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European banks would leave London “in very short order” if Britain voted to exit the European Union, a senior Goldman Sachs executive said in a newspaper interview published on Monday. Michael Sherwood, a vice-chairman at the bank, said the prospect of a British withdrawal was a real worry given Prime Minister David Cameron’s plans to hold a referendum on the subject if re-elected in 2015. … Goldman’s Sherwood predicted European banks would quickly relocate if Britain did sever its EU ties. “Forget what we would do. Every European firm would be gone in very short order,” he was quoted as...

BUDAPEST, Hungary -- What do you do when you learn you are not the person you thought you were, when you learn you are the very thing you hated? It was a question Csanad Szegedi was confronted with -- one that led to a remarkable transformation. Szegedi was once a rising star in Hungary's third largest and most controversial political parties, Jobbik. Jobbik has been labeled fascist and anti-Semitic. Its leader once asked for a list of all the Jews in Hungarian government. And Szegedi, still in his 20s, was on a trajectory to lead the party someday. "I joined...

Suddenly a handshake from David Cameron probably seems an awful lot more inviting. Former president Nicolas Sarkozy could become the next wealthy Frenchman to flee to Britain over his country’s looming tax hikes on the rich. Mr Sarkozy – who famously snubbed the Prime Minister’s attempt to shake his hand after Mr Cameron vetoed changes to the EU treaty in 2011 – is reportedly planning to move to London to set up a £800million investment fund. The 57-year-old, who was ousted from office last June, has amassed a fortune from £150,000-an-hour public speaking engagements and is now said to be...

A dam has broken on the flood-swollen River Elbe in eastern Germany, forcing thousands of people to leave their homes around the city of Magdeburg. Water levels in Magdeburg stood at 7.44m (24ft) on Sunday, nearly four times higher than normal (2m). In Hungary, water levels on the Danube in the capital Budapest are believed to have peaked and officials say defences should prevent flooding in most areas. At least 15 people have died in the floods in Central Europe. Analysts say the damage will cost billions of euros to clean up. The authorities in Germany are investigating an anonymous...

The gilded lifestyle of MEPs has been compared to the uncontrolled excesses of ancient Rome after research showed their perks have not been dented despite biting austerity measures. From Italian MEPs who enjoy free haircuts to Maltese ones who get 52 free gallons of petrol a month, the perks—and expenses—continue unabated for the representatives of European Union nations. MEPs from the 27 EU nations are paid salaries of £137 million ($207 million) a year, according to research by German pricing watchdog Preisvergleich.de, and some earn 740 percent more than the average citizen. …

A Hungarian pensioner was dragged off his mobility scooter and mauled to death by a pair of killer donkeys. Sandor Horvath, 65, was bitten and trampled on so much that when his body was found it was believed had been torn apart by wolves. Mr Horvath, was chased and pulled off the scooter at a farm in Magyarszecsod where he was visiting his farmer friend. His mutilated remains were found by the farm owner who called the police, believing his friend had been attacked by wild dogs. But a postmortem revealed the bites and markings had come from the donkeys....

The European Union is to ban olive oil jugs and dipping bowls from restaurant tables in a move described by one of Britain’s top cooks as authoritarian and damaging to artisan food makers. The small glass jugs filled with green- or gold-colored extra virgin olive oil are familiar and traditional for restaurant goers across Europe, but they will be banned from 1 January 2014 after a decision taken in an obscure Brussels committee earlier this week. From next year, olive oil “presented at a restaurant table” must be in prepackaged factory bottles with a tamper-proof dispensing nozzle and labeling in...

Amid growing calls from Tory MPs for David Cameron to respond to the Ukip threat by bringing forward legislation on an EU referendum, Farage warned that his party would not go away even if No 10 "starts singing the same song". William Hague, who famously suffered a major defeat in the 2001 election after tacking to the right, called for a cautious response to Ukip as he warned of the dangers of "quick fixes". Philip Hammond, the defence secretary, said many Ukip voters were "frustrated Conservatives". As the Tories work out their response to Ukip, which won nearly a quarter...

As the self-declared "capital" of the ultra-nationalist Jobbik Party, the town of Tiszavasvári prides itself on being a showcase for how the whole of Hungary might one day look. Since winning control of Tiszavasvári's local council three years ago on a pledge to fight "Gipsy crime", the party has been on a vigorous clean-up campaign, banning prostitution, tidying the streets, and keeping a watchful eye on the shabby Roma districts at the edge of town. It even swore in its own Jobbik "security force" to work alongside the police, only for the uniformed militia, which drew comparisons with Hitler's brown-shirts,...

Explanation: Last week, as the Sun set a Full Moon rose over the springtime landscape of Tihany, Hungary on the northern shores of Lake Balaton. As it climbed into the clear sky, the Moon just grazed the dark, umbral shadow of planet Earth in the year's first partial lunar eclipse. The partial phase, seen near the top of this frame where the lunar disk is darkened along the upper limb, lasted for less than 27 minutes. Composited from consecutive exposures, the picture presents the scene's range of natural colors and subtle shading apparent to the eye. At next week's New...

Europe Has A Crisis — And It's Much Bigger Than Cyprus Joe WeisenthalMarch 23, 2013REUTERS/Christian Hartmann In a way, Europe should be thrilled by the week that was because financial markets barely batted an eye at the crisis in Cyprus. But Europe has a problem on its hands that's bigger than Cyprus: The economy stinks. This week we got fresh proof that things are bad or getting worse. In France, the Flash PMI report (which is a mid-month look at the combined services and manufacturing sectors of the economy) came in dismal, with the output index falling to a four...

Once trust is lost it is very slow to recover. For now, much of Europe is acting as if it believes Cyprus is a "one time" thing? But isn't that what we heard about Greece? Who is next? Italy? In an article on Handelsblatt the chief economist of Commerzbank says: Italy should bring a unique wealth tax. It is a myth to talk of crisis-strapped states. Even the German Institute for Economic Research (DIW) and the chief economist of Commerzbank, Joerg Kraemer says the numbers suggest a different view. Kramer relies on surveys of the European Central Bank. Net financial...

A great sense of alarm is spreading among ordinary Europeans today, especially in the south and east of the continent. Now even the elitist media are giving us the worst international news since the Cold War. Americans do not want to hear this, either. Well, you may not be interested in evil, but evil may be interested in you. Listen up. This could be important. The Washington Post just told us that a dictatorial strongman has risen to power in Hungary, a man named Viktor Orban. In a two-hour parliamentary session, Orban forced radical changes in the Hungarian constitution to...

A great sense of alarm is spreading among ordinary Europeans today, especially in the south and east of the continent. Now even the elitist media are giving us the worst international news since the Cold War. Americans do not want to hear this, either. Well, you may not be interested in evil, but evil may be interested in you. Listen up. This could be important. The Washington Post just told us that a dictatorial strongman has risen to power in Hungary, a man named Viktor Orban. In a two-hour parliamentary session, Orban forced radical changes in the Hungarian constitution to...

Controversy has erupted over next Tuesday's European Parliament resolution "on eliminating gender stereotypes in the EU", meant to mark international women's day, after libertarian Swedish MEPs from the Pirate Party spotted the call for a ban in the small print. While not legally binding, the vote could be the first step towards European legislation as the EU's assembly increasingly flexes its political muscle within Europe's institutions.

The Daily Telegraph has seen confidential spending proposals and internal documents planning an unprecedented propaganda blitz ahead of and during European elections in June 2014. Key to a new strategy will be “public opinion monitoring tools” to “identify at an early stage whether debates of political nature among followers in social media and blogs have the potential to attract media and citizens’ interest”. Spending on “qualitative media analysis” is to be increased by £1.7 million ($2.7 million), and while most of the money is to be found in existing budgets, an additional £787,000 ($1.24 million) will be need to be...

Czech fighter contract as Gripen deal runs down Fighter manufacturers are preparing to battle for the right to provide the planes that should protect Czech airspace after 2015 © ČESKÁ POZICE A fight between the Gripen JAS-39 and F-16 to patrol Czech airspace looks on the cards The clock is ticking down to the expiry of the 2015 contract under which JAS-39 Gripen supersonic jet fighters hired from the Swedish government to protect Czech skies. And while the date might still seem a long way off, speculation has been mounting about whether a deal for the Gripen planes will be...

RPT-Swiss opt for Saab's Gripen fighter jets - paper (Repeats to additional subscribers) ZURICH Nov 30 (Reuters) - Switzerland has chosen to replace its fighter jet fleet with Swedish defence and aerospace group Saab's JAS-39 Gripen, Swiss newspaper Tagesanzeiger reported on Wednesday, citing unnamed sources close to the government. Neutral Switzerland has wrangled for the past three years over whether to replace its ageing Northrop F-5E/F Tiger fighters, purchased in 1976 and 1981, with up to 33 new aircraft. Saab shares were up 8.5 percent to 117.10 Swedish crowns by 1345 GMT after the newspaper report. The newspaper said the...

US concerned over Norway's $8bn fighter selection programme, Saab's Gripen may be favoured news 15 January 2008 Helsinki: Almost immediately after the Eurofighter consortium distanced itself from the Norwegian fighter replacement programme in December last year, citing alterations in the bidding process as favouring the US JSF-35 programme, it is now the turn of the US to cry foul saying that the process may actually be skewed in favour of the Swedish JAS-39 Gripen-N programme. Post-withdrawal of the Eurofighter Typhoon fighter from the competition, the Lockheed Martin JSF-35 and the Saab JAS-39 Gripen-N fighters are now in contention for the...

Gripen operational cost lowest of all western fighters: Jane’s The study conducted by IHS Jane's Aerospace and Defense Consulting, compared the operational costs of the Gripen, Lockheed Martin F-16, Boeing F/A-18 Super Hornet, Dassault’s Rafale, Eurofighter Typhoon and the F-35 aircraft. The operational cost of the Swedish Saab Gripen aircraft is the lowest among a flightline of modern fighters, confirmed a White Paper submitted by the respected international defense publishing group IHS Jane’s, in response to a study commissioned by Saab. The paper says that in terms of ‘fuel used, pre-flight preparation and repair, and scheduled airfield-level maintenance together with...