Venezuela takes steps toward fixing economy

CARACAS, Venezuela (AP) — Venezuela’s President Nicolas Maduro has announced long-awaited economic reforms, but analysts say they’ll barely have any effect in rescuing the economy.

The socialist president has raised gasoline prices and devalued one of the oil country’s multiple exchange rates. He assures supporters that doesn’t amount to a dramatic austerity scheme.

Analysts agree. They say the the modest adjustments have no hope of bringing in the money Venezuela needs to save its crashing economy.

Underlining the gravity of the situation, the Central Bank said Thursday said inflation hit 181 percent last year, and the economy shrank by nearly 6 percent.

EU: Plan to cap asylum seekers is unlawful

BRUSSELS (AP) — The EU’s top migration official says an Austrian plan to cap asylum-seeker numbers is unlawful.

Dimitris Avramopoulos said in a letter Thursday that “Austria has a legal obligation to accept any asylum application that is made on its territory or at its border.”

The letter to Austria’s interior minister, seen by The Associated Press, said imposing a ceiling on asylum-seekers “would be plainly incompatible with Austria’s obligations” under EU and international law.