Elul 1, 5777, 8/23/2017
European debt crisis More Than 3 Million Vote In Left's Open Primaries In ItalyEmulating the French Socialists, Italy's Democratic Party staged a primary in the hope that this will pave way to electoral victory. Loss Of EU Membership Major Roadblock For Would-Be SeparatistsConvergence and Unity, the moderate Catalan nationalist party, expects to get a vote of confidence to pursue independence. Downgrading Threatens Bailout Funds; Budget Talks SnarledThe problems facing the French economy also threaten the European Union as a whole. German Coalition Finds Something For Everyone With Eye To VotersTo increase reelection prospects the German coalition is increasing welfare spending. EU Tries To Reconcile Differences On Spending And PrioritiesThe EU is racing the clock to find a compromise on its 7 year budget. Spain Pressed To End Its Vacillations On Accepting A BailoutSpain's Mariano Rajoy is being pressed to decide on whether Spain wants or rejects a bailout. Economic Crisis Drives Catalan Independence AspirationsThe economic crisis is unraveling the compromise reached on regional autonomy in Spain 11 European States Chart Course For A Federal Europe With ArmyEurope is making moves towards forming a federal state with a military capacity. Dutch Elections And Constitutional Decision In Germany Cheer EUThe defeat of explicitly anti-EU parties in Dutch elections and German court's ruling on constitutionality of ESM avert crisis - for now. Francois Hollande Outlines Path To €30 Billion Deficit SlashFrancois Hollande has outlined his blueprint for taming the French budget deficit. No one is pleased. French Pessimism Returns Three Months After Hollande's VictoryFrancoise Hollande, who briefly inspired hope in both France and Southern Europe, no longer offers any. Greek PM Samaras Faces Stiff Headwind In Pleas For More TimeThe statements coming out of Germany are intended to tell Greek PM Samaras not to imagine renegotiating bailout. The Austerity In Spain Is Forcing Desperate MeasuresSpain's economic crisis is felt in schools, supermarkets and rubbish bins. Italian Commentator Accuses Germany Of Establishing 4th ReichItaly and Spain have sought to get the ECB to purchase their bonds. Germany has blocked this approach, stirring resentment. The News From Europe on the Economy Is Universally DepressingThe euro rallied today, but there are strong doubts it can keep up the pretense, given the succession of bad news. Germany's rating is down. Regional Excess Spending Aggravates European Debt CrisisThe indebted regions have aggravated the financial plight of Spain and Italy and may lose some competencies. Coalition Embraces Growth By Betting On InfrastructuresAttempting to jump-start a sagging economy, Britain will underwrite loans to infrastructure projects. Italian PM Lashes Out At 'Inappropriate' Remarks by EU MembersEuropean finance ministers hit resistance while trying to stave off a rout prompted by skyrocketing interest charges on Spanish debt. Romanian Government Criticized for Toying With ConstitutionRumania, with looming financial crisis, is drawing criticism for tinkering with the constitution to impeach President Basescu French Socialists Now Face The Challenge Of Balancing The BudgetDespite calls for slashing government spending from the national audit, the Socialist government of France is signalling higher taxation. Cyprus Takes Over Rotating EU Presidency With Low ExpectationsSmall countries that are economically endangered don't usually make successful European presidents. MPs Want Referendum Now; Cameron Says Maybe LaterDavid Cameron is increasingly hemmed in by Europe's evolution to greater centralization while his MPs call for getting out of EU. Harper Rules Out Canadian Cash For European BailoutsCanadian Prime Minister chided European leaders for lack of resolution and adhering to extravagant social spending. With Majority In National Assembly, French Socialists In ControlThe French Socialists scored an absolute majority in the legislative elections, the first time they have accomplished this since 1981. Antonis Samaras Will Have No Honeymoon After Narrow VictoryThe victory of New Democracy provides temporary relief for the Eurozone but the onerous problems remain. Hollande Warned By Germans As He Collects Allies Against MerkelThe simmering feud over policy between Germany and France was evident last week. Bank Bailout In Spain Fails To Quell Questions On Debt RepaymentThe usual cycle of solution, temporary euphoria and return to nervousness accompanied the Spanish bank bailout. Spain Wants Bailout Without Calling It By NameSpain wants direct help to its troubled banking system claims it is a cheaper alternative. EU Commission Gives France Polite Warning About Deficit ControlFeeling its way with the new French president, the EU reminds France that its obligations remain in force. After Rebellious Fling In May 6 Elections Greeks More RealisticGreece very much wants to stay in the Euro and fears the consequences of an exit. This may shift the vote in the rerun of the elections. Merkel For Once Plays Good Cop Finance Ministers Are Bad CopsThe EU hopes that some reality checks like a bank run coupled with growth promises will produce a positive Greek vote. Breakdown Of Greek Coalition Talks Push Greece To Euro ExitAs hopes dim that Greece will abide by the austerity package, there is increasing acceptance that Greece may leave the euro. Sinn Fein Asks Irish To Join Anti Austerity Revolt And Nix PactThe elections in France and Greece have narrowed the odds on Irish approval of the European Stability Pact. After Elections, Greek Implementation Of Bailout Terms Now IffyIt will be hard to put a coherent Greek government together, increasing jitters in the Eurozone. Hollande's Expected Victory Casts Shadow On Franco-German MotorFor now the financial markets are discounting Francois Hollande's campaign pledges as mere rhetoric. The Breakup Of The EU Becomes A Campaign Issue In EuropeThe current financial crisis has stirred resentment against the EU and strengthened calls for restoring national sovereignty.. Sarkozy Offer Of Referendum Reflects Legislative RoadblockEven though his offer of a referendum reflects constitutional reality, Sarkozy's position further unnerves EU. Sarkozy Trades Barbs With EU Partisans As He Woos Le Pen VotersThe success of anti-EU candidate Marine Le Pen has caused a slanging match between the EU and French politicians. EU Ambassador Denies That EU Takes Anti-Israel PositionAmbassador Andrew Standley defended EU Mideast policy before skeptical journalists and conceded that the EU was facing its worst crisis. Spanish Interest Rises As Debt Expected To Balloon This YearInvestors are getting jittery about Europe with Spain becoming the epicenter of the crisis Pirate Party Success Dents Image Of German System's StabilityThe surprising surge in the polls of the German Pirate party has shaken assumptions about German stability. Merkel Got Her Second Bailout But Faces Increasing OppositionAngela Merkel got a lopsided vote in the Bundestag favoring a bailout but is facing growing dissent in her coalition and public opinion. |
