Dániel Stemler | In recent years we have seen countless proposals for projects to deliver natural gas to Europe and ease the European Union’s dependence on Russian gas. And the LNG revolution has put another significant element on the table for European leaders.
D-Day for the United Kingdom has arrived. Theresa May will trigger Article 50, starting the divorce from the European Union. Against this backdrop, the PM is facing the threat of a second separation on the domestic front, namely from Scotland, which is not resigned to leaving the EU.
The certainty that we are on the threshold of a phase of consistent interest rate rises – the Fed could implement two or three further hikes this year – is spurring the European banks to endow themselves with liquidity from the ECB, at low prices.
Recently there’s again been talk of a two-speed Europe. During the mini-summit two weeks ago, Merkel, Hollande, Italy, Rajoy, gave the green light to this latest spin. The Spanish PM has said the country would be at the nucleus of this.
Nick Malkoutzis via Macropolis | When Alexis Tsipras visited New York last year to speak at the UN Assembly, he held a meeting with some heavyweights of the international investment community. The Greek PM was reportedly advised that if he wanted to build trust in Greece as an attractive investment destination, he should shift focus from his main objective of debt relief towards ensuring Greece’s participation in the ECB’s QE programme.
All European Union members except the UK are meeting today in Rome to celebrate the 60th anniversary of the so considered seed of their club: The treaty of Rome. An event with a bittersweet taste however since the participants will start designing a common strategy on Brexit, the first exit of a member state.
Aena has said that the airlines have increased their seating capacity in planes heading for Spanish airports this summer to 204,7 million, a rise of 8.7% from a year ago.
The Eurozone is showing positive signs of growth and inflation. But the risk premium levels of the peripheral countries are still very high compared with those at the start of this year. In the short-term, they will move to the political beat, particularly any news on the French election.
French elections will likely serve as a way to take the populism temperature, as well as being the next step towards de-globalisation. As the Dutch general elections showed, the populist drive may prove to be not as strong as anticipated by the polls. But most of the media is presenting the French elections in this way. Furthermore, it has to be considered the fact that the pollsters underestimated the force of populism last year in the UK.
It’s not easy to find a dyed-in-the-wool Eurosceptic in Spain. There’s a simple explanation for that: since joining the European Union in 1986, the country has benefitted substantially and tangibly from bloc funding.