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European banks’ exposure to commercial real estate could erode financial stability if the economy is hit by a

Argentina has a new far-right president, and it was just a matter of hours before he became the internet’s new favourite meme. The populist leader Javier Milei is often compared to Donald Trump and Brazil’s Jair Bolsonaro. He takes over from the centre-left economy minister Sergio Massa having received 55.7 per cent of the vote on Sunday. Milei is a self-described anarcho-capitalist and has made a lot of controversial pledges already, stating his intention to close the Argentinian central bank. However, at least from an outside perspective, it’s not his policies that are catching the eye of social media users. Instead, it's his incredibly hyper stage presence, with a penchant for calling people "s*** leftards". Others pointed to his appearance, comparing him to a character from 90s comedy series The Fast Show or a contestant on Bullseye. Another joked: "Argentina’s new president is the Welshest-looking man I’ve ever seen. He looks like he’s been chairman of the local rugby club for decades & is known to down a pint in less than 5 seconds while simultaneously smoking a fag." Safe to say, he's caused a bit of a stir on social media since the result was announced over the last few days. "Argentina's situation is critical," Milei said after the result. "The changes our country needs are drastic. There is no room for gradualism, no room for lukewarm measures." Sign up for our free Indy100 weekly newsletter How to join the indy100's free WhatsApp channel Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings

By Louisa Gouliamaki SESKLO, Greece The fires came first. Then the floods. In the small village of Sesklo

Thousands of Israeli troops are trying to find the man who heads the organisation's political wing.

As an imminent eruption looms thousands of Iceland residents await their fate as their town could be wiped out within days. Thousands of earthquakes rocked the southwestern peninsula of Reykjanes on Saturday 11 November leading semi-molten rock to ravage below the surface as the tremors caused a 15km long dyke to form, cracking the community in two as the ground was pushed upwards. Some 3,400 residents from the town of Grindavik which lies on the path of the expected fissure vent eruption were forced to evacuate, they described the ‘apocalyptic’ scenes of their much-loved home town as they briefly returned to collect their belongings. The whole population waits in limbo as they fear the fate of their close-knit community, many have already lost their homes whilst others do not know if their residencies still stand as earthquakes have continued to strike. The displaced population have moved across the country as fellow Icelanders have offered their spare rooms and summer homes. Since, volcanologists have noted a change in the stage of the eruption, making it more likely to come over the next few days. Tamsin Mather, a professor of Earth Sciences from the University of Oxford told The Independent the most troubling challenge to overcome is the uncertainty of when the eruption will come. She said: “It’s being very well managed in my opinion but it could accelerate very quickly as the heightened state of activity continues.” When is it expected to erupt? The Iceland Civil Defence noted “very clear signs of magma along the dyke” less than 1km below the surface, report RUV. Víðir Reynisson, director of Civil Defence told the state broadcaster: “The likely time of something happening along the dyke, especially in the centre, if it happens, is within days not weeks. “If this continues without an eruption the chance of one decreases with time pretty rapidly. But then we see the changes at Svartsengi which introduce possibly the next stage of this.” The area near the Svartsengi power plant, about four km north of Grindavík, has entered a “new eruption phase”, an Icelandic volcanologist has suggested. The land near the power plant is swelling as a chamber some 4.5 kilometres below the surface fills with magma at a rate of around 50 cubic metres per second, according to Professor Thorvaldur Thordarson. “The land is rising much faster now. This happens simultaneously because the magma is creating space and thus raising the surface of the earth,” Professor Thordarson told Iceland Monitor. It is still unclear when the eruption will take place as Grindavik evacuees remain on tenterhooks. Professor Mather added the eruption could happen suddenly but the Icelandic Met Office are knowledegable, well-resourced and working through the night to alleviate any danger. How dangerous would an eruption be? In the worst-case scenario, an eruption could obliterate the entire town, wiping out schools, workplaces and cherished family homes. However, two walls are being built around the Svartsengi geothermal plant to divert the potential lava flow away from the plant which provides hot water used for heating for 30,000 people, says RUV. Professor Mathers said: “The lava could have an impact on the power station, the town and infrastructure. I really hope there are no fatalities or injuries as they have done everything to avoid that.” Problems could arise if the lava flows towards the power station and the town’s infrastructure, she added. The civil defence said in a conference earlier today that the risk of an eruption remains high but they cannot quantify the exact risks, say RUV. Iceland is highly susceptible to natural disasters because it lies on the Mid-Atlantic Ridge – a divergent plate boundary where the North American Plate and the Eurasian Plate are moving away from each other. The country has an eruption every four to five years. The most disruptive in recent times was the 2010 eruption of the Eyjafjallajokull volcano, which spewed huge clouds of ash into the atmosphere and grounded flights across Europe for days because of fears ash could damage aeroplane engines. Professor Mathers, an expert in Iceland volcanology explained there are multiple factors that could affect the impact of an eruption. She said: “Speculation isn’t terribly helpful but once the eruption starts, they will be able to think about the contours and the direction of the lava flow.” It is hard to predict the flow path until the eruption starts, she added. The best case scenario would be for the eruption to take place in the base of a valley, so the lava flows and does not travel far, said Professor Mather. The worst case would be for the eruption to occur on high ground so the lava can flow down over a vast area. Multiple factors could impact how destructive the explosion is, including the wind direction which influences where pyroclastic material and ash will blow. Sulfur dioxide and hydrogen sulphide will also come up in an eruption which can affect air quality across a widespread area, added Professor Mather. Scientists say an eruption would likely produce lava but not an ash cloud. What would happen to residents? Civil protection authorities told Associated Press that even if there is not an eruption soon, it’s likely to be months before it is safe for residents evacuated from the danger zone to go home. In a worst-case scenario, if the eruption does happen close to the town of Grindavík it could devastate the entire town, as earthquakes have already destroyed homes. The Icelandic Civil Defence told their state broadcaster the possibility of residents returning home to clear their homes, many have already been able to collect necessities and pets. Jóhanna Lilja Birgisdóttir, a senior psychologist at Grindavík’s social services department revealed the town’s plan for displaced schoolchildren to RUV. She said in a conference this morning there are two possible solutions: for the children to attend school where their family is staying or for school children to group together and attend schools in different parts of Reykjavík from next Wednesday. Currently, Grindavik residents can apply for short-term accommodation through a government portal, where they can stay until mid-January. What would an emergency response be? An emergency response is already underway as magma intrusion measurements predict an eruption could arrive in days. Once an episode starts, the area will be monitored for decades to come and emergency teams and experts will respond to risks as and when they come as once an eruption begins, they are better placed to track the likely disruption, explained Professor Mathers. As it stands, Grindavik residents will not be able to return home as the magma intrusion is carefully monitored along the 15km dyke Read More Iceland volcano update: Eruption could happen with just 30 minutes warning Iceland residents describe ‘apocalyptic’ scenes as they flee volcano threat Iceland volcano could erupt like a ‘can of fizzy drink’ Iceland officials reveal where volcano will likely erupt Biggest volcanic eruptions in the last 10 years as Iceland town faces devastation Is it safe to travel to Iceland? Your rights if you have a holiday booked

Russia has placed a Ukrainian singer who won the 2016 Eurovision Song Contest on its wanted list, state news agencies reported Monday. The reports said an Interior Ministry database listed singer Susana Jamaladinova as being sought for violating a criminal law. The independent news site Mediazona, which covers opposition and human rights issues, said Jamaladinova was charged under a law adopted last year that bans spreading so-called fake information about the Russian military and the ongoing fighting in Ukraine. Jamaladinova, who performs under the stage name Jamala, is of Crimean Tatar descent. She won the 2016 Eurovision contest with the song “1944,” a title that refers to the year the Soviet Union deported Crimean Tatars en masse. Her winning performance came almost exactly two years after Russia annexed Crimea as political turmoil gripped Ukraine. Most other countries regard the annexation as illegitimate. Russia protested “1944” being allowed in the competition, saying it violated rules against political speech in Eurovision. But the song made no specific criticism of Russia or the Soviet Union, although it drew such implications, opening with the lyrics “When strangers are coming, they come to your house, they kill you all and say ‘We’re not guilty.’” Read More Ukrainians who fled their country for Israel find themselves yet again living with war 10 years later, a war-weary Ukraine reflects on events that began its collision course with Russia With patriotic reggaeton and videos, Venezuela's government fans territorial dispute with Guyana

China’s central bank has encouraged lenders to cap the amount of new loans they issue in early 2024

Las Vegas hotel union workers have overwhelmingly voted to approve their contract agreement with casino giant Caesars Entertainment

Germany’s budget crisis deepened when the Finance Ministry imposed an emergency spending freeze in response to last week’s

Telkom SA SOC Ltd. is in advanced talks to sell its tower assets to a private equity firm.

The Philippines’ Bureau of the Treasury is looking to team up with the central bank to expand the

The prospect of a resolution of the US criminal investigation into Binance, crypto’s linchpin exchange, led to a