Tuesday, December 24

Europe, EU, Eurozone

European Commission Calls for Reforms in Hungary
9Dec By Patti MohrNo Comments
Europe, EU, Eurozone, Geopolitics, Political Systems, Domestic Politics, Types of News: Bit, Types of News: Brief

European Commission Calls for Reforms in Hungary

EC Says It'll Withhold $1B If Changes Aren't Made December 9, 2024—The European Commission is on the verge of withholding €1 billion in funds to EU-member Hungary unless that government reforms 17 measures by the end of the year. The EC is already blocking €12 billion in funds to Hungary. Among the measures that the EC demands Hungary complete are anti-corruption and conflict-of-interest legislation, according to reporting by Politico Europe. Hungary is increasingly at odds with the European Union under the right-wing leadership of Viktor Orbán. EU lawmakers have grown increasingly discontent with EU-member Hungary over a series of infringements on human rights as well as concerns about corruption. In 2022, the EC announced that Hungary's government could no longer be considered a...
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EU’s Ceasefire Resolution Says Too Much, Not Enough
19Jan By Patti MohrNo Comments
Europe, EU, Eurozone, International Law, Legal Battles, Middle East, Types of News: Analysis

EU’s Ceasefire Resolution Says Too Much, Not Enough

European Parliament Passed Non-binding Statement on the Israel-Gaza Conflict January 19, 2024—Israel's war with Hamas and its destruction of Gaza has divided the European Union. The European Parliament on Thursday adopted a watered-down resolution calling for a ceasefire, the dismantling of Hamas, and the unconditional release of the remaining hostages. The resolution is non-binding and largely symbolic. The Parliament passed it with 312 votes in favor, 131 against, and 72 abstentions. What's noteworthy is not the vote or the individual phrases in it. It is that the resolution is too long-winded to have an impact. It thwarts itself at every turn. It calls for a permanent ceasefire and then says Israel has "a right to defend itself." It calls on all parties to "distinguish be...
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Economic Sands Shift: ‘B’ Is For ‘Beginning’
16Mar By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Europe, EU, Eurozone, Finance, Investing, Global Economics, Types of News: Videos

Economic Sands Shift: ‘B’ Is For ‘Beginning’

March 16, 2023-Recent turmoil in the banking sector in the United States and Europe poses a challenge to governments facing inflation. Here's my take. Due to the lag effect of central bank policies, what we are seeing in the banking sector is a beginning not an end to financial troubles. https://www.youtube.com/watch?v=oyBfFctQYn4
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What Happens When China Buys Up Europe’s Ports?
2Nov By Patti MohrNo Comments
Europe, EU, Eurozone, Geopolitics, Global Trade, Globalization, Global Disintegration, Types of News: Analysis

What Happens When China Buys Up Europe’s Ports?

China's Xi Jinping has a stake in developing relations with Greece and other countries in Central and Eastern Europe. Photo: Li Xueren/Xinhua China's State-Owned Cosco To Buy Stake In Another European Port November 2, 2022—Greece may be a pioneer and champion of democracy, but in the business of trade it owes a great deal to communist China. In fact, its largest port, Piraeus, is owned by a Chinese state-owned shipping company called Cosco Shipping. That's the subject of a fine piece of reporting by Kaki Bali for Germany's DW, called "In Greece's Largest Port of Piraeus, China Is The Boss." Bali looks at the implications on trade and geopolitics as China's Cosco buys up ports in Greece, Italy, Spain, The Netherlands and Brussels. Noting the modernization of the port and jobs, ...
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EU Advances Bosnia And Herzegovina Membership Request
14Oct By Patti MohrNo Comments
Europe, EU, Eurozone, Geopolitics, Human rights, Types of News: Brief

EU Advances Bosnia And Herzegovina Membership Request

European Commission Demands Candidate Countries Provide Stronger Human Rights Protections October 14, 2022—The European Commission gave the green light to Bosnia and Herzegovina on its candidacy to join the 27-member European Union. The decision, which comes with stipulations, moves to the European Council. EU leaders are aspiring to expand their bloc as a way to spread their perspective on the world stage. Commissioner Olivér Várhelyi called the enlargement policy a "geostrategic investment" in the continent's peace and stability. Candidates for the EU Line Up Ukraine, Moldova, and Georgia are the latest countries to request membership. The bloc already has many countries waiting to get in, including Turkey, Montenegro, Serbia, Albania, and Kosovo. "The Western Balkans are ...
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Path To Normal For ECB Poses Challenges To High Debt Countries
15Jun By Patti MohrNo Comments
Currency, Debt, National Budgets & Interest Rates, Europe, EU, Eurozone, Types of News: Bit

Path To Normal For ECB Poses Challenges To High Debt Countries

June 15, 2022— As the central bank for the Eurozone pursues a path to normal policies, the risk it now faces is uneven impact among the 19-member countries. Borrowing costs in so-called vulnerable countries like Italy, Greece, and Spain are soaring in response to monetary tightening last week by the European Central Bank (ECB). Now fragmentation of the Eurozone is a concern. As a result, the ECB announced today it is adjusting its plans. For one, the ECB will consider the vulnerabilities when reinvesting payments maturing from its pandemic relief program, known as PEPP. Those reinvestments of maturing PEPP payments are scheduled to continue through 2024. The program's worth is estimated at 1.85 trillion euro ($1.9 trillion), according to the New York Times.
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EU Moves One Step Closer To Forcing Standard Phone Cords
7Jun By Patti MohrNo Comments
Big Tech, Digital Economy, Climate Action, ESG, Sustainable Finance, Europe, EU, Eurozone, Types of News: Bit

EU Moves One Step Closer To Forcing Standard Phone Cords

June 7, 2022—The European Union is moving one step closer to forcing tech companies to standardize cords charging cell phones. Today, the European Parliament and EU Member States agreed on a plan to require tech companies to make it easier for consumers to use a uniform charger, USB-C as it's known, for mobile phones and other portable electronic devices. The European Commission developed the plan for a common charger last September. The commissioners have been working on the issue since 2009, to the chagrin of Apple and other firms who prefer to sell consumers multiple cords for multiple devices. Common Charger The 2021 plan is to make the USB-C "the standard port for all smartphones, tablets, cameras, headphones, portable speakers and handheld videogame consoles." Supporters sa...
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EU Agrees To A Partial Ban On Russian Oil
31May By Patti MohrNo Comments
Europe, EU, Eurozone, Sanctions, Types of News: Brief

EU Agrees To A Partial Ban On Russian Oil

European Council Plans To Accelerate Transition To Alternative Energy May 31, 2022-The 27 heads of government of the European Union agreed today to reduce its dependence on Russian fossil fuels and to accelerate a transition to alternative sources of energy. The decision sets the EU on a course to ban up 90 percent of Russian oil imports by the end of the year. It is part of the sixth round of sanctions against Russia and Belarus in response to Russia's war against Ukraine. "The European Council is committed to intensify pressure on Russia and Belarus to thwart Russia’s war against Ukraine," the Council said in an 11-page document. "The European Council calls on all countries to align with EU sanctions. Any attempts to circumvent sanctions or to aid Russia by other means must be s...
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Presidential Election in France Shows Populism Is Still Alive
20Apr By Ernesto RodriguezNo Comments
Domestic Politics, Europe, EU, Eurozone, Globalization, Global Disintegration, Types of News: Analysis

Presidential Election in France Shows Populism Is Still Alive

French President Emmanuel Macron Faces Run-Off With Right-Wing Candidate Marine Le Pen April 20, 2022—This Sunday's French election happens in the midst of various crises. For one, while most of Europe has loosened Covid-related restrictions, the pandemic and its economic damage are still present. At the same time the continent is dealing with the biggest war it's seen since the 1990s when Yugoslavia imploded. In that regard, the two candidates for the top job of the French government couldn't be more different. On one side is Emmanuel Macron, the incumbent president who at the age of 44 has become the heir-apparent to Germany’s Angela Merkel for leading European diplomacy. (Merkel retired at the end of 2021, making way for a new German leadership.) On the other side is Marin...
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Europe Shores Up Its Defence, Sets Up Security Plan
23Mar By Patti MohrNo Comments
Europe, EU, Eurozone, Geopolitics, Types of News: Brief

Europe Shores Up Its Defence, Sets Up Security Plan

NATO Also To Strengthen Its Defense Capabilities In Europe And Perhaps Beyond March 23, 2022--This week political leaders are meeting on two tracks to build up security in Europe: in the NATO Alliance and in the European Council. Josep Borrell speaks ahead of European Council March 21, 2022 meeting. Even before Russia invaded Ukraine, European countries started plans to shore up their own defenses. It started in 2017 with talks of a voluntary defense arrangement among EU countries. Over time, it grew in. ambitions. After Afghanistan fell to the Taliban in August, European leaders began talking about strengthening their own defense capabilities and building stronger autonomy in foreign policy. That led to the culmination of the Strategic Compass. It is a forward-looking defense ...
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