Britain in chaos: May stays as Tory leader and PM but none can defuse the Brexit time bomb

Yesterday night the embattled British Prime Minister and President of the Conservative Party, Theresa May, won an intraparty no confidence vote. This was a Tory party internal procedure, triggered by members of her own parliamentary group. In the final result 200 Conservative MPs voted for May and 117 against her. In this way, she secures […]

The ‘yellow vests’ undermined Macron in France and the EU

Paris was a blockaded city this weekend. The government was forced to close down all the main tourist sites in the French capital. The Eiffel Tower, the Opera of Paris, the Louvre museum and tens of other sites which may attract the fury of the ‘yellow vest’ movement are closed and heavily guarded. Galerie Lafayette […]

Britain’s May won the first round on the Brexit agreement with the EU

Last Tuesday, the British Prime Minister Theresa May, said she has struck a Brexit agreement on the future relationship with the European Union. In reality though this is a withdrawal agreement, not a full trade or otherwise deal for the future relations between the two sides. Yesterday she won the backing of her deeply divided […]

British PM May’s Brexit proposal remains obscure while her government unravels

Only days before, Theresa May, the British Prime Minister is expected to table her proposal for a Brexit deal in the Commons, the British Parliament, and her government appears unraveling. Her transport Minister Joe Johnson resigned last week, having revived the discussion about a second referendum. He was strongly pro-remain in the June 2016 Brexit […]

EU-UK: A deal synonymous to ‘remain’, England pays the Irish price

On 24 August 2017 the European Sting’s leading article ventured that, “Brexit may finally not really happen; The Brits have second thoughts”. This prediction was based on the basics of a proposal which Theresa May had aired on Thursday 17 August of last year. On this information, the European Sting then reported that between Britain […]

Window for a Brexit deal: Brussels to think again May’s proposal

This is the first time the British Prime Minister Theresa May can tell mainland Europeans, she can guarantee her Tory conservative Party won’t topple her over her Brexit proposal. The reason is that, last week, she marked a triumph at the annual conference of the governing Party at Birmingham. Obviously, the burning subject of the […]

Who can unlock the stalled Brexit negotiations? UK Premier sticks to her proposal

The Brexit cataclysm comes to its apex. On the one side is Prime Minister Theresa May, and on the other around 50 unrepentant Brexiteer Tory MPs. The sides are about to cross swords within and without Parliament. Reportedly, May could pass her own – not so mild but negotiable in Brussels – version of Brexit […]

Draghi to lay his print on long term ECB policies prior to exiting next year

Mario Draghi, the President of the European Central Bank, was criticized by major global financial media for insisting to end the easy money policy this December. The argument is that, after ECB’s Governing Council decided at the end of the prosperous 2017 to end its extraordinary monetary policy, the world has become a riskier place. […]

Commission hardens its stance against carmakers ensuring emissions reductions targets

The car industry will be under tighter surveillance by the European Commission after 2020 when the next phase of the EU’s emission regulation will take place. All car manufacturers who do not meet the 2021 fleet CO2 emissions compliance for new passenger vehicles sold in the Old Continent will face fines of more than €14 […]

10 Downing street: Another desperate attempt to unite Britain on Brexit

Once more, the British Prime Minister, Theresa May, is trying to pool together her deeply divided cabinet and country and formulate a common proposal for a Brexit deal with the EU. In the latest development, the ‘Leave’ campaign ministers and the Bremain group are reported by 10 Downing Street to have agreed on a ‘business […]

To Brexit, or not to Brexit…rather not: 10 Downing Street, London

Almost exactly two years have elapsed after the Brits voted to leave the European Union. Tomorrow, Tuesday 12 June, the elected lower House of the Parliament, the Commons, is expected to open the way for Britain to remain in EU’s customs union and the single market for an extended period of time. Most probably, Prime […]

Brexit negotiations: Can May’s Britain bounce back?

It was last Monday when the EU and UK announced a transition agreement till the end of 2020 providing thus the opportunity for a smoother Brexit. However, there are still unsolved issues that need intensive discussions such as the border between Northern Ireland and Ireland. The business world saw this accord positively as they will […]

Is Britain to sail alone in the high seas of trade wars?

If Britain is counting on the US for a favorable bilateral trade agreement after Brexit, Donald Trump the President of ‘America first,’ rushed last Thursday to destroy that Brit dream; he announced 25% extra tariffs on steel and 10% on aluminum imports, prompting anger and retaliatory measures from America’s closest political allies, Canada and the […]

Brexit negotiations: back to square one, tougher words, no good faith

This past week, the EU and UK  Brexit negotiators’ solemn exchanges became for the first time, really aggressive and plain. Since the beginning of September 2017, during the Michel Barnier – David Davis meetings there had being difficult moments. Nevertheless, the two chief negotiators never questioned the good faith of the other side; not any […]

‘Safe Eurobonds’: a new trick to betray the south euro area countries

All along the years after the 2008-2010 financial crisis, which in the European Union took the form banking/government debt breakdowns starting with Greece, there were cries for the creation of a solid Eurozone. In every respect, these calls amounted to demands that super prosperous Germany accepts some degree of risk-sharing with the rest of the […]

Minority governments ‘à la mode’ in Europe but can they last long?

With the Italian elections set for 4 March and anticipated to produce a hang parliament, four out of the five bigger European countries will be in political limbo for a good part, if not for the entire new year 2018. France is the only exception in this Euro-plague of political uncertainty. In some cases the […]

Draghi keeps the euro cheap, helps debt refinancing, recapitalization of banks and growth

Last Thursday, the European Central Bank decided to keep flooding the Eurozone with hundreds of billions, despite strong objections coming from the frugal German-Dutch duo. Mario Draghi was adamant about that. It’s interesting to follow his response to a journalist’s remark, who reminded him that the “Dutch Central Bank President Klaas Knot said in a […]

Hazy ‘breakthrough’ saves PM May, leaves Ireland in limbo: Brexit

With only a couple of hours sleep in the very early hours of last Friday, the British PM Theresa May boarded a RAF aircraft and landed in Brussels before dawn. Weary as she was, she rushed to Berlaymont building, the EU Commission headquarters. There she met Jean-Claude Juncker the President of the European Commission and […]

EU’s unsparing question to UK: now what kind of future relations do you want?

This week, the countdown starts for Britain to offer final answers, about the three Brexit prerequisites: the divorce alimony, the future of the 4.5 million European citizens who work on the wrong side of the English Channel and the Irish border. Only then will Brussels pass to the second phase of the talks, to discuss […]

A neo-liberal toll free Paradise for the super rich and tax hell for wage earners

Despite the hullaballoo in main stream media about Queen Elizabeth’s investments in tax-havens and the implication of the US Trade Secretary Wilbur Ross in a Russia related offshore firm, the shocking revelation in the Paradise Papers is that London appears as the largest money washing machine of the world. The biggest single disclosure is that […]

The 27 EU leaders did nothing to help May unlock the Brexit talks

President Abraham Lincoln has said “when someone says it’s a matter of principles not money, then it’s a matter of money”. This famous saying was flagrantly confirmed last week in Brussels, when the 27 EU leaders – with Angela Merkel and Emmanuel Macron prominent amongst them – made it clear to Theresa May she has […]

The EU stops being soft with 10 Downing Street about Brexit

After the failed successive meetings about Brexit between the European Union and the British negotiation teams, the European Commission decided to stiffen its position. Last week EU’s executive arm issued a Press Release saying, “As it was a UK’s decision to leave the EU, it’s a UK’s responsibility to propose solutions…”. One of the most […]

Brexit talks started with a London handicap and Brussels’ sternness

Last Monday’s first meeting between the British and the EU Brexit negotiations teams gave a clear indication that London has started watering down its extra hard stance.The threat of a calamitous no-deal Brexit has visibly exited from the picture. The gratuitous cheerful and smiling David Davis, the chief Brit negotiator was confronted by the visible […]

Macron plans for Europe, Brexit and banks but vague on France

Emmanuel Macron, after yesterday’s quasi formality of the second round of the election, is the new President of France, having defeated Marine Le Pen by 65% to 35%. He commands the military forces of his country, including the not at all small nuclear arsenal of France, he appoints and dismiss the prime minister and can […]

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 […]

The UK to split if May’s hard or no-deal Brexit is pursued

The English Bexiteer bigots when lying and cajoling their compatriots in order to convince them to vote ‘leave’, forgot altogether that their country, the UK contains other nations too, who do not share their unfounded megalomaniac imperial cathexis. The Scotch and the Irish voted ‘remain’ in the 23 June 2016 referendum and it seems now […]

A hot autumn after a cool summer for Europe

This autumn Europe has everything it…didn’t need. A frozen Spain, a hot Britain who says will stay in EU’s Foreign and Security Policy, a self-centered Ireland and a revolutionary France. In the most interesting development the British Foreign Secretary, the infamous for his gaffes and lies Boris Johnson, said that despite the impending Brexit, his […]

The EU responds to US challenges by fining Apple with €13 billion

Last Tuesday, the White House and the US Treasury in concerted actions issued farfetched statements against the EU Commission. The EU executive’s decision ordered the US giant technology company Apple Inc. to pay additional taxes of up to €13 billion in Ireland. These instant and strong reactions clearly denote that the US sees this Brussels […]

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 […]