Europe Weekend: Babiš's ANO Under Pressure in Czech Senate Vote, French Student Protests Spread, Lisbon Marches Over Living Costs
Plus thousands demand climate action in Brussels. Short summaries from Euronews's Sunday coverage.
Europe's Economic Squeeze: Inflation Rising, Volkswagen Plans 100,000 Job Cuts, Euro Near 17-Month Low
Photo: Euronews
FXStreet's October outlook paints a tough picture for Europe. EU annual inflation was 3.2% in August 2026, up from 3.0% in July and 2.4% a year earlier. Romania (6.3%) and Lithuania (5.6%) had the highest rates, while Sweden (0.3%), Estonia (1.3%) and Czechia (1.5%) had the lowest.
In industry, Volkswagen's supervisory board approved a group transformation plan that cuts 100,000 jobs. Management is reviewing the future of four German plants, and media reports say it is considering discontinuing the Seat brand.
In currency markets, EUR/USD was near a 17-month low of 1.1161, reached on a Monday, and has fallen more than 7% from its yearly peak, with concerns over France's public finances cited as a factor.
Airlines worldwide are also cutting lower-cost flights because fuel prices have doubled since the start of the war in Iran.
Sources: FXStreet, EU News Monthly (October 2026)
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