In a historic meeting, Employment, Social Affairs and Inclusion Commissioner, László Andor, and local and regional European leaders elaborated yesterday on the shortcomings of Europe’s growth strategy and agreed that a reform is needed on the principles of Eurozone’s Economic and Monetary Union (EMU). They also took stock of the poor performance of the Youth […]EU citizens disenchanted with Economic and Monetary Union over rising poverty and high unemployment
April 5, 2014 by Leave a Comment
In a historic meeting, Employment, Social Affairs and Inclusion Commissioner, László Andor, and local and regional European leaders elaborated yesterday on the shortcomings of Europe’s growth strategy and agreed that a reform is needed on the principles of Eurozone’s Economic and Monetary Union (EMU). They also took stock of the poor performance of the Youth […]EU Commission: a rise in wages and salaries may help create more jobs
April 2, 2014 by Leave a Comment
The Eurozone unemployment rate in February remained stubbornly stuck at the high level of 11.9% since October 2013. According to Eurostat, the EU’s statistical service, the EU28 unemployment rate was 10.6% in February 2014, one decimal point lower than the 10.7% of January this year. Let’s dig a bit into unemployment. On an absolute number […]Commission publishes the first report on the issuance of a Eurobond
April 1, 2014 by Leave a Comment
With a brief report, an Expert Group formed by the EU Commission and mandated to study the issue of “a debt redemption fund and eurobills”, undermined the prospect of a Eurobond issuance, by refusing to formulate a policy proposal. This is the story of the long time debated subject of the issuance of common and […]Easier Schengen Visas for non-EU holiday makers: A crucial issue for south Eurozone countries
March 31, 2014 by Leave a Comment
With Brussels ‘digesting’ two historical developments, the annexation of Crimea by Russia and the creation of the European Banking Union, this new week predictably could be rather quiet. There is a problem though the Commission will try to resolve during the next few days. It’s the EU Schengen visa applications by non EU citizens, who […]Data show EU Economy in a stubbornly subdued state
March 29, 2014 by 1 Comment
At the end of the first quarter of the year (end March 2014) the Eurozone economy doesn’t show any signs of change from its subdued state of the last twelve months. The bearish and widely diverging resumption of activities still prevails, after the four-year recession period which theoretically ended at the second quarter of 2013, […]The EU Commission is lying to the “Right2Water” campaign
March 20, 2014 by Leave a Comment
As expected, yesterday, the European Commission said ‘yes’ to the very first successful European Citizens’ Initiative, organized by the Right2Water campaigners. A ‘no’ reply was unthinkable, just sixty days ahead of the European election. On 1st April 2011, the EU Regulation No 211/2011, under the title of “European Citizens’ Initiative” (ECI), entered into force. According […]The EU Parliament unanimously rejects Commission’s ideas about ‘seeds’
March 12, 2014 by Leave a Comment
Yesterday the European Parliament rejected by 650 votes to 15 the new Regulation on seeds for sowing. The draft law was introduced in the legislative by EU Commissioner Dacian Cioloș. Undeniably, the extent of the negative vote is an indication that ‘something is rotten in the state’ of Berlaymont. The Romanian Commissioner even refused to […]Close to final agreement on the EU Banking Union
March 11, 2014 by Leave a Comment
Yesterday’s Eurogroup and today’s ECOFIN councils are convened almost exclusively to discuss the details of the two remaining gaps in the legal and of course the operating framework of the European Banking Union, which are, the Single Resolution Mechanism and the Resolution Fund. The two legislative bodies of the European Union, the Parliament and the […]The ECB still protects the banks at the expense of the EU taxpayers
March 10, 2014 by Leave a Comment
In a courageous decision, Emily O’Reilly, the European Ombudsman, condemned the decision of the European Central Bank not to disclose a letter the central bank’s then President, Jean-Claude Trichet, wrote to the Irish Finance Minister in November 2010. O’Reilly stated: “I regret that the Governing Council of the ECB has wasted an opportunity to apply […]Eurozone: Economic sentiment-business climate to collapse without support from exports
February 28, 2014 by Leave a Comment
According to the Directorate General for Economic and Financial Affairs (DG ECFIN), of the European Commission, in February, the “Economic Sentiment Indicator (ESI) remained broadly unchanged, marking a marginal increase of 0.2 points in both the euro area (to 101.2) and the EU (to 105.0)”. This was the outcome of increases of the relevant indices […]EU Parliament: Follow the fraudulent money and confiscate it
February 26, 2014 by 1 Comment
In two parallel actions the European Parliament approved, with stormy majorities, two draft laws; one against money laundering and one more to facilitate the confiscation of fraudulently acquired assets. In the first case, the Economic Affairs and the Justice and Home Affairs committees amended a Commission proposal to list in public registers the ultimate owners […]The EU Commission predicts a decimated growth in the next years
February 26, 2014 by Leave a Comment
Yesterday, the European Commission after acknowledging that unemployment will continue ravaging more than half of Eurozone in the foreseeable future and predicting for this and next year a 0.1% ‘strengthening’ of the quite anemic growth rate, it found the courage to state that, “Recovery is gaining ground in Europe”. A lot of courage and probably […]EU-US trade deal: Europe to Americanize its social model?
February 20, 2014 by Leave a Comment
It can’t be both. Either the EU Trade Commissioner Karel De Gucht hadn’t recovered from the transatlantic trip hangover, while speaking in Washington on Tuesday, or he thinks we are all morons. He said: “I invite all Europeans to also discuss their concerns about the Transatlantic Trade and Investment Partnership (TTIP) (free trade deal)… Because […]Banking Union: ECOFIN and Parliament ready to compromise
February 19, 2014 by Leave a Comment
The absolute necessity to conclude before May the trilateral negotiations on the functioning of the Single Resolution Mechanism (SRM) for failing banks and clarify the role of the Intergovernmental Agreement (IGA) (in relation to the control and the use of the Single Resolution Fund), united yesterday all the representatives of three decision-making bodies of the […]Right2Water initiative: Is the Commission ready to listen to citizens?
February 18, 2014 by 1 Comment
Predictably, the Right2Water campaigners while presenting yesterday in the European Parliament their ‘citizens’ initiative’, met opposition from some MEPs only when they crossed the line of the usual pompous but vacuous words about ‘universal rights’ and laid down their meaningful demand to ban privatization of water supply. It turned out that the organisers of the […]The Eurogroup+ is born to govern the EU Banking Union
February 18, 2014 by Leave a Comment
The importance of the Single Resolution Fund, which is supposed to bear the cost of Eurozone’s failing banks, was underlined yesterday evening by the fact that the President of Eurogroup, Jeroen Dijsselbloem, the Dutch minister of Finance, baptized the group of people who will govern the function of the SRF as Eurogroup+. The Eurogroup is […]The EU Parliament backs the ‘Right2Water’ initiative all the way through
February 17, 2014 by 1 Comment
This afternoon the European Parliament is to hold a public hearing on the universal right to clean water, the first such hearing under the European Citizens’ Initiative, which enables the public to ask the EU authorities to table new legislation, provided the initiative is backed by one million people across seven member states. The ‘right2Water’ […]The Parliament rejects cultivating the wrong seeds of the Commission
February 13, 2014 by Leave a Comment
Production, reproduction, trade and use of seeds for sowing are highly complex activities with far-reaching implications, affecting the entire agro-food sector. They concern mainly the productivity in the cultivation of cereals and oil seeds; that is, products which play a crucial role in food self-sufficiency and constitute the very base of the entire food chain, […]Commission to decide definitely on genetically modified Maize 1507 seed
February 12, 2014 by Leave a Comment
The Commission is now expected to definitely authorize or deny the cultivation on EU soil, of the genetically modified seed of maize 1507 developed by the American company Monsanto, an affiliate of US giant DuPont. This decision will allow EU member states to exercise their freedom to choose, whether or not to allow the cultivation […]European Citizens’ Initiative: A game of much publicity and one big lie
February 12, 2014 by Leave a Comment
On April Fools Day 2011, the Regulation (EU) No 211/2011, under the title of “European Citizens’ Initiative” (ECI), entered into force. According to it, one million EU citizens residing in at least one-quarter of the Member States can ‘invite’ the Commission to submit a proposal for a legal act which “they consider to be required […]EU labour mobility: Inconvenient truths for everybody
February 11, 2014 by Leave a Comment
With a memorable lecture at the University of Bristol, entitled “Labour Mobility in the European Union – The Inconvenient Truth”, the European Commissioner László Andor, overturned all and every argument raised by Europe’s xenophobic vote mongers who oppose the internal labour mobility in the EU. Speaking in Britain though, he proved that immigrant workers in […]The Swiss will pay dearly for voting out fellow Europeans
February 11, 2014 by Leave a Comment
Xenophobics, racists and far right political extremists all over Europe have celebrated a razor-thin win of 50.3% in a Swiss referendum last Sunday, favoring an initiative “against mass immigration”. The vote was introduced by the country’s far right-wing Swiss People’s Party and was meant to block the free entry of EU citizens in the country, […]EU Parliament and Council: Close to agreement on the bank resolution mechanism
February 10, 2014 by 2 Comments
During this past week the European Parliament had been working hard on its position over the bank resolution mechanism (the last building block to complete the Banking Union), in the context of the ongoing negotiations between the legislative and the Greek Presidency of the Council. In two consecutive plenaries the MEPs approved resolutions making a […]The historic accomplishment of a seamless EU patent and intellectual property space
February 6, 2014 by 3 Comments
The last building block was laid to its place yesterday, accomplishing the construction of the seamless EU commercial patent and intellectual property protection space and the function of the Unified Court. The relevant regulations will be in force as from 15 January 2015. It has to be reminded that in December 2012, an agreement was […]Parliament compromises on Banking Union but sends market abusers to jail
February 6, 2014 by 2 Comments
Yesterday the European Parliament confirmed its willingness to regulate the EU’s financial sector with determination and the obvious intention of convincing the 500 million European citizens that ordinary people matter more than bankers and derivative dealers. Of course all that is happening ahead of the May European elections. To this effect, the plenary of the […]Commission criticised member states on blocking financial transaction tax
February 5, 2014 by 1 Comment
European Commissioner Algirdas Šemeta, responsible for Taxation and Customs Union, while speaking yesterday at the plenary of the European Parliament, accused openly some of the 11 member states which have initially agreed to introduce the Financial Transaction Tax, that they are dragging their feet, letting those lobbies which oppose the tax to actually block any […]The EU Commission fails to draw the right conclusions about corruption
February 4, 2014 by 1 Comment
Cecilia Malmström, EU Commissioner for Home Affairs presented yesterday the first EU Anti-Corruption Report. The Commission estimates that corruption costs €120 billion a year to the European economy. This could be a very low approximation of reality though, because the vast majority of EU citizens believe that among politicians at national, regional, local and EU […]Do academia and banks favour a new Middle Ages period?
February 3, 2014 by Leave a Comment
Androulla Vassiliou, European Commissioner for Education and Culture, delivered a speech last Friday in London’s King’s College, entitled “Investing in education in times of crisis”. Her major point was that virtually all EU governments are either reducing their education spending or maintaining current levels. She added that “The latest data from Eurostat tells us that […]Economic sentiment and business climate stagnate in miserable euro area
January 31, 2014 by Leave a Comment
Tantalizingly slow proves the tempo of Eurozone’s economic resumption, if such a thing exists at all. According to the European Commission Directorate General for Economic and Financial Affairs (ECFIN), “in January the Economic Sentiment Indicator (ESI) increased by 0.5 points in the euro area (to 100.91) and by 0.9 points in the EU (to 104.7)”. […]A new proposal breaks the stalemate over the Banking Union
January 29, 2014 by Leave a Comment
According to the European Commissioner Michel Barnier, the Eurozone member states, who participate in the Eurogoup and the ECOFIN councils are ready to soften their position in the negotiations with the European Parliament, to lift the deadlock over the creation of the Banking Union. This is a step forward in resolving the stalemate around the […]The mother of all fights about inflation, growth and banks
January 28, 2014 by Leave a Comment
Reading two accounts by two different people, about what happened in the Eurogroup meeting yesterday in Brussels, gives a clear indication of what will be decided in the ECOFIN Council today. Ollie Rehn, Vice-President of the European Commission and member of the Commission responsible for Economic and Monetary Affairs and the Euro, and Jeroen Dijsselbloem, […]ECOFIN: Choosing between the re-unification of Eurozone and a stalemate
January 27, 2014 by Leave a Comment
Tomorrow’s Economic and Finance Ministers Council (ECOFIN) set to be convened in Brussels, the first under the Greek Presidency, will have the crucial task to decide on the construction of the European Banking Union. In view of that, the European Parliament sent a letter to the Greek Presidency of the Council, rejecting both the legal […]War of words in Davos over Eurozone’s inflation/deflation
January 27, 2014 by Leave a Comment
During the last two days, Friday and Saturday, of this year’s Davos gathering of the rich and powerful, an intense debate about Eurozone’s inflation or rather deflation, divided once again the Old Continent between Germans and…anti-Germans. Ollie Rehn, the Finn European Commission Vice-President and Commissioner responsible for finance and the euro, said that the currently […]
