Alexandre Mato (Brussels) | Protectionism and government interference has buried the corporate operation of the year. Fiat Chrysler withdrew its 33 billion euro offer to merge with Renault Nissan, based on a car which had barely begun its race to third position in the car making world.
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Alexandre Mato (Brussels) | At a time when in the US the young Congress woman Alexandria Ocasio-Cortez supports a green New Deal as “an umbrella for a combination of policies and programmes which moves America away from fossil fuels and causes the country to slow the climate crisis”, in the words of Varshini Prakash, co-founder of the Sunrise Movement, an organisation driving this economic policy, the EU is taking firm steps in the ecological transition.
Alexandre Mato (Brussels) | The new EU strategy against climate change seeks to reduce CO2 emissions by 40% before 2030, at the same time as modernising the continent´s economy and creating thousands of jobs.
Alexandre Mato (Bruselas) | Brussels recently announced the creation of the Innovation Funds with 10 billion euros to invest up until 2030 in green technologies to support the European energy transition.
Alexandre Mato | Rome and Brussels are engaged in a permanent dispute over the 2019 budgets, exacerbated by the lies of the populist Italian coalition. The Commission leaders counterattack with the data in hand. Between 2014 and 2020 Italy will receive almos€43 Bn in European structural and investment funds.
There are repeated calls for more consolidation in the European banking sector. The Bank of France has it clear: strength comes from the European banks merging with their neighbours on the continent.
Brussels is not concerned about the Spanish banks, even despite the problems of a systemic lender like Popular, in the process of being sold. The Spanish banks have shown that they have done their homework and restructured their balance sheets since receiving a European bail-out in 2012.
The country which tried to invade England in 1588 may become its best ally. After the 28 European partners held their Summit in Malta at the beginning of February, this was the Bloomberg headline regarding the relations between Madrid and London during the Brexit negotiations. But the question of Gibraltar remains a thorny one.
On Thursday, ex-President of the ECB, Jean Claude Trichet warned that the political and economic authorities would have little room to manoeuvre in the face of a new crisis after the central banks exhaust their QE.
The euro’s fourth biggest economy will not be the protagonist in long economic debates in 2017. Spain’s deficit and its domestic politics are no longer a concern for Brussels, now focused on the Brexit negotiations and worried about the complicated elections cycle in various countries.