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EU leaders are gathering in Brussels on Wednesday to discuss how to kick-start growth in Europe while keeping deficits down. New French President Francois Hollande has increasingly been putting pressure on German Chancellor Angela Merkel to reconsider her negative views on Euro bonds, bonds jointly underwritten by all eurozone member states. Hollande warned on Saturday during a G8 Summit in Camp David that he is not alone in supporting the proposal. Italy's Monti, Spain's Rajoy and the EC are ...
NATO's new European missile defense system is ready too start operating. This is one of the messages that came out of a two-day Summit held in Chicago where the leaders of the 28-nation alliance are gathering. The mechanism will link together the missile defense systems of all the allies and it will be controlled by NATO. NATO's Secretary general said that this is the first step towards a long-term goal of providing full coverage and protection for all NATO European populations.Russia has voic...
They will meet in only a few hours. The new French president Francois Hollande has already warned German Chancellor Angela Merkel that he wants growth to be the way out of the crisis. After being sworn in, Hollande delivered a 10 minute speech in which he vowed to "open a new path for Europe", marking the end of the 'Merkozy" era. Angela Merkel said that she will "welcome the new leader with open arms". However, Hollande's proposals, such as issuing eurobonds to boost European investment or al...
Discussions of a Greek euro exit, or a Grexit, have become more prominent in Brussels after Greek leaders failed to form a coalition government since elections were held on 6th of May. But eurozone finance ministers on Monday reaffirmed their commitments to keep Greece in the euro zone.But the EU also warned the Greek authorities that the austerity measures agreed need to be implemented. Greece is due to receive a second bailout in early June in order to avoid default. For the first time since...
In the wake of the elections in France and Greece, European Council President Herman Van Rompuy has called for an informal summit of EU leaders on the 23rd of May to discuss the growth agenda in Europe. The informal dinner will lay the ground for another meeting at the end of June when leaders are expected to take decisions on their growth and budget consolidation strategy."Reducing debt and deficits is essential to build confidence and but borrowing costs. Every euro spend on interest payment...
As if it were the plot of a Greek tragedy, the Greek people went to the polls on Sunday to punish those leaders who run the country in "austerity" mode. Both socialist PASOK and centre-right New democracy failed to get enough votes, although New Democracy emerged as the biggest party. But the center-right leader Antonis Samaras couldn't put together a coalition on Monday. So now is the turn of Syriza. This radical left-wing coalition became the second political force and will try to negotiate ...
The victory of French social-democrat Francois Hollande in the Sunday’s presidential elections creates a completely new dynamic on the European agenda. The newly elected president has openly positioned himself against Germany's way of managing the euro crisis, emphasizing that Austerity can no longer be the only option. EU Commission Chief Jose Manuel Barroso, a member of Sarkozy’s political family, welcomed Hollande's victory. Barroso said both leaders share the same growth-driven view for Eu...
The second largest economy in Europe and a debt-ridden country on the brink of default. France and Greece are holding elections this Sunday in what can be the day that Europe re-shapes its economic future. According to the latest polls, French socialist frontrunner Francois Hollande is 7 points ahead of his rival President Nicolas Sarkozy. Hollande has openly rejected the current austerity trend that dominates Europe in favour of growth-oriented measures. "The French elections are going to be ...
This video is based on interviews at the 2012 Economic Ideas Forum in Dublin, organized by the Center for European Studies (CES).
European Finance Ministers on Wednesday met in Brussels to agree on new capital requirement rules for banks. The new law affects over 8000 banks across Europe. It aims to give them more flexibility to protect themselves against future financial crisis. The Danish presidency hopes to reach a deal on the new capital rules among EU member states before the summer. Their proposal would allow national regulators to ask for a 3% increase of capital without permission from the European Commission. An...