Europe
Government advisor: EU green targets are just 'political rhetoric'; 'costs will be enormous'
The IHT has a special report on energy. Professor Dieter Helm of Oxford University - who is advising the UK Government on the matter - describes the EU's target of reducing emissions by 20% and sourcing 20% of energy from renewables by 2020 as "political rhetoric" to give the EU a stronger negotiating position at global talks on climate change, but doubts that other large emitters will regard the targets as credible.
Professor Helm said that "for many countries, the costs will be enormous" and warned that it was a mistake for the EU to focus so closely on renewables: "wind farms on the Outer Hebrides aren't going to scratch the surface... What we need is a low carbon option, not just renewables, and that means you have to bring nuclear power into the equation."
Open Europe research
Gangs using EU migrant workers to milk UK benefits
A Channel 4 News undercover investigation has revealed widespread organised benefit fraud by Eastern European gangs around Britain. The gangs, from the latest countries to join the EU, are trafficking people into Britain and exploiting their identities to milk the benefit system. The men are made to work long hours in factories, but receive only £50 a week, while the traffickers earn thousands of pounds a month. The reporter said: "It may come as a surprise, but as EU citizens Czechs and Slovaks are entitled to virtually the same benefits here as British nationals. With an EU passport, you can get a National Insurance number; then you can claim." Criminals are also using fake birth certificates to make benefit claims for children that do not exist. He said: "You'd think there would be strict checks. But this form says all you need is your EU passport, and your child's birth certificate. Quite legitimately, Czechs and Slovaks can claim £18.95 a week for a child who has never been to the UK. And for fraudsters, we found that foreign birth certificates are easy to fake."
Channel 4 News Express - no link
EU Commissioner to quit with 346,000 euro 'golden handshake'
Irish daily the Evening Herald reports that EU Commissioner Charlie McCreevy will receive a "golden handshake" of 346,000 euros when he retires next year. It is noted that McCreevy, who currently earns 231,000 euros a year, will also benefit from a 48,000 euros a year pension in addition to the 346,000 euros payment when he turns 65. And this will come on top of the ministerial and TD pensions he will get from his days as Irish Finance Minister. He will also be entitled to a pension and "transitional remuneration" from the EU. That will be paid for a three-year period after leaving his EU office, entitling him to 50pc of his basic salary, working out at 115,512 euros a year. His retirement will cause a headache for Irish PM Brian Cowan, who will want avoid a by-election due to his falling popularity and following the Irish rejection of the Lisbon Treaty, the Irish Times reports.
Irish Times Irish Times 2
Commission wants EU-wide smoking ban
The European Commission is planning to start consultations on an EU-wide smoking ban in bars and cafés, EUobserver reports. EU Social Affairs Commissioner Vladimir Spidla, quoted in EUobserver, said that any ban would not come into place until the next Commission is appointed, and explained that the planned discussions on a blanket ban were "to start the debate and get the ball rolling". Currently only a minority of EU states have imposed a smoking ban in workplaces.
EUobserver
Euro falls amid fears over German recession;
Brown holds crisis talks with Sarkozy and Merkel on economic crisis
The Irish Independent reports that the euro fell sharply yesterday after a survey of German business expectations revealed fears of a deep recession in the EU's largest economy. The Ifo survey was blamed for the euro's rapid slide on the currency market yesterday, with the single currency diving against both the dollar and Japanese yen.
The Express reports that Gordon Brown and French President Nicolas Sarkozy are holding talks in Paris today on the economic crisis facing Europe. The talks come ahead of German Chancellor Angela Merkel's visit to London on Thursday.
Writing in the WSJ Karel Lannoo argues that the EU needs to design a new "financial services action plan" to prevent a repeat of the current financial crisis in the future. He argues that further EU institutional and regulatory integration is the answer to the financial crisis: "Some commentators have argued that the financial crisis has set back progress toward EU integration by 15 years. The EU can demonstrate that this is not the case by rapidly drawing the lessons from the crisis and taking it as a challenge for a further step in European integration."
Express Irish Independent WSJ-Lannoo
Barber: divergence in eurozone government bond markets raises questions over EMU
The WSJ reports that "Yields on Greek and Italian 10-year government bonds rose to new highs relative to those from Germany on Monday, showing how investors are pricing in diverging levels of risk as they ponder a long-lasting recession in the euro zone."
On the FT Brussels blog Tony Barber argues that "[widening bond yield spreads] hint at a degree of uncertainty among investors about the cohesion of the 15-nation eurozone itself - namely, whether Greece and Italy are economically strong and fiscally disciplined enough to share the same currency with Germany over the long term. This would not be an issue, of course, if the eurozone were like the US and had a central fiscal authority to transfer revenues between flourishing states and states suffering an economic shock. But you cannot have a central fiscal authority without a much greater shift in the direction of European political union than most politicians, taxpayers and voters appear ready to contemplate."
Steve Richards argues in the Independent, "That great sleeping issue, Britain's membership of the euro, will be waking soon." He writes that "Mr Brown's most successful policy [Bank of England independence] could be the source of his undoing as he faces the electoral consequences over decisions he does not control. I wonder how long it will be before a traumatised senior minister thinks the following: 'This wretched independence for the Bank is the worst of all worlds, yet it would make matters even worse to revert to the old arrangements. Therefore the least risky course is to join the euro'."
Independent Richards FT blog Open Europe blog WSJ
Lord Tebbit: UK can never be part of federal Europe
Following his calls for a referendum on the UK's membership of the EU, Lord Tebbit argues in the Telegraph today that the UK will not be suited to the type of federal Europe as envisaged by Valéry Giscard d'Estaing. Tebbit notes that "the global financial crisis has emphasised that the EU cannot continue as it is" because, he argues, "the retreat of countries within the eurozone into unilateral protectionism to save their own banks has illuminated the fatal weakness of the euro". He goes on to say that successive governments have "simply pretended that there was no plan for a European state", and calls for new thinking on Europe: "It is time for the euro-sceptics of all kinds to design the architecture of a European home in which there is a place for states seeking ever closer union as well as for those upholding national sovereignty".
Telegraph Tebbit
Commission delays tax harmonisation plans
Agence Europe reports that the EU Commission has decided to postpone publication of its plans to harmonise the common consolidated corporate tax rate (CCCTB) until next year or the year after. Last month EU Tax Commissioner Laszlo Kovacs said that his department was busy preparing a detailed impact study and comprehensive legislative package for what Agence Europe describes as the Commission's "most ambitious tax plans".
No link
The Irish Independent reports that Ireland's Parliament ratified 145 EU and international treaties last year, which follows growing calls in Ireland for future EU treaties to be ratified without a referendum to avoid embarrassing no votes and the prospect of re-runs.
Irish Independent
Mandelson accused of hiding behind EU code of conduct
The Times reports that MEPs yesterday accused Peter Mandelson of hiding behind the EU code of conduct to avoid admitting the full extent of his involvement with the Russian oligarch Oleg Deripask. They also called on the EU to revise the code of conduct. Graham Watson, leader of the Alliance of Liberals and Democrats in the EP, said: "Peter Mandelson has been wrong because the code of conduct is intended to apply to private and public life. But the code clearly needs tightening because Peter Mandelson can argue that, because he was on holiday, it does not count. We will press to have it tightened to clear up any future grey areas." Currently, there is no need for commissioners to declare any hospitality received on holiday, or on professional trips, beyond the receipt of gifts worth more than 150 euros.
Times
IMF prepares $10bn bailout as Hungary threatens to be first EU economy to fail.
Times Irish Times BBC Daily Mail
On November 10, the Czech Constitutional Court will give its verdict on the Lisbon's Treaty's compatibility with the country's Constitution, following questioning by the Senate.
Euractiv
Greece has reiterated that it will not allow Macedonia to join Nato and the European Union until the long running "name row" is settled.
Sofia Echo
Le Figaro reports that since EU observers were sent to Georgia on October 1, incidents between Georgian and separatist forces have multiplied.
Le Figaro
Centre-right parties begin coalition talks in Lithuania.
Irish Times
UK
A ComRes poll for the Independent shows the Conservative lead has slumped from 19 to eight points over the last two months.
Independent
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