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In the efforts to solve the latest Greek enigma, the European Central Bank has once more proved that when it comes to what matters more in the EU, the Eurozone, it constitutes the power house of the entire European edifice. The ECB emerges imbued by truly pan-European motives in serving the Union project. When the […]
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 […]
It is very interesting to note how the various sides reported on the workings of the first meetings of ECOFIN and Eurogroup councils after the summer break. Seemingly the 28 ministers of Finance and the 17 of them making up respectively the two bodies discussed all the burning economic and financial issues, from the disbursement […]
During the past few weeks there is a noticeable change of climate in Brussels towards a more relaxed attitude over economic policies. On Monday the President of Eurogroup and minister for Finance of Holland, Jeroen Dijsselbloem asked in a letter his 16 colleagues in view of their Luxembourg meeting, to reduce the sovereign debt […]
Eurogroup President and minister for Finance of Holland, Jeroen Dijsselbloem, in an unexpected move this week sent his peers a letter to invite them to their 20 June meeting in Luxembourg, asking them to think about taking a decision on a possible recapitalisation of Eurozone banks directly from the European Stability Mechanism, with retroactive enforcement. […]
Thank God the European Parliament is there. Today 12 June the Plenary Session of the Parliamentary Committee for Economic and monetary affairs will ask the Commission and the member states, through the European Council, to explain why they are dragging their feet on crucial financial sector reform legislation, in a debate starting at 8.30 this […]
Once more the world got together in the G7 group of the industrialised nations and asked Germany to spend more in order to help the rest of the Eurozone and the globe start growing again. The last time was in Washington during the Spring Conference of the International Monetary Fund and the World Bank, where […]
The next European Council which is to take place in Brussels on Wednesday 22 May will be pivotal for the European Monetary Union (EMU), that is the Eurozone. Despite the fact that according to high-ranking Council officials there won’t be any decision on the EMU this month, there is evidence that the 17 Eurozone leaders […]
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