Swiss voters back Netflix tax and Frontex funding boost
Swiss citizens approved a tax on streaming services and an increase in funding for the European border agency Frontex in a referendum held on Sunday, May 15.
The first proposal, commonly known as Lex Netflix in Switzerland, would see streaming services invest 4% of their revenue into Swiss film-making, in line with requirements already in place for national television broadcasters. The proposal was supported by 58.42% of the voters, while 41.58% voted against it.
The second proposal involved raising Switzerland’s annual contribution to the Frontex border agency to $61 million from $24 million. 71.48% of voters backed the increase and 28.52% opposed it. Earlier, the Swiss government expressed concern that a failure to provide funding could result in Switzerland being excluded from the Schengen treaty.
Furthermore, Swiss voters approved a law establishing that all citizens would be a possible source of organ donations when they die unless they explicitly opt out. Earlier, potential organ donors were required to give consent during their lifetime. It was supported by 60.2% of the vote, whereas 39.8% of voters opposed it.
Cryptocurrencies pose real threat to traditional payment systems
Currently, the cryptocurrency market is facing a crisis. Digital currencies are hitting their all-time lows, their capitalization is falling, and investors are panicking. Moreover, experts highlight a new danger adding fuel to the fire. According to CEO of UK digital bank Starling Anne Boden, cryptocurrencies pose a serious threat to traditional payment systems.
15:01 2022-06-29 UTC+00
Experts urge Europe to rein in spending
According to numerous forecasts, the European economy has faced a real threat of a recession. An increasing number of experts are concerned about a looming economic crisis of stunning proportions.Another alarming forecast was presented by experts at the Financial Times who called on local authorities and the population to reduce spending.
13:48 2022-06-29 UTC+00
Biden intends to stop trade war with China
The existing conditions and common sense are forcing President Joe Biden to settle the problem created by his predecessor Donald Trump, who began a trading war with China. The global situation has changed so considerably that now Washington cannot afford a war with Beijing.
10:05 2022-06-29 UTC+00
US crude inventories might shrink to 40-year lows
Crude inventories in the US are dwindling faster than expected, having almost contracted to the lowest levels in the last 40 years. Opinion columnist at Bloomberg Javier Blas reported that US strategic crude reserves are about to reach 358 million barrels, the weakest level in the recent four decades.
06:15 2022-06-29 UTC+00
Biden blames “Putin’s price hike” for record-high inflation
The US inflation continues to dominate the headlines. However, most Russians do not see any catastrophe in the 8.6% rise in prices. Compared with the Russian official inflation rate, there’s nothing the matter with that. Meanwhile, in the US, it is a real problem that received the name of “Putin’s price hike.
12:59 2022-06-28 UTC+00
EU treasury exhausted due to billions sent to Ukraine
The European Union continues to send aid to Ukraine estimated at billions despite a significant pressure put on the EU budget. European Commissioner Johannes Hahn said that the funds sent to Ukraine hurt the EU’s coffers. Due to the simmering crisis, Brussels may have to revise the seven-year budget sooner than was planned in 2024.
11:54 2022-06-28 UTC+00