‘Europe’s other debt crisis’
LONDON | By The Economist via Presseurop | It’s not just sovereign borrowing; there are too many zombie firms and overindebted households.
In Europe
The ECB makes it difficult
MADRID| By Francisco López |The European Central Bank published on Wednesday some of the criteria to evaluate financial entities’ solvency, as a previous step before it takes on competences as a single banking supervisor. Balances of 128 European banks will be tested from November to October 2014. And new rules are stricter than expected.
Europe should create Web 3.0
PARIS | By Eric Sandin at Le Monde via Presseurop | In response to NSA eavesdropping and the massive collection of user data by Internet giants, it is up to the EU to lay the foundations for the future worldwide web. Because only Europe can guarantee a “responsible, shared” environment in which individuals can manage the data that concerns them.
Greece: Ladies and Gentlemen, Please Fasten Your Seat Belts
By Nick Malkoutzis | The Agora/ MacroPolis | Earlier this year, Prime Minister Antonis Samaras held an informal dinner with some of his party’s MPs. He reportedly told them that if Greece would be able to get through a tough summer, it would “take off” in September. We are now nearing the end of October and there has been no departure for the skies. Instead, Samaras is bracing for impact.
Draghi warns of potencial crisis in European banking sector
MADRID | By Luis Arroyo | Mario Draghi dared to warn European authorities of the danger of a “capital flight” if they insist on taking confiscatory measures against all kinds of rescued banks’ creditors. If it comes to that, they may cause a crisis in the entire European banking sector.
European Commission Budget: ‘EU runs out of money’
SOFIA | By Novinar via Presseurop | “Brussels could stop European fund payments,” announces Novinar, which reports that “with a shortfall of €2.7bn, the European Commission budget is insufficient to cover its expenses.”
Europe could face its own shutdown
Jan-Werner Müller at The Guardian via Presseurop | Europeans have been stunned and dismayed by the gridlock that brought the US government to a near-default. But should the anti-EU parties make a breakthrough in the upcoming European elections, the Union would face a similar situation, writes a German political scientist.
Luxembourg elections: ‘One winner — three options’
LUXEMBURGO | By Fernand Morbach at Luxemburger Wort via Presseurop | The Christian Social People’s Party (CSV) of former prime minister Jean-Claude Juncker who resigned in July came first in general elections held on October 20, with 33.6 per cent of the vote and 23 seats (out of a total of 60) in Luxembourg’s Chamber of Deputies. This is down from 26 seats in the previous administration.
UK: Funny how some get heated up if inflation is above target, but feel it´s OK when it is below!
SAO PAULO | By Marcus Nunes | David Smith writes: “the inflation baloon’s still up in Britain”. The question now is… who ‘suffers’ more, the UK or 15 of the EU members that have inflation below 1%?
Turkey: EU finally hands out good grades
ISTANBUL | By Orhan Kemal Cengiz Radikal at via Presseurop | The recent report on progress in negotiations on Turkey’s accession to the EU finally deals sensitively with the issue and should trigger a calm debate among the Turkish public on its relationship with the Union, writes the star columnist of the influential “Radikal” daily newspaper.