Will Brexit shatter the EU or is it still too early to predict?

Discussion between Theresa May and Jean-Claude Juncker (in the foreground, from left to right)
Date: 21/10/2016. Location: Brussels - EC/Berlaymont. © European Union , 2016 / Source: EC - Audiovisual Service / Photo: Etienne Ansotte

The president of the European Commission together with EU and German officials fear that Brexit will divide the EU after the negotiations have been concluded. Theresa May is about to trigger Article 50 of the Lisbon Treaty and begin the talks for UK’s exit once the House of Lords grants permission. In addition to the Brexit procedure, […]

Why is Grexit again in the news? Who is to pay for Eurozone’s banking problems?

Wolfgang Schäuble, the German Federal minister for Finance, addressing the Plenary of the Bundestag. City: Berlin. Country: Deutschland. Date taken: 17.02.2016. Photographer: Achim Melde. German Parliament work.

Grexit, Greece’s exit from the euro area, is back in the news – for the wrong reasons. During this past week, the country’s creditors, the European Commission, the European Central Bank, the European Stability Mechanism and the International Monetary Fund, finally agreed amongst themselves to set even tougher conditions in order to continue refinancing the […]

Brexiteer May gets lip-service from Trump and Turkish promises from Erdogan

Washington D.C., 27 January 2017. The British Prime Minister Teresa May and the US President Donald Trump held a joint press conference after their meeting at the White House. (Foto: UK Government work).

The rush announcement of a fabulous trade deal with the US, which ,Teresa May, the British Prime Minister sought last week in Washington D.C., didn’t materialize. As for the much advertised ‘special relationship’ between the US and Britain, it will bear no economic meaning whatsoever, at least in the foreseeable future. The governing Brexiteers in […]

“We need to use the momentum globally to ensure that corporations pay their fare share of taxation”, EU Commissioner Valdis Dombrovskis outlines from the World Economic Forum 2017.

World Economic Forum, Davos, 17-20/01/2017
Valdis Dombrovskis and Winnie Byanyima, Executive Director of Oxfam International, attend a session named 'Taxation without borders: a fair share from multinationals'.
Date: 19/01/2017. Location: Davos-Congress Center,Davos
© European Union , 2017 / Source: EC - Audiovisual Service / Photo: Johanna Leguerre

At the third day of the World Economic Forum 2017 in Davos, the session “Taxation without Borders: A Fair Share from Multinationals” took place where tax-base erosion and profit shifting policies were discussed in view of the Panama Papers and the fact that countries lose tones of money when multinationals implement such strategies. Emerging countries […]

“China will strive to enhance the performance of economic growth”, President Xi highlights from the World Economic Forum 2017 in Davos

President Xi Jinping at World Economic Forum 2017 in Davos. Copyright by World Economic Forum / Destination: Davos Klosters.

The first day of the World Economic Forum (WEF) began with the opening plenary with Xi Jinping yesterday, President of the People’s Republic of China, monopolizing the interest of the global economic status quo convening these days at the Swiss Alps. This was the first time ever a Chinese President accepts the Davos invite and naturally all the […]

Germany and Europe prepare for Trump’s America

European Council - October 2016. The EU Heads of State or Government met on 20 October 2016 in Brussels. The leaders discussed relations with Russia and the situation in Syria. From left to right: Lars Lokke Rasmussen, Danish Prime Minister, Angela Merkel, German Federal Chancellor, Xavier Bettel, Luxembourg Prime Minister. In the background Teresa May, Prime Minister of Britain is seen. Shoot location: Brussels – Belgium. Shoot date: 20/10/2016. Copyright: European Union.

Germany, and more generally the EU, is now preparing in earnest to confront the groundbreaking changes in their relations with Trump’s America. Last week, both the German Chancellor Angela Merkel and her Federal minister for Finance Wolfgang Schauble, made direct and indirect statements about the policies now needed for Germany and the European Union. On […]

Will France vote for more or less Europe in the next presidential elections?

Meeting on the International Day for the Eradication of Poverty - From humiliation and exclusion to participation : eradicate all forms of poverty
Copyright: © European Union 2016 -  Source : EP.
Location: Brussels, Belgium
Date: 19/10/2016.

Meeting on the International Day for the Eradication of Poverty – From humiliation and exclusion to participation : eradicate all forms of poverty Copyright: © European Union 2016 Source : EP. Location: Brussels, Belgium. Date: 19/10/2016. Photo: Alexis Haulot. The citizens of three of the strongest European countries, having in their minds the recent terrorist […]

Italian banks: It’s Rome’s turn to confront Berlin’s aggressiveness

Rome, Chigi Palace, Prime Minister’s residence. PM Paolo Gentiloni delivered the traditional end of year Press conference on 29/12/2016. (Italian government work, only some rights reserved. Foto: T. Barchielli).

Italy, after Greece, is now the next target of the archetypical Teutonic aggressiveness, aimed this time at making the life difficult for Paolo Gentiloni the new Prime Minister. The problems Rome has with the country’s banking system are being exaggerated and used by Berlin to either pave the road leading outside the euro area or […]

Deutsche Bank chased away from US, threatened with more fines

Davos, Switzerland, 20/1/2016 - Christine Lagarde, Managing Director, International Monetary Fund (IMF) and John Cryan, Chief Executive Officer, Deutsche Bank, captured during the session 'The Transformation of Finance' at the Annual Meeting 2016 of the World Economic Forum in Davos, Switzerland, January 20, 2016. IMF has labeled Deutsche Bank as a major risk to the global financial system. (WORLD ECONOMIC FORUM/swiss-image.ch/Photo Remy Steinegger. No changes made. Only some rights reserved).

The US Department of Justice settled its claims against Deutsche Bank, the biggest German lender, for packaging and selling toxic mortgage securities to uninformed customers prior to the 2008-2010 financial crisis. Initially, the Justice Department had asked for $14 billion, but it seems it settled for a fine of $7.2bn. However, this is not the […]

ECB: The bastion of effective and equitable Europeanism keeps up quantitative easing

Vítor Constâncio, Vice-President of the ECB, Mario Draghi President of ECB and Christine Graeff, Director General Communications (from left to right). Draghi explained the Governing Council’s latest monetary policy decisions and answered questions from journalists at a press conference on 8 December 2016 in Frankfurt am Main. (ECB Audiovisual Services).

Last Thursday, 12 December, Mario Draghi, President of the European Central Bank, was forced to compromise with the Germans during the Governing Council’s regular meeting. He accepted to reduce the monthly injections of cash into the economy (through asset purchases of mainly government bonds) from €80 billion to €60bn, along the lines of the nonstandard […]