France gets once more under the microscope. Apparently the second biggest economy of Europe is il for the past couple of years in trouble. Given its enormous political power historically in Brussels L’Exagone was getting away with it for quite some time but it seems that now the time has come for drastic medication. The Macron […]France fails again the exams. Kindly requested to sit in on Commission’s class
December 12, 2014 by Leave a Comment
France gets once more under the microscope. Apparently the second biggest economy of Europe is il for the past couple of years in trouble. Given its enormous political power historically in Brussels L’Exagone was getting away with it for quite some time but it seems that now the time has come for drastic medication. The Macron […]“C’est la vie”? French recession and unemployment to linger in Eurozone
December 5, 2014 by Leave a Comment
It was last Wednesday when the financial information services company Markit published the Markit Eurozone Composite Purchasing Managers Index (PMI) for the month of November. This indicator revealed a weak growth outlook for the 18-country Eurozone while the disappointment of investors was apparent. November’s Eurozone economic growth The downslope of Eurozone’s growth continued in November […]How much time has the ‘European Union of last chance’ left?
November 27, 2014 by Leave a Comment
Ahead of the 18-19 December Summit of the 28 EU leaders, the European economy dives deeper in recession and disinflation. Brussels sources estimate that November inflation plunged again to 0.3% from 0.4% in October, widely diverging from the institutional target of below but close to 2%. There is more to it though. According to Eurostat, […]France pushes UK to stay and Germany to pay
November 21, 2014 by Leave a Comment
Emmanuel Macron, France’s minister of Economy, visited London this week in an attempt to step up for his country’s future policy reforms. Among others, Macron announced that Britain must remain an EU member state and that Germany should invest in the EU. However, it was not mentioned anything about the fines that the European Commission […]EU to finance new investment projects with extra borrowing; French and Italian deficits to be tolerated
October 30, 2014 by Leave a Comment
The EU Commission has correctly translated the ideas emanated from the Brussels’ European Council of 23-24 October and accordingly adjourned confrontation with France and Italy over budgetary deficits and extra investment spending for 2015. European Commission Vice President Jyrki Katainen responsible for financial affairs and the euro seems to have read very carefully the Conclusions […]France asks help from Germany but it will not be for free
October 24, 2014 by
France and Germany had a ‘meeting’ last Monday to discuss about the latter’s support on the problematic budget of France regarding the high deficit levels. This comes after the submission of France’s 2015 budget upon approval by the European Commission (E.C.). The Hexagone claims that slow growth must be fought at all costs. However, Germany is […]Can privatisation be the panacea for the lack of growth in Europe?
October 15, 2014 by Leave a Comment
An interesting topic was treated last Monday evening in Brussels and the European Sting was present to listen to some ideas on how to boost growth in the European Economy in a pragmatic manner. It would be unfair to say that the idea on the table of the discussion was original or innovative but nevertheless it […]Is Germany yielding to pressures for more relaxed economic policies?
October 9, 2014 by Leave a Comment
Not surprisingly, European Commission’s quarterly review on ‘Employment and Social Situation’ and its “Annual Report on European SMEs 2013/2014” which were published last week, both conclude that economic recovery is still quite uncertain, while small and medium businesses are always in contraction, constituting the main impediment to growth. Despite all that, and as if economic […]There is a way for Eurozone to reach a sustainable growth path
September 22, 2014 by Leave a Comment
Slowly but surely Euro area inflation rate heads for the zero zone, making decision makers nervous and everybody else, especially the unemployed young even more pessimistic and passive about their present situation and the future prospects. And all that is happening in this part of the globe where only a few years ago the Europeans […]Back to the basics for the EU: Investment equals Growth
September 18, 2014 by
It was only last Saturday when the European finance ministers gathered in Italy to decide how to bring back growth, a long-plaguing hoarse of the EU economy. They came to the conclusion that more investment programmes are needed to help the financing of infrastructure projects and development of the economy. Not a single project proposed […]France breaks budget promises once again and the EU’s finance offices are shaking
September 16, 2014 by Leave a Comment
Last Wednesday, just two days before Eurozone’s finance ministers met for informal talks in Milan, the news had come in: France will not achieve a 3% EU budget deficit target this year. During a conference in Paris, the French finance minister Michel Sapin said that the country’s budget deficit will be around 4.4% of GDP in 2014 […]Europe might not avoid new partitioning on Ukrainian crisis
June 24, 2014 by Leave a Comment
It seems that a confrontational paranoia is engulfing our world. The British Prime minister is waging an aggressive campaign (which may end up being self-destructive) against the candidacy of Jean-Claude Juncker for the Presidency of the Commission. The German Chancellor Angela Merkel is encountering this British challenge with an all-out offensive having organized a continental […]Why youth unemployment is so difficult to counter
June 10, 2014 by Leave a Comment
With the unemployment rate of the young under 25 around 2.6 times higher than the overall percentage of people without a job in the European Union, an existential and fact-based question arises; does the EU really need a next generation of workers and consumers? Or rather, have the decision makers, in the political and economic […]Falling inflation urges ECB to introduce growth measures today
June 5, 2014 by Leave a Comment
Eurostat, the EU statistical service, announced yesterday its flash estimate for May inflation at 0.5%, down from 0.7% in April, thus raising concerns that Eurozone is irreversibly heading to deflation area and confirms fears that the single money zone is threatened by a too low inflation for a too long period of time. Falling […]Moscow’s Eurasian Union lost significance after the crisis in Ukraine
June 3, 2014 by Leave a Comment
Last Thursday 29 May, the Presidents of Russia, Belarus and Kazakhstan signed the last and most important document, the founding Treaty for their Eurasian Union, to have effect as from 1st January 2015. Four more countries Armenia, Kyrgyzstan, Tajikistan and Uzbekistan have also expressed strong interest to adhere to this new politico-economic entity. The EaU […]Eurozone: The crisis hit countries are again subsidizing the German and French banks
May 19, 2014 by Leave a Comment
The European Commission, the European Central Bank and the International Monetary Fund, the infamous ‘Troika’, officially declared that Portugal has successfully completed the assistance program and now as a financially self-sustainable country she can address herself to the markets, whatever this last term means. Towards the end of April, Portugal sold a €750 million bond […]Hollande protects the euro from the attacks of extremists
May 14, 2014 by Leave a Comment
On 8 May, on the anniversary of the Allied Forces victory against Nazi Germany marking the end of World War II, François Hollande, the French president, used the occasion to defend the European project. He wished that all the French citizens could listen to what he had to say. To this effect the French president […]French Prime Minister passes Stability Program and takes his ‘café’ in Brussels this June
May 2, 2014 by Leave a Comment
On Tuesday, Manuel Valls, the French prime minister presented the “Pact of Stability” in front of the French parliament. This was his first appointment with the French politics. With a forecast of a big number of abstentions beforehand, Mr Valls attempted to soften the directive of austerity with several amendments. Moreover, last Monday he decided to increase taxes only […]How the EU crisis hit countries saved the German and French mega-banks from bankruptcy and still pay the costs
April 29, 2014 by Leave a Comment
The European Commissioner for Employment, Social Affairs and Inclusion László Andor, speaking in a Conference on working conditions yesterday in Brussels, revealed that during the past few years the working conditions in the EU have greatly deteriorated, despite the ambitious targets set for the 2020 EU Strategy. According to Eurostat data: *Around 60% of temporary […]What has changed in the French politico-economic horizon
April 4, 2014 by 2 Comments
Last Sunday evening, the verdict was in. The party of the right, for many the right party, won the municipal elections in a background of large abstention. Already the first round, had left the left party in a bad shape. This was confirmed in the second round, as the Socialist Party suffered an electoral defeat […]Bank resolutions to remain a politically influenced affair
March 12, 2014 by Leave a Comment
Today in Strasbourg the three EU decision making bodies, the Council as represented by its Greek Presidency, the Parliament and the Commission, in a procedure called ‘trilogue’ will try to bridge their differences and come up with a ground breaking agreement to complete the European Banking Union. This is the most important project enterprised by […]Parliament: Last compromise on bank single resolution mechanism
March 6, 2014 by Leave a Comment
Undeniably, the European Banking Union’s prime target is to definitely cut the umbilical cord between banks and sovereigns, through the creation of a uniform supervision and insolvency dealing environment for all Eurozone lenders. Yet, Germany and France insist that the final decision for the resolution of a failing bank must be taken by member state […]Ukraine: The West and Russia negotiate shares of influence
March 6, 2014 by 1 Comment
The seriousness of approach, the magnitude of the interest and the pertinence of the proposal the European Union adopted yesterday to end the stalemate in Ukraine can be seen in the kind of money the EU sets aside for this country. José Manuel Barroso, President of the European Commission stated yesterday that the Union can […]Europe enters uncharted waters with Kiev-Moscow standoff
March 4, 2014 by Leave a Comment
With a brief announcement of the G7, the West is practically recognising the occupation of Crimea by the Russian armed forces as a ‘fait accompli’ and by the same token the dismembering of Ukraine. The announcement signed yesterday by the G7 heads of states or governments, even accepts that Russia has “security or human rights […]Eurozone: Despite anemic growth and shaky banks marks record trade surplus
February 15, 2014 by Leave a Comment
Yesterday morning, Eurostat, the EU statistical service, reserved a pleasant surprise to the European decision-makers by announcing its estimates for economic growth during the last quarter of 2013, with all four big Eurozone economies found in the positive part of the chart. Of course this development was not a surprise for Germany, but for both […]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, […]Brussels enraged with Swiss referendum result to keep out EU citizens
February 10, 2014 by 1 Comment
This morning the European Union clearly showed its complete disappointment, with last Sunday’s result of a referendum held in Switzerland, where with a narrow majority of 50.3%, the people of this country approved a “mass immigration” initiative, imposing quotas on European Union citizens entering the Alpine Confederation. The narrow approval of this new law is […]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 […]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 […]Poor Greeks, Irish and Spaniards still pay for the faults of German and French banks
February 3, 2014 by Leave a Comment
Government deficit decreased substantially in the third quarter of last year and reached -3.1% of the GDP in Eurozone. This is just one decimal point away from the 3% benchmark, set by the Treaty of Maastricht and the strict EU economic governance Regulations (the famous ‘two’ and ‘six’ packs). The gap between government income and […]Commission paralysed before the banking leviathan
January 30, 2014 by 1 Comment
Although the “Structural reform of the EU banking sector”, as proposed yesterday by European Commission member Michel Barnier, undoubtedly goes halfway to fulfilling the suggestions of the Erkki Liikanen High Level Group Report, it agitated people on both sides of the spectrum. Those who protect the banks by profession said it is ‘irresponsible’, and those […]Rising political extremism in Europe escapes control
January 20, 2014 by Leave a Comment
Everybody knew it but ‘The Independent on Sunday’ said it this weekend; Nigel Farage’s UKIP political formation is the first choice of the Brits. The newspaper published a poll giving 27% to UKIP, 26% to Labour and 25% to Conservatives. Not to forget that last year this party got almost one-quarter of the English vote […]No way out for Eurozone’s stagnating economy
January 15, 2014 by Leave a Comment
This morning the German Federal Statistical Office issued a Press release revealing that the country grew by a mere 0.4% last year. This is almost half than the 0.7% GDP increase that Germany recorded in 2012. Along the same line of developments, Eurostat, the EU statistical office, published a Press release estimating that the Eurozone […]
