Eurozone inflation hits record, as gas crunch looms

14 Sept 00:41 Key points summarised by AI

Eurozone inflation accelerated to a new record high of 8.6% in June, primarily driven by a 41.9% surge in energy prices and an 8.9% rise in food costs, largely attributed to Russia's war in Ukraine.
The economic outlook for the Eurozone appears bleak, with analysts warning of a severe gas crisis as Russia increasingly uses energy exports to counter sanctions, raising the prospect of energy rationing.
The European Central Bank (ECB) is poised to implement its first interest rate hike in over a decade on July 21, aiming to stabilize inflation at its 2% target amidst growing political pressure to control prices.
The ECB faces calls to adopt more aggressive measures, similar to the US Federal Reserve, to combat persistent inflation, despite the potential risks of triggering a recession.

Macron condemns those who 'sought to bring down the Republic' after rioting mars nationwide protests

Today 12:56 Key points summarised by AI

President Macron condemned widespread rioting and looting during nationwide protests, blaming far-left activists and criminals for the "unrestrained violence" and vowing accountability for those who "sought to bring down the Republic."
Over 2,400 arrests were made as protests against rising living costs and poor school conditions escalated, causing extensive damage to public buildings and businesses in cities like Paris, Limoges (where City Hall burned), Marseille, and Lyon.
The unrest, which organizers hoped would revive the "yellow vest" movement, saw political leaders trade blame, with Macron instructing prefects to protect public buildings and potentially ban future protests to prevent further disorder.