The 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.
A 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.
The 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.
The 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.
It is a case of 'déjà vu all over again' as Spain’s second general election within six months has brought in nearly the same result as the earlier vote last December.
The conservative People’s Party took the lead, winning 137 seats – 14 more than before. The socialists took 85 seats, followed by Unidos Podemos with 71 seats and centrist Ciudadanos with 32.
An unflustered President of the Republic of Portugal, Marcelo Rebelo de Sousa said that for Portugal, a Referendum "is an issue that does not arise," explaining to reporters that Portugal "wants to continue in the European Union," but giving no supporting data.
"Portugal is the European Union, feels good in the European Union and wants to continue in the European Union. The Constitution says that any decision on a referendum is for the President to make and therefore this is an issue that does not arise at this point," said the president today to counter calls from the Left Bloc to hold a Referendum unless the European Commission stops bullying Portugal with threats of sanctions.
Left Bloc leader Catarina Martins has called for a Referendum on Portugal's continued EU membership if the European Commission continues its path to impose sanctions for the government's 2015 failure to hit budgetary targets.
If the government does not "take a stand against blackmail" from the European Commission, Martins called on Prime Minister António Costa to authorise a national Referendum to see if the nation wants to continue as part of the European Union.
A Spanish registered 4x4 skidded and flipped over the side of the Guadiana International Bridge this morning, hitting the ground in the Castro Marim Marshland Reserve i.e. on the Portuguese side (see picture below)
One of the occupants managed to get out of the Mitsubishi before it became airborne at around 11:00 this morning: all were female Spanish nationals between 20 and 30-years-old.
