A backbencher Tory MP threatens both EU and UK with a no-deal Brexit

Last Thursday’s latest vote in the British Parliament, the Commons, revealed the real forces operating in relation to the country’s Gordian Knot, Brexit. Conservative Prime Minister Theresa May’s newest proposal for a kind of a soft Brexit deal, under the name of ‘Plan B’ was rejected last Thursday in Parliament by 303 to 258 votes. […]

After globalization what? Europe’s long, straining shake-up post Davos wreckage

It’s an established fact by now that the Eurozone economy is slowing down. The International Monetary Fund cuts down the relevant growth estimate for this year to 1.6% and 1.7% for 2020. This is far below the robust 2.4% of 2017. The German economy, the largest and the more competitive country of the club, is […]

What next for Europe? Three (completely) different Davos views

This article is brought to you thanks to the collaboration of The European Sting with the World Economic Forum. Author: Briony Harris, Formative Content Three political leaders have taken centre stage at the Congress Hall on the third day of the World Economic Forum’s Annual Meeting in Davos. Each of them outlined their vision for the future of the […]

Brexit: Is there anybody supporting a non-violent separation?

Like Christopher Clark’s ‘Sleepwalkers’, Britain alone on the one side and the European Union led by Germany and France on the other are walking apart, without a deal to jointly settle their future relations. One and a half years have elapsed since the 23 June 2016 referendum, with endless talks and self-complacency. Still, neither side […]

The European Sting’s 2018 in most critical review

“This is the EU & the world in 2018 as we stung it and you read the most”, The Sting’s Team addresses its fondest 2019 wishes to our most powerful reader, You. January Trump reshapes the Middle East at the expense of Europe Will the end of QE come along with ECB’s inflation target? Hungary and Ireland […]

Britain in chaos: May stays as Tory leader and PM but none can defuse the Brexit time bomb

Yesterday night the embattled British Prime Minister and President of the Conservative Party, Theresa May, won an intraparty no confidence vote. This was a Tory party internal procedure, triggered by members of her own parliamentary group. In the final result 200 Conservative MPs voted for May and 117 against her. In this way, she secures […]

The ‘yellow vests’ undermined Macron in France and the EU

Paris was a blockaded city this weekend. The government was forced to close down all the main tourist sites in the French capital. The Eiffel Tower, the Opera of Paris, the Louvre museum and tens of other sites which may attract the fury of the ‘yellow vest’ movement are closed and heavily guarded. Galerie Lafayette […]

Italy’s revised budget remains roughly unchanged waiting for Europe’s fury

The Italian government concluded its revised budget a few hours ago and as expected the Italian budget plan remained the same with small amendments, such as plans to sell off some government real estate, but still is not respecting the EU fiscal rules. The latter is most likely not going to be left unanswered by the […]

Italy’s populist government appears determined to drive EU economy and markets into recession

The Italian budget plan has recently created turbulences and serious concerns in the EU economy as the third largest economy of the bloc cuts growth forecasts and increases spending. The European Commission together with the International Monetary Fund (IMF) have urged the Italian government to restate its budget and comply with the EU fiscal rules […]

Parallel downfalls of Merkel and Deutsche Bank threaten Germany and Europe

Only a few years ago, Germany’s stars of pride and accomplishment were personified and embodied in the unparalleled triumphant stories and achievements of Chancellor Angela Merkel and Deutsche Bank. They both had amazed Europe and the world, with their successes in the politico-economic universe. Until the legislative elections of September 2017, and probably sometime earlier […]

Who can unlock the stalled Brexit negotiations? UK Premier sticks to her proposal

The Brexit cataclysm comes to its apex. On the one side is Prime Minister Theresa May, and on the other around 50 unrepentant Brexiteer Tory MPs. The sides are about to cross swords within and without Parliament. Reportedly, May could pass her own – not so mild but negotiable in Brussels – version of Brexit […]

Draghi to lay his print on long term ECB policies prior to exiting next year

Mario Draghi, the President of the European Central Bank, was criticized by major global financial media for insisting to end the easy money policy this December. The argument is that, after ECB’s Governing Council decided at the end of the prosperous 2017 to end its extraordinary monetary policy, the world has become a riskier place. […]

Which countries have the highest unemployment rates?

This article is brought to you thanks to the strategic cooperation of The European Sting with the World Economic Forum. Author: Johnny Wood The global financial crisis that began in 2008 shook the world’s economies, but the long-term impact hit some countries harder than others. First, though, the good news: the Organization for Economic Cooperation and Development’s (OECD) […]

Draghi to hold on zero interest rates until he leaves ECB

The announcement of the end of the monthly money injections into Eurozone by Mario Draghi, the President of the European Central Bank was not received in the capital markets as a hawkish toughening of monetary policy, as it theoretically should have been. The reasons are many. On the contrary, the euro lost more ground with […]

At last Germany to negotiate the costs for a really cohesive Eurozone

Finally, Germany blinked. Chancellor Angela Merkel at last decided  to clearly respond and, up to a certain degree, uphold French President Emmanuel Macron’s ideas, about reforming the Eurozone, in order not only to save it from unraveling, but, if  possibe, to make it more cohesive and stronger. In an interview to last Sunday’s issue of […]

How Europe beat the financial crisis – and the risks it still faces

This article is brought to you based on the strategic cooperation of The European Sting with the World Economic Forum. Author: Kalin Anev Janse, Secretary General, European Stability Mechanism (ESM) Ten years after the financial crisis, what is the most important news for me, coming from the other side of the channel? It is that Europe is booming – […]

Draghi joined Macron in telling Germany how Eurozone must be reformed

Mario Draghi the President of ECB, speaking at the European University Institute in Florence, on 11 May 2018, must have been under the influence of the idealistic aura of this Florentine learning institution. He went as far as proposing political policies, bravely overstepping his role as central banker of Eurozone. Draghi asked for an effective […]

The ECB must extend its money stimulus beyond 2018: Draghi reckoning

Last Thursday, 26 April Mario Draghi, tactfully left it to be understood that Eurozone may not any more grow so fast as we all knew it was doing until recently, and, consequently, the inflation goal of close to 2% may not be achievable. He communicated that by not repeating what he had said on 8 […]

Germany resists Macron’s plan for closer and more cohesive Eurozone; Paris and Berlin at odds

Last week, surprising everybody, Francois Villeroy de Galhau, Governor of the Bank of France and member of European Central Bank’s Governing Council said that the decision to stop ECB’s extraordinarily accommodating monetary measures this year, is premature. So, according to him, the central bank must continue applying its extra relaxed measures well beyond this year. […]

Draghi tells the EU Parliament his relaxed policies are here to stay

The too slow or non existing pace of wage increases is the main reason for the non revival of inflation in Eurozone. This is what Mario Draghi told the Economic Committee of the European Parliament last Monday. He added that this is why the economic slack in the euro area may be larger than we […]

‘Safe Eurobonds’: a new trick to betray the south euro area countries

All along the years after the 2008-2010 financial crisis, which in the European Union took the form banking/government debt breakdowns starting with Greece, there were cries for the creation of a solid Eurozone. In every respect, these calls amounted to demands that super prosperous Germany accepts some degree of risk-sharing with the rest of the […]

Will the end of QE come along with ECB’s inflation target?

The European Central Bank (ECB) will end its Quantitative Easing (QE) programme within the year as the Eurozone continues growing. However, the inflation rate which is not increasing as much as the ECB officials would like, stands as a barrier to its monetary policy. According to Reuters, sources close to the ECB mentioned that the […]

Brexit: UK business fear of a no-deal scenario preparing for the worst

The Confederation of British Industry annual conference which took place last Monday in London was a chance for Prime Minister Theresa May to ask for more patience from the business world. Something though that seems to have been lost as negotiations show no significant progress and time presses both sides. A survey by the Chartered […]

Extra mild ECB tapering of QE and zero interest rates keep euro low

Last Thursday, Mario Draghi, the President of the European Central Bank performed again his superb balancing act, between the needs of the South and the demands of the North. He led the Governing Council of ECB, Eurozone’s most powerful body, to map the exit road from the extraordinary monetary measures (Quantitative Easing) state as frictionlessly […]

German political spillovers: ECB’s Draghi resists first attacks by AfD

Last Monday, Mario Draghi, President of the European Central Bank, speaking at the Economic Committee of the European Parliament had the opportunity to test the grounds and familiarize himself with the nature of political climate he may come across after the German elections. He had a heated exchange with the head of the AfD group […]

Draghi’s 2018 compromise: enough money printing to revive inflation and check euro ascent

Last Thursday Mario Draghi, the President of the European Central Bank, reassured the Eurozone banking conglomerates they will continue being blessed with zero cost money, well into the foreseeable future. He stated, “one thing is clear; the bottom line is that interest rates will stay, as it’s written here, at the present levels (zero for […]

Is euro to repeat its past highs with the dollar?

The strengthening of the euro vis-à-vis the US dollar is taking alarming proportions, puzzling markets and the European Central Bank. The Eurozone single currency has gained 14% from the beginning of the year, with the tempo of appreciation accelerating. It gained around 10% during the summer. For around three years, the ECB has been following […]

Has the EU economy truly revived from the financial crisis?

Last week the European Commission published a press release regarding EU’s recovery from the financial crisis where it is mentioned that the EU, after 10 years since that start of the crisis, is back to growth because of the EU influential actions. What is more, it was announced yesterday that Germany’s gross domestic product in […]

The ECB accuses the politicians of inaction, continues injecting billions to banks

Last Saturday 8 July the Belgian newspaper De Standaard published an interview with Peter Praet, Member of the Executive Board and chief economist of the European Central Bank. Praet said it plainly “We do say that we still need a long period of accommodative policy before we are ready”. What he means by ‘being ready’ […]

ECB intervenes to clean May’s and Schäuble’s mess

Last Thursday 8 June, on the day the Britons were punishing Theresa May for her mistakes and arrogance, the European Central Bank under Mario Draghi was preparing for a less favorable politico-economic environment and a much longer disinflationary period. Indirectly, Mario Draghi blamed the dying out inflation on the avowed neoliberals, of the kind of […]

Germany caught with selfish double standards in euro area policy

Over the past three years the European Central Bank, guided by its President Mario Draghi, has been folowing a super relaxed monetary policy. It has been aiming at reviving uncertain economic growth and dying inflation, by handing out to banks, and through them to the economy, hundreds of billions of euro and at the same […]

ECB steadily continues monetary easing policy as EU economy gains momentum

European Central Bank – Press Conference Vítor Constâncio, Vice-President of the ECB, Mario Draghi President of ECB and Christine Graeff, Director General Communications (from left to right). Location: Frankfurt . Date: 09/03/2017 © ECB, 2017 / Source: ECB – Audiovisual Service It was last Thursday when the president of the European Central Bank gave a […]