It was not surprising that Herman Van Rompuy’s first UK speech as President of the European Council dealt primarily with the EU response to the sovereign debt crisis in the Eurozone and its chances of success.
The European Union is continuously forged by the pressure of events. Far more than individual member states the EU is in a state of permanent flux as it changes and adapts to meet new challenges.
Newspaper headlines in the UK press over the past few days have lambasted the latest round of bank stress tests. Why? The general sentiment seemed – at least to me – to be that the last tests were not suitably tough enough, and these won’t be either. Is that really the point of them?
Gasoline and fuel prices have reached their highest level since the summer of 2007 when the oil price had peaked at $ 147/barrel. American consumers suffer more from the hike than Europeans, who are shielded by the revaluation of the Euro and high excise taxes softening the repercussions on fuel/gasoline prices. But US drivers having… » read more
By Manana Kochladze, Regional Coordinator for the Caucasus at CEE Bankwatch Network. The functioning of the European Neighborhood Policy (ENP) vis-à-vis the Southern partners has received considerable international scrutiny over the past weeks, with revolutions in North Africa in the spotlight. Some of the criticism aimed at ENP effectiveness in the South seems to imply… » read more
Los jefes de Gobierno europeos disponen de menos de tres semanas para alcanzar un acuerdo global que estabilice la eurozona, ponga coto definitivo a los ataques que la deuda soberana de países miembros vienen sufriendo y, con ello, garanticen la supervivencia de nuestra moneda común, el euro. La cumbre primaveral europea de los próximos 24… » read more
For Greece, it all started in late 2009. One bright day around mid-November, the now ruling Socialist government of G. Papandreou decided to take Greece out of the closet and reveal the true size of Greece’s deficit to the world. The funny thing is, back then no one was really shocked. “Greek statistics”, the constant… » read more
The retiring President of the German Central Bank, Axel Weber, has most recently warned German citizens that the recent and still ongoing German “boom” will be followed by meagre years with the Gross National Product growing by a mere one percent annually, leaving very little room for wage increases.
The sovereign debt crises in Greece and Ireland and the mounting economic trouble facing Portugal, Spain and Italy, have long been a cause for alarm in European capitals. Many fear that one or several of the so-called PIIGS countries may be forced to leave the euro, which could exacerbate the pressure on the euro itself… » read more
A piece about the euro crisis published early in December in the New York Times pointed out that “Portugal shares the high wages and prices of richer northern European neighbors, but not their competitiveness”.
EPP leaders are doing their bit to help elect Fine Gael! Last week, I moaned a bit about European Commission President Jose Manuel Barroso treating Fine Gael leader Enda Kenny to a photo opportunity in Brussels. I wondered if it was a bit paranoid to think that Barroso was heping his EPP buddy out by… » read more
As mentioned in my previous post (The Innovation Union Will Require Public And Private Money), I had the role of Moderator this week at an event about Venture Capital held in Brussels by Eureka. The overall aim was to help bring together some members of the Eureka network, EU policy makers and some involved in… » read more
In a recent article in the New York Times, Nobel prizewinner Paul Krugman gave us a very exciting and comprehensive explanation of how to overcome the Euro Crisis. He explained why Nevada is different from Ireland in the context of economic and monetary crisis. Surprisingly, the answer is simple: Nevada is part of a solid […]