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Despite a year marked by one of the worst crises in decades and repeated scenes of social unrest across the continent, the European Union has been awarded the 2012 Nobel peace prize. The Norweigien prize committe awarded the 27-nation bloc for its 60 years of contributions to the advancement of peace and reconciliation, democracy and human rights in Europe. The award today by the Nobel Committee shows that in these difficult times the European Union remains an inspiration for countries and peo...
Eurozone's new permanent rescue fund was launched on Monday at a meeting of finance ministers in Luxembourg. Funded by taxpayers' money, the so-called European Stability Mechanism will have a 500 bn euro budget to help finance debt-ridden countries. The start of the European Stability Mechanism marks an historic milestone in shaping the future of the European monetary Union. The Euro area now is equipped with the effective firewall which of course is a crucial component of our strategy to ensu...
Despite the 'hundreds' of defects pointed out by a commission's leaked report, the European Commission on Thursday said that the safety of all nuclear reactors across Europe is 'satisfactory”.“The safety situation in the EU is at good level and satisfactory. There is no nuclear power plant which must be shut down immediately for safety reasons', said Günther Oettinger, Member of the EC in charge of Energy.Earlier this week, the leaked Commission's safety review underlined that many of those nu...
EurActiv article: http://www.euractiv.com/specialreport-jobs-growth/barnier-launches-growth-drivers-news-515169The Single Market is considered by many as the biggest European achievement since the Union was created. It was born 20 years ago to ensure EU citizens can live, work, study or shop in any country. With more than 500 million consumers, EU businesses are also free to sell their goods and services anywhwere across the continent. Today, the European Commission believes that the single ma...
Georgia is going to the polls on Monday in a crucial day for the future of the country. Tension is high after images of prison guard abusing inmates were broadcasted on national television. The scandal sparked protests across the country and damaged the government's reputation. Earlier this year, the European Commission expressed its concern over Georgia's state of democracy and judicial system. Many international observers, including a handful of MEPs, are in the country to monitor the smooth...
European and Chinese leaders gathered in Brussels on Thursday for the 15th EU-China Summit. No 'big decisions' were expected but the summit aimed to 'consolidate' relations between both powers. The summit created controversy as journalists were left hanging when the usual post-summit press conference was called off. The Chinese authorities wanted to impose restrictions on the number of journalists allowed into the conference. The EU said no. According to the Brussels-based international press ...
EurActiv article: http://www.euractiv.com/elections/experts-rutte-poised-second-term-news-514695After an election campaign dominated by the euro zone crisis, the Netherlands will go to the polls on Wednesday in what could be a decisive day for Europe. Caretaker Prime Minister Mark Rutte is currently leading the polls with 35 seats in the 150-seat parliament. His center-right, pro-austerity VVD party is expected to form a coalition government. However, the outcome of the election is still uncer...
This is the man who claimed he can save the euro. After weeks of uncertainty, European Central Bank's chief Mario Draghi on Thursday unveiled a much-awaited bond-buying plan. The scheme includes buying 'unlimited' amounts of short-term government debt from troubled countries and it is designed to lower the borrowing costs of Italy and Spain. Draghi also said the scheme was a "fully effective backstop" and that the euro was "irreversible".But the ECB will only intervene if debt-ridden countries...
Despite a strong German opposition, the ECB could buy government bonds maturing in three years or less. This is what European Central Bank chief Mario Draghi suggested to a closed hearing at the European Parliament on Monday, according to MEPs present. "I understood the exchange in such a way that in the future there will be again interventions by the ECB." ALSO "I would see this in such a way that there could be tensions in the ECB Board, that's why he did not wanted to comment in public.", s...
European Commission president Jose Manuel Barroso said on Thursday that he will unveil a banking union proposal on September 12th. The proposal will coincide with his “State of the Union” speech at the European Parliament, and will outline a plan that could see the European Central Bank increasing its powers of supervision and intervention. The banking union is expected to focus on euro-zone members, as non-eurozone countries are likely to opt-out.EU leaders agreed at the last EU summit in Jun...
