Tuesday, December 24

Europe, EU, Eurozone

International Agency Says Europe Can Cut 1/3 Of Its Russian Gas Imports
7Mar By Patti MohrNo Comments
Climate Action, ESG, Sustainable Finance, Energy Policy, Oil & Gas, Europe, EU, Eurozone, Geopolitics, Globalization, Global Disintegration, Organizations, IMF, WTO, G7, Types of News: Brief

International Agency Says Europe Can Cut 1/3 Of Its Russian Gas Imports

March 7, 2022--Europe is notoriously dependent on Russian oil and gas. That reliance is making strict penalties on Russia's invasion difficult to carry out. But that trade isn't set in stone. In a new report, the International Energy Agency recommends 10 steps for European leaders who want to break that dependency. Under the IEA plan, Europe would be able to reduce its natural gas imports from Russia from 155 billion cubic meters (bcm) a year to 95 bcm--a savings of one third. These figures assume Europe refills is gas storage facilities in 2022. According the the report, the steps are in line with the European Union's goals for climate action and a European Green Deal. However, the agency also recommends additional steps in light of Russia's aggressive war against Ukraine. 10 Steps ...
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IMF: Crypto, Stocks Surged In Response To Central Bank Policies Since 2020
11Jan By Patti MohrNo Comments
Big Tech, Digital Economy, Cryptocurrency, Currency, Debt, National Budgets & Interest Rates, Europe, EU, Eurozone, Types of News: Brief, United States

IMF: Crypto, Stocks Surged In Response To Central Bank Policies Since 2020

In Effect, The Policies Pose The Risk Of Shocks To The Financial Systems Photo by BTC Keychain January 11, 2022--Cryptocurrencies and stock market equities skyrocketed as central banks produced loose monetary policies amid the 2020 global pandemic. Although cryptocurrency prices and some high-growth stocks have dipped since the start of the year, they both "surged amid easy global financial conditions," the International Monetary Fund reported on today. That may come as no surprise among high finance investors who carefully watch interest rates established by central banks, especially those in the United States and Europe. But today's report by the IMF appears to be the first acknowledgment from the multilateral organization that government agencies are fueling the boom in r...
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Germany’s New Coalition Government Puts Values First In Foreign Policy
8Dec By Patti MohrNo Comments
Democracy, Diplomacy, Europe, EU, Eurozone, Human rights, Types of News: Analysis

Germany’s New Coalition Government Puts Values First In Foreign Policy

A Tougher Stance On China Is Likely December 8, 2021--It's a momentous day for Germany, Europe's largest economy, as that country replaces Angela Merkel with a new chancellor after 16 years of her leadership in and out of the country. The Bundestag officially recognized Olaf Scholz as head of the government. Scholz represents the center-left Social-Democratic Party (SDP). This Fall, the party signed an agreement with the Green Party (Greens) and Liberal Democrats (FDP) to rule the country. The coalition deal promises "an innovative alliance" of parties that represent different traditions and perspectives. 50% Off your first digital audiobook. "We can make a contribution to softening political divisions and can initiate new political creativity. In this way, we can modernize soc...
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Inflation Issues ‘Fade Away,’ ECB Says
28Oct By Patti MohrNo Comments
Europe, EU, Eurozone, Global Economics, Types of News: Brief

Inflation Issues ‘Fade Away,’ ECB Says

European Central Bank Keeps Stimulus Policy Despite Rising Prices October 28, 2021--The European Central Bank decided to keep its emergency purchase program in place, even though the economy is recovering and prices are rising. The decision lets the central bank continue its policy of purchasing financial assets and keeps interest rates in negative territory. That is in spite of an inflation rate of 3.4 percent, which is higher than the target of 2 percent. The Euro's short-term interest rate hovers below zero at -0.573 percent. Meanwhile, the 10-year government bond is also in negative territory at -0.16 percent. The EBC dismissed rising inflation, saying, "This is mainly because oil, gas and electricity prices have gone up a lot and demand is rising faster than supply. But we ex...
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After Afghanistan’s Fall, Europe Seeks Greater Autonomy Over Its Foreign Policy
3Sep By Patti MohrNo Comments
Diplomacy, Europe, EU, Eurozone, Types of News: Videos

After Afghanistan’s Fall, Europe Seeks Greater Autonomy Over Its Foreign Policy

September 3, 2021--Disappointed about the way the U.S. military and political leadership withdrew from Afghanistan, European Union leaders said they have to strengthen their own defense capabilities and build stronger autonomy in foreign policy decisions. "What we need is a strong and common voice in the international scene," said David Sassoli, President of the European Parliament. "Europe must take up its own responsibility, must have a voice, which can be heard, and must set and protect its own interests." -Sept. 1 at the Bled Strategic Forum Reduce Reliance and Strengthen Auonomy President of the European Council Charles Michel, said the "chaotic withdraw from Afghanistan" forces European leaders to "reduce our dependenc...
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European Convention on Human Rights Gives More Say to National Governments
2Aug By Spencer HayesNo Comments
Europe, EU, Eurozone, Types of News: Brief

European Convention on Human Rights Gives More Say to National Governments

August 2, 2021 -- An amended framework for human rights decisions in a 47-member convention came into force yesterday after all members ratified an update called Protocol No. 15. Aside from administrative changes, the addition is meant to strengthen the role of state governments in international treaties. Stronger National Roles in Human Rights According to the explanation, the Court gives greater leeway to national governments to decide how to apply and implement the Convention. "This reflects that the Convention system is subsidiary to the safeguarding of human rights at the national level and that national authorities are in principle better placed than an international court to evaluate local needs and conditions," the explanatory report says. Background The decision to ref...
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In Rebuff to Brussels, Budapest Plans Referendum On ‘Sexual Propaganda’ Law
27Jul By Steve BerlinNo Comments
Domestic Politics, Europe, EU, Eurozone, Types of News: Brief

In Rebuff to Brussels, Budapest Plans Referendum On ‘Sexual Propaganda’ Law

July 27, 2021—Hungarian President Viktor Orbán doubled down on his country’s law barring any mention of LGBTQ issues in education and the media. Instead of acquiescing to the European Union Parliament’s recent condemnation of the domestic law, Orbán is planning a national referendum on the issue. The vote is to take place by late 2021 or early 2022. The video is available in French by the AFP. Orbán said the law protects children from “sexual propaganda” and that any EU sanctions were unjust. Earlier this month, the EU Parliament voted overwhelmingly to suspend European funds to Hungary because of the new law. EU leaders said the law “constitutes a clear breach of the EU’s values, principles and law.” Rebuke of EU 'Abuse' Orbán said the proposed five-question referendum is mean...
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EU Invests In Western Balkan States, Discusses Enlargement Plans
9Jul By Steve BerlinNo Comments
Europe, EU, Eurozone, Globalization, Global Disintegration, Types of News: Brief

EU Invests In Western Balkan States, Discusses Enlargement Plans

German Leader Angela Merkel hosts the 2021 Berlin Process in a virtual meeting. Angela Merkel Hosts 8th Annual Berlin Process Engaging Western Balkans July 7, 2021-European Union leaders said they are encouraged by the progress Western Balkan countries are making in pursuit of EU membership. Writing on Twitter, EU President Ursula von der Leyen said the EU needs to “speed up the enlargement process.” She also said the process aids the applicants. The EU restated its commitment to helping the Western Balkans with post-pandemic economic recovery efforts via infrastructure investments, as well as financial and technical assistance among other avenues. Berlin Process for Admission The Berlin Process is the lengthy path to EU membership for Albania (applied 2009), Bosnia and Herz...
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EU Presses Hungary To Restore Rule of Law, Human Rights
8Jul By Steve BerlinNo Comments
Corruption, Bribes, Illicit Finance & Money Laundering, Democracy, Domestic Politics, Europe, EU, Eurozone, Types of News: Brief

EU Presses Hungary To Restore Rule of Law, Human Rights

European Parliament debates a Hungarian law blocking broadcasts that include homosexuals. July 8, 2021. Source: European Commission. European Lawmakers Grow Increasingly Discontent Over Dismantling of Democracy in Hungary July 8, 2021--Six months into a new law linking EU funds to a condition requiring members to uphold the rule of law, European lawmakers are primed to use the new power in a case against member-state Hungary. Today, the European Parliament voted in favor of a resolution condemning Hungary for "state-sponsorship" of censorship against homosexuals. The vote of 459 for, 147 against and 58 abstentions came as a new Hungarian law banning depictions of homosexuals in media took effect. Today's resolution condemns "in the strongest possible terms" the Hun...
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Europe Agrees on 2030 Emissions Targets, Changes to Energy and Transport Sectors
11Dec By Patti MohrNo Comments
Climate Action, ESG, Sustainable Finance, Energy Policy, Oil & Gas, Europe, EU, Eurozone, Types of News: Brief

Europe Agrees on 2030 Emissions Targets, Changes to Energy and Transport Sectors

Dec. 11, 2020--A year after introducing the Green New Deal, the European Council agreed today to targets for reducing greenhouse gas emissions within the next decade. The plan envisions cutting emissions by 55 percent of 1990 levels by 2030. The deal requires significant changes to the energy and transportation sectors. It also calls for investment in energy-efficient buildings and infrastructure for electric cars. European Commission President Ursula von der Leyen said the agreement "future-proofs" the European Union. "Today's agreement puts us on a clear path towards climate neutrality in 2050. It gives certainty to investors, to businesses, to public authorities and to citizens," von der Leyen said in remarks given after the European Council meeting today. Leaders emerge fr...
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