Eurotopics.net

The Russian currency has plunged to a record low. At the beginning of the year the rouble exchange rate was 76 per euro but in the last two months it has dropped from 89 to 106 roubles per euro. On the Moscow foreign exchange market the US dollar and the euro are currently trading at rates even higher than those triggered by the panic shortly after the war with Ukraine began. The main reason for the drop in value is the slump in foreign exchange revenues due to sanctions and increased imports.

Germany is facing hard times: in its latest forecast the International Monetary Fund predicts that the country's economy will shrink by 0.3 percent in 2023. While other states in the Eurozone are at least registering slight growth, Germany takes last place among the economies included in the analysis. Europe's press takes a worried look at the reasons for the negative trend.

The Russo-Georgian War began 15 years ago, on 8 August 2008. Russia used the long-simmering conflict over the breakaway regions of South Ossetia and Abkhazia - which formally belong to Georgia - to attack Georgia and permanently secure an increased military presence in the region. But Russia wields great influence far beyond this in Georgia today, commentators emphasise.

The Italian government has announced a hefty 40 percent windfall tax for banks. The government hopes to raise "several billion" euros to ease the burden on citizens with the move, said Matteo Salvini, deputy prime minister and leader of the Lega party. Europe's press takes stock.