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Property owners on Airbnb earn an average of €530 a month

airbnb2The number of short-term renters booking through Airbnb in the Lisbon area has doubled in the past year with four nights now the average length of stay.

Rents in Lisbon are rising, especially in the more touristy areas, with average earnings now at €530 per month, equivalent to the current national minimum wage, but much of this income may not be registered for tax purposes.

Norway expresses doubt over UK cooperation

norwayParliamentThe prime minister of Norway said on Tuesday that she is not yet sure if the UK should join the European Free Trade Association (EFTA).

“The most important thing we can do is to safeguard national, Norwegian interests,” PM Erna Solberg said.

EU searches for “new impulse”

merkelThe leaders of Germany, France and Italy said they will go for “a new impulse” for the European Union in the wake of the Brexit vote.

The three leaders said they would push for greater cooperation on security issues, including "developing our European defence and taking necessary engagements on joint operations".

Gibraltar and Scotland explore ways to keep EU status

gibraltarGibraltar is in talks with Scotland about various options to keep parts of the UK in the European Union.

Majorities in both Gibraltar and Scotland voted in favour of remaining in the EU as did Northern Ireland which could potentially be involved in the talks. More than 95% of Gibraltarians voted to stay in.

Sterling falls to two year low against the euro

eurozoneThe pound today fell to its lowest level in two years against the euro, dragged down by political and economic uncertainties triggered by the surprise victory for 'Brexiteers' in last Thursday’s Referendum.

By mid-morning, the pound had fallen 2.17% against the dollar to $1.336, and 1.64% down against the euro with one pound buying just 1.211 euros on the London foreign exchange market.

Norway rejects Snowden request for safe travel

snowdenA Norwegian court has said it will not deal with a lawsuit aimed at preventing the possible extradition of American whistleblower Edward Snowden.

Snowden, 32, formerly employed by his country’s National Security Agency, took refuge in Russia in 2013 after revealing information about US domestic and overseas surveillance. He has resided in an undisclosed location in Russia ever since.

Iceland dreams of enticing UK into “triangle”

icelandmenThe president of Iceland has welcomed the news of Britain’s departure from the EU, saying it is good news for a northern “triangle”.

Ólafur Ragnar Grímsson, who through five terms in office has chalked up twenty years in power, believes that Brexit will increase the importance of northern European countries.

Portugal's political parties fear a Referendum - except the Left Bloc

6231The verdict of the European Commission on whether or not to apply sanctions on Spain and Portugal for missing their 2015 financial targets is due on July 5th with the Commission leaning towards punishing the two countries.

Portugal and Spain can expect fines of up to 0.2% of their respective GDPs, in addition to the suspension of access to essential structural funds.