ECB package

The European central bank announced a multi-pronged attack on the recession on Thursday (7 May), cutting interest rates by a quarter point and unveiling plans to buy €60 billion worth of bonds held by euro area banks.
But the bank's president, Jean-Claude Trichet, was adamant that the innovative move to buy covered bonds did not constitute quantitative easing, saying the exact details on how the bank will raise the money will be announced next month. Covered bonds have traditionally been considered some of the safest corporate bonds on the market as they are backed by mortgages or public sector loans.
Independently on Thursday, the Bank of England announced it would pump a further €56 billion into the British economy through the purchase of government and corporate bonds. British interest rates remained unchanged however.
The ECB's quarter point interest rates cut bringing the bank's main lending rate to an historic low of just 1 percent. After the news was announced, many commercial banks around the euro area said they would pass the cut onto holders of tracker mortgages, helping reducing monthly mortgage repayments. Others however said they would not be passing the cut on, claiming instead that they wished to protect individuals opting to save.
Showing new signs of flexibility, Mr Trichet did not rule out the possibility of a further interest rate cut, marking a departure from previous statements in which he indicated 1 percent was the lowest the bank would go. While euro area rates have reached a new record low, they are still higher than those in the US which currently hover in a band between 0 - 0.25 percent. Both Britain and Japan also have lower rates on 0.5 percent and 0.1 percent respectively.
In a further measure, the ECB announced it would extend its lending period to banks from 6 to 12 months and would starting lending to the European Investment Bank for the first time. The European Investment Bank was set up by the 1958 Treaty of Rome, with the aim of lending money of support EU policy objectives especially the financing of projects in poorer regions. The news should bring some cheer to Eastern Europe that has been particularly badly hit by the crisis.
The comprehensive package of measures announced on Thursday is more than many analysts had anticipated and reflect the ECB's gloomy assessment of the current economic situation. Mr Trichet said the first quarter of 2009 had been "very bad" and that the bank would revise down it growth forecasts next month.
Eurobserver

Unemployment in Spain Hits 17.4%

The number of unemployed people in Spain rose to a record four million in the first quarter as the economy continued to shed jobs created over the last decade by inexpensive credit and a real estate bubble.
he Spanish unemployment rate climbed to 17.4 percent, from 13.9 percent in the final quarter of 2008, or more than twice the EU average, the National Statistics Institute said Friday. The 802,800 increase in the ranks of the jobless was the largest quarterly increase in more than 30 years.
The Bank of Spain has warned of little room for additional spending, with Spain’s public sector deficit on track to hit 8.3 percent of G.D.P. this year and its ratio of debt-to-G.D.P. set to reach 50 percent. The bank’s governor, Miguel Fernández Ordóñez has said that the social security system could go into deficit this year.
New York Times

Nationalists sweep to victory in northern Cyprus poll

Efforts to reunify the divided island of Cyprus could be complicated by an election result in the breakaway north. Turkish Cypriot nationalists have been celebrating a decisive victory in the parliamentary poll.
Their National Unity Party, led by Dervis Eroglu, has pledged to pursue talks aimed at finding a settlement. But it has advocated an outright two-state solution to the Cyprus question. And that is at odds with the federal model being discussed in peace talks that Turkish Cypriot leader Mehmet Ali Talat launched with Greek Cypriots last year.
He retains his position despite the outcome of Sunday’s vote. But his room for manoeuvre in trying to reunite the island could be limited, with his political rivals now dominant in the territory’s parliament. The internationally-recognized Greek Cypriot government in the south represents Cyprus in the European Union. Only Turkey recognises the Turkish Cypriot territory. And, as long as the island remains divided, Greek Cypriots say they will block Turkey’s admission to the EU.
Euronews.net

Hungary's economy to shrink by up to 6 pct in 2009

Hungary's new prime minister said Sunday that the country's economy would contract by as much as 6 percent this year, making new budget cutbacks and reforms necessary to keep the state budget in balance. Prime Minister Gordon Bajnai said that if the government's planned reforms and austerity measures were not introduced soon, Hungary could face a prolonged economic crisis.
A heavy reliance on foreign investors to finance the state budget, a large proportion of home- and car owners with debts in foreign currencies, especially the Swiss franc and the euro, and an engorged welfare system have made Hungary among the countries in Eastern Europe most affected the global economic slump.
Bajnai was sworn in Tuesday after parliament elected him to replace Ferenc Gyurcsany, who resigned last month amid Hungary's deepest crisis since the end of communism nearly 20 years ago. Bajnai said he was taking the job at most until elections are held in April or May 2010 and would not seek to run again for office.
While the last official forecast expected gross domestic product to fall by as much as 3.5 percent, Bajnai said the depth of the global economic crisis was having increased effects on Hungary, which relies heavily on markets like Germany for its exports. Bajnai said it was time for all Hungarians to "cry together and laugh together," by, for example, expanding the tax base and increasing the proportion of those working as opposed to living on social welfare.
Bajnai said that among the decisions taken by the Cabinet were to lower payroll taxes to first preserve jobs and later hopefully increase the number of workplaces, raise the value-added tax to 25 percent from 20 percent, and temporarily eliminate extra pension payments and automatic annual bonuses for public employees.
He also announced plans to raise the retirement age gradually to 65 from 62, freeze some social welfare payments, eliminate energy subsidies for homeowners, introduce a real estate tax burdening especially the more valuable properties, lower expenditures on state-owned media, reform and cut subsidies for agricultural producers and simply the tax code.
The government also was planning to expand the personal income tax brackets so that around 90 percent of taxpayers would fall into the lowest category, the prime minister announced. Bajnai said his "crisis-management" government's aim was to help Hungary soon reach an annual growth rate 2 percentage points above the European Union average and meet the economic criteria needed to change the currency from the forint to the euro.
AP

Moldova accuses Romania of staging riots

Moldovan president Vladimir Voronin has blamed EU neighbour Romania for staging post-election riots and announced he would expel Bucharest's ambassador and reintroduce visas for Romanians. Some 2,000 protesters were gathering for the third day on Wednesday (8 April) in Chisinau, after police took over the control of the parliament and presidential palace a night before.
Mr Voronin decided to expel the Romanian ambassador and reintroduce mandatory visas for his neighbours, despite a visa facilitation agreement with the EU. Under the agreement, Chisinau lifted visas for all EU member states at the end of 2007, including for the EU's newest members Romania and Bulgaria. Moldovan authorities also interrupted the broadcasting of Romanian TV channels on cable networks, which were the only ones reporting live on the events.
Russian support for the current government
Russian interests are still very much present, as the separatist region of Transnistria, in Moldova's eastern part bordering Ukraine, is home to some 2,000 Russian troops and military equipment. Russia's foreign ministry, in a statement on Wednesday, said the riots were a plot aimed at undermining Moldova's sovereignty and pointed the finger to forces which favour a reunion with Romania. Russian President Dmitry Medvedev, who had earlier congratulated Mr Voronin on his party's election win, called for a speedy and calm resolution of the crisis.
Some representatives of Moldovan civil society were disappointed at the EU's reaction and the OSCE judgement that the Sunday elections were free and fair.
"The declarations of OSCE observers and EU officials calling the elections fair proved that the EU feels nausea about the Republic of Moldova. These statements untied the hands of the Voronin regime," Oazu Nantoi from the Institute for Public Policy, a Chisinau-based think-tank, told EUobserver. He said that the elections were grossly manipulated by the state institutions, who only serve the Communist party and its leader. Mr Nantoi, who participated in the demonstrations from the first day on, said that on Monday, people gathered spontaneously, protesting peacefully about the Communist leadership.
Euobserver

Czech MPs oust government in vote

The Czech Republic's centre-right minority government has lost a vote of no-confidence midway through the country's six-month EU presidency. Four rebel MPs voted with the opposition Social Democrats and Communists against PM Mirek Topolanek.

Mr Topolanek said he would step down, but correspondents say it is unclear how long he will remain in the post. The European Commission said it was confident the Czech Republic could continue its EU role effectively. Social Democrat leader Jiri Paroubek said ahead of the vote that the government could "complete the Czech EU presidency or its substantial part".

Tuesday's no-confidence vote in the lower house followed accusations that one of Mr Topolanek's advisers had attempted to pressure its public TV channel into dropping a programme critical of a former Social Democratic MP who had decided to back the coalition.

The BBC's Rob Cameron in Prague says this surprise result, which threw observers completely off guard, could have far-reaching consequences beyond the country's borders. In addition to chairing the European Council, the Czech Republic is also in the middle of ratifying the Lisbon Treaty and is in talks with the United States on placing a radar base on Czech soil. All these important foreign policy initiatives are now thrown into doubt, our correspondent adds.

(BBC)

Hungary Seeks New Premier to Fight Economic Crisis

Hungary’s ruling Socialists began hunting for a new premier to tackle the economic and financial crisis after Ferenc Gyurcsany said he will quit with the nation mired in its worst recession in at least 16 years.

His successor, who will need opposition support, would be elected on April 14 by parliament, Gyurcsany, who heads a minority administration, said yesterday. Talks with rival parties are under way. The new Cabinet will have a year to repair Hungary’s finances before the next scheduled elections.

Gyurcsany told his party’s congress on March 21 that he is willing to resign to allow the formation of a “new government with the leadership of a new prime minister.” He didn’t name a preferred successor. Gyurcsany told parliament today that his decision to quit as premier was “final and irrevocable.”

Even as he presided over a reduction of the budget deficit from 9.2 percent of GDP in 2006 to about 3.3 percent last year, Gyurcsany was criticized in February by some opposition parties and the central bank for his proposed 900 billion forint ($4.1 billion) tax shuffle to boost growth. Critics said more spending cuts were needed to stabilize the economy in the short run and boost growth in the long run.

The Socialist Party is less than half as popular as its biggest rival. Backing for the government started slipping when it introduced austerity measures to close a budget gap in 2006. The resulting economic decline was worsened by the global crisis, forcing the country to seek international aid. The party had 23 percent support last month, the lowest in 10 years, compared with 62 percent for the largest opposition party, Fidesz, pollster Median said on its Web site on March 18. Gyurcsany’s popularity fell to 18 percent, making him the most unpopular premier since communism. The poll of 1,200 people has a margin of error of 2 to 6 percentage points.

(Bloomberg)

Jóváhagyták az 5 milliárd eurós beruházási csomagot

Három hónapos huzavona után tegnap este az uniós csúcson a tagállamok vezetői megegyeztek a források felhasználásának feltételeiről, és jóváhagyták a Bizottság 5 milliárd eurós beruházási programcsomagját. A csomag elsősorban energiaügyi és távközlési beruházások finanszírozásával kívánja élénkíteni a gazdaságot a tagállamokban.

„Sikerült közös nevezőre jutnunk az energiaügyi, távközlési és vidékfejlesztési beruházásokat tartalmazó infrastruktúra-fejlesztő csomag összetételéről” - nyilatkozta Mirek Topolanek cseh miniszterelnök a tárgyalásokat követő sajtótájékoztatón.
A megegyezés úgy születhetett meg, hogy a vezetők elfogadták Németország arra irányuló kérelmét, hogy a finanszírozás csak két évig tartson. A kész megállapodás szövegébe beültetendő úgynevezett „naplemente záradék”, azt hivatott szolgálni, hogy azok a projektek, amik 2010 végéig nem állnak készen a megvalósításra, már ne jussanak uniós pénzhez. A nagyszabású uniós gazdaságélénkítési csomag legfontosabb elemeit az előző költségvetési évben fel nem használt uniós pénzekből finanszírozzák.
A listán négy, Magyarországot közvetlenül érintő beruházás szerepel, az eddigi egyeztetések nyomán szlovákiai, romániai, és horvátországi gázhálózat-összeköttetéseinkre valamint a Bécs és Győr közötti elektromos rendszer korszerűsítésére kapnánk uniós támogatást, így az egyik legnagyobb kedvezményezetté válva. A lista tartalmazza a Nabucco gázvezeték-beruházás támogatását is, azzal a feltétellel, hogy a támogatandó fázisok a jövő év végéig a megvalósítás szakaszába lépnek.
Euvonal

Elhagyják az Európai Néppártot a toryk

A brit Konzervatív Párt tegnap hivatalosan is megerősítette kilépési szándékát a legnagyobb jobbközép pártokat tömörítő európai parlamenti frakcióból, az Európai Néppártból. Erre valószínűleg még az EP-választások előtt sor kerül, és júliusban valószínűleg új frakciót alapítanak az EP-ben, Európai Konzervatívok néven.

A BBC beszámolója szerint a toryk brit árnyékkormányának EU minisztere, Mark Francois és külügyminisztere, William Hague, valamint európai parlamenti vezetőjük, Timothy Kirkhope tegnap közösen látogatta meg Joseph Dault, az Európai Néppárt és Európai Demokraták elnökét Strasbourgban, hogy személyesen tájékoztassák terveikről.
A toryk hazai vezetője, David Cameron már a 2005-ös pártelnöki választáson azzal kampányolt, hogy megválasztása esetén kivezeti az – igencsak euroszkeptikus, de nem feltétlen integráció-ellenes szavazótáborral rendelkező - pártot a kereszténydemokrata többségű, meglehetősen föderalista nézetű képviselőcsoportból. Az képviselők európai párthoz fűződő viszonyát végül a Lisszaboni Szerződés körüli ellentmondás mérgesítette el annyira, hogy a britek magukra vállalják a kilépést követő jelentős befolyásvesztést az európai döntéshozatalban.
Euvonal

Újabb kamatcsökkentés

Az Európai Központi Bank csütörtökön (március 5.) fél százalékponttal, 1,5 százalékra csökkentette irányadó kamatát, mely az euró 1999-es bevezetése óta a legalacsonyabb alapkamat.
Múlt év októbere óta a tegnapi kamatdöntéssel együtt az EKB már 2,75 százalékponttal szállította le alapkamatát annak érdekében, hogy a pénzügyi válság miatt lelassult európai gazdaságot élénkítse. A döntést követő sajtóértekezleten Jean-Claude Trichet, az EKB elnöke nem zárkózott el további kamatvágástól sem, de megerősítette korábbi véleményét, miszerint a zérókamat-politkát nem tartja előnyösnek. Az EKB a 2009-es és 2010-es infláció alakulását a visszaeső fogyasztói kereslet és a csökkenő árak miatt két százalék alá várják.

Germany rejects bailout plan for east EU nations

Germany rejected appeals Sunday for a single multibillion euro (dollar) bailout of eastern Europe, even after Hungary begged EU leaders not to let a new "Iron Curtain" divide the continent into rich and poor.

The swift, strong comments by German Chancellor Angela Merkel dampened hopes that leaders at Sunday's European Union summit could forge a unified stance to tackle the worsening economic crisis. As Europe's largest economy, Germany has been under rising pressure to take the lead in rescuing eastern EU members, but Merkel insisted that a one-size-fits-all bailout was unwise. "Saying that the situation is the same for all central and eastern European states, I don't see that," said Merkel, adding "you cannot compare" the dire situation in Hungary with that of other countries.

Hungarian Prime Minister Ferenc Gyurcsany, saying the credit crunch was hitting the eastern members hardest, had called for an EU fund of up to euro190 billion ($241 billion) to help restore trust and solvency in those nations. "We should not allow that a new Iron Curtain should be set up and divide Europe," Gyurcsany told reporters. "In the beginning of the nineties we reunified Europe, now the challenge is whether we will be able to reunify Europe financially."

EU nations are all grappling with a worsening recession, compounded by a severe credit crunch that has left many EU countries looking ever more inward to protect jobs and companies from international competition. Those policies are now undermining the open market cornerstone on which the EU is founded.

Ahead of the summit, the leaders of nine countries — Poland, Hungary, Slovakia, the Czech Republic, Bulgaria, Romania and the three Baltic states — forged a common stand to pressure richer members in the 27-nation bloc to back up vague pledges of support with action. Polish Prime Minister Donald Tusk said the nine leaders called for "a spirit against protectionism and egoism."Hungary, Poland and the Baltic countries of Estonia, Latvia and Lithuania also want the EU to fast-track their bids to join the euro-currency, which could offer them a stable financial anchor. Latvia's government has already collapsed amid the economic fallout. Other EU members, like Sweden, want to coordinate a Europe-wide bailout plan for car producers. Prime Minister Mirek Topolanek of the Czech Republic, which holds the EU presidency, has called on his counterparts to act together.

A draft summit conclusion centered a commitment to "make the maximum possible use" of the EU's cherished free market "as the engine for recovery".
The crisis has sorely tested solidarity among EU nations. The Czech Republic has accused France of trying to protect its local car plants at the expense of foreign subsidiaries, while Germany rejected earlier calls to help bail out economies in Ireland, Greece and Portugal.

Sunday's talks are meant to restore a unified purpose and help prepare for the April 2 Group of 20 nations summit in London. Once-booming east European economies have been hit hard by the economic downturn. As cheap credit dried up their export markets shrank, causing eastern currencies to sink and triggering more financial turmoil.

Gyurcsany said eastern EU countries could need up to euro300 billion ($380 billion), or 30 percent of the region's gross domestic production this year. He warned that failure to offer bigger bailouts "could lead to massive contractions" in their economies and lead to "large-scale defaults" that would affect Europe as a whole. It could also trigger political unrest and immigration pressures as jobless rates soar, he said. EU governments have already spent euro300 billion ($380 billion) in bank recapitalizations and put up euro2.5 trillion ($3.18 trillion) to guarantee loans of many banks in the EU and neighboring states.

On Friday, the European Bank of Reconstruction and Development, the European Investment Bank and the World Bank said they will jointly provide euro24.5 billion ($31.1 billion) in emergency aid to shore up the battered finances of eastern European nations.

Associated Press

Latvian government falls, president seeks new PM

Latvia's four-party ruling coalition collapsed on Friday and the president called for talks to forge a new government to tackle a deepening economic crisis.
The coalition's fall, the second European government to succumb to the financial crisis, adds to the economic problems of the small Baltic state, which last year had to take a 7.5 billion euro ($9.43 billion) IMF-led rescue loan last year.
Political and social tensions exploded in January into a riot, though there has been little sign of a repeat in Latvia, a European Union and NATO member since 2004. The political crisis struck as a team from the International Monetary Fund visited Latvia.
Reuters

Europe’s Economy Contracts Most in at Least 13 Years

Europe’s economy contracted the most in at least 13 years in the fourth quarter, compounding pressure on the European Central Bank to reduce interest rates to the lowest ever next month.
Gross domestic product in the euro region declined 1.5 percent from the previous three months, the European Union’s statistics office in Luxembourg said today. That was more than the 1.3 percent economists expected and the most since euro-area GDP records began in 1995. From a year earlier, GDP fell 1.2 percent in the fourth quarter, the only full-year drop on record.
Europe recorded the biggest trade deficit in 2008 since the euro’s introduction 10 years ago as higher oil prices boosted energy costs and the global financial crisis curtailed exports.
The region’s trade deficit of 32.1 billion euros ($40.5 billion) compared with a surplus of 15.8 billion euros in 2007, the European Union’s statistics office in Luxembourg said today.
The spreading of the global recession is curbing demand for European products, adding to pressure on the economy, which shrank the most in 15 years in the fourth quarter. Volkswagen AG, Europe’s largest carmaker, said deliveries fell about 20 percent last month and that sales in the export markets of Brazil, Russia, India and China have been “particularly hit” by the credit freeze.
Exports to the U.S., the second-biggest buyer of euro area goods, fell 5 percent in the 11 months through November from a year earlier. Sales to the U.K., the main destination for the region’s products, dropped 3 percent. Detailed data are published with a one-month lag.
Sales to China rose 10 percent in the 11-month period, slower than the 15 percent pace recorded in the first half of the year. Exports to Russia grew 16 percent, compared with 20 percent in the first half.
“In past years, investments in China, India and the Middle East led to strong demand for European capital goods,” said Carsten Brzeski, an economist at ING Groep NV in Brussels. “That demand has collapsed” and “will continue in the next months if you look at the new orders.” Bloomberg

A klinikai halál állapotában Lettország

Kutyaszorítóban a lett kormány, aki a pénzügyi válság kellős közepén hiába ütött nyélbe az EU-val és a Világbankkal egy szerződést 7,5 milliárd eurós hitelről, annak feltételéül szabott megszorítások miatt mindennaposak a tüntetések, a gazdasági zsugorodás idén kétszámjegyű lehet, és még jövőre is folytatódni fog a visszaesés.

Ivars Godmanis lett miniszterelnök és kormánya túlélte a bizalmi szavazást, miután a gazdatüntetések miatt lemondott mezőgazdasági minisztere. Az ország 1991-es függetlenné válása óta a legsúlyosabb helyzetben van. A gazdák traktorokkal vonultak fel Rigában, azt követelve, hogy részesítsék őket kárpótlásban jövedelmük csökkenése miatt.

A lett fővárosban egymást követik a tüntetések, az emberek a kormányt tartják felelősnek a válság nem megfelelő kezeléséért. A baj csak az, hogy senki sem tudja, mit lehet tenni. Rigának sikerült egy 7,5 milliárd eurós Világbank-EU hitelt kapni a stabilizáláshoz, de ennek feltételei - az adók emelése és a költségvetési kiadások drasztikus csökkentése - elfújták a kormány népszerűségét. Az áfát 18-ról 21 százalékra vitték fel.

Az éveken át Európa leggyorsabban növekvő gazdaságai közé tartozó Lettország a túlhevülés határán járó fejlődés után zuhant a mélybe. A Svedbank, a baltikumi térség legnagyobb hitelezője szerint idén valószínűleg 10 százalékkal csökken a bruttó hazai termék, és még jövőre is 2 százalékos zsugorodással számolnak. Ilmars Rimsevics, a Bank of Latvia elnöke szerint az ország a klinikai halál állapotában van, amikor csak néhány perc lehetőség van az újraélesztésre. Televíziós interjújában kifejtette, hogy ennek eszköze csak a hitelezés jelentős élénkítése lehet.

index.hu

Democrates' approach to EU

"I don't want to be too proud, you know, to be chest-beating about that, but I think the United States is the only nation that can lead the world..."
Al Gore
Link

Gazdaságélénkítő csomag

Az Európai Bizottság ma ismertette, hogy milyen projektekbe kíván beruházni a korábban meghirdetett gazdaságélénkítési terv keretében 2009 és 2010 között. A testület erre a célra ötmilliárd eurót különített el, melyből 250 millió euró jut a Nabuccóra is.

Az Európai Bizottság elsősorban a stratégiailag fontos energia- és távközlési infrastruktúra megerősítésére szánja ezt az összeget, melyek rövid távon is fontos ösztönző erőt jelentenek az uniós gazdaság számára. Az intézkedéscsomag valamennyi tagállamra kiterjed majd.

José Manuel Barroso, a Bizottság elnöke így nyilatkozott: "Elkészült azoknak a konkrét projekteknek a listája, amelyekre ötmilliárd eurót csoportosítunk át az uniós költségvetésből megtakarított forrásokból. Le kell vonnunk a nemrégiben bekövetkezett gázellátási válság tanulságait, és nagy összegeket kell fektetnünk az energetikába. Ezenkívül ösztönöznünk kell az európai gazdaságot, és a vidéki településeken is lehetővé kell tennünk az infosztrádák működését.”

A testület szokásos heti ülésén született döntés szerint a Bizottság 250 millió euróval támogatná a Nabbuco projektet – a tegnap véget ért, budapesti Nabucco-konferencián a résztvevők 200-300 millió eurót „kértek” a testülettől a prjekt elindításához.

Brüsszel 30 millió euróval támogatná a Románia és Magyarország közti gáz-összeköttetést, 25 millió euróval pedig a Nagykürtös (Velky Krtis) és Balassagyarmat közti szlovák-magyar vezetéket is.

A gázellátórendszerek összeköttetésére a testület összesen egymilliárd eurót fordítana a 27 tagállamban. Az elektromos rendszerek hálózati összeköttetéseinek fokozására 700 millió eurót szánnak.

Félmilliárd euró juthat szélerőműrendszerek fejlesztésére, ha a javaslatot a tagországok kormányai is jóváhagyják. 1,2 milliárd euróval a széndioxid megkötését és tárolását szolgáló beruházásokhoz járulna hozzá.

A távközlés területén elsősorban a szélessávú internetezést biztosító infrastruktúra kiépítését ösztönözné a bizottság, míg félmilliárd euró jutna az agrárreformok tavalyi felülvizsgálata során megállapított új kihívások kezelésére.

A Bizottság az energiapolitika 2008. novemberi, második stratégiai felülvizsgálatában hangsúlyozta az energiabiztonság kihívását. A nemrégiben bekövetkezett gázellátási válság még inkább felhívta a figyelmet ennek fontosságára. A jelenlegi gazdasági és pénzügyi viszonyok között különösen nagy nehézségekbe ütközik, hogy beruházót találjanak a projektekhez. Ezen kíván lendíteni az Európai Bizottság mostani javaslataival, amelyek hozzájárulnak az uniós energiahálózati összeköttetések hiányosságainak a felszámolásához is.

Az európai gazdaságélénkítési terv célul tűzi ki, hogy a szélessávú hálózatok fejlesztése révén 2010-ig elérjék a teljes, 100%-os nagysebességű internetes lefedettséget. A javaslat mellékletben megtalálható a Bizottság által előterjesztett energetikai infrastrukturális projektek teljes körű felsorolása.

Euvonal

Jelentős európai recessziót vár az unió

Idén meredeken, 1,8 százalékkal csökken az Európai Unió gazdasága, az eurót használó országoké pedig 1,9 százalékkal átlagosan - derül ki az Európai Bizottság hétfőn Brüsszelben kiadott gazdasági előrejelzéséből.

Az adatok szerint az unióban minden bizonnyal emelkedik a munkanélküliség és a költségvetési hiány, de csökken az infláció. A bizottság emellett súlyos bizonytalanságokra is int a közeljövőre nézve.

Magyarországon idén 1,6 százalékos esést jósol Brüsszel, míg jövőre kerek egy százalékos növekedést. Az államháztartás GDP-hez mért hiánya idén 2,8 százalékos lesz az előrejelzés szerint. A brüsszeli bizottság a nemzetközi pénzügyi, illetve gazdasági válság miatt döntött úgy, hogy a szokásosnál jóval előbb, május helyett már év elején készít egy gazdasági előrejelzést. Ebben tovább rontotta tavaly őszi, már eleve borús várakozásait.

Megállapította, hogy a korábban vártnál erőteljesebb lassulásra kell számítani, de 2009 vége előtt ismét növekedés várható. 2010-ben az idei 1,8 százalékos GDP-csökkenés után már 0,5 százalékos emelkedés várható Brüsszel szerint. Mindez a fokozódó pénzügy válság reálgazdasági hatásainak, a világkereskedelem és a világ össztermelése ebből következő súlyos visszaesésének, és egyes országokban a lakáspiaci korrekciónak tudható be. Az állami kiadások és állami beruházások azonban enyhíthetik ezt a problémát, és az inflációs nyomás enyhülése is hozzájárul a magánfogyasztás serkentéséhez - derül ki a témáról kiadott közleményből, amely azt is megjegyzi, hogy "a tagállamok által 2008 augusztusa óta bejelentett, saját hatáskörben hozott pénzügyi intézkedések körülbelül háromnegyed százalékponttal enyhítik a GDP növekedésének idei visszaesését".

A gazdaság hanyatlása az előrejelzési időszak során lényeges hatással jár majd a foglalkoztatásra és az államháztartásra - vélte Joaquín Almunia gazdasági és pénzügyi biztos. Hangoztatta azt is, hogy "a bizalom helyreállítása érdekében fontos, hogy a tagállamok kifejezett kötelezettséget vállaljanak a megbomlott államháztartási egyensúly helyreállítására amint a gazdaság visszatér a rendes kerékvágásba, mert így biztosítható az államháztartás közép- és hosszú távú fenntarthatósága".

Az előrejelzés szerint tavaly a növekedés a 2007-ben mért közel 3 százalékról 1 százalék körüli értékre csökkent az EU-ban és az euróövezetben egyaránt. Almuniáék szerint a tavalyi utolsó negyedévben világszerte jelentősen visszaesett a gazdasági tevékenység, és ez a tendencia rövid távon valószínűleg folytatódni fog. Tavaly a második félévben az euróövezet fennállása óta először süllyedt technikai recesszióba.

Az idén az EU-ban előreláthatólag 3,5 millió munkahely szűnik meg Brüsszel szerint. A munkanélküliségi ráta 8,7 százalékra nőhet az EU-n és 9,25 százalékra az euróövezeten belül, és a munkanélküliség további emelkedése várható 2010-ben. A rosszabb kilátások az államháztartási egyensúlyt is megviselik. Az EU tagállamainak államháztartási hiánya az idén megduplázódhat, 2009-ben elérve a 4,5 százalékos átlagértéket (az euróövezetben 1,75 százalékról 4 százalékra nőhet).

Az inflációs nyomás viszont gyorsan mérséklődik a prognózis szerint, a bizottság jelentős mértékben lefelé módosította őszi előrejelzéseit. Az EU tagállamaiban tavaly mért 3,7 százalékról (3,3 százalék az euróövezetben) idén 1,2 százalékra (az euróövezetben 1,0 százalékra) csökken. Az előrejelzés szerint Magyarországon idén 2, jövőre, 0,4 százalékkal romlik a foglalkoztatás, a munkanélküliek aránya 8,8, illetve 9,1 százalék lesz. Az infláció idén 2,8, jövőre 2,2 százalék körül alakul. Az államháztartás hiány a GDP-hez viszonyítva idén 2,8, jövőre 3 százalék lehet Magyarországon, míg a belső államadósság 73,8, illetve 74 százalékra nőhet.

Figyelő

Euro in Slovakia

Ten years after the original 11 countries in western Europe set up a common currency, the monetary union is due to enlarge to Slovakia, as its 16th member state and the first in central Europe to switch to the euro.

"I'm sure this event will trigger a lot of positive expectations and positive results for the Slovak economy and citizens," EU economy and monetary affairs Joaquin Almunia told journalists ahead of 1 January.

"The Slovak economy was able to fulfil al the conditions required to join the euro less than five years after the country entered the EU and this had required a political will and a very dynamic economy. Now it's the time to reap the benefits of sharing the same currency," with 325 million Europeans in the 15-strong eurozone.

Who comes next?

As a significantly poorer country having transformed itself from a centrally-planned economy to a market economy, Slovakia's accession to the EU's monetary union has been watched closely as a test case for other states hoping to join. "Slovakia will be the key example in the future when decisions on future entrants are made because if the country functions smoothly, it will be a good argument for the countries in the same region," Zsolt Darvas, from the Brussels-based Bruegel think-tank told EUobserver.

He pointed out that Poland and Hungary are the most likely to join after their Visegrad neighbour, as the governments of both countries have indicated they would like to enter the so-called European Exchange Rate Mechanism (ERM II), a fixed exchange rate waiting room for the euro.

As the candidates to join the European currency need to remain in the system for a minimum of two years, Mr Darvas argues that both Poland and Hungary could join the euro in three years from now. While Poland currently meets all necessary euro entry criteria, albeit with slightly high inflation, Hungary would have a problem with a public debt, currently at the level of 66 percent of GDP, above the eurozone's threshold of 60 percent.

The Czech Republic would also make it to the euro club without major problems according to several analysts. But just as in the UK, where some insiders say the government is considering such a possibility, the euro remains a matter of political division.

The Baltic states of Estonia, Lithuania and Latvia have all joined ERMII but are currently facing problems due to the global financial crisis, so their original plans to adopt the euro in 2009 or 2010 have been postponed until an unknown date.

On the other hand, Denmark might be the next western European country to shift to the common currency area - also as an indirect consequence of the credit crunch and economic recession.

Euobserver

Did Sarkozy's stint change the EU for good?

IHT

Six months after France illuminated the Eiffel Tower in a deep cobalt blue to open its European Union presidency, the Czech Republic - which takes over the job in January - asked privately if the French president, Nicolas Sarkozy, would take part in a handover ceremony.

Sarkozy, came the polite but firm reply, does not want to be the person who switches off the giant neon EU symbol on the famous Paris landmark. The anecdote, relayed privately by an informed official, is telling. With his hyperactive political style, Sarkozy has dominated the European stage at a time of crisis and is making no secret of his reluctance to leave the limelight. "I have loved this job," Sarkozy told the European Parliament in Strasbourg on Tuesday in his farewell presidency appearance there.

What is less clear is whether his eventful six-month presidency has fundamentally changed the EU - and French attitudes to it - or simply given a restless leader a tool to burnish his image at home and abroad.

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  Few dispute that the French presidency had its successes. Although Moscow failed to implement the letter of a cease-fire in Georgia negotiated by Sarkozy, it did enough for the EU to resume formal partnership talks with Russia, the bloc's vast neighbor, key energy supplier and trading partner.


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  Then, as the international economic crisis took hold, Paris filled part of the vacuum left by the outgoing U.S. administration, helping convene a meeting of the most powerful global economies and coordinating a European response.


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  And last week Sarkozy persuaded all 27 EU nations to sign up to binding laws on how to cut carbon dioxide emissions by 20 percent by 2020. Despite making compromises to industry, this still left Europe in the vanguard of efforts to curb global warming.


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  Sarkozy's leadership has helped to reconnect the French with the EU, just three years after France - a founding member of the bloc - shocked itself and others by rejecting the EU's constitution in a referendum. In a BVA poll published Tuesday, 56 percent of the French approved of Sarkozy's EU presidency, while his domestic policies remain deeply unpopular.


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  Sarkozy has also surprised some by forging an alliance with Gordon Brown, the British prime minister, even inviting him to a meeting of countries that use the euro, which Britain has shunned.


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  Not everyone is pleased of course. Relations between Paris and Berlin are frosty. At a meeting in London with Brown two weeks ago, Sarkozy made clear his exasperation with the German chancellor, Angela Merkel, for her reluctance to bolster government spending further to combat the slowdown, according to one diplomat who attended the meeting but is not authorized to speak about it.

"For six months he felt like the king of the world - Bush was a lame-duck president and he was in the driving seat of the EU," Moïsi said. "Now Obama is coming in and he is no longer president of Europe. He will not accept such a demise."

In some ways, Sarkozy has already forged a legacy. By lobbying for the G20 meeting in Washington in November and setting the stage for a follow-up in London in April, he has created a precedent that his successors cannot ignore. If the global economy continues to deteriorate, his ability as crisis manager might be called on once more

Sarkozy's main challenge...will be to maintain good relations with Britain, repair ties with Germany and then establish a close link with Obama. "Managing that equation will be key to his ability to remain influential beyond the presidency."

There is, however, a debate over what lessons to draw from the last six months. One of the deals struck under the French EU presidency was to pave the way for a second Irish referendum on the Lisbon Treaty - an accord meant to strengthen the EU as a world player that was rejected by the Irish in a first referendum last June.

Beyond squabbles, the main question, observers say, is whether recent crises suggest that Europe can operate as a bloc to balance the rise of the growing economic powers in Asia. Persistent divisions have weakened the EU's hand with Moscow. Tensions between France and Britain, and between France and Germany, have strained the EU's response to the economic crisis. In Paris, diplomats are optimistic. As one senior official put it Tuesday: "The French presidency has shown that when Europe wants, it can have a voice."

New Romanian government

Emil Boc is the new Romanian prime minister. He has been sworn into his role. He is the youngest ever Romanian leader and will lead a coalition of the liberal and social democrats. Boc was the second choice of President Traian Basescu when Theodor Stolojan turned him down last week.

President Basescu said: “A compromise was needed in order to get through a difficult period, and I want to believe that this government will fulfill its mission until 2012.”

Boc says his goal is the stability of the country, to sort out the economic crisis, tighten state budgets, and introduce reforms, draconian ones if necessary. Boc says the aim is to get Romania out from under the watchful eye of the EU while continuing the drive for membership of the Eurozone. (Euronews)

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Romania's parliament approved a new government on Monday after the prime minister designate vowed to cut public spending by 20 percent to try to deal with a looming economic crisis. Emil Boc's center-left government was approved in a 324-115 vote by parliament, after the two main coalition partners won 70 percent of seats in Nov. 30 elections.

"The crisis is not an excuse to not have reforms," Boc said before the vote. "We will have a measured government that will reduce costs by 20 percent." The new government "has two messages," he said: "More work and (we will use) the same cars, same offices and the same sofas."

The government was sworn in late Monday by President Traian Basescu. Boc, 42, heads the Democratic Liberal Party, which will control the economy, defense and finance ministries.

The other main coalition party is the Social Democratic Party. Its leader, Mircea Geoana, is the new head of the Senate. The new head of the lower chamber of deputies is a former Miss Romania, Roberta Anastase of the Democratic Liberal Party. (AP)