Why the merchant ships can pollute the atmosphere with CO2 quite freely

Last Wednesday the European Union Environment ministers reached an agreement… essentially to not to impose rules or duties on CO2 emissions from ships. Cunningly, the relevant Council Press release said that the 28 ministers “reached an agreement on new EU-wide rules for CO2 emissions from ships”. Until today, ocean-going shipping is the only sector of […]

The Commission neglects the services sector and favours industry

On 22 January the European Commission will present a Communication on an EU wide project, under the grandiose name of “European Industrial Renaissance”. Despite its name, the Communication doesn’t seem to have a strong connection with reality. Even the early pre-announcement of this Communication released on 20 December contains elements of futility. It says “While […]

Germany hides its own banks’ problems

The insistence of the Brussels, Berlin and Paris authorities that Cyprus is a special case and the rest of the Eurozone banking system is safe, has only superficial value. Markets do not believe that. It’s not only that the Greek, Italian or even the Spanish banking systems are in deep trouble. The problems are not […]

German banks suffer of nausea amidst rough seas

Earlier this week, Dr Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank, responsible for financial stability and risk controlling, delivered an open lecture in Hamburg, entitled “In the year 2013 – Challenges from a financial stability perspective” . Apart from the burning questions he posed for a number of Eurozone countries’ sovereign debt, […]