Britain, EU take edgy steps to unlock Brexit talks as the war of words rages

Last Monday the British Prime Minister Theresa May told the lower house of the Parliament, The Commons a no-deal Brexit is not ruled out. She clarified also that the government ‘is planning for all eventualities”, including the possibility the UK sails after Brexit as an “independent trading nation”. Then she concluded “The ball is in […]

Elections results: Austerity’s black to prevail in the new multicolored German government

During the past ten years, Germany has become a politically boring country and yesterday’s election is not going to change that, despite the loss of around one million votes for the Chancellor’s party. Angela Merkel’s win came to none’s surprise and the results permit her to embark on a fourth term in the top job. […]

Brexit: Britain and the Continent fighting the battle of Waterloo again

The British Prime Minister Theresa May is amidst an agonizing effort to put together a decent package of trade deals or at least initial and relevant MOUs for the after Brexit era. The obvious reason for that is to convince the Brits and the Parliament that her country will survive after March 2019, in case […]

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 […]

Berlin vies for a Germanic European Central Bank

Last week, the deep German state struck again targeting the heart of Eurozone. The hit was effectuated by Sabine Lautenschläger, a middle aged Stuttgart born ex BaFin (Federal Financial Supervisory Authority) employee and presently member of the powerful executive board of the European Central Bank. Sabine now wants the ECB to abandon its extraordinary monetary […]

Trump’s Russian affair spills over and upsets Europe

The turmoil in the American political system, caused by President Donald Trump’s Russian affair is having spillovers in Europe. Of course, it’s not the first time that Trump and his out of control political ‘inspirations’ instigate trouble for the Old Continent and the rest of the world. This time however, the US Congress prepares new […]

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’ […]

Trump ‘used’ G20 to side with Putin and split climate and trade packs

While protesters were dynamically trying to reach the part of Hamburg where the G20 leaders of the largest economies of the world were gathered, the most powerful politicians of the globe were reduced to the status of viewers, in the Donald Trump and Vladimir Putin spectacle of rapprochement. Trump also ‘used’ the G20 to tell […]

PM May fosters chauvinism, declares trade war on Europe

  Theresa May, the British PM seems to be so badly cornered by the dreadful reality she and her Brexiteer colleagues have driven their country into, that they have now started acting as if in a collective delusion. Reportedly, they have officially informed the business leaders of the entire UK, that the government may abandon […]

Europe to turn the Hamburg G20 Summit into a battlefield

This week’s G20 Summit in Hamburg, Germany is expected to become a battlefield from the very first gathering. Chancellor Angela Merkel is to attack the US President Donald Trump, about his rejection of the Paris Climate Agreement. The American will reply with a demand for ‘free and fair trade’ as he ventures it, especially for […]

The EU slams Theresa May’s Brexit option; sets base for own European defense, security platform

Last week’s EU Summit in Brussels set a solid base for the frictionless functioning of the European Union of 27, minus Britain. For one thing, the UK Prime Minister Theresa May fell on a solid wall of distrust. The mainland leaders ostentatiously repelled her vague offer, about the position after the Brexit of the around […]

Macron has the deputies but not the people’s consent for his far reaching reforms

The French electoral system of ‘two Sundays’ has permitted Emmanuel Macron to become President, despite being the first choice of only 24.015% of the voters on the first electoral round of Sunday 23 April. Then, exactly for the same reason, his newly born party “La République en marche” (REM or LREM) is now estimated to […]

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 […]

The ECB again takes care of the bankers not the people

Last week the European Central Bank surprised everybody by letting it be known that interest rates will “remain at present or lower levels for an extended period of time, and well past the horizon of our net asset purchases”. To be noted, presently, the main refinancing operations interest rate is zero. Of course, the markets […]

Trump asked Merkel to pay NATO arrears and cut down exports ignoring the EU

The German Chancellor Angela Merkel returns to Berlin with a bill her country must pay to the US. The check was handed over to her personally by the American President Donald Trump last Friday at the White House. In a very clear manner he estimated what Germany owes to NATO, and indirectly to the US. […]

EU Summit: Why was Poland isolated in opposing Tusk and the ‘multi speed’ Europe

Until last week’s summit (Thursday and Friday) of the 27+1 European leaders in Brussels, the exit of Britain from the European club was the tougher test for the club’s unity, which everybody was more or less getting ready to face up to. However, the Polish Prime Minister, a stocky middle aged woman, reversed that and […]

The widely advertised hazards of the EU not that ominous; the sting is financial woes

Last Monday, Deutsche Bank’s management surprised everybody quite negatively by asking its shareholders for an €8 billion capital injection. Only hours before that, the London Stock Exchange had almost terminated the long negotiated merger procedure with the Deutsche Börse, the German bourse in Frankfurt. The LSE directors rejected the terms set by the European Commission […]

Elections in Europe: No risks for the EU, leaders readying to face Trump-Brexit

Some political analysts in mainland Europe but many more in Britain and on the other side of the Atlantic Ocean in the US, have rushed to call 2017 the year that can make or break the European Union. They basically argue that the three crucial legislative elections due in Holland next month, in France in […]

The four top Americans who flew to Europe perplexed things about Trump’s intentions

Four top ranking Washington bigwigs – who flew to Munich, Brussels and Bonn to mend fences with Europe, after Donald Trump termed NATO ‘obsolete’ and rejoiced the unraveling of the EU, left the Europeans bewildered with the dangerously diverging stories they had to narrate. Only the extreme right wing, Polish Defense Minister Anton Macierewicz seemed […]

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

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 […]

EU: Divided they stand on immigration and Trump hurricanes

The last Friday’s Malta Summit of the 28 minus 1 EU leaders, on emigration and the future of Europe, was convened amidst a steaming wider political environment within and without Europe. The Council could only agree upon on transferring another €200 million to the one of the at least two Libyan governments, that a small […]

Europe led by Germany seems vulnerable to Trump’s threats

Trump’s America and Europe are obviously at odds. The question is how far this division will go? Unquestionably, it’s the new tenant of the White House who fuels this unseen before confrontation between the Atlantic allies, attached by a time cherished bonding that has politically and economically shaped the world as we know it so […]

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. Photo: Alexis Haulot. The citizens of three of the strongest European countries, having in their minds the recent terrorist […]

US prosecutors now target Volkswagen’s top management, upsetting Germany

Last Monday, the US prosecutors held Volkswagen executive Oliver Schmidt, charging him with plotting to deceive the United States, over VW diesel emission scandal. He is to appear today in the U.S. District Court in Miami in a hearing before a U.S. Magistrate Judge. The VW employee was shown shackled and wearing a jail outfit. […]

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

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

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 […]

Fear casts again a cold, ugly shadow over Europe; Turkey sides with Russia

The deadly attack in a Berlin Christmas market and the assassination of the Russian ambassador in Ankara, may not be closely connected or plotted by related terrorist circles, but they aim at the same target; to terrify entire populations and block what could lead to a solution in the Syrian mess. Add to that the […]

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

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 […]

After the Italian ‘no’ and the Brexit, Germans must decide which Europe they want

There is no doubt that Europe is in disarray. The long standing malaise of high unemployment and economic stagnation has already mutated into critical political problems. The mutations of the European political ecosystem take various, unseen before forms. In the northern EU countries they invariably appear as extreme right or even semi-fascist political parties, inflated […]

Turkey’s Erdogan provokes the US and the EU by serving jihadists and trading on refugees

President Recep Tayyip Erdogan of Turkey, after having declared war against the political, judiciary and civic structures of his own country, employs the same belligerent tactics in the domain of foreign policy. He now threatens to send to Europe 3 million refugees and immigrants who are stationed in Turkey. True, more than three million people, […]