New EC Thread
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Re: New EC Thread
Panda Tue 22 Jan - 10:35
Britain becomes Germany's biggest trade partner as Berlin-London pact deepens
Britain has overtaken France to become Germany’s biggest global trade partner for the first time in the modern era, solidifying the emergence of a “special relationship” between Europe’s two like-minded northern powers.
Fresh data from the Bundesbank show that Anglo-German trade in goods and services soared to €153bn in the first nine months of 2012. Photo: Reuters
By Ambrose Evans-Pritchard
6:48PM GMT 21 Jan 2013
554 Comments
Fresh data from the Bundesbank show that Anglo-German trade in goods and services soared to €153bn in the first nine months of 2012, with both exports and imports booming at double-digit rates.
It is one of the fastest growing trade relationships in the developed world. France lagged behind at €150bn as trade stagnated, with the US at €149bn and China at €115bn.
David Marsh from the financial group OMFIF said the trade swing underlines a “sobering truth” that Germany’s fundamental interests are shifting away from the eurozone core as Berlin embraces the wider world. The EMU share of German trade has fallen from 46pc to 37pc since the launch of the euro, displaced by Asia, as well as Eastern Europe and the Anglo-sphere.
British goods exports to Germany rose 20pc over the first three quarters compared to a year earlier, despite the economic downturn. The surge was led by medical equipment, drugs, car components, and petroleum goods. The deficit with Germany narrowed slighty to €17bn, a sign that trade is becoming better-balanced.
Although rarely acclaimed, British suppliers and manufacturers are deeply integrated into the German industrial machine and enjoy the follow-through benefits of German exports to the rest of the world.
Related Articles
Pailton Engineering ships precision-steering systems for cars and trucks from its small plant in Coventry, one of countless UK engineering firms linked into the Wirtschaftswunder.
The two economies have become entwined, and Britain is the biggest investment destination for German companies, despite hainving different currencies.
The car group BWM builds engines for its BMW 1 and BMW 3 series at Hams Hall near Birmingham that are then shipped back to Germany for further assembly. The engineering conglomerate Siemens exports turbines and a host of compenents made in Britain back to Germany.
The British “sorpasso” of France is a troubling moment for Paris as it celebrates the 50th anniversary of the Elysee Treaty between the two Rhineland powers, once the all-powerful axis of EU affairs but now a fraying marriage that has lost magic and relevance since German reunification.
Germany’s Angela Merkel has crossed swords repeatedly with France’s Socialist leader Francois Hollande over the eurozone crisis, and Berlin fears that France may become a liability for the eurozone after deferring trough reforms and letting state spending balloon to 55pc of GDP.
Germany’s trade surplus with France grew 13pc last year to €28.5bn. France remains a crucial market, but it is diminish fast in relative terms and the political body-language is clearly changing.
Mrs Merkel has quietly supported of fellow conservative David Cameron, stepping in to prevent British isolation at EU summits. The two leaders have broadly similar views on open global trade, EU competition policy, and budget restraint. “It is clear that Merkel it going out on a limb to try to keep Britain in the EU,” said Holger Schmieding from Berenberg Bank.
Charles Grant, head of the Centre for European Reform, said Mrs Merkel will “bend over backwards” to help Britain by offering safeguards for the City and backing for market reforms, but only up to a point. “They will not agree to repatriate powers or let the UK cherry pick which parts of the EU they want to belong to,” he said, warning the Tories not to overplay their hand.
Britain has overtaken France to become Germany’s biggest global trade partner for the first time in the modern era, solidifying the emergence of a “special relationship” between Europe’s two like-minded northern powers.
Fresh data from the Bundesbank show that Anglo-German trade in goods and services soared to €153bn in the first nine months of 2012. Photo: Reuters
By Ambrose Evans-Pritchard
6:48PM GMT 21 Jan 2013
554 Comments Fresh data from the Bundesbank show that Anglo-German trade in goods and services soared to €153bn in the first nine months of 2012, with both exports and imports booming at double-digit rates.
It is one of the fastest growing trade relationships in the developed world. France lagged behind at €150bn as trade stagnated, with the US at €149bn and China at €115bn.
David Marsh from the financial group OMFIF said the trade swing underlines a “sobering truth” that Germany’s fundamental interests are shifting away from the eurozone core as Berlin embraces the wider world. The EMU share of German trade has fallen from 46pc to 37pc since the launch of the euro, displaced by Asia, as well as Eastern Europe and the Anglo-sphere.
British goods exports to Germany rose 20pc over the first three quarters compared to a year earlier, despite the economic downturn. The surge was led by medical equipment, drugs, car components, and petroleum goods. The deficit with Germany narrowed slighty to €17bn, a sign that trade is becoming better-balanced.
Although rarely acclaimed, British suppliers and manufacturers are deeply integrated into the German industrial machine and enjoy the follow-through benefits of German exports to the rest of the world.
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Pailton Engineering ships precision-steering systems for cars and trucks from its small plant in Coventry, one of countless UK engineering firms linked into the Wirtschaftswunder.
The two economies have become entwined, and Britain is the biggest investment destination for German companies, despite hainving different currencies.
The car group BWM builds engines for its BMW 1 and BMW 3 series at Hams Hall near Birmingham that are then shipped back to Germany for further assembly. The engineering conglomerate Siemens exports turbines and a host of compenents made in Britain back to Germany.
The British “sorpasso” of France is a troubling moment for Paris as it celebrates the 50th anniversary of the Elysee Treaty between the two Rhineland powers, once the all-powerful axis of EU affairs but now a fraying marriage that has lost magic and relevance since German reunification.
Germany’s Angela Merkel has crossed swords repeatedly with France’s Socialist leader Francois Hollande over the eurozone crisis, and Berlin fears that France may become a liability for the eurozone after deferring trough reforms and letting state spending balloon to 55pc of GDP.
Germany’s trade surplus with France grew 13pc last year to €28.5bn. France remains a crucial market, but it is diminish fast in relative terms and the political body-language is clearly changing.
Mrs Merkel has quietly supported of fellow conservative David Cameron, stepping in to prevent British isolation at EU summits. The two leaders have broadly similar views on open global trade, EU competition policy, and budget restraint. “It is clear that Merkel it going out on a limb to try to keep Britain in the EU,” said Holger Schmieding from Berenberg Bank.
Charles Grant, head of the Centre for European Reform, said Mrs Merkel will “bend over backwards” to help Britain by offering safeguards for the City and backing for market reforms, but only up to a point. “They will not agree to repatriate powers or let the UK cherry pick which parts of the EU they want to belong to,” he said, warning the Tories not to overplay their hand.
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Re: New EC Thread
Panda Tue 22 Jan - 16:51
Railways: High-speed fiasco in Benelux
22 January 2013NRC Handelsblad Amsterdam
Two people pose in front of the new high speed Fyra train ahead of it's inaugural journey at Amsterdam's Centraal Station on December 9, 2012.
AFP
Less than six weeks after its launch — and a multitude of technical problems later — the high-speed Fyra train between Amsterdam and Brussels has been taken off the tracks. A flop that brings into question the way international supply contracts are handed out.
NRC Handelsblad
With his admission that he is "sick and tired of it all,” the chief executive of the Belgian railway company NMBS, Marc Descheemaecker, has voiced the opinion of many travellers on the Fyra high-speed train.
The NMBS director let his anger show on January 21 during the TV programme De zevende dag, broadcast by VRT. Fyra, the train that should have been a high-speed rail link between Amsterdam and Brussels, is a fiasco. Punctuality was poor right from the start [see below], and since last weekend the train has not been running at all — a situation that may last several months.
Causes ranged from a swan on the tracks to infrastructural disruptions in Rotterdam. Also often cited were information and communication problems that delayed trains or even brought them to a complete standstill between stations for an indefinite period of time. It now appears that technical problems with the rolling stock, the V250, are also causing serious concerns.
Penny wise, pound foolish
Apparently the trains cannot cope with ice blocks. A piece of bodywork and a protection grill from the Fyra train were found on the tracks. No wonder therefore that the safety department of the Belgian railways imposed a traffic ban [on January 18].
Accusatory fingers are now being pointed at the manufacturer, the Italian company AnsaldoBreda, which issued a hasty apology. But the question is also why NS-Hispeed and NMBS opted for this supplier and not one of the better-known makers of rolling stock on the European network, such as Siemens, Alstom or Bombardier. A classic case of “penny wise, pound foolish”?
The Labour Party Dutch State Secretary for infrastructure Wilma Mansveld has committed herself to providing an alternative train service, according to a letter sent to the Lower House of the Dutch Parliament on January 22.
Patience worn thin
It also appears that the patience that she initially showed for problems with the Fyra has worn thin. She will use her powers to hold the transport operators to the agreements made when granting the concession, or force them to make new agreements.
That, indeed is the least that she can do. Supplemented, of course, by the demand that NS and NMBS conduct an in-depth investigation into the cause of this debacle.
This also means reopening the Belgian-Dutch consultation on the high-speed rail link – not characterised by flexibility at the best of times – with the future of Fyra at stake.
Train passengers may only hope that the outcome is a timetable that they can depend on. After all, reliability takes precedence over the false promise of high speed.
Translated from the Dutch by Kelly Boom
22 January 2013NRC Handelsblad Amsterdam
Two people pose in front of the new high speed Fyra train ahead of it's inaugural journey at Amsterdam's Centraal Station on December 9, 2012.
AFP
Less than six weeks after its launch — and a multitude of technical problems later — the high-speed Fyra train between Amsterdam and Brussels has been taken off the tracks. A flop that brings into question the way international supply contracts are handed out.
NRC Handelsblad
With his admission that he is "sick and tired of it all,” the chief executive of the Belgian railway company NMBS, Marc Descheemaecker, has voiced the opinion of many travellers on the Fyra high-speed train.
The NMBS director let his anger show on January 21 during the TV programme De zevende dag, broadcast by VRT. Fyra, the train that should have been a high-speed rail link between Amsterdam and Brussels, is a fiasco. Punctuality was poor right from the start [see below], and since last weekend the train has not been running at all — a situation that may last several months.
Causes ranged from a swan on the tracks to infrastructural disruptions in Rotterdam. Also often cited were information and communication problems that delayed trains or even brought them to a complete standstill between stations for an indefinite period of time. It now appears that technical problems with the rolling stock, the V250, are also causing serious concerns.
Penny wise, pound foolish
Apparently the trains cannot cope with ice blocks. A piece of bodywork and a protection grill from the Fyra train were found on the tracks. No wonder therefore that the safety department of the Belgian railways imposed a traffic ban [on January 18].
Accusatory fingers are now being pointed at the manufacturer, the Italian company AnsaldoBreda, which issued a hasty apology. But the question is also why NS-Hispeed and NMBS opted for this supplier and not one of the better-known makers of rolling stock on the European network, such as Siemens, Alstom or Bombardier. A classic case of “penny wise, pound foolish”?
The Labour Party Dutch State Secretary for infrastructure Wilma Mansveld has committed herself to providing an alternative train service, according to a letter sent to the Lower House of the Dutch Parliament on January 22.
Patience worn thin
It also appears that the patience that she initially showed for problems with the Fyra has worn thin. She will use her powers to hold the transport operators to the agreements made when granting the concession, or force them to make new agreements.
That, indeed is the least that she can do. Supplemented, of course, by the demand that NS and NMBS conduct an in-depth investigation into the cause of this debacle.
This also means reopening the Belgian-Dutch consultation on the high-speed rail link – not characterised by flexibility at the best of times – with the future of Fyra at stake.
Train passengers may only hope that the outcome is a timetable that they can depend on. After all, reliability takes precedence over the false promise of high speed.
Translated from the Dutch by Kelly Boom
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Re: New EC Thread
Panda Tue 22 Jan - 17:41
German Investor Confidence Increases to 2 1/2-Year High
Q
German investor confidence increased to the highest in 2 1/2 years in January, adding to signs that Europe’s largest economy may gather momentum.
Investors Are Most Optimistic on Stocks in 3 1/2 Years
Q
International investors are the most bullish on stocks in at least 3 1/2 years, with close to two-thirds planning to raise their holdings of equities during the next six months, according to a Bloomberg survey.
Europe Stocks Little Changed as ZEW Offsets U.S. Report
Q
European stocks were little changed as German investor confidence surged, offsetting an unexpected decline in U.S. sales of existing homes.
Deutsche Bank Said to Be Asked by Bafin to Simulate Split
Q
Deutsche Bank AG, Germany’s biggest bank, was asked by the nation’s financial regulator Bafin to simulate a split of its consumer banking and trading businesses, said two people with knowledge of the situation.
Q
German investor confidence increased to the highest in 2 1/2 years in January, adding to signs that Europe’s largest economy may gather momentum.
Investors Are Most Optimistic on Stocks in 3 1/2 Years
Q
International investors are the most bullish on stocks in at least 3 1/2 years, with close to two-thirds planning to raise their holdings of equities during the next six months, according to a Bloomberg survey.
Europe Stocks Little Changed as ZEW Offsets U.S. Report
Q
European stocks were little changed as German investor confidence surged, offsetting an unexpected decline in U.S. sales of existing homes.
Deutsche Bank Said to Be Asked by Bafin to Simulate Split
Q
Deutsche Bank AG, Germany’s biggest bank, was asked by the nation’s financial regulator Bafin to simulate a split of its consumer banking and trading businesses, said two people with knowledge of the situation.
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Re: New EC Thread
Panda Wed 23 Jan - 7:35
21 Jan 2013
Draghi: 'Darkest clouds over euro have passed'
The euro zone can begin 2013 with more confidence than last year but it is up to governments to carry the bloc forward with reforms while the European Central Bank delivers stable prices, ECB President Mario Draghi said on Tuesday.
Mario Draghi, European Central Bank president. Photo: Reuters
6:58PM GMT 22 Jan 2013
70 Comments
Draghi's pledge in July last year to do "whatever it takes" to preserve the euro and his follow-up plan for a new ECB bond-purchase programme helped bring the eurozone back from the brink of break-up.
In a new year's speech, the central bank chief highlighted the impact the bond plan - dubbed Outright Monetary Transactions (OMT) - has had on easing tensions but put the onus on governments to press ahead with reforms to retain confidence in the bloc.
The commitment shown by policymakers in the 17-country bloc last year to securing a stable euro meant that "the darkest clouds over the euro area subsided" in 2012, Draghi said.
"We begin 2013 with more confidence than we had in January one year ago," the Italian told the Frankfurt Chambers of Commerce in his speech, adding quickly that the ECB was focusing on its core task of delivering stable prices.
"This confidence is to a large extent built on the progress that all of us - governments, parliaments, the EU and the ECB - have been able to make during 2012," he said. "But it is also crucially built on the expectation that progress will persist."
Related Articles
"The ECB for its part will be there to continue, as it has done successfully now for 14 years, to safeguard price stability," he said, adding that there were no signs of the central bank deviating from delivering stable prices.
The ECB had shown its commitment to doing what is necessary - within its mandate - to safeguard the stability of the euro, Draghi said, adding: "Only a currency whose future existence is not in doubt can be a stable currency."
Draghi acknowledged that the reform paths many euro zone countries are pursuing is difficult.
"But there is simply no alternative to the path of reform," he said. "Despite the good progress so far showing that adjustment is happening, reform efforts need to be sustained ... Countries need competitiveness to sustain growth."
Governments should not ease off their reform drive, he said: "Relative calm in financial markets should not lead to a lowering of our ambitions to fix the structural flaws in the governance framework of the euro area."
Source: Reuters
Draghi: 'Darkest clouds over euro have passed'
Mario Draghi: 'Darkest clouds over eurozone have passed'
The euro zone can begin 2013 with more confidence than last year but it is up to governments to carry the bloc forward with reforms while the European Central Bank delivers stable prices, ECB President Mario Draghi said on Tuesday.
Mario Draghi, European Central Bank president. Photo: Reuters
6:58PM GMT 22 Jan 2013
70 Comments Draghi's pledge in July last year to do "whatever it takes" to preserve the euro and his follow-up plan for a new ECB bond-purchase programme helped bring the eurozone back from the brink of break-up.
In a new year's speech, the central bank chief highlighted the impact the bond plan - dubbed Outright Monetary Transactions (OMT) - has had on easing tensions but put the onus on governments to press ahead with reforms to retain confidence in the bloc.
The commitment shown by policymakers in the 17-country bloc last year to securing a stable euro meant that "the darkest clouds over the euro area subsided" in 2012, Draghi said.
"We begin 2013 with more confidence than we had in January one year ago," the Italian told the Frankfurt Chambers of Commerce in his speech, adding quickly that the ECB was focusing on its core task of delivering stable prices.
"This confidence is to a large extent built on the progress that all of us - governments, parliaments, the EU and the ECB - have been able to make during 2012," he said. "But it is also crucially built on the expectation that progress will persist."
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21 Jan 2013
"The ECB for its part will be there to continue, as it has done successfully now for 14 years, to safeguard price stability," he said, adding that there were no signs of the central bank deviating from delivering stable prices.
The ECB had shown its commitment to doing what is necessary - within its mandate - to safeguard the stability of the euro, Draghi said, adding: "Only a currency whose future existence is not in doubt can be a stable currency."
Draghi acknowledged that the reform paths many euro zone countries are pursuing is difficult.
"But there is simply no alternative to the path of reform," he said. "Despite the good progress so far showing that adjustment is happening, reform efforts need to be sustained ... Countries need competitiveness to sustain growth."
Governments should not ease off their reform drive, he said: "Relative calm in financial markets should not lead to a lowering of our ambitions to fix the structural flaws in the governance framework of the euro area."
Source: Reuters
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Re: New EC Thread
Badboy Wed 23 Jan - 11:42
PANDA,GOOD TO SEE YOU BACK,ONDERED WHAT HAD HAPPENED TO YOU,HOW WENT THE HOLIDAY?
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Re: New EC Thread
Panda Wed 23 Jan - 16:46
Badboy wrote:PANDA,GOOD TO SEE YOU BACK,ONDERED WHAT HAD HAPPENED TO YOU,HOW WENT THE HOLIDAY?
Thanks Badboy.....I did mention on MM that I was going on holiday , 2 weeks in Lanzarote, first week warm and sunny, second not so good and since I came home on Sunday it has snowed every day!!! It's just started to snow again, that fine stuff , anyway, I did buy more milk and potatoes today, my freezer is full so will hibernate .
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Re: New EC Thread
Panda Wed 23 Jan - 18:30
Press freedom: Report advocates more powers to Brussels
23 January 2013
PresseuropFinancial Times
In their report presented yesterday to the European Commissioner for the Digital Agenda, Neelie Kroes, the High Level Group of experts set up to analyse media pluralism in Europe recommends, among other things, giving the European Union more powers to ensure that the freedom of the press is respected in all countries as well as on the Internet.
The report, which focuses on the media situation in Hungary, but also in France and Italy, proposes harmonising national legislation (in particular on data protection and defamation issues), since European media operate in an environment without borders.
“There are sound reasons for the EU to review safeguards for press freedom and media plurality," writes the Financial Times: "Some newer member states, Hungary in particular, have in recent times taken steps that gravely threaten press independence. But there is a contradiction in wanting to defend this fundamental principle while at the same time giving Brussels greater powers over Europe's media.
23 January 2013
PresseuropFinancial Times
In their report presented yesterday to the European Commissioner for the Digital Agenda, Neelie Kroes, the High Level Group of experts set up to analyse media pluralism in Europe recommends, among other things, giving the European Union more powers to ensure that the freedom of the press is respected in all countries as well as on the Internet.
The report, which focuses on the media situation in Hungary, but also in France and Italy, proposes harmonising national legislation (in particular on data protection and defamation issues), since European media operate in an environment without borders.
“There are sound reasons for the EU to review safeguards for press freedom and media plurality," writes the Financial Times: "Some newer member states, Hungary in particular, have in recent times taken steps that gravely threaten press independence. But there is a contradiction in wanting to defend this fundamental principle while at the same time giving Brussels greater powers over Europe's media.
Giving the commission oversight of media councils would just open the door to a new kind of interference – from Brussels [...] There are better ways to ensure that press regulators are not mere puppets of the state. Europe's charter of fundamental rights, which demands that members respect media freedom and plurality, became law in 2009. Violations can be addressed through judicial channels. The challenges presented by countries such as Hungary demonstrate that more effective tools are needed to deter governments bent on rolling back democratic rights. Europe suffers by not having a graduated range of responses to violations, such as the right to withdraw certain funds if governments overstep the line […] However, making Brussels media's new master is not the way to guarantee a free and vibrant press.
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Re: New EC Thread
Panda Wed 23 Jan - 18:35
Romania: Parliament provides immunity for itself
23 January 2013
PresseuropAdevărul
From now on, "MPs are more equal than other elected officials," states Romanian daily Adevărul. On January 22, Romanian senators and deputies approved a bill allowing them to ignore rulings concerning them issued by the country's anti-corruption watchdog, the National Integrity Agency. The new law will apply even if the Agency rules that an MP's legislative mandate is incompatible with another mandate or that a situation in which they find themselves causes a conflict of interest. The MPs will be able to keep their seats until a court rules on their case.
This bill puts deputies and senators in a privileged position relative to all other elected officials, the paper notes. The votes in favour came entirely from the ranks of the ruling coalition, the USL (Social-Liberal Union). For Adevărul –
23 January 2013
PresseuropAdevărul
From now on, "MPs are more equal than other elected officials," states Romanian daily Adevărul. On January 22, Romanian senators and deputies approved a bill allowing them to ignore rulings concerning them issued by the country's anti-corruption watchdog, the National Integrity Agency. The new law will apply even if the Agency rules that an MP's legislative mandate is incompatible with another mandate or that a situation in which they find themselves causes a conflict of interest. The MPs will be able to keep their seats until a court rules on their case.
This bill puts deputies and senators in a privileged position relative to all other elected officials, the paper notes. The votes in favour came entirely from the ranks of the ruling coalition, the USL (Social-Liberal Union). For Adevărul –
That elected officials are more equal than the rest of us, the others, is not serious. What is serious is that the discussions, the arguments and the fears express but one thing: the Romanian judiciary is not independent. It seems to be following orders, far from Europe's watchful eye. Its independence is a convention. Everybody knows that in court, people are not equal. The poor, the wretched and the disadvantaged have a greater chance of ending up in prison. [...] Conversely, those privileged by fate enjoy a different regime; different treatment. They wield another kind of power
-------------------------------------.
Another reason why the EU will fail .
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Re: New EC Thread
malena stool Wed 23 Jan - 22:39
A very similar system to that which we have here in the UK.
How many Councillors, Civil Servants, MPs, Lords and Bankers have been prosecuted for tax evasion, fraud, expense fiddling, perverting the course of justice and quite possibly treason?
How many Councillors, Civil Servants, MPs, Lords and Bankers have been prosecuted for tax evasion, fraud, expense fiddling, perverting the course of justice and quite possibly treason?
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Re: New EC Thread
Panda Thu 24 Jan - 9:18
malena stool wrote:A very similar system to that which we have here in the UK.
How many Councillors, Civil Servants, MPs, Lords and Bankers have been prosecuted for tax evasion, fraud, expense fiddling, perverting the course of justice and quite possibly treason?
Whether we are more politically savvy or corruption is more prevalent is hard to say.
Tony Blair, to my mind the most corrupt PM we had the misfortune to elect time and time again was interviewed in Davos yesterday , briefly he said:-
Cameron is having a gamble and taking a risk for the U.K.
Thinks big changes needed for EU.
Proposed referendum is additional uncertainty for Business.
There is a strong case for reform in the EU.
He must be there to do deals , still craves the limelight .
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Re: New EC Thread
malena stool Thu 24 Jan - 11:16
http://www.huffingtonpost.co.uk/2013/01/23/tony-blair-cameron-holding-gun-eu-referendum_n_2533656.html
Tony Blair: David Cameron 'Holding A Gun To His Own Head' With EU Referendum
PA/The Huffington Post | Posted: 23/01/2013 15:12 GMT | Updated: 23/01/2013 21:28 GMT
Tony Blair has suggested that Prime Minister David Cameron's pledge to hold a referendum on Europe was like holding a gun to his own head. The former premier said there was a "huge stab of anxiety" that the prospect of a British exit from the EU would be on the agenda for the next four or five years.
Mr Blair said the decision to make the promise reminded him of a scene in comedy Blazing Saddles where the sheriff threatened to blow his own brains out.He told BBC Radio 4's World At One programme: "To do that at this moment is a worry for any of us who have been through the European mill.
"Right now, these other European countries are in a very, very difficult state themselves.
"It reminds me a bit of the Mel Brooks comedy Blazing Saddles where the sheriff... holds a gun to his own head and says 'If you don't do what I want I'll blow my brains out'. "You want to watch one of the 26 don't just say 'Well, OK, go ahead'."
Mr Blair said he had been able to achieve "significant reforms" to the EU without threatening British exit - and that the lack of such an ultimatum was not to blame "for any shortcomings" in those efforts. He also told the BBC, Labour leader Ed Miliband was "absolutely right in a sense to say 'at this moment in time what is the point of putting on the agenda the prospect of Britain leaving'." "If I were Ed Miliband, I would keep my powder completely dry at the moment.
"I would say I'm going to see what Europe proposes, I'm going to see what David Cameron proposes and therefore see what is actually going to happen rising out of the euro crisis," he told Sky News.
Mr Blair said he could agree with "large parts" of the speech but dismissed the promise of a referendum as an attempt to placate Ukip and disgruntled Tory backbenchers. He told Sky News: "It's the climax to the speech that's the 10% that I'm afraid is really about the internal European problem in the Conservative party and how they placate this Ukip party and that is where you put on the agenda the prospect of Britain leaving Europe.
"That's not about our negotiation, that's about putting on the agenda the prospect of a British exit from Europe when, for four or five years, you can't answer the question 'Is Britain going to remain in the European Union or not?'"
Mr Blair added: "Europe does need Britain and Britain needs Europe, which is why the sensible thing to do is to argue the case for reform in Europe. "But the issue for me is why put that other question, why say we are actually going to put on the agenda the prospect of leaving altogether?
"Why would we do that?
"Why would we do that now when we don't know either what we are proposing, what the rest of Europe's proposing or what the outcome of these negotiations is going to be?"
Tony Blair: David Cameron 'Holding A Gun To His Own Head' With EU Referendum
PA/The Huffington Post | Posted: 23/01/2013 15:12 GMT | Updated: 23/01/2013 21:28 GMT
Tony Blair has suggested that Prime Minister David Cameron's pledge to hold a referendum on Europe was like holding a gun to his own head. The former premier said there was a "huge stab of anxiety" that the prospect of a British exit from the EU would be on the agenda for the next four or five years.
Mr Blair said the decision to make the promise reminded him of a scene in comedy Blazing Saddles where the sheriff threatened to blow his own brains out.He told BBC Radio 4's World At One programme: "To do that at this moment is a worry for any of us who have been through the European mill.
"Right now, these other European countries are in a very, very difficult state themselves.
"It reminds me a bit of the Mel Brooks comedy Blazing Saddles where the sheriff... holds a gun to his own head and says 'If you don't do what I want I'll blow my brains out'. "You want to watch one of the 26 don't just say 'Well, OK, go ahead'."
Mr Blair said he had been able to achieve "significant reforms" to the EU without threatening British exit - and that the lack of such an ultimatum was not to blame "for any shortcomings" in those efforts. He also told the BBC, Labour leader Ed Miliband was "absolutely right in a sense to say 'at this moment in time what is the point of putting on the agenda the prospect of Britain leaving'." "If I were Ed Miliband, I would keep my powder completely dry at the moment.
"I would say I'm going to see what Europe proposes, I'm going to see what David Cameron proposes and therefore see what is actually going to happen rising out of the euro crisis," he told Sky News.
Mr Blair said he could agree with "large parts" of the speech but dismissed the promise of a referendum as an attempt to placate Ukip and disgruntled Tory backbenchers. He told Sky News: "It's the climax to the speech that's the 10% that I'm afraid is really about the internal European problem in the Conservative party and how they placate this Ukip party and that is where you put on the agenda the prospect of Britain leaving Europe.
"That's not about our negotiation, that's about putting on the agenda the prospect of a British exit from Europe when, for four or five years, you can't answer the question 'Is Britain going to remain in the European Union or not?'"
Mr Blair added: "Europe does need Britain and Britain needs Europe, which is why the sensible thing to do is to argue the case for reform in Europe. "But the issue for me is why put that other question, why say we are actually going to put on the agenda the prospect of leaving altogether?
"Why would we do that?
"Why would we do that now when we don't know either what we are proposing, what the rest of Europe's proposing or what the outcome of these negotiations is going to be?"
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Re: New EC Thread
Panda Thu 24 Jan - 15:45
HE'S GOT A B****Y NERVE!!!
i THINK HE IS RIGHT ABOUT CAMERON WANTING TO PLACATE UKIP AND HIS OWN BACKBENCHERS THOUGH.
i THINK HE IS RIGHT ABOUT CAMERON WANTING TO PLACATE UKIP AND HIS OWN BACKBENCHERS THOUGH.
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Re: New EC Thread
Panda Thu 24 Jan - 16:00
Angela Merkel: we are prepared to talk about Britain's EU wishes
Germany is prepared to listen to Britain's wishes over the European Union and is willing to work towards finding a compromise, German Chancellor Angela Merkel said on Wednesday after Prime Minister David Cameron pledged to hold a referendum on Europe.
9:35PM GMT 23 Jan 2013
Claiming that public disillusionment with the 27-nation EU is "at an all-time high," David Cameron used a long-anticipated speech in London to say that the terms of Britain's membership in the bloc should be revised and the country's citizens should have a say.
German Chancellor Angela Merkel, speaking in Berlin, struck a conciliatory note in response to Mr Cameron's proposals.
"We are of course prepared to talk about British wishes, but we must always bear in mind that other countries have other wishes and we must, in the end, always find a fair compromise," she said.
But she added that she considered it a greater priority "to work out a common medium-term budget planning, because this also is the basis for growth in Europe, and it is also in Britain's interests that our economy pick up."
==========================
What about the recent decision by the EU to double payments to EU Farmers who keep part of their land fallow.? Even though some objected , the mass won the day even though there is proof that some Farmers are cheating.
Germany is prepared to listen to Britain's wishes over the European Union and is willing to work towards finding a compromise, German Chancellor Angela Merkel said on Wednesday after Prime Minister David Cameron pledged to hold a referendum on Europe.
9:35PM GMT 23 Jan 2013
Claiming that public disillusionment with the 27-nation EU is "at an all-time high," David Cameron used a long-anticipated speech in London to say that the terms of Britain's membership in the bloc should be revised and the country's citizens should have a say.
German Chancellor Angela Merkel, speaking in Berlin, struck a conciliatory note in response to Mr Cameron's proposals.
"We are of course prepared to talk about British wishes, but we must always bear in mind that other countries have other wishes and we must, in the end, always find a fair compromise," she said.
But she added that she considered it a greater priority "to work out a common medium-term budget planning, because this also is the basis for growth in Europe, and it is also in Britain's interests that our economy pick up."
==========================
What about the recent decision by the EU to double payments to EU Farmers who keep part of their land fallow.? Even though some objected , the mass won the day even though there is proof that some Farmers are cheating.
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Re: New EC Thread
malena stool Thu 24 Jan - 16:28
Panda wrote:HE'S GOT A B****Y NERVE!!!
i THINK HE IS RIGHT ABOUT CAMERON WANTING TO PLACATE UKIP AND HIS OWN BACKBENCHERS THOUGH.
Cameron would be ill advised to take the slightest notice of the self serving ramblings of a warmongering 'peace ambassador' such as Blair.
A 'leader' who during his term in office sent our service men and women into 5 wars in 6 years, a statistic greater than any other Prime Minister in history.
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Re: New EC Thread
Panda Thu 24 Jan - 16:48
France would 'roll out the red carpet' for UK's exit from EU
French Foreign Minister Laurent Fabius warns that leaving the EU would be dangerous for both Britain and Europe, but says the rules of the game cannot be changed half way through.
3:37PM GMT 23 Jan 2013
Mr Fabius told France Info radio that there could be no "Europe à la carte" in which a country picked which rules applied to it.
He warned that Britain could not simply change the terms: "Imagine Europeis a football club. You join the football club, but once you are in, you cannot say, 'let's play rugby'."
Mr Fabius said that he had told British businessmen recently that if Britain wants to leave Europe, France would "roll out the red carpet for you."
David Cameron promised on Wednesday to give Britons a straight referendum choice on whether to stay in the European Union or leave, provided he wins an election in 2015.
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Re: New EC Thread
Panda Thu 24 Jan - 16:58
European Union: Cameron prods Europe’s sore spot
24 January 2013
PresseuropLes Echos, Die Welt, Gazeta Wyborcza & 4 others
Peter Brookes
The British Prime Minister's speech on January 23 on the future of relations between his country and the EU has made the front pages of most European newspapers. The idea of a UK exit provokes reactions ranging from outrage to – more frequently – understanding.
There are also many newspapers that, like much of the British press, recognise that Cameron has raised legitimate questions that deserve answers at both the national and European levels.
In Paris, Les Echos believes that the speech outside the Bloomberg offices is a “dangerous gamble”. The economic daily does not hold back from comparing the PM to one of his predecessors.
In Germany, Die Welt believes that “Cameron has put his finger on EU's sore spot,” and, like the overwhelming majority of German commentators, finds the British Prime Minister's questions quite legitimate and even “liberating”.
“UK does not dream of some cosy, isolated existence on the fringes of Europe”, writes Gazeta Wyborcza commentator Tomasz Bielecki, recalling Margaret Thatcher's 1988 EU address. He notes that for Cameron, who, like Thatcher, is a strong critic of the EU, but at the same time an ardent proponent of the UK's continued membership in the European Community, a Brexit would be a fatal occupational accident, as it
In Stockholm, Svenska Dagbladet writes that Cameron is not the only one in Europe to express the idea that “accession to the EU should not be equivalent of buying a ticket for a ghost train that doesn't stop at any station and keeps heading towards an unknown destination.” Reactions to his speech were expected, the newspaper said: “Throughout Europe, we hear that the EU is not a buffet where everyone is free to choose whatever he wants.” “Is there really only one possible way?” asks the Svenska Dagbladet –
On the same wavelength, România liberă believes that the “flexible, adaptable and open” Union proposed by Cameron is a very serious enticement. The Bucharest daily notes that –
“Cameron is casting a shadow over the EU,” laments De Volkskrant for its part. The daily from Amsterdam, the city where the Prime Minister was initially to give his speech, nevertheless believes that the EU should take the project seriously if it wants to ensure its survival.
In Madrid, Lluis Bassets writes in El País that “Britain's view of Europe” looks more like a “mere free trade area.” The editor believes that –
24 January 2013
PresseuropLes Echos, Die Welt, Gazeta Wyborcza & 4 others
Peter BrookesThe British Prime Minister's speech on January 23 on the future of relations between his country and the EU has made the front pages of most European newspapers. The idea of a UK exit provokes reactions ranging from outrage to – more frequently – understanding.
There are also many newspapers that, like much of the British press, recognise that Cameron has raised legitimate questions that deserve answers at both the national and European levels.
In Paris, Les Echos believes that the speech outside the Bloomberg offices is a “dangerous gamble”. The economic daily does not hold back from comparing the PM to one of his predecessors.
Like Margaret Thatcher in her time, David Cameron is not concerned with the common interest of building an economically powerful - and necessarily politically powerful - Europe. His vision is of an à la carte Europe where you can be a member without having to accept all the constraints, without having to be in the eurozone or even in the Schengen area. However, if the euro crisis and the Greek bailout have been good for anything, it has been to show the need for a tighter integration of the European countries, notably in budgetary, fiscal and financial matters. At least among the 17 countries of the eurozone. This is clearly not David Cameron's goal.
In Germany, Die Welt believes that “Cameron has put his finger on EU's sore spot,” and, like the overwhelming majority of German commentators, finds the British Prime Minister's questions quite legitimate and even “liberating”.
Cameron is far from being alone with his analysis of the changes facing the EU and that cannot be answered with a simple 'Keep steering straight ahead'. [...] That the British Prime Minister tabled [a question regarding stabilising the eurozone by deepening EU integration] is not anti-European. It is no more anti-European of Cameron than his referring to the crisis of competitiveness afflicting the Union, which he blames partly on sclerotic management of the EU - this flood of rules and guidelines that are paralysing so many creative forces, and not just in the economy. And it's in no way anti-European to mention the creeping democratic deficit and the lack of citizens' confidence in the EU and its institutions. [...] The UK is following a “more practical than emotional” approach, it adds. That might be good for all of us.
“UK does not dream of some cosy, isolated existence on the fringes of Europe”, writes Gazeta Wyborcza commentator Tomasz Bielecki, recalling Margaret Thatcher's 1988 EU address. He notes that for Cameron, who, like Thatcher, is a strong critic of the EU, but at the same time an ardent proponent of the UK's continued membership in the European Community, a Brexit would be a fatal occupational accident, as it
would be a powerful blow against the union of 27 countries, and the eurozone would become the only centre of true integration surrounded by EU peripheries. For us [Poles] it is definitely much more dangerous than for the British. The Polish zloty is not the British pound, and the British Isles are not Poland with its not always easy neighbours. David Cameron's game should prompt us again to press ahead with concrete plans to enter the eurozone.
In Stockholm, Svenska Dagbladet writes that Cameron is not the only one in Europe to express the idea that “accession to the EU should not be equivalent of buying a ticket for a ghost train that doesn't stop at any station and keeps heading towards an unknown destination.” Reactions to his speech were expected, the newspaper said: “Throughout Europe, we hear that the EU is not a buffet where everyone is free to choose whatever he wants.” “Is there really only one possible way?” asks the Svenska Dagbladet –
Given by the how the EU works today, the answer is clearly no: Sweden is not in the eurozone. The UK is not part of the Schengen area and there are plenty of other examples. [...] The alternative for the British is to confront a wildly overgrown EU with the following questions: 'How? Why? To what end? Towards what destination?' These are questions that should be in the interests of all the member states and in the interests of the Union itself.
On the same wavelength, România liberă believes that the “flexible, adaptable and open” Union proposed by Cameron is a very serious enticement. The Bucharest daily notes that –
For the first time, a European leader has come forward with a vision of the EU that steps away from deeper political integration; a more modest but more liberal vision, and one more focused on the free market. So far, Romania has opted for the United States of Europe and the German model of the European Union. Now that there is another vision, our political leaders may soon perhaps engage in a real debate on the European model most advantageous for a country like ours - because the other countries of Europe will be sure to do so.
“Cameron is casting a shadow over the EU,” laments De Volkskrant for its part. The daily from Amsterdam, the city where the Prime Minister was initially to give his speech, nevertheless believes that the EU should take the project seriously if it wants to ensure its survival.
It will be tough to respond to the demands of Cameron without harming the European Union's structure. When one member state wishes to back out of some agreements, there will undoubtedly be other countries that want exceptions too. But a UK exit is not in the interest of the EU - and especially not in the interests of the Netherlands. This is why the European Commission and the other member states should take the British proposals seriously. In addition, the British initiative is giving Brussels food for thought: it would be foolish to rush ahead with integration projects if these endanger the unity of the European Union.
In Madrid, Lluis Bassets writes in El País that “Britain's view of Europe” looks more like a “mere free trade area.” The editor believes that –
For the Prime Minister, the EU is a mere tool, not a goal. Either the EU turns into something that the sceptics are willing to tolerate, or there will be no other choice but to leave. The cheekiness of the blackmail is notable [...] The Conservative dream is to have relations with a globalised world without going through the EU, and to use the EU as a single free trade area that has been as deregulated as possible. This is an idea that, on paper, might look attractive, but in reality faces a host of challenges. The most important is the difficulty of European countries, including the United Kingdom, to get by alone in a global world as if they were emerging powers and not old, former powers of Europe. Washington and Beijing lay the blame straightforwardly on Cameron: they prefer to deal with London through a strong EU.”
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Re: New EC Thread
Badboy Fri 25 Jan - 19:48
I READ YESTERDAY THAT THERE APPEARS TO BE A TERRORIST CAMPAIGN,A BOMB EXPLODED AT A SUPERMARKET
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Re: New EC Thread
Panda Sat 26 Jan - 9:42
Badboy wrote:I READ YESTERDAY THAT THERE APPEARS TO BE A TERRORIST CAMPAIGN,A BOMB EXPLODED AT A SUPERMARKET
The social unrest in Greece and Spain will not go away Badboy and how many generations will it take to repay the bail-outs from the ECB.?
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Re: New EC Thread
Panda Sat 26 Jan - 10:11
Greece crisis: Athens 10-day metro strike ends
Police stormed a metro train depot to break up a sit-in, as Claire Brennan reports
Continue reading the main story
Eurozone crisis
A 10-day strike by metro workers in the Greek capital, Athens, has ended after the government threatened them with arrest unless they returned to work.
Although a protest by some public transport workers continued, the metro reopened at around 15:00 (13:00 GMT).
Police earlier stormed a metro depot in the city, breaking up a workers' sit-in. Traffic was gridlocked as commuters struggled to work by car.
Athens is trying to implement austerity measures unpopular with trade unions.
The strike action over planned pay cuts had crippled the underground system as the Athens metro, trams and suburban railway serve more than 1.1 million passengers daily.
"I am pleased that the urban rail workers restarted the network, and passengers are even more pleased," Transport Minister Costis Hadzidakis said.
But Athens's transport network continued to suffer disruption on Friday evening despite metro services resuming, as bus workers remained on strike in solidarity with their union colleagues.
And various transport workers were preparing to march towards Athens' main Syntagma Square later - the scene of sometimes-violent protests in recent years.
'Exploring legal options'
The civil mobilisation order issued by the government on Thursday threatened metro workers with dismissal, arrest and even imprisonment.
It was the first time the conservative-led coalition had invoked a 2007 emergency law to deal with "peace-time emergencies".
The Athens metro, trams and suburban railway serve 1.1 million people daily
Such emergency legislation has only been used nine times since the collapse of Greece's military dictatorship in 1974.
"The workers who were handed the notice didn't have a choice," said Manthos Tsakos, general secretary of the main metro workers' union. "We are exploring legal options."
Other transport workers had joined the striking metro workers in solidarity on Friday and a big rally was planned to protest against a public sector unified wage scheme that would see their salaries reduced by up to 25%.
The police operation at the metro depot took place shortly before 04:00, with about 100 riot police officers entering the area where workers had barricaded themselves overnight.
A police spokesman told the BBC three people had been arrested and subsequently released.
'No repeats'
Under the terms of its massive international bailout, the Greek government has had to accept substantial spending cuts, such as redundancies and pay freezes in the public sector, and reduced pensions.
The austerity programme has had a major impact on the economy, with the unemployment rate hitting 26.8% earlier this month - the highest figure recorded in the EU.
Athens commuters had faced gridlock on the roads on Friday morning
But Prime Minister Antonis Samaras delivered a tough message to Greeks on Thursday evening.
"The Greek people have made huge sacrifices and I cannot allow any exceptions," he said.
Referring to the metro strike, he warned: "Everyone should understand we will not repeat the mistakes of the past."
His junior coalition partner, the Democratic Left, criticised the use of the civil mobilisation order as "an extreme choice" and urged more dialogue. But party sources quoted by the Kathimerini newspaper said the issue would not split the three-party coalition.
Socialist Pasok leader Evangelos Venizelos backed Mr Samaras's decision, calling the strike "unacceptable".
Greece's colossal debt mountain and struggle to reduce it fuelled speculation last year that Greece might have to abandon the euro.
So far, the European Central Bank, International Monetary Fund, and the European Commission have pledged a total of 240bn euros ($315bn; £196bn) in rescue loans, of which Greece has received more than two-thirds.
Police stormed a metro train depot to break up a sit-in, as Claire Brennan reports
Continue reading the main story
Eurozone crisis
A 10-day strike by metro workers in the Greek capital, Athens, has ended after the government threatened them with arrest unless they returned to work.
Although a protest by some public transport workers continued, the metro reopened at around 15:00 (13:00 GMT).
Police earlier stormed a metro depot in the city, breaking up a workers' sit-in. Traffic was gridlocked as commuters struggled to work by car.
Athens is trying to implement austerity measures unpopular with trade unions.
The strike action over planned pay cuts had crippled the underground system as the Athens metro, trams and suburban railway serve more than 1.1 million passengers daily.
"I am pleased that the urban rail workers restarted the network, and passengers are even more pleased," Transport Minister Costis Hadzidakis said.
But Athens's transport network continued to suffer disruption on Friday evening despite metro services resuming, as bus workers remained on strike in solidarity with their union colleagues.
And various transport workers were preparing to march towards Athens' main Syntagma Square later - the scene of sometimes-violent protests in recent years.
'Exploring legal options'
The civil mobilisation order issued by the government on Thursday threatened metro workers with dismissal, arrest and even imprisonment.
It was the first time the conservative-led coalition had invoked a 2007 emergency law to deal with "peace-time emergencies".
The Athens metro, trams and suburban railway serve 1.1 million people daily Such emergency legislation has only been used nine times since the collapse of Greece's military dictatorship in 1974.
"The workers who were handed the notice didn't have a choice," said Manthos Tsakos, general secretary of the main metro workers' union. "We are exploring legal options."
Other transport workers had joined the striking metro workers in solidarity on Friday and a big rally was planned to protest against a public sector unified wage scheme that would see their salaries reduced by up to 25%.
The police operation at the metro depot took place shortly before 04:00, with about 100 riot police officers entering the area where workers had barricaded themselves overnight.
A police spokesman told the BBC three people had been arrested and subsequently released.
'No repeats'
Under the terms of its massive international bailout, the Greek government has had to accept substantial spending cuts, such as redundancies and pay freezes in the public sector, and reduced pensions.
The austerity programme has had a major impact on the economy, with the unemployment rate hitting 26.8% earlier this month - the highest figure recorded in the EU.
Athens commuters had faced gridlock on the roads on Friday morning But Prime Minister Antonis Samaras delivered a tough message to Greeks on Thursday evening.
"The Greek people have made huge sacrifices and I cannot allow any exceptions," he said.
Referring to the metro strike, he warned: "Everyone should understand we will not repeat the mistakes of the past."
His junior coalition partner, the Democratic Left, criticised the use of the civil mobilisation order as "an extreme choice" and urged more dialogue. But party sources quoted by the Kathimerini newspaper said the issue would not split the three-party coalition.
Socialist Pasok leader Evangelos Venizelos backed Mr Samaras's decision, calling the strike "unacceptable".
Greece's colossal debt mountain and struggle to reduce it fuelled speculation last year that Greece might have to abandon the euro.
So far, the European Central Bank, International Monetary Fund, and the European Commission have pledged a total of 240bn euros ($315bn; £196bn) in rescue loans, of which Greece has received more than two-thirds.
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Unemployment in 17 nation b loc rises to 11.9%
Panda Mon 28 Jan - 14:45
Euro Crisis Seen Reaping Social Toll With Record Jobless
By Scott Hamilton - Jan 28, 2013 11:35 AM GMT
Euro-area jobless data this week will expose the social cost of last year’s debt crisis and recession on southern European economies as unemployment across the region probably rose to a record in December.
Unemployment in the 17-nation bloc climbed for a fifth month to 11.9 percent, according to the median of 34 economists’s forecasts in a Bloomberg News survey. That result due on Feb. 1 would show the highest jobless rate since records began in 1995. By contrast, German unemployment data the day before may show the jobless rate there held steady for a fourth month at 6.9 percent in January, a separate survey found.
Enlarge image
Euro Crisis Seen Reaping Social Toll With Record Unemployment
Angel Navarrete/Bloomberg
Fran Lopez, a jobless electrician, checks his mobile phone on a street bench near his home in Madrid, Spain. Photographer:
Fran Lopez, a jobless electrician, checks his mobile phone on a street bench near his home in Madrid, Spain. Photographer: Photographer: Angel Navarrete/Bloomberg
4:39
Jan. 23 (Bloomberg) -- Spanish expatriates Carlos Hernandez Sonseca, Raquel del Rosario and Pablo Medina talk about their decisions to leave their home country and seek jobs in Britain. They spoke with Bloomberg's Carol Olona in London on Jan. 18. (Source: Bloomberg)
7:59
Jan. 24 (Bloomberg) -- Anand Mahindra, chairman of Mahindra & Mahindra Ltd., discusses business sentiment, global employment growth and India's economy. He speaks with Bloomberg HT's Ozlem Dalga on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland. (Source: Bloomberg)
10:38
Jan. 22 (Bloomberg) -- John Studzinski, senior managing director at Blackstone Group LP, talks about the outlook for the World Economic Forum's annual meeting in Davos, Switzerland. Studzinski speaks with Erik Schatzker in Davos on Bloomberg Television's "Market Makers." (Source: Bloomberg)
Enlarge image
Euro Crisis Seen Taking Social Toll With Record Unemployment
David Ramos Vidal/Bloomberg
A sign reading "employment office" sits on the windows of an employment center in Barcelona.
A sign reading "employment office" sits on the windows of an employment center in Barcelona. Photographer: David Ramos Vidal/Bloomberg
While measures to stem the region’s debt turmoil have helped reduce sovereign bond yields from Spain to Greece, the recession and crisis have led to job cuts by companies and governments. The European Central Bank predicts the currency bloc’s economy will shrink 0.3 percent this year and President Mario Draghi said last week that the “jury is still out” on whether investor optimism can be reflected in economic momentum.
“The worst may be over for financial markets, but definitely not for the real economy,” Marco Valli, chief euro- area economist at UniCredit Global Research in Milan, said by telephone. “The unemployment situation is going to remain very poor at least for another year, if not longer.”
Spanish Unemployment
The euro was trading at $1.3445 at 11:33 a.m. in London, down 0.1 percent on the day. The Stoxx Europe 600 Index (SXXP) was little changed at 289.52.
Spanish data last week showed a record 26 percent of the workforce without jobs in the fourth quarter, bringing the total close to 6 million people. In Greece, the rate was even higher in October, at 26.8 percent, also a record.
“Companies are still shedding labor, especially in southern Europe,” Martin Van Vliet, an economist at ING Groep NV in Amsterdam, said in an interview. “Unemployment will probably continue to trend higher in the next couple of months.”
While economists predict the German unemployment rate will stay unchanged, they still see an increase of 8,000 people without work this month from December, according to the median forecast of 31 economists in a Bloomberg news survey.
The euro-area economy has shrunk for two successive quarters and economists predict a further 0.4 percent decline in gross domestic product in the final three months of last year, according to the median of 26 estimates in a Bloomberg survey. The International Monetary Fund on Jan. 23 cut its global growth forecast and projected a second year of contraction in the euro region.
Tensions Ease
While investor confidence in Germany, Europe’s largest economy, rose to the highest in 2 1/2 years this month as debt tensions ease, high unemployment and continued austerity measures elsewhere are undermining household sentiment and spending. An index of euro-area economic confidence probably rose to the highest level since June, according to median estimate in a Bloomberg News survey of 30 economists.
“We’re in the phase of financial conditions improving and markets becoming more optimistic, but that has to feed through to the real economy,” ING’s Van Vliet said.
ECB Governing Council member Luc Coene said he would prefer the central bank’s as-yet-untapped bond-buying program to stay that way and it’s now up to governments to generate growth in the euro area.
‘Shallow’ Recovery
“There is only so much a central bank can do,” Coene, who heads Belgium’s central bank, said in an interview at the World Economic Forum in Davos, Switzerland, on Jan. 26. “Governments can make the adjustments that are needed to make the economy grow again. We are going to hear that message this year again and again. The next move won’t be from the ECB.”
No country has yet asked for a bailout that could trigger bond buying by the ECB after Draghi’s rescue plan, announced in July, ended a wave of panic in euro-region debt markets. The currency block will see a “shallow” recovery starting this year as long as leaders don’t hesitate to implement measures to reduce debt and increase competitiveness, Coene said.
France needs an economic overhaul to revive growth and help underpin the political union required to stabilize the euro region, Harvard economist Kenneth Rogoff said.
European governments’ policy responses to the debt crisis, such as a “half-hearted” banking union and national budget oversight by the European Commission, aren’t enough, Rogoff was quoted as saying in an interview published in German newspaper Die Welt today. Leaders need to start now with a push toward political integration that includes a European government with taxation powers, he told the Berlin-based daily.
‘Small Adjustment’
If governments follow through on their promises in the coming months, underlying momentum could mean the ECB will revise its prediction that the euro-area economy will contract by 0.3 percent this year, Coene said.
“When you look at the latest indicators in Germany, they point to a stronger underlying base of activity than was assumed,” he said. “If there is any adjustment to happen, it will be a small adjustment, and probably rather on the upside than the downside.”
Mark Carney, who is due to take over as Bank of England governor in July, said policy makers should secure “escape velocity” for their economies and there’s room for more monetary stimulus around the world. Policy in developed countries isn’t “maxed out” and central bankers can be flexible in meeting inflation goals, Carney, currently governor of the Bank of Canada, said on Jan. 26 in Davos.
‘Tough’ Conditions
Alongside the euro-area unemployment data, Eurostat, the European Union’s statistics office, will also release data on consumer prices for January. The annual inflation rate will remain at 2.2 percent compared with December, according to the median of 39 economists’ forecasts in a survey.
Euro-area economic conditions will be “tough” in the first half before a wider recovery takes hold in 2014, according to Patrick de Maeseneire, chief executive officer of Adecco SA (ADEN), the world’s biggest supplier of temporary workers.
This year “is not going to be a good year,” De Maeseneire said in an interview on Jan. 25. “The first six months will be tough, especially in France, especially in southern Europe,” he said. “Germany is also slowing down, we see automotive slowing down, and that’s going to have an effect on the surrounding economies.”
Job Cuts
PSA Peugeot Citroen (UG), Europe’s second-largest carmaker, said last month it will eliminate an additional 1,500 jobs by 2014, on top of 8,000 announced in July.
“Job shedding continues because it’s clear the euro zone economy is still in recession,” said UniCredit’s Valli. Still, “what we’re seeing right now is all the preconditions that are necessary in order to have some sort of economic improvement. Nothing in the near term, but down the road.”
Elsewhere in Europe, a report today from Hometrack Ltd. showed U.K. house prices stagnated in January as concern about the debt crisis and the impact of the British government’s fiscal squeeze hit demand. Prices in England and Wales were unchanged from December, the property researcher said.
U.S. government reports today may show durable goods orders and pending homes sales rose last month, according to Bloomberg News surveys. Unemployment in the world’s largest economy was probably unchanged at 7.8 percent in January, according to the median forecast in a Bloomberg survey of economists before Labor Department figures Feb. 1.
By Scott Hamilton - Jan 28, 2013 11:35 AM GMT
Euro-area jobless data this week will expose the social cost of last year’s debt crisis and recession on southern European economies as unemployment across the region probably rose to a record in December.
Unemployment in the 17-nation bloc climbed for a fifth month to 11.9 percent, according to the median of 34 economists’s forecasts in a Bloomberg News survey. That result due on Feb. 1 would show the highest jobless rate since records began in 1995. By contrast, German unemployment data the day before may show the jobless rate there held steady for a fourth month at 6.9 percent in January, a separate survey found.
Enlarge image
Euro Crisis Seen Reaping Social Toll With Record Unemployment
Angel Navarrete/Bloomberg
Fran Lopez, a jobless electrician, checks his mobile phone on a street bench near his home in Madrid, Spain. Photographer:
Fran Lopez, a jobless electrician, checks his mobile phone on a street bench near his home in Madrid, Spain. Photographer: Photographer: Angel Navarrete/Bloomberg
4:39
Jan. 23 (Bloomberg) -- Spanish expatriates Carlos Hernandez Sonseca, Raquel del Rosario and Pablo Medina talk about their decisions to leave their home country and seek jobs in Britain. They spoke with Bloomberg's Carol Olona in London on Jan. 18. (Source: Bloomberg)
7:59
Jan. 24 (Bloomberg) -- Anand Mahindra, chairman of Mahindra & Mahindra Ltd., discusses business sentiment, global employment growth and India's economy. He speaks with Bloomberg HT's Ozlem Dalga on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland. (Source: Bloomberg)
10:38
Jan. 22 (Bloomberg) -- John Studzinski, senior managing director at Blackstone Group LP, talks about the outlook for the World Economic Forum's annual meeting in Davos, Switzerland. Studzinski speaks with Erik Schatzker in Davos on Bloomberg Television's "Market Makers." (Source: Bloomberg)
Enlarge image
Euro Crisis Seen Taking Social Toll With Record Unemployment
David Ramos Vidal/Bloomberg
A sign reading "employment office" sits on the windows of an employment center in Barcelona.
A sign reading "employment office" sits on the windows of an employment center in Barcelona. Photographer: David Ramos Vidal/Bloomberg
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While measures to stem the region’s debt turmoil have helped reduce sovereign bond yields from Spain to Greece, the recession and crisis have led to job cuts by companies and governments. The European Central Bank predicts the currency bloc’s economy will shrink 0.3 percent this year and President Mario Draghi said last week that the “jury is still out” on whether investor optimism can be reflected in economic momentum.
“The worst may be over for financial markets, but definitely not for the real economy,” Marco Valli, chief euro- area economist at UniCredit Global Research in Milan, said by telephone. “The unemployment situation is going to remain very poor at least for another year, if not longer.”
Spanish Unemployment
The euro was trading at $1.3445 at 11:33 a.m. in London, down 0.1 percent on the day. The Stoxx Europe 600 Index (SXXP) was little changed at 289.52.
Spanish data last week showed a record 26 percent of the workforce without jobs in the fourth quarter, bringing the total close to 6 million people. In Greece, the rate was even higher in October, at 26.8 percent, also a record.
“Companies are still shedding labor, especially in southern Europe,” Martin Van Vliet, an economist at ING Groep NV in Amsterdam, said in an interview. “Unemployment will probably continue to trend higher in the next couple of months.”
While economists predict the German unemployment rate will stay unchanged, they still see an increase of 8,000 people without work this month from December, according to the median forecast of 31 economists in a Bloomberg news survey.
The euro-area economy has shrunk for two successive quarters and economists predict a further 0.4 percent decline in gross domestic product in the final three months of last year, according to the median of 26 estimates in a Bloomberg survey. The International Monetary Fund on Jan. 23 cut its global growth forecast and projected a second year of contraction in the euro region.
Tensions Ease
While investor confidence in Germany, Europe’s largest economy, rose to the highest in 2 1/2 years this month as debt tensions ease, high unemployment and continued austerity measures elsewhere are undermining household sentiment and spending. An index of euro-area economic confidence probably rose to the highest level since June, according to median estimate in a Bloomberg News survey of 30 economists.
“We’re in the phase of financial conditions improving and markets becoming more optimistic, but that has to feed through to the real economy,” ING’s Van Vliet said.
ECB Governing Council member Luc Coene said he would prefer the central bank’s as-yet-untapped bond-buying program to stay that way and it’s now up to governments to generate growth in the euro area.
‘Shallow’ Recovery
“There is only so much a central bank can do,” Coene, who heads Belgium’s central bank, said in an interview at the World Economic Forum in Davos, Switzerland, on Jan. 26. “Governments can make the adjustments that are needed to make the economy grow again. We are going to hear that message this year again and again. The next move won’t be from the ECB.”
No country has yet asked for a bailout that could trigger bond buying by the ECB after Draghi’s rescue plan, announced in July, ended a wave of panic in euro-region debt markets. The currency block will see a “shallow” recovery starting this year as long as leaders don’t hesitate to implement measures to reduce debt and increase competitiveness, Coene said.
France needs an economic overhaul to revive growth and help underpin the political union required to stabilize the euro region, Harvard economist Kenneth Rogoff said.
European governments’ policy responses to the debt crisis, such as a “half-hearted” banking union and national budget oversight by the European Commission, aren’t enough, Rogoff was quoted as saying in an interview published in German newspaper Die Welt today. Leaders need to start now with a push toward political integration that includes a European government with taxation powers, he told the Berlin-based daily.
‘Small Adjustment’
If governments follow through on their promises in the coming months, underlying momentum could mean the ECB will revise its prediction that the euro-area economy will contract by 0.3 percent this year, Coene said.
“When you look at the latest indicators in Germany, they point to a stronger underlying base of activity than was assumed,” he said. “If there is any adjustment to happen, it will be a small adjustment, and probably rather on the upside than the downside.”
Mark Carney, who is due to take over as Bank of England governor in July, said policy makers should secure “escape velocity” for their economies and there’s room for more monetary stimulus around the world. Policy in developed countries isn’t “maxed out” and central bankers can be flexible in meeting inflation goals, Carney, currently governor of the Bank of Canada, said on Jan. 26 in Davos.
‘Tough’ Conditions
Alongside the euro-area unemployment data, Eurostat, the European Union’s statistics office, will also release data on consumer prices for January. The annual inflation rate will remain at 2.2 percent compared with December, according to the median of 39 economists’ forecasts in a survey.
Euro-area economic conditions will be “tough” in the first half before a wider recovery takes hold in 2014, according to Patrick de Maeseneire, chief executive officer of Adecco SA (ADEN), the world’s biggest supplier of temporary workers.
This year “is not going to be a good year,” De Maeseneire said in an interview on Jan. 25. “The first six months will be tough, especially in France, especially in southern Europe,” he said. “Germany is also slowing down, we see automotive slowing down, and that’s going to have an effect on the surrounding economies.”
Job Cuts
PSA Peugeot Citroen (UG), Europe’s second-largest carmaker, said last month it will eliminate an additional 1,500 jobs by 2014, on top of 8,000 announced in July.
“Job shedding continues because it’s clear the euro zone economy is still in recession,” said UniCredit’s Valli. Still, “what we’re seeing right now is all the preconditions that are necessary in order to have some sort of economic improvement. Nothing in the near term, but down the road.”
Elsewhere in Europe, a report today from Hometrack Ltd. showed U.K. house prices stagnated in January as concern about the debt crisis and the impact of the British government’s fiscal squeeze hit demand. Prices in England and Wales were unchanged from December, the property researcher said.
U.S. government reports today may show durable goods orders and pending homes sales rose last month, according to Bloomberg News surveys. Unemployment in the world’s largest economy was probably unchanged at 7.8 percent in January, according to the median forecast in a Bloomberg survey of economists before Labor Department figures Feb. 1.
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George Soros, one of the most outspoken critics of Germany’s proposed austerity policies to solve the European debt crisis, said the euro is here to stay and will gain as other nations seek to devalue their currencies.
Billionaire George Soros. Photographer: Akos Stiller/Bloomberg
7:35
Jan. 25 (Bloomberg) -- Siemens AG Chief Executive Officer Peter Loescher discusses growth in the energy market and the impact of a higher euro on the region's competitiveness. He talks with Francine Lacqua on Bloomberg Television's "Countdown" on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland. (Source: Bloomberg)
24:39
Jan. 25 (Bloomberg) -- European Central Bank President Mario Draghi talks about the global economy, policy measures and banking regulation. He speaks with John Lipsky, former special adviser to the managing director of the International Monetary Fund, at the World Economic Forum's annual meeting in Davos, Switzerland. (Source: Bloomberg/World Economic Forum)
4:15
Jan. 25 (Bloomberg) -- European Central Bank President Mario Draghi, International Monetary Fund Managing Director Christine Lagarde, billionaire investor George Soros, French Finance Minister Pierre Moscovici, Italian Finance Minister Vittorio Grilli and Deutsche Bank AG co-Chief Executive Officer Anshu Jain discuss the challenges facing European policy makers in 2013. They spoke at the World Economic Forum's annual meeting in Davos, Switzerland. (Source: Bloomberg/World Economic Forum)
Soros, who made $1 billion shorting the British pound in 1992, said that while the causes of the euro crisis haven’t been solved, the acute phase of the turmoil is over.
Germany will always do “the minimum” to preserve the currency, Soros said yesterday at the World Economic Forum in Davos, Switzerland. He forecast a “tense” two years for the euro region.
The Bloomberg Billionaires Index
Yields on sovereign debt of countries from Spain to Greece have fallen since European Central Bank President Mario Draghi announced an as-yet-untapped bond-purchase plan in September last year. Soros, reiterating his view that austerity is the wrong policy at this time, said the German insistence on tight fiscal and monetary policies means the euro will appreciate as other countries pursue more expansive policies, a situation that may lead to a currency war.
“Currencies have been remarkably stable in the last few years,” Soros said. “Now there is the making of more fireworks, more volatility.”
Soros said at the same event last year that the German-led policies risked creating tensions that could destroy the European Union. In a speech in April, he said the Bundesbank, Germany’s central bank, was taking steps to limit potential losses if the euro splintered, creating a “self-fulfilling prophecy.”
Japan’s Moves
Bundesbank President Jens Weidmann has denied taking such steps, calling the allegations “ridiculous.”
Weidmann this week criticized moves by Japan’s Prime Minister Shinzo Abe to devalue the yen, saying such measures risked “politicizing” the yen’s exchange rate. Soros said the extent to which Japan can push its currency lower will be limited by what the U.S. is willing to tolerate.
The momentum is for the “euro to rise and yen to fall,” Soros said. “I generally don’t know how far things go but I can see which way they are going.”
Soros said countries can only grow their way out of excessive debt and should avoid policies that lead to contractions. The U.S., the world’s largest economy, has “pretty good underlying dynamics,” he said.
Soros Fortune
“If the fiscal cliff and those issues are resolved, and the U.S. economy picks up, I think interest rates are likely to rise,” he said.
Soros, who has a $21.2 billion fortune, according to the Bloomberg Billionaires Index, said there is “definitely” no near-term risk of credit bubbles, a topic that several delegates at the conference discussed yesterday.
“There is an asset bubble in China in real estate, sustained by lending in the quasi-banking system,” he said. “The real estate market in China is rising again. That, I think, is a potential bubble because of the source of financing.”
Billionaire George Soros. Photographer: Akos Stiller/Bloomberg
7:35
Jan. 25 (Bloomberg) -- Siemens AG Chief Executive Officer Peter Loescher discusses growth in the energy market and the impact of a higher euro on the region's competitiveness. He talks with Francine Lacqua on Bloomberg Television's "Countdown" on the sidelines of the World Economic Forum's annual meeting in Davos, Switzerland. (Source: Bloomberg)
24:39
Jan. 25 (Bloomberg) -- European Central Bank President Mario Draghi talks about the global economy, policy measures and banking regulation. He speaks with John Lipsky, former special adviser to the managing director of the International Monetary Fund, at the World Economic Forum's annual meeting in Davos, Switzerland. (Source: Bloomberg/World Economic Forum)
4:15
Jan. 25 (Bloomberg) -- European Central Bank President Mario Draghi, International Monetary Fund Managing Director Christine Lagarde, billionaire investor George Soros, French Finance Minister Pierre Moscovici, Italian Finance Minister Vittorio Grilli and Deutsche Bank AG co-Chief Executive Officer Anshu Jain discuss the challenges facing European policy makers in 2013. They spoke at the World Economic Forum's annual meeting in Davos, Switzerland. (Source: Bloomberg/World Economic Forum)
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Soros, who made $1 billion shorting the British pound in 1992, said that while the causes of the euro crisis haven’t been solved, the acute phase of the turmoil is over.
Germany will always do “the minimum” to preserve the currency, Soros said yesterday at the World Economic Forum in Davos, Switzerland. He forecast a “tense” two years for the euro region.
The Bloomberg Billionaires Index
Yields on sovereign debt of countries from Spain to Greece have fallen since European Central Bank President Mario Draghi announced an as-yet-untapped bond-purchase plan in September last year. Soros, reiterating his view that austerity is the wrong policy at this time, said the German insistence on tight fiscal and monetary policies means the euro will appreciate as other countries pursue more expansive policies, a situation that may lead to a currency war.
“Currencies have been remarkably stable in the last few years,” Soros said. “Now there is the making of more fireworks, more volatility.”
Soros said at the same event last year that the German-led policies risked creating tensions that could destroy the European Union. In a speech in April, he said the Bundesbank, Germany’s central bank, was taking steps to limit potential losses if the euro splintered, creating a “self-fulfilling prophecy.”
Japan’s Moves
Bundesbank President Jens Weidmann has denied taking such steps, calling the allegations “ridiculous.”
Weidmann this week criticized moves by Japan’s Prime Minister Shinzo Abe to devalue the yen, saying such measures risked “politicizing” the yen’s exchange rate. Soros said the extent to which Japan can push its currency lower will be limited by what the U.S. is willing to tolerate.
The momentum is for the “euro to rise and yen to fall,” Soros said. “I generally don’t know how far things go but I can see which way they are going.”
Soros said countries can only grow their way out of excessive debt and should avoid policies that lead to contractions. The U.S., the world’s largest economy, has “pretty good underlying dynamics,” he said.
Soros Fortune
“If the fiscal cliff and those issues are resolved, and the U.S. economy picks up, I think interest rates are likely to rise,” he said.
Soros, who has a $21.2 billion fortune, according to the Bloomberg Billionaires Index, said there is “definitely” no near-term risk of credit bubbles, a topic that several delegates at the conference discussed yesterday.
“There is an asset bubble in China in real estate, sustained by lending in the quasi-banking system,” he said. “The real estate market in China is rising again. That, I think, is a potential bubble because of the source of financing.”
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France Seeks to Turn Tables on U.K. Over Cameron EU Exit Talk
By James Hertling - Jan 23, 2013 11:43 AM GMT
France’s Socialist government has appealed to British business leaders concerned about a possible U.K. exit from the European Union to cross the English Channel.
“If Great Britain decides to leave Europe, we will roll out the red carpet for you,” French Finance Minister Laurent Fabius told a U.K. business group recently, he recounted on France Info radio today.
Enlarge image
French Foreign Minister Laurent Fabius
Bertrand Guay/AFP/Getty Images
French Foreign Minister Laurent Fabius said, “You can’t do Europe a la carte. It risks being dangerous for Great Britain itself.”
French Foreign Minister Laurent Fabius said, “You can’t do Europe a la carte. It risks being dangerous for Great Britain itself.” Photographer: Bertrand Guay/AFP/Getty Images
2:20
Jan. 23 (Bloomberg) -- U.K. Prime Minister David Cameron says he's in favor of holding a referendum on whether Britain should leave the European Union, allowing U.K. voters to decide on breaking up the 27-nation bloc. He spoke today at Bloomberg's European headquarters in London. (This report is an excerpt. Source: Bloomberg)
4:31
Jan. 23 (Bloomberg) -- Kenneth Rogoff, an economics professor at Harvard University and a former chief economist at the International Monetary Fund, talks about Europe's sovereign-debt crisis and the U.S. economy. Rogoff speaks with Tom Keene on Bloomberg Television's "Surveillance" on the sidelines of the World Economic Forum in Davos, Switzerland. (Source: Bloomberg)
Fabius’s proposition contrasts with Britain’s bid to exploit higher taxes imposed by France last year. In October, London Mayor Boris Johnson sought to woo talented French immigrants to the U.K. capital away from the “tyranny” he says they were suffering under President Francois Hollande’s tax increases.
“We say to the people, not since 1789 has there been such tyranny in France,” Johnson joked, referring to the year of the French revolution. “I am very keen to welcome talented French people to London.” He noted that there are already 240,000 French nationals in the capital.
Fabius’s turn came as U.K. Prime Minister David Camerongave a speech promising voters a referendum on whether Britain should leave the EU and backing a single economic market as opposed to the political union among 27 nations.
“You can’t do Europe a la carte,” Fabius said. “It risks being dangerous for Great Britain itself.”
By James Hertling - Jan 23, 2013 11:43 AM GMT
France’s Socialist government has appealed to British business leaders concerned about a possible U.K. exit from the European Union to cross the English Channel.
“If Great Britain decides to leave Europe, we will roll out the red carpet for you,” French Finance Minister Laurent Fabius told a U.K. business group recently, he recounted on France Info radio today.
Enlarge image
French Foreign Minister Laurent Fabius
Bertrand Guay/AFP/Getty Images
French Foreign Minister Laurent Fabius said, “You can’t do Europe a la carte. It risks being dangerous for Great Britain itself.”
French Foreign Minister Laurent Fabius said, “You can’t do Europe a la carte. It risks being dangerous for Great Britain itself.” Photographer: Bertrand Guay/AFP/Getty Images
2:20
Jan. 23 (Bloomberg) -- U.K. Prime Minister David Cameron says he's in favor of holding a referendum on whether Britain should leave the European Union, allowing U.K. voters to decide on breaking up the 27-nation bloc. He spoke today at Bloomberg's European headquarters in London. (This report is an excerpt. Source: Bloomberg)
4:31
Jan. 23 (Bloomberg) -- Kenneth Rogoff, an economics professor at Harvard University and a former chief economist at the International Monetary Fund, talks about Europe's sovereign-debt crisis and the U.S. economy. Rogoff speaks with Tom Keene on Bloomberg Television's "Surveillance" on the sidelines of the World Economic Forum in Davos, Switzerland. (Source: Bloomberg)
Fabius’s proposition contrasts with Britain’s bid to exploit higher taxes imposed by France last year. In October, London Mayor Boris Johnson sought to woo talented French immigrants to the U.K. capital away from the “tyranny” he says they were suffering under President Francois Hollande’s tax increases.
“We say to the people, not since 1789 has there been such tyranny in France,” Johnson joked, referring to the year of the French revolution. “I am very keen to welcome talented French people to London.” He noted that there are already 240,000 French nationals in the capital.
Fabius’s turn came as U.K. Prime Minister David Camerongave a speech promising voters a referendum on whether Britain should leave the EU and backing a single economic market as opposed to the political union among 27 nations.
“You can’t do Europe a la carte,” Fabius said. “It risks being dangerous for Great Britain itself.”
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Re: New EC Thread
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"We say to the people, not since 1789 has there been such tyranny in France,” Johnson joked, referring to the year of the French revolution. “I am very keen to welcome talented French people to London.” He noted that there are already 240,000 French nationals in the capital. "
See what I mean about Boris
See what I mean about Boris
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Greece: ‘No way to earn our bread here’
28 January 2013I Kathimerini Athens
Tools
Immigrants collecting recyclable items in Athens. May 23, 2012.
AFP
Victims of the crisis and its consequences, non-European migrants have started to head home. In a centre in Athens, they talk bitterly of the setback that repatriation represents for them.
Kostas Onisenko
"We will only look back on the good things in your country. We will remember the Greeks who helped us and who didn’t see us as enemies, but we are leaving because there is no longer any way to earn our bread here.”
The immigrants, who had come to the International Organisation for Migration (IOM) mission in the southern suburbs of Athens to apply for voluntary repatriation, were responding to our request for a brief evaluation of their experience in Greece. Most of them told us that when they arrived in the country years earlier, they were torn between feelings of fear and hope. Now the prospect of a return to earlier chapters of their lives inspires only fear.
Nurul Astoutik, 23, looks helpless when she tells us she will be leaving Greece for Iraq. For the last three years, the young Indonesian woman has lived in our country, where she works as a household help. Her fiancé, Yahya Awantin, 33, is from Iraq. He arrived in "the wonderland of Greece" in 2004 and found work in construction. For years, everything was fine. Then came the day when salaries began to fall and his request for asylum was rejected.
Only one choice
Yahya and Nurul, who are both Muslims, were married a few months ago in one of the improvised mosques that have opened up in Athens. Their union, which is official in the eyes of God and the Muslim community, is not recognised by Greek state documents. "We cannot stay here because there is no work, and we cannot even obtain papers to get married normally," explains Yahya. "No, I did not want to leave Greece, but I don’t have the choice. We will go to Iraq and see what happens."
Every day dozens of immigrants wait for repatriation documents at the IOM, and each of them has a story to tell. "The Greeks are nice and hospitable. But the economic situation in the country is not good, and in this kind of situation, people become harder," says David Abbas: a 26-year-old who paid €4,000 to “smugglers who brought him to Greece” from Pakistan.
“I have a diploma in company management and a lot of experience repairing computers" he says in English. In Greece, however, he mainly worked for farmers: "I have been living in Skala, in the Peloponnese region, and I’ve come to Athens to file papers for me to go home. There is no work, and I don’t know what else to do,” he explains, before being interrupted by a countryman who asks for help in communicating with the IOM staff. "He is trying to go back too, but he doesn’t speak English or Greek," says David. Then he adds, “I will never forget Greece, in spite of the difficulties and the injustices I’ve experienced… A few months ago, I was attacked near Victoria Square in Athens. My father is begging me to go home all the time. He is quite old. He could die, and I’m afraid that I won’t be in time to see him."
Tide turns
Sar Ibrahim, 24, is from Senegal, a country that most Greeks would not be able to find on a map. He tells us that in the five years that he stayed in Greece, he had no opportunity to make friends. "The only Greeks I met were farmers who gave me work. And I didn’t have much communication even with them,” he says. “I worked in the olive groves. Today I have no more money, because I spent everything that I saved when I had no more work. Today I am worried for myself, for my future, and for my family. But I am leaving Greece."
Since the end of 2010, the IOM has received 14,000 applications from immigrants in Greece who want to return to their home countries. Everyday, dozens of people join the queues at its offices, which have recently been growing longer.
Increase in attacks
According to the authorities, the reasons why people want to be repatriated are mainly to do with rising unemployment, the impossibility of obtaining residency permits (which prevents them from travelling to other countries), and the attacks which have targeted immigrants.
In 2012 a total of 6,324 people — most of whom were from Afghanistan, Pakistan, Bangladesh and Iraq, — left Greece with the IOM program, and a further 800 were repatriated by a scheme funded by Norway. Among them, about 360 took part in resettlement programmes that included special assistance for opening businesses, or training, which were provided as an incentive to help them stay in their country.
On the web
Italy
Immigrants strike out for Northern Europe
In Italy as well, thousands of immigrants who have lost their jobs because of the economic crisis are leaving the country. Some are going home, but most, who want to stay in Europe, are heading north, writes La Repubblica, reporting from Treviso in the north-east. “Workers and entrepreneurs who took out loans to pay for their housing had a specific project,” the newspaper writes,
28 January 2013I Kathimerini Athens
Tools
Immigrants collecting recyclable items in Athens. May 23, 2012.
AFP
Victims of the crisis and its consequences, non-European migrants have started to head home. In a centre in Athens, they talk bitterly of the setback that repatriation represents for them.
Kostas Onisenko
"We will only look back on the good things in your country. We will remember the Greeks who helped us and who didn’t see us as enemies, but we are leaving because there is no longer any way to earn our bread here.”
The immigrants, who had come to the International Organisation for Migration (IOM) mission in the southern suburbs of Athens to apply for voluntary repatriation, were responding to our request for a brief evaluation of their experience in Greece. Most of them told us that when they arrived in the country years earlier, they were torn between feelings of fear and hope. Now the prospect of a return to earlier chapters of their lives inspires only fear.
Nurul Astoutik, 23, looks helpless when she tells us she will be leaving Greece for Iraq. For the last three years, the young Indonesian woman has lived in our country, where she works as a household help. Her fiancé, Yahya Awantin, 33, is from Iraq. He arrived in "the wonderland of Greece" in 2004 and found work in construction. For years, everything was fine. Then came the day when salaries began to fall and his request for asylum was rejected.
Only one choice
Yahya and Nurul, who are both Muslims, were married a few months ago in one of the improvised mosques that have opened up in Athens. Their union, which is official in the eyes of God and the Muslim community, is not recognised by Greek state documents. "We cannot stay here because there is no work, and we cannot even obtain papers to get married normally," explains Yahya. "No, I did not want to leave Greece, but I don’t have the choice. We will go to Iraq and see what happens."
Every day dozens of immigrants wait for repatriation documents at the IOM, and each of them has a story to tell. "The Greeks are nice and hospitable. But the economic situation in the country is not good, and in this kind of situation, people become harder," says David Abbas: a 26-year-old who paid €4,000 to “smugglers who brought him to Greece” from Pakistan.
“I have a diploma in company management and a lot of experience repairing computers" he says in English. In Greece, however, he mainly worked for farmers: "I have been living in Skala, in the Peloponnese region, and I’ve come to Athens to file papers for me to go home. There is no work, and I don’t know what else to do,” he explains, before being interrupted by a countryman who asks for help in communicating with the IOM staff. "He is trying to go back too, but he doesn’t speak English or Greek," says David. Then he adds, “I will never forget Greece, in spite of the difficulties and the injustices I’ve experienced… A few months ago, I was attacked near Victoria Square in Athens. My father is begging me to go home all the time. He is quite old. He could die, and I’m afraid that I won’t be in time to see him."
Tide turns
Sar Ibrahim, 24, is from Senegal, a country that most Greeks would not be able to find on a map. He tells us that in the five years that he stayed in Greece, he had no opportunity to make friends. "The only Greeks I met were farmers who gave me work. And I didn’t have much communication even with them,” he says. “I worked in the olive groves. Today I have no more money, because I spent everything that I saved when I had no more work. Today I am worried for myself, for my future, and for my family. But I am leaving Greece."
Since the end of 2010, the IOM has received 14,000 applications from immigrants in Greece who want to return to their home countries. Everyday, dozens of people join the queues at its offices, which have recently been growing longer.
Increase in attacks
According to the authorities, the reasons why people want to be repatriated are mainly to do with rising unemployment, the impossibility of obtaining residency permits (which prevents them from travelling to other countries), and the attacks which have targeted immigrants.
In 2012 a total of 6,324 people — most of whom were from Afghanistan, Pakistan, Bangladesh and Iraq, — left Greece with the IOM program, and a further 800 were repatriated by a scheme funded by Norway. Among them, about 360 took part in resettlement programmes that included special assistance for opening businesses, or training, which were provided as an incentive to help them stay in their country.
On the web
- Original article at I Kathimerini el
- Summary of the International Organisation for Migration programme en
- La Repubblica article it
Italy
Immigrants strike out for Northern Europe
In Italy as well, thousands of immigrants who have lost their jobs because of the economic crisis are leaving the country. Some are going home, but most, who want to stay in Europe, are heading north, writes La Repubblica, reporting from Treviso in the north-east. “Workers and entrepreneurs who took out loans to pay for their housing had a specific project,” the newspaper writes,
The project was to stay in Italy for good and go back to Morocco and Bangladesh only for the holidays. To visit family and show everyone that their business has been successful. [...] ‘Many people who have lost their jobs in factories or shut down their SMEs, are returning home before they spend all of their life savings or are seeking a future abroad,’ explains a Moroccan cultural mediator. ‘In France, Germany, the Netherlands and Belgium, there is still a strong welfare system. There is a lot of help given in finding housing and employment. According to a charity worker, ‘the worst off are the children and young people who have to leave school to go back to their parents’ country, which they have never seen.’
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Mario Draghi confronts Berlin over contagion from Cyprus default
Leading European Union officials have warned Germany it would be a grave mistake to let Cyprus default or to impose losses on private creditors, fearing a repeat of errors made when Greece first flew out of control.
Mario Draghi told Der Spiegel that Cypriot banks are big enough to pose a systemic risk to the eurozone Photo: AFP
By Ambrose Evans-Pritchard
7:00AM GMT 29 Jan 2013
23 Comments
Mario Draghi, the European Central Bank’s chief, said a collapse of EU debt talks with Cyprus or a forced restructuring would “undo the positive mood” that has calmed European markets since July.
Mr Draghi told Der Spiegel that Cypriot banks are big enough to pose a systemic risk to the eurozone. They conduct 40pc of their operations in Greece and are a key part of the Greek banking system.
In a jab at German finance minister Wolfgang Schauble – a lawyer – Mr Draghi said banking experts rather than lawyers should make the judgment on contagion risks from Cyprus. His comments came after Mr Schauble suggested that Cyprus is too small to matter.
A chorus of voices in the Bundestag insists on tough terms for the island,
citing a leaked report from Germany’s intelligence services that Nicosia is a money-laundering hub for the Russian mafia. German Social Democrats say they will not back funds for “organised crime”, leaving Chancellor Angela Merkel scrambling for votes to push through a rescue.
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Cyprus may need €17bn (£14.6bn) in aid, almost 100pc of GDP. Its banking liabilities are €130bn, or six times the economy, with shades of Iceland five years ago.
No deal is likely until after the elections this month since the EU no longer wants to deal with Communist president Demetris Cristofias, who rejects EU-IMF austerity as a “failed recipe”.
Olli Rehn, the EU’s currency chief, fears that failure to back Cyprus could once again shatter trust, setting off fresh capital flight .
“It’s essential that everybody realises that a disorderly default of Cyprus could lead to an exit of Cyprus from the eurozone,” he said. “It would be extremely stupid to take any risk of that nature.”
Dmitris Drakopoulos from Nomura said forced haircuts would violate an EU pledge not to repeat private losses imposed in Greece. “If they mishandle this, it could be dangerous for Portugal. Who could then be sure they wouldn’t do the same there ?” he said.
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it is true that there is a lot of Russian money pouring into Northern Cyprus, they own the Casinos, Hotels, Properties, my friend sold her house a couple of years ago to a woman who said she was buying it for her Son and she was paid E100,000 in CASH. Cyprus asked Russia months ago for financial help but didn't succeed.
Leading European Union officials have warned Germany it would be a grave mistake to let Cyprus default or to impose losses on private creditors, fearing a repeat of errors made when Greece first flew out of control.
Mario Draghi told Der Spiegel that Cypriot banks are big enough to pose a systemic risk to the eurozone Photo: AFP
By Ambrose Evans-Pritchard
7:00AM GMT 29 Jan 2013
23 Comments Mario Draghi, the European Central Bank’s chief, said a collapse of EU debt talks with Cyprus or a forced restructuring would “undo the positive mood” that has calmed European markets since July.
Mr Draghi told Der Spiegel that Cypriot banks are big enough to pose a systemic risk to the eurozone. They conduct 40pc of their operations in Greece and are a key part of the Greek banking system.
In a jab at German finance minister Wolfgang Schauble – a lawyer – Mr Draghi said banking experts rather than lawyers should make the judgment on contagion risks from Cyprus. His comments came after Mr Schauble suggested that Cyprus is too small to matter.
A chorus of voices in the Bundestag insists on tough terms for the island,
citing a leaked report from Germany’s intelligence services that Nicosia is a money-laundering hub for the Russian mafia. German Social Democrats say they will not back funds for “organised crime”, leaving Chancellor Angela Merkel scrambling for votes to push through a rescue.
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Cyprus may need €17bn (£14.6bn) in aid, almost 100pc of GDP. Its banking liabilities are €130bn, or six times the economy, with shades of Iceland five years ago.
No deal is likely until after the elections this month since the EU no longer wants to deal with Communist president Demetris Cristofias, who rejects EU-IMF austerity as a “failed recipe”.
Olli Rehn, the EU’s currency chief, fears that failure to back Cyprus could once again shatter trust, setting off fresh capital flight .
“It’s essential that everybody realises that a disorderly default of Cyprus could lead to an exit of Cyprus from the eurozone,” he said. “It would be extremely stupid to take any risk of that nature.”
Dmitris Drakopoulos from Nomura said forced haircuts would violate an EU pledge not to repeat private losses imposed in Greece. “If they mishandle this, it could be dangerous for Portugal. Who could then be sure they wouldn’t do the same there ?” he said.
==================
it is true that there is a lot of Russian money pouring into Northern Cyprus, they own the Casinos, Hotels, Properties, my friend sold her house a couple of years ago to a woman who said she was buying it for her Son and she was paid E100,000 in CASH. Cyprus asked Russia months ago for financial help but didn't succeed.
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