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Archive for the ‘Battle for Europe’ Category

Deal reached on bank “bail-in directive”

Posted by seumasach on October 29, 2014

European Parliament

12th December, 2013

Parliament and Council Presidency negotiators reached a political agreement Wednesday on the draft bank recovery and resolution directive, the first step towards setting up an EU system to deal with struggling banks. This directive will introduce the “bail-in” principle by January 2016, thereby ensuring that taxpayers will not be first in line to pay for bank failures.

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Towards the world’s first supranational parliament

Posted by seumasach on October 26, 2014

“Les mouvements citoyens anti-austérité ou simplement soucieux de démocratisation du système décisionnel européen seraient bien inspirés de joindre leurs voix pour exiger des élections trans-Euroland. Cela pourrait accélérer la transition.”

The protest movements across Europe remain stuck in the familiar vagaries of “another world is possible”. They need to leave aside their “anotherworldlyness” and find concrete goals. Given that they are not anti-European, for the most part, they should focus on the issue of European or, more specifically, Eurozone construction. The creation of sovereign, democratic structures at Eurozone level is urgent required especially given the failure of national governments to break out of the Atlanticist stranglehold dramatically illustrated by the fiasco of their dealings with Ukraine. The eurozone still has to create an independent foreign and defense policy, deal with the insolvency of its financial institutions and rebuild the real economy.

Un Super-Comité de l’Euroland au sein du Parlement européen ? En route vers le premier Parlement supra-national du monde

Marie-Hélène Caillol

LEAP 2020

24th October, 2014

La crise de l’Euro a permis de déployer l’embryon institutionnel de la zone Euro : de la BCE au Sommet de l’Euro via l’Eurogroupe, l’UE et les Etats-Membres se sont rendu compte à partir de 2009 qu’ils avaient omis de doter d’un système de gouvernance ce nouveau souverain apparu en 2002 au sein de l’UE, l’Euroland. Ni l’UE ni les états-membres n’étaient donc en mesure de prendre les décisions qui s’imposaient, encore moins de les mettre en oeuvre. Alors il a fallu créer à toute vitesse les mécanismes et les instances nécessaires. Ce fut fait et cela sauva, temporairement, l’euro.

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EU seeks compromise with Russia over Ukraine free-trade pact

Posted by seumasach on September 11, 2014

This looks suspiciously like a move towards the trilateral agreement over Ukraine whose rejection by the EU led to the current crisis

Reuters

11th September, 2014

BRUSSELS, Sept 11 (Reuters) – The EU will offer Russia more time to adjust to a European trade pact with Ukraine, diplomats say, moving to ease bilateral tensions over an accord at the centre of the crisis in Ukraine as a ceasefire there takes hold.

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France ready to work with Russia on Ukraine, Middle East

Posted by seumasach on September 11, 2014

RIAN

11th September, 2014

MOSCOW, September 11 (RIA Novosti) – France is interested in stabilizing the situation in Ukraineand the Middle East and stands ready to work together with Russia to this end, Thierry Mariani, a member of the French National Assembly and a member of the French delegation to the OSCE Parliamentary Assembly, said Thursday.

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Ukraine, EU to ratify Association Agreement simultaneously

Posted by seumasach on September 4, 2014

First, they tried to sign the AA with the legal government, then they tried to sign it with the illegal government which they had installed via a coup d’etat. Now they are trying to sign it with a government which has just lost a war against part of its own population, whose neo-nazi front line troops have sworn to overthrow it, whose national army has disintegrated and which will preside over a de facto partition of the the country if it continues to reject a negotiated peace settlement. All this so that the respective parties can save some face and continue to maintain the completely false story they have been putting out through their completely controlled media. The EU cannot get much lower than this and if it continues to exhibit this kind of political ineptitude, fruit of a political class completely in tow to Anglo-American interests, it will collapse. The problem in Europe is not so much the economy or the common currency but the crisis in direction and in the absence of an independent political leadership.

Euroactiv

4th September, 2014

The European Parliament and Ukraine will ratify the country’s Association Agreement (AA) simultaneously, during the 15-18 September session, EurActiv has learned. The signing of the AA led to the conflict currently under way between Ukraine and Russia.

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Russia, EU exchanging glances

Posted by seumasach on August 17, 2014

M.K.Bhadrakumar

Indian Punchline

17th August, 2014

Open dissent erupted at the European Union foreign ministers’ meeting on Friday regarding sanctions against Russia. In an extraordinary outburst, Hungary’s prime minister ridiculed, here, that the Europeans are shooting at their own feet. Earlier, Slovakia and Czech Republic also sought a rethink on the sanctions policy. That leaves Poland, Lithuania and Romania as the odd ‘hawks’ in ‘New Europe’ allied with Washington. 

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“Anti-Putin” Alliance Fraying

Posted by seumasach on August 17, 2014

 Germany, Slovakia, Greece, Czech Republic Urge End To Russian Sanctions

Zero Hedge

16th August, 2014

Last week Germany reported that in the second quarter, its GDP declined by 0.2%, worse than Wall Street consensus. This happened a few shorts days after Italy reported a second consecutive decline in its own GDP, becoming the first Europen country to enter a triple-dip recession. What’s worse, Europe’s slowdown took place before the brunt of Russian sanctions hit. Surely in the third quarter the GDP of Germany, a nation whose exports accounts for 41% of GDP, will be even worse, with whisper numbers of -1% being thrown casually around, but one thing is certain: Europe is about to enter its third recession since the Lehman collapse just as we forecast at the end of 2013, a “triple-dip” which may become an outright depression unless Draghi injects a few trillion in credit money (which will do nothing but delay the inevitable and make it that much worse once the can can no longer be kicked), and unless normal trade ties with Russia are restored.

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The Euro-BRICS project

Posted by seumasach on August 9, 2014

NKI BRICS-LEAP meeting in Paris (27/07/2014)

LEAP 2020

4th August, 2014

On July 27th, in Paris, as part of the Euro-BRICS project, representatives of NKI BRICS and LEAP met in order to discuss interesting perspectives of cooperation. NKI-BRICS’ website reports:

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BRICS 2009-2014: Five years of lost opportunities for Europe …

Posted by seumasach on August 7, 2014

LEAP 2020

27th July, 2014

When the BRIC launched their own club in 2009[1], their goal was pretty simple: to provide a group strong enough to initiate and drive the reform of the global governance institutions. This dynamic alliance intended to pursue their adjustment to the new realities of a multi-polar world in which they were the main actors : to reconcile voting weight and financial participation in the IMF[2] and the World Bank, to integrate the  constraints of the new powers in this WTO[3]“philosophy” and to involve the dollar in a basket of currencies of significant world economies in order to create a new international trading currency, a stronger and more representative[4] one…

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Germany to reject free-trade agreement with Canada

Posted by seumasach on August 5, 2014

“Toujours selon le quotidien «Sueddeutsche Zeitung», des diplomates allemands à Bruxelles auraient également affirmé que si l’accord de libre-échange avec le Canada était rejeté, celui avec les États-Unis subirait vraisemblablement le même sort.”

[According to the «Sueddeutsche Zeitung», German diplomats in Brussels alsao affirmed that if the free trade deal with Canada was rejected , that with the USA would meet with the same fate]

L’Allemagne rejetterait l’accord de libre-échange

Metro

27th July, 2014

MONTRÉAL – L’Allemagne serait sur le point de rejeter l’accord de libre-échange conclu entre le Canada et l’Union européenne (UE) l’an dernier, a révélé samedi un quotidien allemand.

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Germany gives green light for banking union plans

Posted by seumasach on July 11, 2014

To minimize the expense to euro zone taxpayers, European Union policymakers have drawn up a law under which shareholders, creditors and very large depositors will lose money first in the event of a bank failure.

For some reason many commentators fail to distinguish between bail-in, as is the case here,  and bailout, as we saw in US/UK in 2008. The above makes it clear.

Independent.ie

11th July, 2014

Germany’s cabinet has approved a package of draft laws which effectively give the go-ahead to Europe’s plans for banking union – the main confidence-building response to the crisis in the financial sector, a government source said yesterday.

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