SIR EUROPA: SUMMER FIRES AND MORTGAGE MARKET CRISIS AT STRASBOURG PARLIAMENT

The Summer news breaks into the EU Parliament house. The plenary session, due in Strasbourg next week, will focus on a discussion (Monday 3rd) about the fires that between July and August "devastated Peloponnesus and central-southern Italy, killing dozens of people and causing substantial damage to property, wildlife and the economy". The political groups intend to "draw some conclusions about the preventative and early alert measures that might be taken" in the member countries. A round table will be held on Wednesday 5th September with MEPs and the commissioner for economic and monetary affairs, Joaquìn Almunia, about the "collapse of the high-risk mortgage market in the US", the so-called ‘subprime’ mortgages, which has got the world’s financial system into a state". "The crashes on the Stock Exchanges, the potential repercussions on the banks, the savers and the investors and more generally the fear of a new, serious economic crisis pushed – according to a message from the EU parliament – the major central banks, such as the ECB, to take action on the markets". On Tuesday 4th the Portuguese president Aníbal Cavaco Silva will be in Strasbourg to give an official speech to Parliament.