FT News Briefing On trial in the Vatican
Nov 17, 2021
Tensions are rising as the U.S. and China prepare for talks to address nuclear arsenals. In Europe, Germany has paused the Nord Stream 2 pipeline certification, raising energy security concerns. Meanwhile, a significant trial unfolds in the Vatican, focusing on a cardinal accused of financial mismanagement linked to a luxury property investment. This unprecedented case highlights the need for accountability within the Catholic Church. Additionally, the challenges of regulating cryptocurrency advertising are explored, particularly regarding the meme coin Floki Inu.
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Nord Stream 2 Suspension
- Germany suspended Nord Stream 2 certification due to the applicant's altered application process, not geopolitics.
- This bureaucratic hurdle adds to the pipeline's existing political and legal complexities.
Nord Stream 2 Politics
- Nord Stream 2 faces opposition from Eastern European nations due to fears of Russia bypassing Ukraine and exerting political pressure.
- The timing of the suspension coincides with heightened concerns over Russian troop movements near Ukraine.
Nord Stream 2 Legal Challenges
- Nord Stream 2's structure violates EU anti-monopoly laws, requiring unbundling of ownership and operation.
- Nord Stream 2 proposed a workaround, but its legality is uncertain and likely heading to the European Court of Justice.