Germany not famous for easy way outs from political stalemates

And now ‘Frau Bundeskanzlerin’ what? The truth is though whatever the future holds for the German political landscape, is no good. Chancellor Angela Merkel’s failure last weekend to form a government, with a viable parliamentary majority has irreparably stained the so far pristine scenery of the country’s politico-economic affairs. The unsuccessful attempts to convince liberal […]

EU Trust Fund for Africa: Can it be beneficial for Italy and tackle the migration crisis in the Mediterranean?

It was last week when the EU leaders met in Brussels to discuss how to support Italy with managing the refugees’ crisis in the central Mediterranean. The increase of the financial aid in the Trust Fund for Africa is believed to be one of the main ways to deal with this long-lasting issue. However, this […]

The EU Commission vies to screen Chinese investment in Europe

Last week, Jean-Claude Juncker, the head of the powerful European Commission, the executive arm of the European Union, announced a plan to screen foreign investments. The idea is to hold back or even effectively block business acquisitions or other investment plans financed by third country companies, in key sectors allegedly considered to be sensitive from […]

Refugee crisis update: EU still lacks solidarity as Hungary and Slovakia refuse to accept EU Court’s decision

It was last Wednesday when the Court of Justice of the European Union rejected a challenge by Hungary and Slovakia regarding their denial on relocating refugees from Greece and Italy. Both countries though do not intend to change their position on the issue. Commissioner for Migration, Home Affairs and Citizenship Dimitris Avramopoulos mentioned that there has […]

Refugee crisis: Commission proposes a new plan urging EU countries to help Italy

The EU interior ministers gathered last Thursday in Tallinn to discuss Italy’s problem to deal with migration crisis together with the new Action Plan proposed by the European Commission to support Italy and increase solidarity in the EU. The refugee crisis continues plaguing Europe in 2017 as 101.266 migrants have entered the bloc by sea […]

Refugee crisis update: Commission is struggling alone with little help from EU or G7 leaders

The European Commission has been fighting the migration crisis urging the EU countries for their support to tackle this long-lasting issue but no or little contribution is provided. Last Thursday, the president of the EC prompted the Czech Republic to change its decision regarding their denial on accepting asylum seekers from Greece and Italy under […]

Germany caught with selfish double standards in euro area policy

Over the past three years the European Central Bank, guided by its President Mario Draghi, has been folowing a super relaxed monetary policy. It has been aiming at reviving uncertain economic growth and dying inflation, by handing out to banks, and through them to the economy, hundreds of billions of euro and at the same […]

Will the EU ever tackle the migration crisis despite the lack of political will?

Despite the fact that migration crisis figures have decreased compared to last year, the disappointing commitment of some countries to fulfil their obligations receiving asylum-seekers from Greece and Italy combined with the worsening situation in the Mediterranean are perpetuating this crisis. The European Commission (EC) continues its hard work towards the completion of the relocation […]

The ECB again takes care of the bankers not the people

Last week the European Central Bank surprised everybody by letting it be known that interest rates will “remain at present or lower levels for an extended period of time, and well past the horizon of our net asset purchases”. To be noted, presently, the main refinancing operations interest rate is zero. Of course, the markets […]

Twenty days that may remold the future of Europe

The next few weeks may indelibly stain the future of Europe. There are three issues which can irreparably hurt the Old Continent. Starting from Britain in the extreme northwest, this week the country showed that she risks plummeting into a jingoistic abyss. A confrontation with Spain about the Gibraltar Rock has provoked a wave of […]

Chatterbox Rome Declaration cannot save the EU; Germany has to pay more to do that

Last Saturday, the phantom of Wolfgang Schaeuble, the hawkish German minister of Finance, overshadowed the gathering of the 27 EU leaders in the Italian capital, without him having left Berlin. The heads of EU states or governments, at the exception of British MP Theresa May, went there to celebrate the 60th anniversary after the signing […]

EU Summit: Why was Poland isolated in opposing Tusk and the ‘multi speed’ Europe

Until last week’s summit (Thursday and Friday) of the 27+1 European leaders in Brussels, the exit of Britain from the European club was the tougher test for the club’s unity, which everybody was more or less getting ready to face up to. However, the Polish Prime Minister, a stocky middle aged woman, reversed that and […]

The widely advertised hazards of the EU not that ominous; the sting is financial woes

Last Monday, Deutsche Bank’s management surprised everybody quite negatively by asking its shareholders for an €8 billion capital injection. Only hours before that, the London Stock Exchange had almost terminated the long negotiated merger procedure with the Deutsche Börse, the German bourse in Frankfurt. The LSE directors rejected the terms set by the European Commission […]

Refugee crisis update: EU fails to relocate immigrants from Greece and Italy

The European Commission announced last Thursday new measures for an efficient EU return policy together with the progress made and must be done by the EU member states on the EU’s relocation and resettlement schemes by September and beyond. The slow relocation pace of refugees transferred from Greece and Italy to the rest European countries […]

Why is Grexit again in the news? Who is to pay for Eurozone’s banking problems?

Grexit, Greece’s exit from the euro area, is back in the news – for the wrong reasons. During this past week, the country’s creditors, the European Commission, the European Central Bank, the European Stability Mechanism and the International Monetary Fund, finally agreed amongst themselves to set even tougher conditions in order to continue refinancing the […]

EU: Divided they stand on immigration and Trump hurricanes

The last Friday’s Malta Summit of the 28 minus 1 EU leaders, on emigration and the future of Europe, was convened amidst a steaming wider political environment within and without Europe. The Council could only agree upon on transferring another €200 million to the one of the at least two Libyan governments, that a small […]

Europe led by Germany seems vulnerable to Trump’s threats

Trump’s America and Europe are obviously at odds. The question is how far this division will go? Unquestionably, it’s the new tenant of the White House who fuels this unseen before confrontation between the Atlantic allies, attached by a time cherished bonding that has politically and economically shaped the world as we know it so […]

A shortened EU Summit admits failures, makes risky promises

Last Thursday, 15 December, the cut down to one day European Summit, confirmed that Europe continues on the wrong path. The 27 + 1 leaders acknowledged the complete failure of key policies regarding Syria and Turkey and kept making promises to Ukraine and Georgia they cannot honor. Unfortunately, Brussels refuses to learn the lessons still […]

EU prepares for the worst case scenario as Turkey seems to be withdrawing from the migration deal

The EU Foreign Ministers convened in Brussels two days ago with Austria calling for a tougher stance towards the Turkish membership urging the EU to freeze negotiations due to the recent security crackdown in Turkey. The EU leaders will discuss the EU-Turkey refugee deal on Thursday which is directly linked to the Turkish accession talks. Erdogan […]

ECB: The bastion of effective and equitable Europeanism keeps up quantitative easing

Last Thursday, 12 December, Mario Draghi, President of the European Central Bank, was forced to compromise with the Germans during the Governing Council’s regular meeting. He accepted to reduce the monthly injections of cash into the economy (through asset purchases of mainly government bonds) from €80 billion to €60bn, along the lines of the nonstandard […]

After the Italian ‘no’ and the Brexit, Germans must decide which Europe they want

There is no doubt that Europe is in disarray. The long standing malaise of high unemployment and economic stagnation has already mutated into critical political problems. The mutations of the European political ecosystem take various, unseen before forms. In the northern EU countries they invariably appear as extreme right or even semi-fascist political parties, inflated […]

At the edge of humanity: refugee healthcare in Greece and the EU

This article was exclusively written for the Sting by Ms Eleana Strouthou. The writer is a second year medical student at European University Cyprus Nicosia.  Mrs Strouthou is affiliated to the International Federation of Medical Students Associations (IFMSA). We were driving in Lesvos, Greece, passing by the people walking towards the port, a 12-hour distance by feet. “Stop there, let’s help the […]

How will the EU face the migration crisis when the Turkish threats come true?

The European Parliament adopted a resolution on 24 November calling for the negotiations to be suspended between the EU and the Turkish government until the latter ends its suppressive and dominant response to July’s failed coup. But this decision has triggered immediate reactions by the Turkish and European sides. While the president of Turkey threatens to […]

Trump and Brexit: After the social whys the political whereto

The economic, social and political gaps between the power hubs of New York and Washington on the one hand and the American Mid-West and Southern states on the other is equal to the space dividing London from the rest of Britain. These distances probably compare to the vacuity separating earth from the moon. This is […]

What the US and the world can expect from the 8 November election?

From Beijing and Tehran to Brussels and London, and further away to Mexico City and Caracas the night of 8 November will create a landmark in contemporary world history. The results of the US election and the new occupant of the White House in Washington D.C will certainly affect the way the world turns around. […]

IMF – World Bank meetings: US – Germany clash instituted, anti-globalization prospects visualized

This year’s annual meetings of the IMF – World Bank Group in Washington D.C., which kicked off on Thursday 6 October, turned out to be an all out financial war of words between the United States and Germany. In the middle of it stands the battered Deutsche Bank. For a start, there was a confrontation […]

The migration crisis is slowly melting the entire EU edifice

Last Sunday Hungary voted against the EU mandatory migration plan of accepting 1,294 asylum seekers from Italy and Greece but the referendum’s outcome was considered invalid because it didn’t reach the required threshold of 50%. Hence, it has no legal consequences and Hungary is obliged to follow the EU rules, which implies that the member […]

Turkey to let EU alone struggle with the migrant crisis while enhancing its economic ties with Russia instead?

The Turkish President Recep Tayyip Erdogan met the Russian President Vladimir Putin yesterday in St. Petersburg to improve their relationships after the sanctions that Russia imposed on tourism and Turkish exports due to the deadly air fighter incident that took place last November, when Turkey took down a Russian fighter. Turkey’s approach towards a revival of a […]

Deutsche Bank: the next financial crisis is here and the lenders need €150 billion from taxpayers

Last Monday David Folkerts-Landau, the chief economist of Deutsche Bank, the ailing largest lender of Germany, in an interview with the prestigious newspaper ‘Die Welt’ stated that European banks must be subsidized with €150 billion in rescue money to recapitalize. Obviously, it will be the taxpayers to once more provide the capital the euro area […]

The Brits are not an exception and that’s why they voted to leave

The choice made by a bit more than half of the adult Britons to exit the European Union has already triggered financial and political turmoil. In a short while the direct impact on people’s lives will start to materialize. Let’s count the most important adverse effects: the financial markets turmoil, the international trade fallout, the […]