Macro-Financial Assistance: Europe’s way to control Ukraine?

The European Commission (EC) paid out €500 million to Ukraine on Tuesday, a financial support to be the first loan tranche of the second Macro-Financial Assistance (MFA) programme of the EU. While the crisis in Ukraine is still raging and the need for economic reforms is more crucial than ever, the EU is adding to International […]

Why Commissioner Rehn wants us all to work more for less

Yesterday Commissioner Olli Rehn speaking at the regular monthly meeting of the European Financial Affairs Council (Ecofin), which regroups the 27 EU ministers of Finance, made a completely wrong evaluation of Eurozone’s economy present status, despite some quite superficial references to the real causes of the ongoing crisis. Let’s see all that in details. His […]

European markets itchy with short-term disturbances

European markets had a very bad day yesterday, Monday 4 February. During the first hour of business bourses all over Europe, the euro included, had a discouraging start. The largest losses were monitored in the Paris stock exchange, with the CAC index losing around 3%, a large percentage change  for a prime market. In view […]

Inflation not a problem for Europe

The downward trend of Eurozone inflation was confirmed yesterday by Eurostat, the statistical service of the European Union. According to this source “Euro area annual inflation was 2.2% in December 2012, the same as in November. A year earlier the rate was 2.7%. The EU27 annual inflation was 2.3% in December 2012, down from 2.4% […]

France: New labour laws for more competitiveness

Only hours had passed, after Olli Rehn, Vice-President of the European Commission responsible for Economic and Monetary Affairs early in the morning of Friday 11 January in Brussels had accused France  of doing little to regain its lost competitiveness, and in Paris during the same afternoon three labour unions agreed with employers on a package deal […]

Draghi hands over to banks €77.7 billion more

The European Central Bank lent but in reality handed over yesterday 9 January a total amount of €77.7 billion to a number of Eurozone banks, under an arrangement called Main Refinancing Operation (MRO) at the negligible interest rate of 0.7% for a duration of 7 days. This is however the upper side of the iceberg. It’s […]

Is the EU denying its social character favouring a banking conglomerate?

It’s very annoying or probably preposterous to watch the European Commission playing with peoples’ misery. How else can one explain, that the executive arm of the EU after having observed in its yearly review on “Employment and Social Situation in 2012”, that living conditions in Europe have become unbearable for a fast increasing part of […]