Britain Has Forgotten to Ask Europe’s Opinion of a Brexit Transition
Nick Ottens via Atlantic Sentinel |A transition deal might be good for Britain, but there are many reasons to doubt the EU would agree to it.
EU
Spain Promises Not to Hold Brexit Deal Hostage to Gibraltar
Nick Ottens via Atlantic Sentinel | Spain could use Britain’s exit from the EU to bargain for a new settlement for Gibraltar but vows not to.
EU: Political Agreement On EU-Japan Trade Deal Sealed
Japan’s Prime Minister Shinzo Abe signed on Thursday a political agreement on the EU-Japan trade deal, which would be likely completed within months,expectedly by January. Officials said it was not clear at this stage how the EU-Japan deal would be ratified in Europe. Full national ratification gives every national parliament and some regional ones a veto.
Does Monte dei Paschi bailout comply with EU regulations?
The German authorities have come out en masse to criticise the public bailout the Italian government is planning for Monte dei Paschi. For many observers, this decision implies “direct public aid” which goes against the European directive on banking solutions and restructurings.
EU Challenges in Post-Brexit Period
John Bruton | There is no denying that the United Kingdom’s Brexit decision is a blow to the EU. Now, there is a real risk that the remaining 27 EU members will start pursuing national interests at the expense of the common EU interest. If they do, everyone will lose.
Looming Banking Crisis in Italy Casts Another Shadow on Eurozone
Peter Lundgreen via Caixin| What should be deeply worrying about the growing banking crisis in Italy is the origin of the non-performing loans. One significant sector is retail and wholesale, meaning it’s a widespread problem. A severe banking crisis is a shock for any economy and will, in many cases, hamper economic growth. This is the risk that Italy and the Eurozone are facing.
My fault, my fault, my most grievous falt… but not that much
In an internal report, the IMF has confessed to errors linked to the bailouts in which it participated during the euro crisis, according to what Ambrose Evans-Prichard tells us. Just what the euro needed: explicit recognition, in black and white, that nothing could be done about the “infamy of competitive devaluation.”
Italian Banks: Definite source of contagion
Italy is threatening us with another time bomb. The country’s banks have 360 billion euros of doubtful loans and the EU (that is to say the sinister Eurogroup), as intelligent as ever, is pressuring for the bail-in rules, to which ultraliberal & co are so addicted, to be implemented by the book.
Perseverare Diabolicum
Last week the Council decided that Spain and Portugal’s recent efforts to reduce deficit were not enough. This lead to the two countries being fined, the first time this happens since the inception of the euro.
European Union: A Heart With Tachycardia
The Belgian authorities understand that the risk of Brussels losing its capital status in Europe is very real in the wake of the terrorist attacks and the security deficiencies these revealed. Such a mess is incompatible with being the headquarters for the European Union and NATO.