsotakis takes part in a joint press conference at Paphos military airport. Greece’s government is bracing for a significant political reset as the prime minister prepares to reshuffle his cabinet following a growing scandal over alleged misuse of European Union agricultural subsidies. The controversy erupted after investigations suggested that individuals with no farming activity may have improperly received EU aid intended for agricultural producers. The revelations have triggered public criticism and placed pressure on the government to demonstrate accountability. According to reports, the planned reshuffle aims to restore public trust, tighten oversight of subsidy programs, and reinforce the administration’s commitment to transparency. Several ministries connected to rural development and financial management are expected to see changes, though official details have not yet been released. The scandal has also prompted renewed calls for stri...
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China’s Central Bank Cuts Reserve Requirement Ratio for Banks to Boost Slowing Economy

 

China’s central bank has announced a cut in the reserve requirement ratio for banks to help boost the slowing economy. The move is expected to provide 1 trillion yuan ($141 billion) in long-term liquidity to the market. The deposit reserve requirement will be cut by 0.5 percentage points as of February 5th, 2024. 

The decision comes as the world’s second-largest economy faces multiple challenges, including a faltering recovery from the shocks of the COVID-19 pandemic. The central bank’s moves appear to be part of a concerted effort to stabilize the markets and instill greater confidence in the outlook for the economy.


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