Monday, May 31, 2010
White Seattle Teen Victim of Hate Crime
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Restore white dominance in the United States and such terrible tales will be history, as such racist dogs would have the fear of God put into their dark hearts and be sent swiftly packing to whatever country they belong.
The United States by Grand Design (White and Christian)
Renew America by Restoring White Dominance
Sunday, May 30, 2010
SESTAK: "No comment"
Obama's Sestak Bribery Cover-up By Daniel Foster National Review |
A tip of the cap to White House counsel on preparing a memo that, on its face, would appear to let a bit of air out of charges of wrongdoing. But some of it just isn't scanning. Let's look back at what Rep. Sestak told local TV host Larry Kane in February. KANE: "Were you ever offered a federal job to get out of this race?" SESTAK: "Yes." KANE: "Was it secretary of the Navy?" SESTAK: "No comment" Later Kane asks again, "Was there a job offered to you by the White House?" to which Sestak nods and replies "yes, someone offered it." Kane asks "It was big right?" Sestak replies, "Let me "no comment" on it." "Was it high-ranking?" Kane asked. Sestak said yes. That was February. |
Read More and Comment: |
Review of "Cracking the Qu'ran Code" by Fazal ur Rehman Afridi
Read more:
Review of "Cracking the Qu'ran Code" by Fazal ur Rehman Afridi
Imagine There's No Border
Pajamasmedia — May 20, 2010 — The Audacity of Arizona. The Grand Canyon State decides it's going to enforce immigration policy and everybody goes crazy. Andrew and his wonder dog Virtue offer in-depth analysis of America's border folly. http://www.pjtv.com/.
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The United States by Grand Design (White and Christian)
President Teddy Roosevelt said, "The one absolutely certain way of bringing this nation to ruin, of preventing all possibility of its continuing as a nation at all, would be to permit it to become a tangle of squabbling nationalities."
(read more ...)
Renew America by Restoring White Dominance
We must renew America by restoring the racial dominance of people of white color as our former immigration policy insured (that the treacherous drunk and murderer Senator Ted Kennedy perverted in 1965).
(read more ...)
Friday, May 28, 2010
Discrete Interventions (German Mercenaries in Somalia)
MOGADISHU/BERLIN (Own report) - The scandal caused by the planned dispatching of more than 100 German mercenaries to Somalia, is further evidence of the expansion of German private security companies. The CEO of the Asgaard German Security Group (based in Telgte, close to Muenster in North Rhine Westphalia) has confirmed that the company plans to dispatch a triple-digit sized group of armed personnel to Somalia to support a local warlord, who has declared himself the country's president. Whereas the German foreign ministry dissociates itself from the action, demands are growing in the West that alternatives be sought considering the policies of the EU and the USA toward Somalia to be fruitless. Activities of security companies, such as Asgaard, are intensifying abroad. They are cooperating on a regular basis with several foreign business associations, such as the German-Africa Business Association or the German-Iraqi Business Association (MIDAN), protecting German personnel in war and crisis zones. Berlin's Federal College for Security Studies is closely observing the development of this private industry of repression, which, according to its president, allows interventions that are "much less noticeable" than the usual military deployments.
more
http://www.german-foreign-policy.com/en/fulltext/56346
Open Europe press summary: 28 May 2010
Europe
French Europe Minister: Through eurozone bailout we have "De facto changed the treaty";
Franco-German relations at an all-time low
In an interview with the FT, French Europe Minister Pierre Lellouche has said that the eurozone's €440bn debt guarantee scheme marks an "unprecedented" change to the EU treaties. "It is an enormous change," Mr Lellouche said. "It explains some of the reticence. It is expressly forbidden in the treaties by the famous no bail-out clause. De facto, we have changed the treaty," he added. "The €440bn mechanism is nothing less than the importation of Nato's Article 5 mutual defence clause applied to the eurozone. When one member is under attack the others are obliged to come to its defence."
Mr Lellouche rejected suggestions that the Franco-German relationship had broken down because of tensions over the Greek and eurozone bail-out plans. But he conceded that it required a lot of effort to make the relationship work, likening the current challenge to postwar reconciliation between the two countries. "To hold out our hands and offer a partnership of equals with Germany required a lot of vision. That's a bit what it is like today." He added that France accepted as "normal" that Germany now asserted its own national interests, Mr Lellouche said. "Since when did we expect Germany to act as cash cow indefinitely?"
Wirtschaftswoche reports that relations between France and Germany - particularly between President Nicolas Sarkozy and Chancellor Angela Merkel - have reached a new low. It notes that Germany was angered by Sarkozy's claim that "95 percent" of the eurozone rescue deal corresponded to French demands. "In this government one can talk anti-French without being punished", an experienced German Christian Democrat source notes, adding "that wasn't the case at the time of [Chancellor] Kohl". The article suggests that relations between Sarkozy and Merkel are at such a low ebb that "Merkel likes to imitate the vain behaviour of the little Frenchman, thereby making friends in her party laugh during the late hours."
The Economist's Charlemagne column argues, "Anger and denial are hardly surprising. Germans were promised that the single currency would be the old Deutschmark in new clothes, backed by Teutonic discipline and a fiercely independent central bank. Arguably, that fantasy Deutschmark died early on May 10th, when a euro-zone bail-out mechanism was agreed and the European Central Bank started buying government bonds by the bucket load. Germans are now in mourning. How they recover is not just their problem, but Europe's".
A leader in the IHT argues, "Now, at the worst possible moment, Germany is turning to nationalist illusions." Writing in the FT, Phillip Stephens argues, "Angela Merkel has begun to sound awfully like Margaret Thatcher."
Die Welt reports that a new poll for ARD has found that 78% of respondents are dissatisfied with Angela Merkel's performance as Chancellor, and only 20% are satisfied.
Open Europe research Open Europe press release FT WSJ FT: Stephens Economist: Charlemagne IHT Wirtschaftswoche Die Welt
Commission considers suggestion for raising retirement age to 70
FT Deutschland reports that the Commission's draft 'green book' on pensions is suggesting that EU workers should work longer hours and retire later, or risk a "painful combination of smaller payouts and higher contributions". The green book is just a source of advice for member states, designed to provoke debate, which sometimes leads to legislative proposals. The Commission paper suggests that by 2060, Europeans will live, on average, seven years longer. This would mean extending the retirement age to almost 70 in order to maintain the balance of not spending more than a third of adult life, over 18 years, in retirement. The Commission's green book is to be presented before the summer break.
EUobserver FT Deutschland Sueddeutsche
The Express reports on EU President Herman Van Rompuy's comments that the "man on the street" has been misled over the implications of the euro. The article cites Open Europe's briefing "They said it: How the EU elite got it wrong on the euro", and quotes Open Europe saying: "More than 10 years since the euro was launched, and with the single currency facing its greatest ever crisis, the parameters have radically changed."
Express Open Europe briefing Open Europe press release
Outgoing head of EU military staff: Single EU military HQ is unworkable
AFP reports that the outgoing British head of the European Union's military staff, Lieutenant-General David Leakey, said yesterday that the French-led drive for a single EU military command centre was unworkable, adding: "There is not a one-sized feasible solution, neither from the point of view of politics nor from the pratical, military one". Concerning the current situation, where the lead nation on missions hosts the HQ, he said: "The lead nation has a moral responsibility and puts its political weight behind (efforts) to make sure it's a success. If you have a permanent HQ mandated on a multinational basis, then you would lose an ownership of those operations."
Spanish parliament approves austerity package by just one vote
The Times reports that Spanish PM José Luis Rodríguez Zapatero narrowly managed to get a €15bn austerity package, including a 5 percent cut in public sector wages, through parliament yesterday, winning by only a single vote. The Telegraph reports that public sector unions have called a strike on 8 June to protest what they describe as an act of "ultimate aggression" against the people. The article notes that Italy has announced €24bn worth of cuts over two years, with PM Silvio Berlusconi saying, "Italy's spending is out of control: this irresponsible system worked as long as we could devalue the currency."
In the WSJ, Iain Martin writes, "In terms of European thinking about the state and its obligations, it shouldn't be underestimated how significant the consequences of these developments are likely to be. The way large parts of Europe have liked to conduct business - with high social spending, and costs loaded on the next generation - has run smack into two roadblocks: market fears about unsustainable debts and demographic change."
On Swedish news site Europaportalen, political consultant Jesper Katz argues that "because of the eurozone, the [economic] crisis could for many years remain hidden by the overheating which came about as a result of low interest rates...it's impossible to separate the present European misery from the eurozone experiment."
Meanwhile, the WSJ looks at the long term possibility of Greece restructuring its debt, reporting that in 2012 the country is expected to be generating enough money to fund itself, and would be borrowing just to fund its interest payments, noting that "In that situation, it could better afford to restructure and presumably anger lenders."
FT 2 Le Monde Europaportalen: Katz Guardian Times City AM Irish Independent Le Monde EUobserver BBC EurActiv IHT WSJ Telegraph WSJ: Martin
US Treasury Secretary says EU and US in "broad agreement" over financial reform
US Treasury Secretary Tim Geithner has said there is broad agreement between the US and EU over introducing "more conservative restraints on capital and leverage", but said that regulation should not be so drastic as to "create headwinds to the economic recovery".
He added: "But it's clear one also has to keep in mind that the traditions and structures of the financial sectors in the US are naturally quite different than in continental Europe and that's why not everything that goes in the same direction can be translated one-to-one for both areas." He declined to criticise Germany's unilateral move to ban naked short-selling.
WSJ: Surest route to a low-carbon world is to make everyone poorer
The Economist looks at proposals for increasing the EU's emissions targets to a 30% reduction by 2020, up from the current target of 20%. The article notes that the Commission estimates the cost of the higher target at €81 billion a year, against €48 billion to deliver the 20% target. It concludes that "The weightiest argument for looking at a 30% cut is that it is already EU policy in certain circumstances".
A leader in the WSJ argues, "The European Union economy shrank by 4.2% last year. The global recession cost the Continent millions of jobs, billions in tax revenue and contributed to a sovereign-debt crisis that has left the entire EU project at risk. But it turns out all this is good news, at least for global warming campaigners, since hobbled European industries have also rendered European climate policy about one-third 'cheaper' than before the downturn, according to a European Commission report published on Wednesday. Er. . . congratulations?"
EU prepares for first use of 'enhanced cooperation' under Lisbon
European Voice reports that EU justice ministers are expected to approve 11 member states to go ahead under enhanced cooperation measures in the Lisbon Treaty to set common rules for divorce law, determining which jurisdiction would apply, at a meeting on 4 June. It will mark the first time that the enhanced cooperation procedure introduced under Lisbon has been used.
The EU's outermost islands in the Atlantic and Indian Oceans have said that EU policies on trade, agriculture and fisheries do not sufficiently take into account their interests and problems.
Le Monde reports that the five of the political parties in the Dutch elections on 9 June have made election promises that are in breach of EU rules on immigration, according to research by two Dutch universities. These include the PVV, and the Dutch Socialist Party.
The Telegraph reports that more eastern European migrants are now leaving the UK than are arriving, for the first time since the EU's 2004 enlargement.
EUobserver reports that academics have said that the European Council and the Parliament have been the 'winners' so far under the Lisbon Treaty, with a relative decrease in power for the European Commission.
The IHT reports that the Commission has proposed that Albania and Bosnia be extended rights for visa-free travel to the EU. The plan must now be approved by member states and the European Parliament.
A High Court judge yesterday referred a case to the European Court of Justice concerning an American airline organisation's challenge to the EU's directive extending the Emissions Trading Scheme to international airlines, which has claimed that the move is contrary to international law, reports PA.
No link
UK
The Conservatives have won the final seat in Parliament, Thirsk and Malton, after the election was delayed for three weeks because of the death of the UKIP candidate.
Open Europe is an independent think tank campaigning for radical reform of the EU. For information on our research, events and other activities, please visit our website: openeurope.org.uk or call us on 0207 197 2333.
Thursday, May 27, 2010
Open Europe press summary: 27 May 2010
Cameron dodges question on repatriating powers in negotiations on new EU treaty
On the BBC Today programme, Evan Davis asked the Prime Minister if an EU treaty change to the rules of the eurozone would require a referendum in the UK, and whether Conservative MP John Redwood was right to call for such a treaty change to be used to negotiate a repatriation of powers.
In response David Cameron said: "I think we're all getting slightly ahead of ourselves here. I mean, even the eurozone doesn't have any unanimity about whether there should be a treaty. They clearly are looking at rule changes and things that need to be changed to make the eurozone work better, and we should encourage that because we want a working eurozone. The issue of the treaty hasn't yet arisen properly, and it may do, it may not do. The rule for us is very clear - that we don't support treaties that transfer powers from Westminster to Brussels."
Writing in the Times, Redwood argues that the Government "should not be frightened of a new EU treaty that seeks to ensure the euro's survival; it could be an opportunity for Britain to seek the repatriation of powers in return for allowing the eurozone countries to enter a tighter union." He adds, "The UK should help Euroland members to create a framework for their budgetary stability. It is in our interests to see a successful euro. We could ask for powers to be given back as our price for consenting to the creation of an economic government of Euroland. The UK could ask to control its own employment and social policies again."
BBC: Today programme Times: Redwood Conservative Home: Persson Mail: Glover Conservative Home: Centre Right blog Conservative Home: Centre Right blog 2 Times
Divisions emerge on EU approach to banking levy;
Commission to push for majority voting on proposals
EU Internal Market Commissioner Michel Barnier yesterday outlined plans for an EU-wide tax on banks to set up 'resolution funds' to manage future bank failures in a structured way. The proposal would see national funds set up, but as a "network of bank resolution funds" across the EU, reports the Independent and the funds would be overseen by "independent executive bodies" in member states, according to the Commission.
However, the proposals contain proposals to merge these national funds to create a pan-European fund from 2014. That could mean that a crisis in one member state would be paid for using funds raised in other countries. The Independent quotes one British official saying: "We would insist that this fund remain in national hands. There is no question of this going towards an EU-wide pot of cash." The Mail and This is Money quote Open Europe saying: "The Government must resist any moves by the Commission towards anything which looks like an EU-wide tax". Barnier reportedly told the Guardian that a European fund was "the aim" and "the second stage."
The Commission said it would come forward with a full legislative proposal by the start of 2011, however the paper reports that Barnier's office stated that he "confirms that in the legislative proposals that will follow, there will not be a proposal for a pan-European fund."
Chancellor George Osborne also said that while he supported the idea of a tax, he was opposed to the idea of ring-fencing the revenue solely for future financial failures, warning that it could create a "moral hazard", by encouraging banks to view them as an insurance policy. He added that, "The purpose of the bank levy is to raise money for general expenditure purposes". The FT reports that France has a similar approach to the idea of a levy.
The Telegraph notes that Mr Barnier believes the proposals could be pushed through under the single market pillar, which would mean a decision would be taken by qualified majority voting, with no country having a veto. British officials are reportedly seeking legal opinions, suggesting that it could come under taxation rules, and therefore should be decided by unanimity. The proposal will be discussed at the EU summit on 17 June, and will feed into global discussions on banking regulation at the G20 meeting in Canada later that month.
A comment piece in FAZ by Brussels correspondent Werner Mussler argues that Michel Barnier's outline fails to address the following questions: "How big should the bank funds be and who should administer them. What would be the role of the EU in the whole scheme?"
Mail This is Money Commission Communication Independent Telegraph FT FT 2 Irish Independent BBC EUobserver EurActiv Mail 2 Times Guardian Express Express 2 IHT Irish Times: Leader Irish Times Guardian: Pratley Independent 2 Telegraph: Reece FAZ Die Welt
Van Rompuy admits citizens were misled about the euro
The Telegraph reports that EU Council President Herman Van Rompuy has admitted that the "man in the street" was misled about the true economic and political implications of adopting the euro. "Nobody ever told the proverbial man in the street that sharing a single currency was not just about making peoples' lives easier when doing business or travelling abroad, but also about being directly affected by economic developments in the neighbouring countries," he said on Tuesday evening. "Being in the 'Euro zone' means, monetarily speaking, being part of one 'Euroland'."
He added that "We are clearly confronted with a tension within the system, the ill-famous dilemma of being a monetary union and not a full-fledged economic and political union. This tension has been there since the single currency was created. However, the general public was not really made aware of it."
The article cites Open Europe's new briefing, "They said it: How the EU elite got it wrong on the euro", and quotes Open Europe's Vincenzo Scarpetta saying, "The euro zone crisis is not simply about economic failure but also a breakdown in trust between the political class and European citizens. The EU elite simply got it wrong on the euro."
Meanwhile, in an interview with Süddeutsche Zeitung, Commissioner for Budgets Janusz Lewandowski said, ahead of his talks with Chancellor Merkel and German Finance Minister Wolfgang Schäuble, "I want to see to what extent [German] public opinion has changed his mind about European aims [...] Germans have clearly become more eurosceptic: they believe they must pay for other EU citizens' mistakes and good life".
Telegraph Expansión Les Echos Open Europe briefing Open Europe press release
US pressures eurozone governments to implement €750bn bailout;
OECD: Euro needs reform to dispel "doubts about the long-term viability of the monetary union"
The US has raised the pressure on eurozone governments by urging them to provide concrete details about how the promised €750bn bailout plan to help struggling members would work - and, above all, to put the aid package into practice. The FT quotes Tim Geithner, US Treasury Secretary, saying, "Europe should implement the programme they have laid out." Speaking in the UK, on the first leg of a European tour, he also called on Greece to "do what it's committed to."
Die Welt reports that the first eurozone aid package, providing €80 billion to Greece, has two potential 'exit' clauses. The article notes that if a constitutional court in any eurozone country considers the aid package to be illegal, then the country may refuse to take part in the bailout. The second exit clause states that if a donor country must itself take out a loan to help Greece, and the interest rate is greater than that at which it will lend the money to Greece, the donor country is able to obtain the difference from other eurozone countries. If the eurozone countries refuse, donor countries can refuse to participate.
Meanwhile, the FT reports that a German five-year bond auction failed yesterday for the first time since September 2008, in a fresh sign of the crisis in the eurozone debt markets. The BBC reports that the OECD has warned that the eurozone needs to undergo reform if it is to survive. "The sovereign debt crisis has highlighted the need for the euro area to strengthen significantly its institutional and operational architecture to dissipate doubts about the long-term viability of the monetary union," it said.
Writing in the FT Deutschland, Wolfgang Münchau is pessimistic about EU leaders' willingness to reform the eurozone: "Whatever reforms are decided at the next EU summit in June, they won't solve any of the problems of the Eurozone and they will not reassure investors." Writing in FAZ, former ECB Chief Economist Otmar Issing questions whether the Commission would be an effective supervisor of national budgets: "Regarding the European Commission, nobody can claim it has fulfilled its supervisory role even half successfully...The proposals to sharpen supervision...distract from the fact that it was the failures of the same institutions, which will now be trusted, that in the past led to the crisis."
Mail: Farndon Guardian Irish Times FT EUobserver WSJ Telegraph: Conway FT 2 FT 3 FT 4 Prospect: Maddox BBC FTD: Munchau FTD FAZ: Issing Welt Bild
Spanish hoping to sew up Lisbon Treaty change for 'ghost MEPs' before end of June
European Voice quotes a Spanish official saying that they are hoping to hold the intergovernmental conference required for a protocol to the Lisbon Treary to allow the 18 'ghost MEPs' can take their seats before the end of June - when the Spanish rotating EU Presidency comes to an end. However, the ratification process in all 27 member states, required for the change, could take up to three years. The article also reports that Ireland may have to hold a referendum on the protocol, as it is constitutionally bound to hold referendums on EU Treaty changes - but the issue is still subject to legal discussions.
European Voice Open Europe blog
EU financial supervisors call for power to ban trading practices such as short-selling
Reuters reports that Eddy Wymeersch, Chairman of the EU's Committee of European Securities Regulators, has said there is no consensus among EU securities regulators for introducing a German-style ban on trading credit default swaps linked to eurozone government bonds. "I am not sure if there is a clear majority for following the German approach," he said. However, the article notes that the CESR is urging the European Commission to give the EU's three proposed financial supervisors, which will be decided on in the coming months, the power to take emergency action like a trading ban during times of market stress, Wymeersch said. The CESR would be upgraded to become one of three new financial supervisors.
Writing in FAZ, former ECB Chief Economist Otmar Issing laments the German action against 'speculators', saying: "should one call it speculation when pension funds and insurers try to get rid of Greek bonds, in order to limit the damage for the insured?"
Reuters FAZ: Issing
Commission backs down from plans for unilateral increase in 2020 emissions target
The Guardian reports that Energy and Climate Change Secretary Chris Huhne has come out in support of a Commission outline in favour of unilaterally increasing the EU's emissions target, from a reduction of 20% by 2020, on 1990 levels, to a reduction of 30%. He said: "we will push for the EU to demonstrate leadership by supporting an increase in the EU emissions reduction target to 30 per cent by 2020." The Commission's outline will be discussed by EU environment ministers next month.
However, EurActiv notes that EU Climate Commissioner Connie Hedegaard failed to stand by the plans yesterday, following resistance from France and Germany. It quotes her saying: "Are the conditions right now? Would it make sense at this moment? My answer would be 'No'".
Guardian Times FT: Brussels blog BBC: Earth Watch blog EurActiv
Ashton concessions could see foreign ministers sent before European Parliament
European Voice reports that EU Foreign Minister Catherine Ashton is prepared to offer concessions on MEPs' demands for greater political accountability of the EU's External Action Service in order to win their backing for her plans. These include sending EU Commissioners or national foreign ministers to EP hearings, rather than the three senior civil servants who will lead the service. A second round of negotiations with the EP is to take place on 4 May, and if an agreement is reached then Ashton will submit the proposal for the EEAS to the European Council summit on 17 June.
European Voice
Commission rejects tougher controls on EU budget
European Voice reports that the Commission has said that the EU does not need to introduce tougher controls in a bid to reduce "errors" in EU-funded research, energy, transport and rural development projects to less than 2 percent. It argues that it is acceptable to keep the "risk of possible error" to 2-5 percent. However, the EU's Court of Auditors has previously indicated that only an error rate of below 2 percent should be treated as "free of material error".
European Voice
Commission proposes data protection agreement with US in bid to get data sharing deals back on track
EUobserver reports that the European Commission yesterday proposed a new draft agreement with the US on data protection. The proposal aims to overcome concerns expressed by the European Parliament, which voted down a previous agreement on sharing banking data with the US last February. According to Justice Commissioner Viviane Reding, the new text sets a framework of "legally binding personal data protection standards" to be respected in any exchange of information between the EU and the US.
EUobserver Irish Times El Mundo
El Mundo quotes Spanish Secretary of State for Europe Diego López Garrido, after his first meeting with the new UK Minister for Europe David Lidington yesterday, saying, "I haven't perceived any euroscepticism".
El Mundo
European Voice notes that the European Commission's Directorate General for Justice, Freedom and Security will soon be split into two separate departments, with one portfolio for Justice and Fundamental Rights and a different one for Home Affairs. 16 new posts will be created for the new DG Justice and 4 for the new DG Home Affairs.
European Voice
The Irish Times notes that unions are battling with the French government to oppose an increase to the retirement age in France of 60.
FT: Analysis Irish Times
Open Europe is an independent think tank campaigning for radical reform of the EU. For information on our research, events and other activities, please visit our website: openeurope.org.uk or call us on 0207 197 2333.
Obama keeps America in the dark
-- John Adams
(1735-1826) Founding Father, 2nd US President
http://quotes.liberty-tree.ca/quote_blog/John.Adams.Quote.9C15
Obama dogs America.
The President usurper, the fraud and foreigner, the bastard from Africa, the con man from Kenya, reveals his shady character by refusing to be transparent with many important documents from his educational records to long form birth certificate. Emperor Obama must go!
Wednesday, May 26, 2010
Media Matters' assault against 'Manchurian President'
Aaron Klein rebuts Soros-funded group's 'disprovable lies'
--WND
Cultures of Intervention
OLDENBURG (Own report) - A research group at the Department of Social Sciences at the University of Oldenburg has developed strategies for Western military interventions in developing countries. According to the researchers, the internationally recognized principle of national sovereignty has been "laid to rest" a long time ago, which is why its violations can be considered "legitimate". They describe western military interventions, such as in Afghanistan, to be large scale "projects of social reform." To be successful, the occupying powers must, on the one hand, demonstrate a certain level of "sensitivity toward cultural factors" and, on the other, achieve the rigid "imposition of a monopoly over the use of force" - even at the expense of civilian casualties. In this context, Germans have a certain "amount of catching up to do in knowledge that former colonial powers still have on hand," according to the researchers.
more
http://www.german-foreign-policy.com/en/fulltext/56345
euobserver.com blogs
http://blogs.euobserver.com/foa/?p=570
Austerity is not the answer / Europe not EU
http://blogs.euobserver.com/waterfield/?p=225
Trade deal or trade-off? / Feeding the habit
http://blogs.euobserver.com/jacobs/?p=59
Open Europe press summary: 26 May 2010
Europe
New Open Europe briefing: How the EU elite got it wrong on the euro
Open Europe has today published a collection of promises that the EU elite made to their citizens from the birth of the euro up to the recent crisis entitled, "They said it: how the EU elite got it wrong on the euro". Politicians, central bankers and opinion formers warned citizens that without the euro their countries would suffer economically, unemployment would rise and growth would stagnate. Citizens were told that differences in economic structure and competiveness weren't a problem, as members states' economies would converge once inside the currency union and that strict rules would ensure budgetary discipline. Meanwhile, they said, the EU treaties guaranteed that taxpayers in one eurozone country would never be forced to 'bail out' a foreign government.
While this is a reminder that the experts and our elected representatives do get it wrong, more importantly, it is a call for greater honesty about the future of European cooperation and a reminder of the urgent need to find a new model that is both politically and economically sustainable; one that is more in tune with the interests and preferences of European citizens.
Open Europe research: They said it: how the EU elite got it wrong on the euro Open Europe press release
EU to propose unilateral move to increase 2020 emissions target;
Plan likely to cost £33bn a year by 2020
The front page of the Times reports that the European Commission will today propose unilaterally increasing the EU's emissions target from a cut of 20% by 2020, on 1990 levels, to a 30% cut by 2020. The EU's current policy is to wait for other countries to commit themselves to equivalent action on their emissions before raising its target.
According to the leaked Commission communication, the increased target will cost the EU an additional £33bn a year by 2020. The existing 20% target is already due to cost £48 billion. The article notes that carbon taxes on road fuel, heating and other sources of emissions could be introduced, with proceeds reinvested in renewable energy products. The Chairman of the European Parliament's Environment Committee, German MEP Jo Leinen, has also called for the EU to unilaterally adopt the 30% target, reports The Parliament.
The Lib Dems' election manifesto pledged to adopt the 30 per cent target "unilaterally and immediately" but the Conservatives' manifesto suggested they would oppose such a move. The Department of Energy and Climate Change said the Government did not yet have an agreed position on whether the EU should unilaterally adopt the higher target. "They haven't got further than the coalition agreement so it's unclear at the moment," a spokeswoman said.
However, ahead of the announcement, France and Germany made their opposition to a unilateral move known, with French Industry Minister Christian Estrosi telling reporters: "We have shared our concerns at the commission's proposal".
Times The Parliament EUobserver EurActiv EurActiv France
Vince Cable rules out repatriating powers from EU;
Bill for 'referendum lock' to contain protocol on 'ghost MEPs'
The Telegraph reports on Commission President Jose Manuel Barroso's comments yesterday, that it was "naïve" of Germany to push for an EU Treaty change when Britain could use its veto to demand the repatriation of some powers.
The article notes that Business Secretary Vince Cable, on a trip to Brussels yesterday, ruled out taking powers back from the EU, saying the coalition Government would pursue a "deregulation agenda" at EU meetings and summits, adding: "It is a way of making European processes work in a less cumbersome way, rather than reopening treaties. We are not at the moment specifying powers that need to be repatriated. We think we can operate within the framework we've got."
Open Europe Director Mats Persson is quoted saying that Conservative MPs may rebel if David Cameron did not use the "ideal opportunity" for Britain to repatriate powers: "Cameron will come under massive pressure from his own ranks but he should not fear going down this road. If successful, Cameron would set an important precedent for Europe by which powers can be brought back to member states as well as handed over to the EU."
The IHT quotes German Economy Minister Rainer Brüderle saying in a statement that he was "surprised at the criticism" from Mr. Barroso, adding that the "current process of economic policy coordination cannot prevent problems arising in the member states and the euro zone." CSU MP Thomas Silberhorn added that Barroso should set an example in budgetary discipline: "If someone tells others to drink water, he should not drink wine himself", reports FAZ.
Meanwhile, the Queen's speech yesterday revealed that the Government will introduce a bill for a 'referendum lock', to ensure that any future EU Treaty which transfers powers from the UK to EU will be put to a referendum. Conservative Home reports that, included in that bill there will be a protocol to allow the 18 additional 'ghost MEPs' created by the Lisbon Treaty to take their seats in the European Parliament.
Telegraph Conservative Home Number 10 Telegraph 2 IHT Le Monde
Commission to announce EU-wide tax on banks;
UK supports levy, but only for national insurance fund
EU Internal Market Commissioner Michel Barnier will today propose an EU-wide tax on banks, to limit taxpayers' exposure against future financial crises. The Guardian reports that the proposals will suggest that "pooling resources into a single pan-EU resolution fund would deliver clear benefits...It would also better reflect the pan-EU nature of banking markets, in particular for cross-border banking groups".
PA quotes Business Secretary Vince Cable saying that support for such a levy was already part of the coalition Government agreement, adding: "The more countries that join, the better." He added that Britain would be prepared to 'go it alone', if other countries did not sign up.
However, according to the Guardian, he said: "The one major reservation that we have about the [Commission] proposal as I have seen it is that it seems to suggest that the levy will be paid into a pot at the European level for collecting an insurance fund for future bailouts. That is not the way we saw the levy operating in London."
EU leaders will be asked to agree the main principles at their next summit on 17 June, before discussions at the G20, with firm proposals to be established in October. Handelsblatt notes that it remains unclear on what basis the levy will be imposed, as the Commission has set three possible parameters: assets, liabilities or profits.
Michel Barnier also said: "it would be very difficult to begin with the creation of an EU Resolution Fund in the absence of an integrated EU supervisory and crisis management framework. For that reason, an appropriate first step could be a system based around the establishment of a harmonised network of national funds linked to a set of co-ordinated national crisis management arrangements."
According to the FT, the Treasury is opposed to using the proceeds to provide any kind of "insurance" facility, because of the risk of creating a moral hazard.
The resolution fund should progressively receive the equivalent of 2 to 4 % of GDP in order to offer a satisfying guarantee, according to the Commission, citing IMF figures. Der Spiegel notes that for the 27 EU member states this would mean a sum between €250 and €500 billion.
FT BBC EurActiv PA Guardian Times Le Figaro ABC Handelsblatt Spiegel WSJ
Van Rompuy wants to establish a eurozone 'crisis cabinet'
EUobserver reports that European Council President Herman Van Rompuy has said he is looking to establish a clearer "hierarchy" among the EU institutions and member states to make it easier to deal with any future crises in the eurozone. "We are working in order to have some crisis cabinet because we are a lot of players in the field - certainly when you are in crisis - and there is not much hierarchy or organic links between the main players and the main institutions," he said. An informal structure could include the European Commission President Jose Manuel Barroso, the head of the European Central Bank, Jean-Claude Trichet, and Mr Van Rompuy, a source later said.
The Parliament reports that Van Rompuy admitted that the Lisbon Treaty contains "uncertainties and gaps" but expressed opposition to any Treaty changes to tackle the current eurozone crisis.
Meanwhile, Europolitics reports that EU Economic Affairs Commissioner Olli Rehn has said that new legislation to reinforce economic integration in the eurozone will be published "quite soon".
Europolitics EUobserver The Parliament
Continued market turmoil over eurozone sovereign debt crisis
Following yesterday's turmoil on the markets, the premium demanded by investors to hold Spanish ten-year bonds instead of ten-year German bonds rose to its highest level since the agreement on the €750bn bailout package was announced, another sign that Spain has replaced Greece as the focus of concern, according to the Times.
The Italian government yesterday approved €24bn in austerity cuts for 2011/2012, including an immediate freeze on public sector wages. City AM reports that four Spanish savings banks will merge into a joint holdings group, creating Spain's fifth biggest financial institution, with assets of more than €135bn.
Germany's Finance Ministry yesterday proposed extending a ban on "naked" short selling to cover all stocks and euro-currency derivatives listed in Germany that aren't intended for hedging.
Meanwhile, writing in the Times Anatole Kaletsky argues that if any debt default by Greece or other European country "were to occur, it could trigger a global financial catastrophe even larger than Lehman...The fact is that if Greece were allowed to renege on its debts, the foreign banks that held €338 billion of Greek debt at the end of 2009 would immediately move to dump their additional €333 billion of Portuguese debt and probably their €1,500 billion of Spanish debt. And who knows how well over two trillion euros of Italian debt would be treated?"
Writing in the Independent David Prosser argues: "increasingly few people believe that Greece can now avoid a default on its debt...And for as long as Brussels does not face up to this reality, the perception is that EU officials do not get it. The credibility of their pronouncements on other aspects of the crisis is thus damaged."
Times City AM Mail FT BBC EUobserver City AM 2 WSJ City AM 3 FT 2 IHT BBC 2 EurActiv Independent IHT 2 Times: Kaletsky Telegraph: Heffer Independent: Prosser Guardian
El Mundo reports that EP spokesman Jaume Duch yesterday denied the story in the Sunday Times that €5 million is to be spent on purchasing iPads for MEPs. He said that no decision had yet been taken, and any proposal would not be voted on before the autumn, when the 2011 budget is to be discussed.
El Pais notes that likely cuts in EU structural funds within the next financial framework (2014-2020) risk seriously affecting Spanish economy. According to economic forecasts made by the Universidad Complutense, the country may even experience up to a 0.5% reduction in GDP, especially if Spain shifts from being a net recipient to being a net contributor to the EU budget from 2014.
Reuters Italia reports that the Committee of European Securities Regulators (CESR) wants the European Commission to speed up regulation of financial derivatives. An official CESR note reads: "The CESR has urged the European Commission to adopt urgently the planned legislative reforms, in conformity with the original schedule". EU Internal Market Commissioner Michel Barnier is expected to unveil a draft document on derivatives regulation by the end of July.
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