Two EU Commissioners fire at will against the US

Viviane Reding, Vice-President of the EC in charge of Justice, Fundamental Rights and Citizenship (on left, speaking in the rostrum), went to Heidelberg where she participated in a debate about the future of Europe with Winfried Kretschmann, Minister President of Baden-Württemberg (on the right). Around 400 citizens were present to discuss about democracy in Europe.

Viviane Reding, Vice-President of the EC in charge of Justice, Fundamental Rights and Citizenship (on the left, speaking in the rostrum), went to Heidelberg where she participated in a debate about the future of Europe with Winfried Kretschmann, Minister President of Baden-Württemberg (on the right). Around 400 citizens were present to discuss about democracy in Europe.

From both sides of the Atlantic Ocean two European Commissioners, Michel Barnier from Washington and Vivian Reding from Heidelberg, while addressing yesterday quite different audiences, sent out converging messages criticising the US. They both expressed novel views vis-à-vis EU–US relations in general, which can be interpreted as hardening of Commission’s position in reference to on-going Euro-American talks covering very important policy issues.

Barnier insisted strongly once more that a chapter with common EU-US financial regulations must be included in the Transatlantic Trade and Investment Partnership (TTIP), the ground-breaking free trade and investment package the two sides are currently negotiating. The EU Commissioner brought up again this issue on Tuesday, despite the abrupt denial of U.S. Treasury Secretary, Jacob Lew, to even discuss Barnier’s proposal during their meeting on Monday.

Several thousand miles eastwards Vivian Reding, Vice-President of the European Commission, responsible for Justice, engaging in a Citizens’ dialogue in Heidelberg suddenly stated that the International Monetary Fund should be ousted from Europe. It must be mentioned that the IMF participates in a ‘troika’ together with the European Commission and the European Central Bank in financing and auditing the three Eurozone countries following austerity programmes that is Greece, Portugal and Ireland. Given that the IMF is extensively echoing the views of the US government on world financial issues, this Reding statement can be interpreted as critical to US.

Financial regulation

Let’s return to Washington where Michel Barnier delivered a speech in the Transatlantic Policy Network on Tuesday entitled “Time for a new Transatlantic Partnership”. Barnier, while discussing the inclusion of a financial regulation chapter in the EU-US free trade agreement, was much less diplomatic than on Monday speaking at the Brookings Institution. The Commissioner stressed that, “I arrived Sunday night in Washington. Since then, I’ve heard suggestions that Europe’s real reason for wanting financial regulation in TTIP is to delay and/or weaken implementation of G20 commitments. Let me be very clear: nothing could be further from the truth… Common standards on trade, intellectual property rights, public procurement and financial regulation will make it possible to create a true transatlantic market place”.

In short Barnier told his American audience that a true partnership must contain also a chapter with common financial regulation, otherwise it will remain incomplete. If this position is adopted also by the Commission as an EU institutional body, the negotiations on TTIP will run into problems. The EU Commissioner though had other equally important financial issues to raise. For the first time an EU dignitary told the Americans quite openly and directly that they discriminate against non-US banks. To this effect he stressed that the “Draft US rules on Foreign Banking Organisations should be revised. They do not recognise non-US prudential rules. And they discriminate against non-US banks”.

US guarantees

Barnier however had more news to air in his second Washington speech this week. This time it was a much more sensitive issue of wider interest. It was a more advanced EU position in relation to the bugging of the EU mission’s building in the US and the monitoring of hundreds of millions of telephone and internet communications in Europe. Barnier after telling his US audience that “America must give the EU explanations on the surveillance schemes in place” he rushed to add that “the US should also give guarantees on data protection. As Chancellor Merkel called for yesterday, Europeans are giving themselves proper safeguards”.

Until yesterday the Europeans were officially asking the Americans only for ‘explanations’ over the surveillance issue. Now Barnier is asking for “guarantees on data protection”. This is a quite different approach because those guarantees have to be agreed between the two sides. There is no other way to struck an agreement than negotiations. Obviously those new negotiations between the EU and the US will be conducted in parallel with the other ones about the TTIP. Who is to say that there won’t be an interconnection between the two lines of talks?

Reding asks IMF to go

Coming back to Europe and to Vivian Reding, in Heidelberg she couldn’t be clearer while commenting on IMF’s position in Europe. She said “Getting the IMF on board in recent years was an emergency solution. In future, we Europeans have to be able to resolve our problems on our own. People have the feeling that the Troika is working behind closed doors, not subject to any form of control, and that the IMF technocrats are miles away from any form of democratic control. The Commission is the economic Government of Europe. Together with the European Central Bank and the Member States, we can make sure that, in return for solidarity, countries hit hardest by the crisis implement reform. We do not need the Troika for this. Its time is over”.

Obviously according to Reding the only part of the troika which lacks democratic legitimisation is the IMF, “whose technocrats are miles away from any form of democratic control”. Understandably Christine Lagarde, the general manager of IMF and ex-minister of Finance of France is included.

There is no doubt that the two Commissioners didn’t plan their interventions to coincide in confronting the US on one or two very important, delicate and of wider interest issues. Still the conclusion is that two high-ranking EU Commissioners concentrated simultaneously their fire on US targets. It remains to be seen if the Commission as a body and its President Manuel Barroso will follow Reding and Barnier in their very critical stance against the US.

the sting Milestones

Featured Stings

Can we feed everyone without unleashing disaster? Read on

These campaigners want to give a quarter of the UK back to nature

How to build a more resilient and inclusive global system

Stopping antimicrobial resistance would cost just USD 2 per person a year

Top UN rights official urges transparent probe into Khashoggi disappearance

Neither side stands to benefit in US-China trade spat, UN says

Questions and Answers on issues about the digital copyright directive

EP President calls for emergency assistance to migrants stranded on Open Arms boat

Women’s rights face global pushback from conservativism, fundamentalism – UN experts warn

Team Europe: €34 billion disbursed so far to tackle COVID-19 in partner countries

Here’s why China’s trade deal with Mauritius matters

Data marketplaces can transform economies. Here’s how

Eurozone: Even good statistics mean deeper recession

Primary Care: a way to provide Palliative Care in Universal Health Coverage

To solve the climate crisis, we need an investment revolution

Creating shared value: an opportunity and challenge for entrepreneurship

Bulgaria: MEPs call for EU values to be fully and unconditionally respected

JADE President opens JADE Spring Meeting 2014

Being blinded by labels stops social change. Art helps us see a better future

As threats to IoT devices evolve, can security keep up?

Innovation and entrepreneurship can cut waste and deliver the circular economy

EU Budget 2020 conciliation talks suspended

Global immunization is having its annual check-up. What can we learn?

UN cooperation with League of Arab States ‘pivotal’, UN chief tells Security Council

EU Budget 2019 to focus on young people

Three experts on why eradicating plastic pollution will help achieve gender equality

Berlin wants to break South’s politico-economic standing

This is where teachers are most (and least) respected

Understanding the gender gap in the Global South

European Parliament approves new copyright rules for the internet

Chile ups foreign bribery enforcement but flawed case resolutions are insufficient to ensure transparency and accountability

India’s economy is an ‘elephant that is starting to run’, according to the IMF

What will Germany look like after the next election?

Half the world’s population is still offline. Here’s why that matters

As G7 calls time on coal, have you checked your supply chain?

Campaign kicks off with High-level Event on #FairInternships

Could 2021 be a turning point for forests and climate change?

New UN Syria envoy pledges to work ‘impartially and diligently’ towards peace

The sustainable fashion revolution is well underway. These 5 trends prove it

Arrest of three Libyans wanted for grave crimes ‘would send strong and necessary message’ to victims, urges top Prosecutor

Rule of Law mechanism applies without further delay as of 1 January, MEPs stress

Indonesia has a plan to deal with its plastic waste problem

Rise in violent conflict shows prevention ‘more necessary than ever’: UN chief

Yemen: ‘A great first step’ UN declares as aid team accesses grain silo which can feed millions

Using CO2 as an industrial feedstock could change the world. Here’s how

Protecting European consumers: toys and cars on top of the list of dangerous products

MEPs call for the protection of fundamental values in the EU and worldwide

The West and Russia accomplished the dismembering and the economic destruction of Ukraine

WHO chief underscores need to address climate change following visit to Bahamas

After the George Floyd protests, what next for racial justice in the US?

80,000 youngsters at risk in DRC after forcible expulsion from Angola: UNICEF

Don’t take African generosity towards refugees for granted, says UN refugee chief

Humanitarian action: New outlook for EU’s global aid delivery challenged by COVID-19

Food choices today, impact health of both ‘people and planet’ tomorrow

From DIY editing to matchmaking by DNA: how human genomics is changing society

How global tech can drive local healthcare innovation in China

Here’s why the tech sector could be the next target for Chinese investment in Africa

Is South Korea set to lose from its FTA with the EU?

Artificial Intelligence raises ethical, policy challenges – UN expert

The future of manufacturing is smart, secure and stable

European Semester Autumn Package: Bolstering inclusive and sustainable growth

Can the world take the risk of a new financial armageddon so that IMF doesn’t lose face towards Tsipras?

GSMA Mobile 360 – Africa: Rise of the Digital Citizen, Kigali 16 – 18 July 2019, in association with The European Sting

Universal Health Coverage will ‘drive progress’ on 2030 Development Agenda

More Stings?

Speak your Mind Here

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: