The Monetary Union drives Europe into dangerous paths, CoR demands an EMU of regional content

Last Thursday 7 April, the European Committee of the Regions (CoR) concluded that there is “No successful reform of the Economic and Monetary Union without a regional dimension”. Indirectly, this means the EMU remains a system just to support the banking industry. In other words, the banks are still completely unregulated, high flying and counting […]

A new crop of EU ‘Boards’ override the democratic accountability and undermine the EU project

Last Wednesday 16 September the European Economic and Social Committee, an authentic representative of the European organized civil society, adopted an opinion aimed at improving the democratic function and the accountability of the EU decision-making bodies. The EESC acted at the request of the European Parliament. Actually, the Lisbon Treaty contains untapped potential to bring […]

Does the Greek deal strengthen the Eurozone? Markets react cautiously

Is Eurozone strengthened after the Greek deal? At first reading the answer is a straightforward ‘yes’ because the other option, the Grexit, the exit of the country from the euro area, would have reversed the theoretically irreversible participation in the monetary zone. According to the Treaties, on which the Economic and Monetary Union (EMU) of […]

EU citizens disenchanted with Economic and Monetary Union over rising poverty and high unemployment

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 Parliament: Deposit guarantee and trading platform transparency sought

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 […]

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 […]

A new arrangement between Eurozone’s haves and have-nots

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 […]

The new EU “fiscal compact” an intimidation for all people

All the major media of the world announced that as from yesterday 1 January 2013 the European Union has a new Treaty on Stability Coordination and Governance, known as “the fiscal compact”, which aims at imposing fiscal discipline in the Eurozone area, plus any other EU country wishing to join.Theoretically, the ultimate goal of the […]