Articles by Alexandre Mato
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BRUSSELS | March 5, 2015 | By Alexandre Mato | When presenting its annual report, ‘Going for growth’ in Brussels, the Paris-based institution raised some doubts about the ongoing recovery in Europe. Structural, long-term unemployment and low productivity in some Member States are becoming the main economic issues of concern, with neither investment nor fiscal adjustments seen as the antidote.
BRUSSELS | By Alexandre Mato | The leader of the European Commission, Jean Claude Juncker, offered a friendly welcome to the Greek Prime Minister at the Commission entrance on Wednesday. There were no speeches, nor questions from journalists. After posing in front of the cameras, Juncker took Tsipras’ hand, the two leaving the photo-call as ‘lovers’. And some hours later, in a not that surprising move, Draghi banned the use of the Greek debt as collateral for the European Central Bank’s. The euro continued falling versus the U.S. dollar after the news: it hit $1.1304 — close to its 11-year low — before stabilizing at $1.1354 around 0540 GMT.
STRASBOURG | By Alexandre Mato | After adopting the single currency on 1 January 2015, the transition period of dual circulation has finished for Lithuania, the country thus becoming the 19th euro area member. Vitas Vasiliauskas, the Governor of The Bank of Lithuania, spoke to The Corner in an exclusive interview before the ECB’s crucial meeting on 22 January, when QE could be launched.
BRUSSELS | By Alexandre Mato | Having failed to secure sufficient funding from Member States at the last EU Summit, this could be the first real economic victory in the months since the new Commission was formed. Flexibility is the new buzzword in Brussels, with calls growing for a “smarter application of the Stability and Growth Pact, Commissioner Moscovici announced.
BRUSSELS | By Alexandre Mato | Just 15 people will supervise the restructuring and liquidation of financial institutions from the beginning of 2015. The Single Resolution Board (SRB) will be composed of around 50 staff for this important task when it undertakes the remit in the spring.
BRUSSELS | By Alexandre Mato | Last year, the EU spent €275 billion on Research & Development, nearly 2% of its GDP. This is undoubtedly a huge amount of money, but not enough to compete with the United States, South Korea or Japan. Furthermore, a brief glance at the main tech and computer companies shows that the European horizon looks somewhat bleak.
BRUSSELS | By Alexandre Mato | The head of the ECB’s financial watchdog, Daniele Nouy, asserted her belief before EU legislators that entities will arise stronger in the near future. Moreover, on the eve of the Single Supervisory Mechanism taking control of financial supervision, the French official expects that most of the capital shortfall will be filled by an influx of fresh private money.
BRUSSELS | By Alexandre Mato | The outcome of the stress tests led by the ECB and EBA showed that there are important weaknesses in the Italian and Greek financial sectors. 7 out of the 13 institutions that had to raise capital come from both countries. Perhaps, the era of restructuring are not yet behind us and the sector needs still more integration.
BRUSSELS | By Alexandre Mato | The EU hopes to set up a new policy framework targeting the reduction of greenhouse gas emissions by improving renewable energy by 2030. The continent´s energy efficiency would be improved with utilities companies and operators operating under the auspices of the directive. It could be a crucial step, designed to save €100bn annually for consumers –most of them households.