The dramatic gains by right-wing and nationalist parties in this past weekend’s voting across Europe for a new European Parliament has left leaders of the region most powerful countries reeling while emboldening Italian leader Giorgia Meloni.
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In a compromise, Germany’s cabinet agreed to allow China Ocean Shipping Company a nearly 25 percent stake in the country’s largest port Wednesday, according to Reuters.
German Chancellor Olaf Scholz and Social Democrat ministry leaders pushed the deal through in spite of opposition within the cabinet, landing on a 24.9 percent stake in one of three terminals in Germany’s Hamburg port, Reuters reported. Although officials say they will not allow Cosco any say over port operations or management, it drew sharp criticism from members of the foreign ministry who have grown wary of foreign investment.
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