BRUSSELS | By Jacobo de Regoyos | The previous five years of Jean-Claude Juncker’s reign were suddenly thrown into flux following the publication of hundreds of secret documents regarding agreements between the Grand Duchy of Luxemburg-during his premiership- and over 340 multinationals. In essence, this amounted to the facilitation of tailor-made fiscal schemes that allow the payment of a corporate tax close to 1% instead of the stipulated 29%.
BRUSSELS | By Jacobo de Regoyos | Europe’s 28 have unanimously requested at their recent summit to the Commission to prepare new economic sanctions against Russia, which will be triggered if the tension in Eastern Ukraine is not reduced. “Further significant steps,” is written on the statement. But nobody really knows how far can go the difficult consensus knitting machine that the European Union has become, divided between the dread to Russia felt by Eastern countries and the economic interests that grip the continental West. (Note from the editor: The cartoon above was published in Chinese official newspaper China Daily).
BRUSSELS | By Jacobo de Regoyos | After Mr Poroshenko’s victory in Ukraine elections, expectations have risen to end the profound civil unrest. And many citizens are “identifying the EU with governance quality,” former head of the Spanish diplomacy (2002-04) and MEP Ana Palacio pointed out. She just came back from Kieve, where she was part of an international poll observers’ mission together the former US Secretary of State Madeleine Allbright.
BRUSSELS | By Jacobo de Regoyos | The euro zone’s GDP is to grow by 1.2% in 2014 and by 1.7% in 2015, the European Commission forecasts, while the whole of the EU will do by 1.6% and 2%, respectively. Even if Brussels rather thinks recovery is firmly rooted and it must protect it from gloomy predictions, the truth is that last data are showing an economy that is not really taking-off.
BRUSSELS | By Jacobo de Regoyos | Both financial analysts and polls forecast an ascent of the extreme right vote in the next European elections. The crisis and the discredit of traditional politics have been the breeding ground for these parties, which may earn one out of four seats in May due to the increasing anti-European feeling in the population.
BRUSSELS | By Jacobo de Regoyos | The consortium responsible for the Panama Canal expansion, led by Spanish company Sacyr, and the Panama Canal Authority (PCA) agreed on negotiating a new framework until next February 1 in order to achieve a definitive solution to the economic problems of the project and ensure its conclusion. EC Industry Commissioner and Vice-President is doing everything he can to make both parties come to terms. Although everyone is avoiding the word “mediation” not to interfere with the arbitration process set by contract, Antonio Tajani does want to mediate. However, at the time of this interview with The Corner he has not met with any person in charge of the Latin American country yet. The enthusiasm he showed offering his help has not been corresponded across the Atlantic so far.