Global stocks sank Wednesday after US President Donald Trump said he was not satisfied with talks that are aimed at averting a trade war with China. Equities were also dented by poor eurozone economic data, and as Trump cast doubt on a planned summit with North Korean leader Kim Jong Un. “Trump (is) continuing to drive uncertainty over global trade,” said analyst Joshua Mahony at trading firm IG. “European markets are following their Asian counterparts lower, as a pessimistic tone from Trump is compounded by downbeat economic data,” he added. Markets had surged Monday after US Treasury Secretary Steven Mnuchin and Chinese Vice Premier Liu He said they had agreed to pull back from imposing threatened tariffs on billions of dollars of goods, and continue talks on a variety of trade issues. However, Trump has declared that he was “not satisfied” with the status of the talks, fuelling worries that the world’s top two economies could still slug out an economically pain
The Spanish Tax Agency are considering withdrawing one of the four fiscal crimes of which Cristiano Ronaldo is accused if he pleads guilty and accepts various sanctions, according to El Mundo.
The Treasury are reportedly exploring the option of withdrawing one of the accused crimes and halving the fine for the alleged frauds on the taxation of his image rights, if the Real Madrid star pleads guilty.
Ronaldo, 33, would also have to accept a minor prison sentence and pay a fee of around €10 million for that to happen, the newspaper claims.
One possible scenario, the report claims, is that the case would close if Ronaldo accepts three tax crimes and a fraudulent amount of around €6.25m.
The Portugal superstar would have to pay that amount together with a fine that would leave the total close to €10m.
On the other hand, according to El Mundo, the administrative agreement could put forward that Ronaldo pays €20m more - a worst-case scenario that would see him having to part with around €30m.
And should both parties fail to reach an agreement, there would subsequently be a trial.
The Treasury would then demand the full €14.7m amount from Ronaldo and accuse him of four fiscal offenses that could mean a prison sentence, if he's convicted, with a fine amounting to almost €100m.
The alternative scenario in case of a trial is that Ronaldo wins and thus avoids prison, but, even if the judge acquitted him, he would still have to pay an administrative sanction demanded by the Treasury, which could equal more than €30m.
Ronaldo appeared in court last year to respond to the allegations, insisting "I always pay what I have to pay; I do things the right way and I will continue to do so".
His representatives, Gestifute, meanwhile, have also persistently denied any wrongdoing.
The former Manchester United star has remained quiet when it comes to discussing the alleged tax crimes publicly, although he did appear to attack the "fake news" surrounding his case in an Instagram post back in March.
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