Top Stories

European Commission

EU recovery loses steam

In Europe 15th November 2013

EU recovery loses steam

MADRID | By JP Marin Arrese | One day after the European Commission put Germany under close scrutiny, blaming its fat trade surplus of curtailing other countries’ growth, figures released on economic performance in the third quarter came as a nasty surprise. Exports had stalled in the biggest partner, bringing growth rate to 0.3% down from 0.7% three months before. Resilience in internal demand had saved it from shrinking, openly contradicting Brussels’ claims against Berlin.

Christine Lagarde IMF director

In Europe 9th August 2013

Off you go, IMF

PARIS | Calling on the expertise of the IMF helped save the euro at the height of the crisis. However, the personal involvement of the head of the ECB and the creation of specific financial tools have now made recourse to the Washington-based institution unnecessary, says economist .

european commission

In Europe 27th June 2013

The capricious European Commission

ROME | By  | While the living standards of Greeks keeps falling and the troika’s management of the crisis has been called into question, European institutions continue to look elsewhere. It is high time the European Commission was held accountable for this appalling tragedy.

No Picture

In Europe 4th June 2013

EU changes deficit deadlines approach

Eurozone countries are under an obligation to reduce their deficits to below 3% of GDP by this year. Failing could mean to be fined up to 0.2% of GDP. But the Commission seems to have eased its austerity-led policies in order to boost growth. “It may be reasonable to extend the deadline by two years and to correct the excessive deficit by 2015 at the latest,” European commissioner for economic and monetary affairs and the euro Olli Rehn has said.

kjzx

Spanish economy 20th August 2012

“Contraction and austerity combined are an extremely dangerous mix for Spain”

Morning! Today we bring you the last part of our summer series interview with Professor of Economics at Columbia University Martin Uribe. He believes that the Eurozone needs structural changes to tackle the crisis, especially in fiscal matters. The lesson we should learn from this crisis is to avoid high capital inflows into a country as happened to Spain from 2000 to 2008. – Several Nobel laureates have decried budget…

16239017

In Europe 17th August 2012

“Without a fiscal authority, Europe will always be a poorly designed system”

Professor of Economics at Columbia University Martin Uribe strongly believes that the Eurozone needs structural changes to tackle the crisis, especially in fiscal matters. For this expert in macroeconomic analysis, who has worked for many universities and institutions including the European Central Bank, the lack of tax policy at a European level is condemning the least developed countries to beg for aid. Uribe talked to The Corner summer interviews’ series from…

sjjsj

In Europe 3rd August 2012

European Commission to monitor Spain’s reform of Coastal Law

MADRID | European Commission vice-president Viviane Reding, who is also the EU’s Justice commissioner, highlighted Friday an announcement by the Spanish government that it intends to improve legal certainty for property owners along the country’s coast. Homes have been affected by the Coastal Law for several years now and buyers involved have repeatedly brought their case to Brussels, under the impression that Spanish authorities were not sufficiently active in tackling abuses. The…

lkzx

In Europe 19th July 2012

EU funds: fraud and credibility

Financial deceit within institutions whose accountability is precarious has a multiplying effect. The abuse of money immediately passes for an embedded practice, and the actual size of the affair is consequently believed to be much larger. After all, as it happens with European Union officers, taxpayers would despair for the lack of their habitual democratic recourse to make those responsible feel their anger. That is why the latest data on…

xjid

Markets 28th May 2012

Why BANKIA rescue shatters confidence in the Spanish financial system

MADRID | A few weeks ago, the Spanish government adamantly denied any hint on disbursing a single penny in banking sector support. A few days ago, it acknowledged the necessity to do just the opposite for anchoring ailing entities. In a desperate face saving attempt it discarded such a funding might lead to open aid, support being provided at a punitive 10% interest rate. But BANKIA discomfiture has led to a…