Scope Ratings says Europe’s autumn energy crisis has created its share of short- and medium-term winners – including some traders, generators and integrated suppliers – and losers such as unhedged suppliers and consumers. The real benefit would be an energy-policy rethink.
European Views | The way the EU appears on the world stage, where it all too often seems weak, uncoordinated and overly moralising in its approach to world affairs. Germany’s long-time chancellor Merkel has played a key role in this. Throughout 16 years, Berlin has helped transform the EU into an ineffective paper tiger that styles itself as a superpower, yet that is frequently proving unable to deal effectively with hard geopolitical questions – from securing its borders to dealing with China. What is really needed is a new approach to EU foreign policy, especially at a time when German voters’ interest in foreign policy and EU affairs is at its lowest in years.
Switzerland, Sweden and the United States top the global innovation ranking, according to the latest edition of the Global Innovation Index study carried out by the World Intellectual Property Organization (WIPO), with the collaboration of academic institutions such as the INSEAD business school. Spain is in 30th place, at the bottom of the list of Western European countries. The leading Latin American country is Chile (53rd), followed by Mexico (55th),…
The British Embassy in Madrid has revealed that 150,000 Britons living in Spain have been issued with a TIE card since it was introduced in July last year. As Fiona Govan explains in The Olive Press: Brexit meant the Green certificates available to citizens of EU member states would no longer be issued to Brits entitled to residency in Spain. Those who had yet to apply for residency were encouraged…
Banca March : The trial against Google has begun in the Court of Luxembourg. The search engine will try to convince the EU courts to annul the €4.3 billion fine imposed by Brussels in 2018 for abuse of its dominant position for its Android operating system. It should be remembered that the European competition authorities punished Google for having forced, since 2011, mobile phone manufacturers and operators to install its…
Citizens in Germany’s capital, Berlin, voted at the weekend to approve an initiative that would require the expropriation of 240,000 homes from large owners, i.e. companies with more than 3,000 flats. The non-binding referendum on the “municipalisation of housing” resulted in 57 per cent in favour of the measure and 38 per cent against. In an attempt to give tenants back the security that their homes will remain in the low-cost segment, the Berlin city council, through the municipal companies Degewo, Howoge and Berlinovo, recently agreed to buy 14,750 flats from Vonovia and Deutsche Wohnwen.
Olaf Scholz, vice-chancellor and leader of the SPD, the German Social Democrats, won the German elections yesterday with 25.7% of the vote. He came in ahead of Armin Laschet, Merkel’s successor in the CDU, who won 24.1% of the vote. Annalena Baerbock’s Greens, with 14.8%, will be the third force, and have already shown their preference for a government with the SPD. But it is Christian Lindner’s Liberals, with 11.5%…
Nick Ottens (Atlantic Sentinel) | The continent faces a perfect storm involving accidents, depleted reserves and decreased Russian supply. Electricity prices are hitting records across Europe. In Portugal and Spain, wholesale energy prices have tripled from half a year ago to €178 per megawatt-hour. Italy is not far behind at €176. Dutch households without a fixed-price contract could end up paying €500 more this year. In the UK, prices peaked…
Michael Bradshow ( The Conversation) | The UK government has been in emergency talks with leaders from the energy industry as gas prices (and with them, electricity prices) have soared to more than four times the level they were at the same time in 2020. Concerns are growing about the security of winter gas supplies, and industries reliant on gas, such as the fertiliser industry, are curtailing production, threatening various…
Francisco Vidal (Intermoney) | For yet another day, the spotlight is on the words of ECB members. They give their views on their particular vision of the course of inflation, with the consequent impact on the markets. And the latter react by interpreting the statements in terms of the central bank’s speed in withdrawing its stimuli. On Thursday, the Financial Times reported Philip Lane had said privately that they expect…