According to a flash estimate released by Eurostat, the EU statistical service, Eurozone annual inflation was 0.9% in November, slightly higher than 0.7% in October. Excluding the items under the categories of energy, food, alcohol & tobacco, the November inflation rate is thought to have been 1% after 0.8% in October. Price developments in the […]Mixed news about the Eurozone economy
December 2, 2013 by Leave a Comment
According to a flash estimate released by Eurostat, the EU statistical service, Eurozone annual inflation was 0.9% in November, slightly higher than 0.7% in October. Excluding the items under the categories of energy, food, alcohol & tobacco, the November inflation rate is thought to have been 1% after 0.8% in October. Price developments in the […]ECB’s Draghi favours a cheaper euro to serve all Eurozone countries
November 29, 2013 by 2 Comments
György Matolcsy, the controversial Hungarian politician and economist, currently serving as governor of his country’s central bank, handpicked for the job by the equally controversial Prime Minister Viktor Orban, reported that the President of the European Central Bank, Mario Draghi has set the ceiling for the euro/dollar parity at 1/1.30. This is something Draghi has […]The EU accuses Russia of bullying Ukraine to change sides
November 26, 2013 by Leave a Comment
It took four days to European Union two presidents to grasp the magnitude of the Ukrainian full U-turn, with Kyiv signing the Moscow led customs union, after cashing in the advance of EU’s financial aid. The unprecedented complete turnaround of Ukraine’s foreign policy took place last Thursday and the President of the European Commission José […]The Eurogroup protects Germany and blames others
November 23, 2013 by Leave a Comment
Last week in Brussels, an unseen before procedure took place, during last Friday’s Eurogroup of the 17 euro area member states council of Finance ministers. The 17 politicians assessed the Commission‘s opinions on member states’ draft budgets, ahead of those draft budgetary exercises been discussed in national Parliaments. This is the EU’s ‘brave’ new economic […]EU sets ambitious targets for the Warsaw climate conference
November 19, 2013 by Leave a Comment
The UN climate conferences are the kind on international tribunes, where the European Union can present its opinions with pride. It’s not only that the EU has unilaterally set a target to cut down green-house emissions by 20% below 1990 levels by 2020, but also because this programme is on track to achieve targets. On […]The Commission tells Berlin it is legally obliged to help Eurozone out of stagnation
November 16, 2013 by Leave a Comment
The time has come and the European Commission gave to Germany in writing, what has been so far aired orally. In this respect, Brussels tells Berlin that it is legally obliged to abandon its egotistic austere and protective policies and help itself and the entire Eurozone enter again in a sustainable growth path. Let’s take […]A sterilised EMU may lead to a break up of Eurozone
November 12, 2013 by Leave a Comment
Ahead of the ‘The European Employment Forum’ which takes place in Brussels today and tomorrow and according to its organisers is ‘the annual networking forum for everyone involved in employment and enterprise within the EU and beyond’, there was an increased activity over the burning issue of jobs and unemployment in Europe. To this effect, […]It’s a week dedicated to all EU budgets; seven days that can make or break the Union
November 11, 2013 by Leave a Comment
All EU member states budgets including the EU’s proper one will be under scrutiny this week in Brussels. Let’s start from the Union’s own budget for 2014. Today Monday, a Conciliation Committee, made up by the 28 representatives of the member states and 28 European legislators, has to agree on EU’s budget for 2014. Earlier […]ECB offers cheaper money despite reactions from Germany
November 8, 2013 by Leave a Comment
Yesterday, the European Central Bank, in a swift move, reduced its basic interest rate to 0.25% from 0.5%. The decision was taken by the Governing Council of the bank, in its regular meeting which takes place on the first Thursday of every month. This decision has reportedly taken the capital markets by surprise, but this […]Eurozone to enter the winter…
November 4, 2013 by Leave a Comment
Euro area annual inflation and its main components (%), October 2012 and May – October 2013. On many occasions during the past few months the European Sting has concluded that the ongoing deceleration of inflation in Eurozone is a bad omen. Last time it was on Friday 1 November when Eurostat announced its flash estimate for […]This crisis cannot be confronted with statistics
October 30, 2013 by 1 Comment
Eurostat, the statistical service of the European Union, announced yesterday the launch of a new series of annual publications, entitled “Smarter, greener, more inclusive? – Indicators to support the Europe 2020 strategy”. According to the relevant Press release, “The purpose of this publication is to provide statistics to support the Europe 2020 strategy and to […]The Social Committee may accept the new ‘contractual’ Eurozone
October 29, 2013 by Leave a Comment
The European Economic and Social Committee (EESC), representing employers, workers and other interest groups, issued yesterday a Press release urging for the creation of the Banking Union and the establishment of a uniform bank resolution procedure. Obviously the leadership of the EESC, after reading the conclusions of the last EU summit of 24-25 October and […]ECB embarks on the risky trip to Eurozone banking universe
October 23, 2013 by Leave a Comment
The Single Supervisory Mechanism (SSM) of Eurozone banks has completed its cycle of approvals by all EU institutions and comes into force as from next month. After one year from now, that is as from November 2014, the European Central Bank will be responsible for the health of Eurozone’s banking system. Under the provisions of […]The Parliament paves the way for the creation of the European Banking Union
October 18, 2013 by 2 Comments
Today, 18 October, is the last day for MEPs to table their amendments with the Parliament’s Economic and Monetary Committee, in the process of formulating the legislature’s proposal for an EU mechanism to sort out troubled banks. This is the much debated bank resolution and recovery mechanism and fund. The Committee vote is planned for […]The EU pretends not knowing what happens in the Western Balkans
October 17, 2013 by Leave a Comment
It’s more than a joke, it’s a clear deception or even an imperialistic attitude of the European Union, towards the countries wanting to join it, to tell them that they pass Commissioner Štefan Füle‘s test of the “five fundamentals”. Of course this doesn’t apply to Turkey or Iceland, because both of them seem to have […]Why Europe is more competitive than the US
October 11, 2013 by 1 Comment
The commonly recited rough theory, that Eurozone economy is less competitive than the US, is not confirmed by core statistics. The European Sting has repeatedly stressed that Eurozone is by far a net exporter of sophisticated products and services, while the US suffers of a chronic and probably structural, foreign trade deficit. In this […]Parliament approves key directive regulating professional qualifications
October 10, 2013 by Leave a Comment
It might not be much, but the European Parliament’s approval of the modernisation of the Professional Qualifications Directive to promote the intra EU mobility of professionals, is a giant step forward towards more Union, at a time when some countries long for less EU, by undermining the right of citizens for free movement within the […]Parliament sets conditions on EU-China investment deal
October 7, 2013 by 1 Comment
A proposal for a resolution on the EU-China investment and market access agreement will be discussed in the October 8 plenary session of the European Parliament. A vote is scheduled to follow on the same day. The resolution, drafted by Helmut Scholz (GUE/NGL, DE), was passed by 25 votes to 2 with 3 abstentions, during […]American negotiators can’t pay for their trip to Brussels, EU-US trade agreement freezes
October 5, 2013 by Leave a Comment
Quite unexpectedly, EU Trade Commissioner Karel De Gucht announced yesterday night the cancellation of 2nd Round of Transatlantic Trade and Investment Partnership (TTIP) negotiations in Brussels, due to the US administration shutdown. His counterpart, United States Trade Representative Ambassador Michael Froman informed him that “due to the ongoing furlough, the US Administration will not be […]EU agricultural production no more a self-sufficiency anchor
October 2, 2013 by Leave a Comment
The last deal to reform the European Union’s Common Agricultural Policy (CAP) this week between the Parliament, the Commission and the Council is a final recognition, concluded that European agriculture is not considered any more as the basic supplier of food for the Union’s 500 million inhabitants. It also recognises that farmers should receive aid […]Public opinion misled by the Commission on air transport safety
October 1, 2013 by Leave a Comment
The Transport committee of the European Parliament (TRAN) blocked yesterday with 21 votes to 13 an EU Commission’s proposal to rearrange flight times for pilots and cabin crews. If the uninformed reader had only the chance to read just the Press release issued afterwards by the responsible, or rather irresponsible, Commissioner and Commission Vice President […]Bank resolutions and recapitalisations by the ESM may end up politically swayed
September 25, 2013 by Leave a Comment
Klaus Regling, the Managing Director of the European Stability Mechanism (ESM), speaking yesterday at the European Parliament, when pressed by legislators, accepted that the wealthy ESM under conditions could function as a backstop and finance jointly with other sources, euro area bank resolutions and recapitalisations. Regling did concede that he was “open to considering other […]EU Budgets: Europe hoping for Xmas gifts
September 20, 2013 by Leave a Comment
The Lithuanian Presidency of the European Union’s Council is now under pressure over the approval of EU’s 2014-2020 budget regulation, referred to as the EU’s Multi-annual Financial Framework (MFF), planned to support EU’s expenses for the next seven years amounting to €1 trillion. The problem is however that the approval of the first EU budget […]Commission challenges Council over EU 2014 budget
September 19, 2013 by Leave a Comment
Another €460 million should be added to the 2014 EU budget spending said yesterday the European Commission. This is a direct challenge to the Council’s position presented last week in the European Parliament shaping a severely cut down 2014 EU budget. The Commission asks additional funding exactly for those programmes that the Council wants to […]Auditors say EU spending delivers limited value for money but the timing of their report poses questions
September 18, 2013 by Leave a Comment
The European Court of Auditors (ECA) in a report that was published yesterday reveals that the EU spends billions to help the rural economy restructure but with poor results, delivering “only limited value for money”. EU spending on agriculture be it production and producer subsidies or supporting structural investment plans has being traditionally criticised not […]IMF’s Lagarde to Peoples of the world: You have to work more for the banks!
September 12, 2013 by Leave a Comment
Christine Lagarde, Managing Director of the International Monetary Fund, delivered a speech recently during this year’s Jackson Hole Symposium, praising the Unconventional Monetary Policies (UMP) followed by the central banks to save the world from a great depression, similar to the one of 1929. The risk was real as Lagarde noted but she didn’t […]Commission’s feeble response to financial benchmarks fraud
September 9, 2013 by 1 Comment
On Wednesday 18 September the European Commission is expected to propose a draft legislation on financial benchmarks to protect their setting from fraud and collusion. The stakes are so big that surpass the wildest imagination. For example Libor, the London market interest rate benchmark, is used as a base for interest rates settlements all over […]Lithuania vs Parliament over 2014 EU budget
September 3, 2013 by Leave a Comment
It is usual for any EU country while holding the rotating Council Presidency to boast about its achievements. Boasting becomes sometimes unbearable if the Presidency is held by a small or very small member state like Lithuania, the current holder of the presidential seat in the Council. It was exactly like that earlier today when […]New phenomena in the EU labour market
August 29, 2013 by Leave a Comment
Everybody feels that the economic crisis haunting Eurozone increases the divergence between its northern and southern segments. It’s Eurostat however, the EU statistical service, that gave solid proof to this general feeling. Eurostat writer Martin Teichgraber undertook the task to analyse the impact that this crisis has on the labour market, in a paper entitled […]ECB will be the catalyst of Eurozone’s reunification
August 28, 2013 by Leave a Comment
Today Thursday the new governor of the Bank of England, Mark Carney, is expected to confirm from Nottingham, a historic city in east Midlands, that the central bank of Britain is not to raise its basic interest rate from the currently very low level of 0.5%, “until the Labour Force Survey headline measure of the […]ECB guarantees the liquidity of the Atlantic financial volume
August 5, 2013 by Leave a Comment
There is no doubt that the European Central Bank is determined not only to continue supporting Eurozone’s real economy with liquidity at almost zero interest rate cost for as long as it needs to achieve tangible growth, but by the same token it appears ready to succeed the American Fed in keeping the western financial […]Why Eurozone can afford spending for growth
July 17, 2013 by Leave a Comment
Eurostat, the EU statistical service, confirmed once more the excellent health of Eurozone’s economy, at least as far as its international competitiveness is concerned. Low inflation and large surpluses in external trade of goods constitute a solid base for the foreign value of the single money. They also advocate in favour of further relaxation of […]The US repelled EU proposals on common rules for banks
July 16, 2013 by Leave a Comment
The European Commission and more precisely the European Commissioner Michel Barnier fights a battle in two fronts over the financial sector’s future. One internal with Germany on EU banking union and another one external with the US on common rules for banks. Understandably in both fronts he has the full backing of the Commission and […]
