A flawed Berlin-dictated Euro-governance
MADRID | Germany is taking advantage of other euro zone partner’s feebleness to impose its credo. It aims to firmly anchor the fiscal compact initiative it has so forcefully battled for.
In Europe
Draghi’s inconceivable cynicism
MADRID | European Central Bank governor Mario Draghi may retain more power than presidents and Economy ministers of the euro area country members, but does he has the same insight? Not at all. The entire EU is condemned to recession.
Enough austerity, says Vice-President of the EU Parliament Gianni Pittella
The Member States discussed over the text on the banking union to be adopted by the Council of Finance Ministers on December 4th. It’s an issue that the Vice-President of the Parliament, Gianni Pittella, has followed closely. In an interview on the eve of the Commission’s vote, he shares his views with Presseurop.
Are we there yet with the Banking Union? The answer is Nein!
MADRID | Germany has made clear to its partners they must lose all hope about increasing financial solidarity in a foreseeable future. Eurobonds and funds to prevent external shocks are to be shelved for the time being.
Separatism is dragging Europe back to the Middle Ages
Bulgarian anthropologist Ivaylo Dichev wonders: How is it that Western Europe is succumbing in its turn to the forces of separatism and disintegration that were at work in Eastern Europe in the 1990s? Need we search for the reason in the irresponsible policy of regionalism advocated by the EU?
More Europeans at risk of poverty since the economic crisis began in 2008
In 2011, 24% of the European Union population were at risk of poverty or social exclusion, corresponding to around 120 million people.
UK’s most influential newspapers won’t let Leveson tame British journalism
Lord Justice Leveson’s much-anticipated report into British press standards has been published and provided a damning indictment of media ethics. As a result of the scandal, which erupted over illegal interception of telephone calls, a host of journalists face criminal charges.
Cameron’s stubbornness in Brussels will be expensive for the UK
Britain wants the budget frozen at its 2011 level. But if the talks collapse, the 2013 budget will simply be rolled over to 2014 but with inflation added. The budget would end up far larger than 2011, says John Springford, research fellow at the Centre for European Reform.
The Banking Union risks melting down
EU has once and again proved it can only curb its dwarfing tendency when confronted to emergency situations. Let’s hope the row over the Banking Union governance is settled well before the next one.
Greece deserves better
Constantly struggling to keep up with the austerity imposed by the Troika, Greece has managed to cut public spending much more efficiently than it’s acknowledged. Economic recovery, though, is still nowhere to be seen. The IMF is right to rethink the current policies before it is too late.