Politics / June 25, 2024 Yes, they disagree on Gaza. But the Democratic primary rivals are also far apart when it comes to taxing billionaires and multinational corporations. Ad Policy Jamaal Bowman and George Latimer during a debate on May 13, 2024.(News12) Media coverage of Tuesday’s Democratic primary battle between US Rep. Jamaal Bowman—the progressive … Read more
Cyprus households have a median net wealth of €200,400 in 2021, with the top 10% holding 46.1% of the net wealth. Wealth inequality is increasing, with the Gini coefficient for wealth distribution rising. Inheritance and bequests are a major factor in explaining wealth inequality. Returns to capital have grown faster than returns to labor, leading to greater wealth accumulation by households owning capital. High wealth inequality has profound socioeconomic effects and political consequences in shaping election outcomes and policies.
Spain’s Socialists won the biggest share of the vote in Sunday’s Catalan elections, dealing a serious blow to more than a decade of separatist governance in Catalonia. The Socialists had 42 seats in the 135-seat chamber, while hardline separatist party Junts was in second place with 35 seats and the more moderate separatist party ERC had 20 seats. The result is an existential threat to separatist governance in Catalonia, which led an illegal independence referendum in 2017. Separatist parties do not have enough seats to form a coalition government, and there is a risk the vote may need to be repeated. Separatist sentiment in Catalonia has decreased, with the pro-independence movement losing energy and unity in recent years.
Prime Minister Pedro Sanchez considered resigning after a court launched a business corruption probe into his wife’s private dealings. However, thousands of Socialist Party supporters gathered in Madrid to urge him to stay, denying the allegations against his wife and stating he will announce his decision on Monday. Opposition parties condemned Sanchez’s move, while Madrid’s prosecuting authority appealed the court’s decision to investigate the complaint against his wife.