Thursday, April 29, 2010

Germany says Europe needs its own rating agency

Germany's Foreign Minister says the European Union should create its own rating agency because of the financial crisis. Guido Westerwelle on Thursday told "WAZ" newspaper group the EU "should counter the work of rating agencies with efforts of its own."
Westerwelle said rating agencies must not develop, sell, and rate financial products all at the same time. He said such conflicts of interest must be ruled out.
Peter Bofinger, a member of the government's independent economic advisory panel, criticized Standard & Poor's move to lower the ratings for Greece and Portugal. The economist told the "Welt" newspaper that "we should not make the welfare of Europe dependent on rating agencies," pointing to their failure to spot problems ahead of the financial crisis.
AP

Thursday, April 22, 2010

EU Sovereign Debts Exploded In 2009

Recent predictions by ECB staff that warned of 16 years of pain before sovereign debt levels in the Eurozone would recede to the treaty level of 60% are getting backed up by the accelerating trajectory of the European debt pile-up, new Eurostat data shows. Desperately trying to immunize their countries against the Eurozone recession 2009, governments have embarked on a spending spree that resulted in an increase of public debts by a breathtaking 225% in 2008 and and an equally horrendous 211% in 2009, when they took on new debts of € 565 billion after €181 billion a year earlier.
So far these new stones around taxpayer's necks have not yet resulted in more than a modest bounce back in some industries that may find an explanation in the most recent decline in construction activity.
More...

Tuesday, April 20, 2010

Greek Debt Costs Climb as Talks With IMF, EU Begin

Greece took a further battering from financial markets Wednesday as government officials began talks in Athens with the International Monetary Fund and the European Union over conditions for a package to help rescue the country from its debt crisis. Interest rates on Greek 10-year bonds rose above 8%, the highest since Greece joined the euro in 2000, and the euro itself weakened.
Meanwhile, other bond markets around Europe displayed nervousness following a warning from the IMF that Greece's government-debt troubles could spread to other nations. Big budget deficits that have followed the economic slowdown and financial crisis promise a glut of government bonds in all major Western economies.
Meanwhile, other bond markets around Europe displayed nervousness following a warning from the IMF that Greece's government-debt troubles could spread to other nations. Big budget deficits that have followed the economic slowdown and financial crisis promise a glut of government bonds in all major Western economies.
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The IMF said Greece's troubles could represent a new phase of the global financial crisis. "In the near term, the main risk is that, if unchecked, market concerns about sovereign liquidity and solvency in Greece could turn into a full-blown sovereign-debt crisis, leading to some contagion," the IMF said in its World Economic Outlook published Wednesday.
In a separate report Tuesday, the IMF said that Portugal, and to a lesser extent Spain and Italy, were likely to suffer most from Greece's debt problems. European banks are big holders of Greek debt and would also suffer knock-on effects if Greece couldn't pay its way.

Monday, April 19, 2010

Bizottság vizsgálja a vulkánkitörés gazdasági hatásait

Az Európai Bizottság felméri a vulkánkitörés hatásait az európai gazdaságra - közölte José Manuel Barroso, az Európai Bizottság elnöke. A vulkánkitörés miatt számos uniós esemény megrendezése bizonytalan.
Barroso felkérte az uniós közlekedési biztost, hogy koordinálja az Európai Bizottság ezzel kapcsolatos lehetséges válaszait, és teljeskörűen értékeljék a vulkáni hamufelhő gazdasági hatásait, különösen a légi iparra gyakorolt hatásokra tekintettel. Barroso szerint fontos, hogy minden szóba jöhető intézkedést európai szinten hangoljanak össze.
A vulkáni hamufelhő miatt számos uniós rendezvény megrendezése kétségessé vált...

Saturday, April 10, 2010

EU mourns sudden death of Polish leader

The EU leadership remembered Polish President Lech Kaczynski on Saturday as a patriot to his nation, putting aside his eurosceptic views in the aftermath of his death in an air crash.
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Herman Van Rompuy, the former Belgian prime minister who is the European Union's first president, said the news of the crash in Russia that killed Kaczynski and a host of other Polish officials had left him "deeply upset".

Friday, April 2, 2010

EU to train Somali troops

The European Union has given the go-ahead for a military mission in Somalia, which reportedly aims to train Somali forces against local fighters.
The training mission known as 'EUTM' is led by Spain and involves around 100 troops plus several dozen additional staff. Germany and France have already committed troops to the mission and Britain is expected to participate.
The EUTM is expected to train around 2,000 Somali troops in coordination with international partners, in particular the United Nations, the African Union Mission in Somalia and the United States.
It is to start operation on April 7, mainly in Uganda, where some Somali forces are already stationed.
The goal of the mission is to strengthen Somalia's transitional government. However some members of the 27-nation bloc believe that without a long-term financial and political commitment, training Somali troops and providing them with guns could cause more problems than it will solve.
Somalia has had no effective government for 19 years. At least 21,000 Somalis have been killed since the start of 2007 due to ongoing violence and political conflicts in the country, 1.5 million have been uprooted from their homes, and nearly half a million are refugees in other countries in the region.

Thursday, April 1, 2010

Feloszlik a Nyugat-Európai Unió

Az Európai Unió 10 tagállama tegnap (2010. március 31.) közös közleményben jelentette be, hogy feloszlatják az európai védelempolitika egyik úttörő intézményét, a Nyugat-Európai Uniót.
A nyilatkozat felhívta a figyelmet arra, hogy az Európai Unió reformszerződésének, a Lisszaboni Szerződésnek a tavaly december elsejei hatályba lépésével új szakasz kezdődött az európai biztonság- és védelempolitika szempontjából. Az Európai Unióról szóló szerződés 42.7 cikke ugyanis kimondja, hogy ha az EU valamely tagállamának területét fegyveres agresszió éri, akkor a többi EU-tagállamnak kötelessége segítséget nyújtani minden rendelkezésre álló eszközzel (kölcsönös védelmi klauzula). E segítségnyújtásban a kötelezettségvállalásnak és együttműködésnek összhangban kell állnia a NATO-kötelezettségvállalásokkal, hiszen a a közös védelem alapját a NATO jelenti.
Az 1954. október 23-án létrehozott Nyugat-európai Unió a közös európai védelem megteremtését igyekezett elősegíteni, majd a közép- és kelet-európai rendszerváltást követően a válságkezelés felé fordult. Mivel a NYEU a NATO és az Európai Unió árnyékában nehezen találta helyét, már az 1999. júniusi kölni csúcson döntés született az EU-ba való fokozatos beolvasztásáról. Egy 2000. novemberi döntésnek megfelelően 2001. július elsejével a szervezet érdemi működése megszűnt, de névlegesen eddig nem számolták fel. A brüsszeli székhelyű szervezet parlamenti közgyűlése tovább működött Párizsban, mintegy hatvan alkalmazottal, évi 13 millió eurós költségvetéssel.
A NYEU-ban tíz teljes jogú tagország fogott össze: Németország, Franciaország, Nagy-Britannia, Olaszország, Spanyolország, Portugália, Görögország, valamint a három Benelux állam. További 18 ország „társult tag”, „társult partner”, illetve „megfigyelő” státust kapott, de valamennyiüket összekapcsolja egymással a NATO- és/vagy az EU-tagság.

Wednesday, March 31, 2010

EU Welcomes Serbia's Srebrenica Apology

The European Union praised Serbia on Wednesday for acknowledging its troubled past after parliament in Belgrade apologised over the 1995 killing of thousands of Bosnian Muslims in Srebrenica.
Nearly 13 hours of debate that ended after midnight highlighted deep divisions about Serbia's wartime past at a time when the country aspires to join the EU. "This is an important step for the country in facing its recent past, a process which is difficult but essential for Serbian society to go through," EU foreign policy chief Catherine Ashton said in a joint statement with Enlargement Commissioner Stefan Fule. "This is not only important for Serbia, it is the key for the reconciliation for the whole region."
The Serbian resolution expressed sympathy to the victims and apologised for not doing enough to prevent the massacre, but stopped short of calling the killings "genocide." The measure was approved by 127 of the 149 deputies present in parliament. Some opposition parties left the chamber shortly before the vote.
"With this (declaration) the people of Serbia demonstrated they want to distance themselves from that monstrous crime," Serbian President Boris Tadic told a news conference.
The New York Times

Monday, March 29, 2010

United States and European Union Sign New Open Skies Agreement

The United States and the European Union have just agreed to a second Open Skies aviation agreement. This one significantly liberalizes transatlantic aviation regulations.
The first Open Skies deal, which came into force March of 2008, allowed unlimited access to and from Europe and the United States for international carriers. The second stage of this deal now seeks to allow European and American airlines to take major stakes in competitors.
Right now foreign control of United States carriers is currently capped at 25 percent. United States airlines can gain ownership of European Union carriers by 49.9 percent. Any effort to boost European ownership of American airlines more than this in the past would require approval from the United States Congress.
The European commission vice president responsible for transport, Siim Kallas, welcomed this as a major step forward. He said that both sides have agreed to increase regulatory co-operation and remove the barriers to market access that have been holding back the development of the world’s most important aviation markets. The European Union has long pressed for such an outcome. They said that it would represent a key step towards liberating the airline industry from the outdated regulatory constraints in the area of foreign investment that prevent it from acting like any other industry.
However, John Byerly, the chief United States Negotiator, said that the progress in the negotiations is far from assured. He insisted that the united States has made no commitments to change its ownership limits. He said that there are no requirements and no timetable. Thus, only time will tell what this new Open Skies Agreement will truly hold in store for the aviation world.

Friday, March 26, 2010

Megegyeztek az unió vezetői a görög támogatásról

Az uniós csúcson a tagállamok vezetői megállapodásra jutottak arról a pénzügyi mechanizmusról, amelyet szükség esetén az eurózónához tartozó Görögország vehet igénybe.
Különtalálkozójukon az eurócsoport 16 országának vezetői elfogadták Angela Merkel német kancellár és Nicolas Sarkozy francia elnök közösen kidolgozott tervét - jelentették be uniós diplomáciai források a tanácskozás helyszínén, Brüsszelben. A megállapodás szerint Athén a Nemzetközi Valutaalaptól (IMF), illetve kétoldalú alapon a többi euróövezeti országtól is hitelhez juthat, ha a piacokról normális feltételekkel már nem tud kölcsönözni.
A megállapodást azonnal üdvözölte Jeórjiosz Papandreu görög miniszterelnök, aki szerint az uniós szolidaritás szempontjából nagyon kielégítő megoldás született. Hangoztatta, hogy az EU és Görögország is tett egy fontos lépést előre. A kompromisszum szerint egyetlen tagállam számára sem kötelező Görögország segítése, de – mint José Sócrates portugál kormányfő elmondta – minden euróország jelezte, hogy szükség esetén részt vállal a hitelezésből.
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A kompromisszum része az is, hogy még idén döntenek az eurózónában érvényes pénzügyi fegyelem szigorításáról. Ennek az a célja, hogy a jövőben elkerüljék a göröghöz hasonló eseteket.
Euvonal

Saturday, March 20, 2010

EU Calls for Bank Collapse Fund

The European Union's finance executive called Friday for banks to pay into a fund that could be drawn upon in case of collapse, an effort to shield taxpayers from the fallout of future crises.
Officials are also calling for new ways to deal with insolvent financial groups that operate in multiple countries to avoid a repeat of the messy and expensive cross-border wrangling that followed the September 2008 collapse of U.S. investment bank Lehman Brothers.
EU financial services commissioner Michel Barnier, who can draft new EU rules, said taxpayers should not pay for "the excesses and inconsiderate risk-taking of financial institutions."He said environmental rules insist that the polluter pays and "in financial matters, I don't see why it should be any different." He didn't promise to draft rules, saying he would first examine ways for sharing out the costs of bank failure.
The head of the International Monetary Fund, Dominique Strauss-Kahn also called on the European Union to come up with "a fire brigade" to deal with the collapse of banks that operate across several countries. He suggested that a new European resolution authority should deal with insolvent banks that would force shareholders and uninsured creditors to bear the costs of failure.
The new agency should be funded as far as possible by levies on financial groups and deposit insurance fees, he said, and should have clear guidelines on rescuing or dissolving a bank that splits its business across different nations.
ABC news

Monday, March 15, 2010

4 million jobs vanished in 2009

Official data show that some 4 million jobs disappeared in the European Union last year, when countries were struggling to emerge from recession. In a Monday release, the EU statistical agency Eurostat said EU employment numbers dropped 1.8 percent from 2008 and that 221.1 million people were working in the region in the last three months of the year.
In the 16 nations that use the euro, some 2.72 million jobs vanished as employment fell 1.8 percent from the previous year. Some 144 million were employed in the fourth quarter.
Eurostat says the highest number of job losses were in the manufacturng industry, construction and trade, transport and communication services. Agriculture and public administration, health and education added jobs.
AP

Thursday, March 4, 2010

Európa 2020

Középpontban az innováció, fenntartható fejlődés és a munkahelyteremtés
Az Európai Bizottság ma terjesztette elő az Európa 2020 stratégiát, amelynek célja a válságból való kilábalás és az európai gazdaság felkészítése a következő évtizedre.

Az Európa 2020 stratégia három, egymással összefüggő és egymást kölcsönösen erősítő szakpolitikai területre épül: intelligens növekedés, azaz a tudáson és innováción alapuló gazdaság kialakítása; fenntartható növekedés, azaz erőforrás-hatékonyabb, környezetbarátabb és versenyképesebb gazdaság létrehozása; és inkluzív növekedés, azaz a foglalkoztatás magas szintjét biztosító, szociális és területi kohéziót eredményező gazdaság ösztönzése.
A stratégia előterjesztése kapcsán Barroso a következőket nyilatkozta: „Az Európa 2020 stratégia arról szól, mit kell tennünk ma és holnap ahhoz, hogy az uniós gazdaságot visszaállítsuk a növekedési pályára. (...) Határozottan kell fellépnünk gyengeségeink orvoslására, és arra a – nem is kevés – területre kell építenünk, ahol erősek vagyunk. Új gazdasági modellt kell kialakítanunk, amely a tudáson, a környezetbarát gazdaságon és a foglalkoztatás magas szintjén alapul. Ehhez a küzdelemhez minden európai szereplő hozzájárulására szükség van. (...) Együtt sokkal erősebbek vagyunk, ezért a válságból csak úgy tudunk sikeresen kilábalni, ha gazdaságpolitikáinkat szorosan egyeztetjük. Ha nem így teszünk, a relatív hanyatlás „elvesztegetett évtizedének” nézünk elébe: jóvátehetetlenül lelassul a növekedés, és strukturálisan magas lesz a munkanélküliség.”
Az előrehaladást az unió öt kiemelt célkitűzés megvalósulása alapján értékeli majd, és a tagállamok feladata lesz, hogy ezeket a célkitűzéseket lebontsák a kiindulási helyzetet is tükröző, nemzeti szintű célokra. Az öt kiemelt uniós célkitűzés a következő:
  • A 20–64 évesek körében legalább 75 százalékra kell emelni a foglalkoztatás szintjét.
  • Az uniós GDP 3 %-át kutatásra és fejlesztésre kell fordítani.
  • Teljesíteni kell a „20/20/20” éghajlat-változási/energiaügyi célkitűzéseket.
  • Az iskolából kimaradók arányát 10% alá kell csökkenteni, és el kell érni, hogy az ifjabb generáció legalább 40 százaléka rendelkezzen felsőoktatási oklevéllel.
  • 20 millióval csökkenteni kell a szegénység kockázatának kitett lakosok számát.

A Bizottság e célok elérése érdekében javasolja az Európa 2020 programot, amely néhány, az alábbiakban felsorolt, kiemelt kezdeményezés köré szervezi a feladatokat. Közös prioritásunk, hogy ezek a kezdeményezések megvalósuljanak, ezért az uniós szintű szervezeteknek, a tagállamoknak, a helyi és regionális hatóságoknak egyaránt cselekedniük kell.

  1. Innovatív Unió – a kutatás-fejlesztési és az innovációs politikát a főbb kihívásokra kell koncentrálni, és elő kell segíteni, hogy a tudományos eredményekből mielőbb piacra dobható termékek szülessenek. A közösségi szabadalom eredményeként például a vállalkozások minden évben 289 millió eurót takaríthatnának meg.
  2. Mozgásban az ifjúság – a diákok és a fiatal szakemberek mobilitásának ösztönzésével növelni kell az európai felsőoktatás minőségét és nemzetközi vonzerejét. Ide tartozó konkrét feladat, hogy a tagállamokban megnyíló lehetőségeket Európa-szerte hozzáférhetőbbé kell tenni, és megfelelően el kell ismerni a szakmai képesítéseket és tapasztalatot.
  3. Európai digitális menetrend – a nagysebességű internetre épülő egységes digitális egységes piac révén fenntartható gazdasági és társadalmi előnyöket kell teremteni. 2013-ra minden európai számára elérhetővé kell tenni a nagysebességű internetet.
  4. Erőforrás-hatékony Európa – támogatni kell az elmozdulást az erőforrás-hatékony és alacsony szén-dioxid-kibocsátású gazdaság felé. Tartani kell a 2020-ra kitűzött célokat az energiatermelés, -hatékonyság és -fogyasztás tekintetében. Ennek eredményeként 2020-ra 60 milliárd euróval csökkenthet a kőolaj- és földgázimport költsége.
  5. Környezetbarát iparpolitika – az Unió háttériparát segíteni kell abban, hogy a válságot követő világban is versenyképes legyen, ösztönözni kell a vállalkozási kedvet és az új készségek elsajátítását. Ennek nyomán több millió új munkahely jöhet létre.
  6. Új készségek és munkahelyek menetrendje – meg kell teremteni a munkaerőpiac modernizálásának feltételeit, hogy növekedhessen a foglalkoztatás és biztosítani lehessen társadalmi modelljeink fenntarthatóságát a háború után született nemzedék nyugdíjba vonulását követően is.
  7. Szegénység elleni európai platform – biztosítani kell a gazdasági, társadalmi és területi kohéziót azáltal, hogy segítjük a szegénységben és társadalmi kirekesztettségben élőket, és képessé tesszük őket arra, hogy aktív társadalmi szerepet játsszanak.
Az Európa 2020 által megfogalmazott törekvések megvalósítása az eddiginél magasabb szintű irányítást és elszámoltathatóságot kíván. A Bizottság felkéri a tagállamok állam- és kormányfőit, hogy vállaljanak felelősséget az új stratégia megvalósításáért, és a stratégiát hagyják jóvá az Európai Tanács tavaszi ülésén.
A Bizottság folyamatosan nyomon követi az elért haladást. A nagyobb koherencia érdekében az Európa 2020, illetve a Stabilitási és Növekedési Paktum esetében egyidejűleg folyik majd a jelentéstétel és az értékelés; ezáltal lehetővé válik, hogy e két stratégia hasonló reformtörekvéseket próbáljon megvalósítani, miközben továbbra is külön eszközökként működnek majd.
Euvonal

Wednesday, March 3, 2010

Commission welcomes fresh Greek austerity measures

The European Commission has said Greece's budget deficit plans are now on track, following the Greek government's announcement on Wednesday (3 March) of fresh austerity measures worth €4.8 billion.
Athens presented its budgetary plan - known as a 'stability programme' - to the commission in January, in which it pledged to reduce its budget deficit by four percent of GDP in 2010. After a three-hour cabinet meeting on Wednesday morning, Greek government spokesman Giorgos Petalotis said the agreed new measures amounted to €4.8 billion, split between €2.4 billion in new revenues and €2.4 billion in spending cuts.
  • They include a dramatic 30 percent cut in the holiday bonuses of Greek civil servants.
  • The plans also include a 12 percent cut on other civil servant bonuses, a freeze on all pensions, a 2 percent rise in the VAT rate to 21 percent and a 20 percent increase in the tax on alcohol and tobacco, as well as an 8 cent-a-litre increase in the price of petrol.
  • There are also plans for a tax rise on luxury goods such as expensive cars.

In return for the fresh austerity measures, Greece is hoping for greater details of a bailout plan to be made public, a step which Athens argues will bring down its borrowing costs. Euro area states have so far resisted however. Greek hopes have recently centered on a meeting between Mr Papandreou and German chancellor Angela Merkel this Friday, but a German official said on Wednesday that Berlin would not offer financial aid to Greece at the meeting.

Euobserver

Thursday, February 11, 2010

China officially tops Germany as world's No.1 exporter

Official data released from Germany on Tuesday (9 February) confirmed that China has stripped Europe's largest economy of its top exporter title. Data released by the German Federal Statistics Office showed the country's exports fell by 18.4 percent in 2009 when compared to the previous year, hitting a dollar equivalent of $1.121 trillion. China's exports for 2009 totaled $1.202 trillion.
Despite the drop, which represents the greatest year-on-year decline for Germany since 1950, the news of China's takeover was not greeted with great alarm by German economists.
"This is something that was expected. Everyone agrees that China's currency is undervalued, but still it was only a matter of time," Gernot Nerb, head of the industry department with the Ifo Institute for Economic Research, Munich, told this website.
The official figures also showed a strong export recovery in the fourth quarter of the year, helping to pull Germany out of its recession and providing a silver lining to the more gloomy annual data. With more than 60 percent of Germany's exports going to other EU countries, concerns have been raised that the bloc's forecast low rates of growth in the coming years could prose a problem for Germany's export model.
"There is some concern but we are mainly exporting investment goods, and you can not postpone investment for ever," said Mr Nerb, conceding that investment levels will probably not pick up before 2011-12 however. A breakdown of the German figures shows exports to the EU were down 19.1 percent year-on-year, with sales to faster-growing regions of Asia and South America faring little better and falling 17.1 percent. German imports also declined rapidly in 2009 as result of the financial crisis, dropping fell by 17.2 percent.
Euobserver

Tuesday, February 9, 2010

Greece gets three years to solve budget woes

While Greek Prime Minister George Papandreou went on national television to dramatize his country’s failing economic state because of out-of-control debt – a dilemma he said requires 10% cuts in public workers wages and higher taxes – the European Union said it would give Greece until the end of 2012 to regain control of its finances.
The drama mounted both in Athens, where public workers said they would take to the streets in protest, and in Brussels, where the European Commission said it would not take immediate punitive action although Greece’s near 13% deficit is more than four times the EU’s ceiling of 3% for countries using the euro as their currency. But the EU said it would monitor Papandreou’s near-Draconian austerity program and step in if Greece failed to meet regular benchmarks because the crisis has threatened the stability of the euro.
Under pressure from the EU to get its fiscal house in order, Papandreou said a public sector pay freeze and fuel duty increases were essential, because the economic crisis was threatening the country with disaster. “I want to be honest. We are making a national effort to stop the country from falling off the cliff,” Papandreou said in his TV address, which drew instant anger from many Greeks who blame the government, including past administrations, for lying to the EU about its financial condition, which has necessitated the wage cuts and tax hikes that would cut deep in a country where the minimum wage is only 700 euros monthly and where many Greeks are under a tsunami of debt to banks who got 28 billion euros in state aid but have refused to lend to consumers. Papandreou made a plea for understanding and cooperation. “Every citizen should be prepared to fight to protect the economy,” he said, but when the question of wage cuts was raised previously, members of the Greek Parliament, who make more than 7,000 euros a month, said they didn’t want to take pay reductions while workers would.
The move came as the European Commission set out the most detailed monitoring system it has ever imposed on a Eurozone country, effectively taking control of sweeping aspects of the Greek budget. “This is a very tough system of monitoring, but the confidence about the success of the program ... is directly linked with the political support that the Greek authorities will receive” from Greek society and the EU, Economic and Monetary Affairs Commissioner Joaquin Almunia told journalists in Brussels.
The Commission “will monitor the execution of the budget and of the reforms very closely and regularly,” he said. The Commission threw its full weight behind a detailed Greek plan aimed at bringing the government’s debt back under control and restoring its vanished credibility by slashing spending and increasing tax revenues. That effectively binds the Greek government to measures such as freezing public-sector wages, stopping new hiring in 2010 and boosting excise on tobacco and alcohol sales, since the EU’s executive will step in if they are not implemented. “Every time we observe slippages, we will ask the Greek authorities to adopt additional measures,” Almunia warned.
The euro, the EU’s flagship currency, has taken a battering in recent months following the revelation that the last Greek government - voted out of office in October - had massively understated its budget deficit when it said it was 3.5%. Immediately after the election, the new socialist government revealed that the real figure for 2009 was 12.7%, provoking outrage across the EU, with some states accusing the Greeks of fraud.
Money markets also responded with dismay. Over the last two months, the euro has lost some 8% of its value against the dollar - largely thanks to concerns over Greece and fears that other euro states, such as Portugal, could also face budget problems. Greece and Portugal “share some common problems,” such as falling competitiveness and high external financing debts, Almunia admitted.
Almunia welcomed that move, rejecting suggestions that Greece might have to be bailed out by the International Monetary Fund and saying that the EU was strong enough to tackle the problem alone. “I am fully convinced that the EU and the euro-area countries and system have instruments enough to cope with this challenge, to deal with this issue, to solve these problems, and it’s what we are doing,” he said.
Almunia also said that the next Commission - expected to take office later this month - would propose laws to give its statistical branch, Eurostat, the power to audit national accounts. EU member states rejected an earlier proposal to that effect in 2005. “If Eurostat had received audit powers during the previous years, it is possible that the present statistical problems would not have occurred,” Almunia said.
New Europe

Európa leértékelődik

Az EP jóváhagyta az új Európai Bizottságot

Az Európai Parlament mai ülésnapján (2010. február 9.) Strasbourgban 488 igen, 137 nem szavazat, és 72 tartózkodás mellett jóváhagyta a José Manuel Barroso vezette 27 tagú új Európai Bizottságot.
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Thursday, February 4, 2010

Elmarad az EU-USA csúcs

Az Egyesült Államok Külügyminisztériumának szóvivője többek között a Lisszaboni Szerződés ellentmondásosságára hivatkozott, mikor bejelentette, hogy Barack Obama elnök nem jön el a májusra tervezett EU-USA csúcsra Madridba.
Philip J. Crowley szerint a szerződés ellentmondásos abból a szempontból, hogy nem egyértelmű, hogy kivel és mikor kellene találkoznia az Egyesült Államok elnökének az unió részéről. A szóvivő szerint a jelenlegi új struktúrában a Tanács félévente rotálódó elnöksége mellett az Európai Tanácsnak is van már egy állandó elnöke, mely igaz a Bizottságra is, és számukra is kérdéses, hogy a majdani csúcstalálkozókat az EU részéről ki és hol fogja megtartani.
A hír nyomán számtalan cikk jelent meg a nemzetközi sajtóban arról, hogy ez a lépés egyértelmű jele annak, hogy Európa leértékelődött az Egyesült Államok számára. Az El Mundo című spanyol napilap kedden arról írt amerikai forrásokra hivatkozva, hogy a legutóbbi, tavaly novemberben tartott csúcstalálkozó „elvette Obama kedvét attól, hogy részt vegyen egy újabb ilyen találkozón májusban”. Az El País szerint Obama „hátat fordít Európának”. A napilap azt írta, hogy Obama a novemberi lisszaboni NATO-csúcstalálkozóval egyidejűleg szeretne sort keríteni az EU-USA-találkozóra. (Euvonal)
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Why Obama won't bother to attend the EU summit?
Months after the European Union ratifies a treaty aimed at increasing its clout in the world, President Barack Obama's decides not to travel to a summit with EU leaders in Spain because he has more important things to do. Predictably, the decision is interpreted in Europe as a snub for the Spanish government of Jose Luis Zapatero and also for the EU, still recovering from the failure of its efforts to lead by example at the Copenhagen climate talks.
Indeed, the decision reinforced a developing narrative within Europe that was one of the themes of last week's meeting in Davos. With the rise of China, and to a lesser extent economies such as India and Brazil, Europe is less of a player than it was on the world stage. Add this to Europe's current economic travails—sovereign debt problems within the euro zone, feeble economic growth and badly-wounded banking systems—and the outlook is a testing one for Euro-optimists.
Unsurprisingly, Washington did its best to protest that Europe was still at the top of its agenda. Philip Gordon, the senior State Department official responsible for European affairs, said in an interview that the decision of the president not to come is "not a slight; nor is it a cancellation."
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He said the decision was no reflection on the U.S.'s bilateral relationship with Spain, which had improved significantly since Mr. Zapatero, directly after he was elected in 2004, withdrew all Spanish troops from Iraq and earned the enmity of President George W. Bush. "I think we have really turned the corner on a problematic relationship during the Bush administration," Mr. Gordon said.
Neither was it a commentary on the importance of the U.S. relationship to Europe. He echoed comments from his boss Hillary Clinton, who addressed head-on in a speech last week "concern that the Obama administration is so focused on foreign policy challenges elsewhere in the world that Europe has receded in our list of priorities." "European security remains an anchor of U.S. foreign and security policy," she said.
Mr. Gordon denied suggestions in Europe that the administration had been disappointed by the support given to Mr. Obama's plan to pour 30,000 more troops in Afghanistan – to which European governments have added a further 9,000. "I think we were quite pleased with the response to the president's speech on Afghanistan," he said. Despite these protestations, many Europeans think the EU and its member governments would be unwise to ignore the message from Mr. Obama's non-cancellation.
Charles Grant, director of the Centre for European Reform, a London-based think tank, said this president does not have the attachment to the old continent of many of his predecessors. "Obama is very unemotional about the E.U.," he said.
The key to getting him to attend E.U. summits is to provide practical solutions to problems. "He's not going to take the E.U. seriously unless the E.U. delivers," he said.
Mr. Grant's point is reinforced by what, according to many European press reports, was European squabbling ahead of the Madrid meeting over transcendental questions such as who was going to sit next to Mr. and Mrs. Obama at the summit dinner, who would shake Mr. Obama's hand first (Mr. Zapatero) and who would sit to his right (Herman Van Rompuy, new president of the European Council).
The Wall Street Journal

Wednesday, January 13, 2010

EU report slams Greece over false statistics

A report published by the European Commission on Tuesday (12 January) has condemned Greece for falsifying its data on public finances. Written up at the behest of EU finance ministers, the document talks of "deliberate misreporting of figures by the Greek authorities in 2009."
The country's newly elected Socialist government upwardly revised its 2009 deficit forecast last October from 3.7 to 12.5 percent, a considerable change that prompted credit rating downgrades and outrage in other EU member states.
The document continues that the Greek data is so unreliable that actual debt and deficit figures could be even higher than the revised forecast. In a damning paragraph, the commission says: "poor co-operation and lack of clear responsibilities between several Greek institutions and services  ...ambiguous empowerment of officials, absence of written instruction and documentation, which leave the quality of fiscal statistics subject to political pressures and electoral cycles".
Some analysts say the country's debt level, currently at 113 percent of gross domestic product and set to rise further, poses a major problem for Athens and could threaten the stability of the euro due to spillover effects into other member countries and market jitters.
EU governments have asked the commission to put forward a list of measures to help the embattled administration tackle the issue, with the handover likely to happen in the coming days. Greece is then expected to report back to the commission by the end of the month with a list of actions it plans to take.
Euobserver