Copasir, an Italy's parliamentary security committee, said last week that the government should prevent Huawei from helping construct the 5G Network. (Credit: AP /Mark Schiefelbein)
Huawei could help build Italy's 5G network
An Italian minister has said that Chinese telecoms firm Huawei should be allowed to help Italy build its 5G Network despite lobbying from the US. The US believes Huawei could create a backdoor for China to access the new network, an accusation Huawei has dismissed.
The Italian minister, Stefano Patuanelli, told La Stampa daily that what the US feared would not be possible. He said: "We have passed legislation that guarantees national security. With the right defenses, the possibility of (Huawei's) access is not up for debate."
European Central Bank's low rate policy criticized
The president of the Dutch central bank is warning that the European Central Bank's low interest rate policy could be counterproductive. In an interview with a Dutch newspaper, Klaas Knot said that it could cause an environment where investors take excessive risks, and young people might have to save more money than they would otherwise.
He added: "This worries me, because temporarily low interest rates are something quite different from persistently low interest rates… it is also an example of how our low interest rate policy may eventually shoot itself in the foot. If people start saving more in response to the low interest rates, this will add further downward pressure on inflation."
Greece agrees to pipeline project with Cyprus and Israel
The Greek government plans to create a pipeline with Cyprus and Israel to transport oil from the Eastern Mediterranean to Europe. Greek prime minister Kyriakos Mitsotakis will sign an agreement making the plan official on 2 January. It comes during a time of increasing tension between Cyprus, Turkey and Greece around claims to newly discovered gas-rich areas in the Mediterranean.
Turkey was sanctioned by the European Union for its efforts to look for oil off the Cyprus coast. Eastern Libyan forces also seized a boat on 22 December that had a Turkish crew on board. This is despite a contentious deal with Libya's Tripoli-based government that allowed Turkey to access the eastern Mediterranean Sea.
Read More: Why are tensions rising between Greece and Turkey in the Mediterranean?