Brexit update: Tusk’s proposal is out and Cameron takes it all

It was just yesterday when Donald Tusk, president of the European Council (EC), released a draft deal that intends to keep Britain within the EU. This new proposal is mostly aligned with what the British Prime Minister has been asking for from the European Union. However, this draft text must be voted by all 28 […]

It’s a week dedicated to all EU budgets; seven days that can make or break the Union

All EU member states budgets including the EU’s proper one will be under scrutiny this week in Brussels. Let’s start from the Union’s own budget for 2014. Today Monday, a Conciliation Committee, made up by the 28 representatives of the member states and 28 European legislators, has to agree on EU’s budget for 2014. Earlier […]

EU economic governance: More exploitation for the weaker countries

Last Tuesday 15 October was the last day the 28 EU member states, and more so the 18 Eurozone countries, had to submit to the Commission for approval their draft budgets for 2014. It is the first time that the European Union member states and more particularly the euro area countries, before presenting their state […]

EU Commission accuses Germany of obstructing growth and the banking union

The European Commission at the Semester Press Conference in Brussels yesterday confirmed in the most official way, what was already known. Belgium, the Netherlands and Portugal, are getting an extension of the deadline to correct their fiscal deficits by one year and France, Poland, Slovenia and Spain by two years. This Semester conference comes in […]

The EU Parliament slams Commission on economic governance

European Commission vice President, Ollie Rehn, responsible for Economic and Monetary Affairs and the Euro, delivered a speech in the European Parliament on the “Social pillar of the European Monetary Union-EMU”, which was very ill-received by the legislators. The Parliamentarians yesterday went as far as to comment bitterly in a resolution they issued afterwards, saying […]

EU: Centralised economic governance and bank supervision may lead to new crisis

In the first Economic and Financial Affairs Council (ECOFIN) of the year on January 22, the two first and more important items on the agenda were the “enhanced economic governance and policy coordination” (the “two-pack” economic governance) and secondly the “financial regulation and bank supervision”. On both accounts the Council made giant steps forward setting […]