ANNUAL ADVERTISING RATES FOR INSURE-DIGEST

Annual Advertisement Rates

Friday, January 26, 2018

EU - Davos: New momentum for Europe?

US President Donald Trump wants to put America first. And China isnot exactly a champion of democracy and human rights. That's why someEuropeans think it's time for them to step up to the plate and play a more important role on the world stage. In their speeches in Davos, German Chancellor Angela Merkel and French President Emmanuel Macron both spoke out for free trade, international rules and universal humanist values.

The only problem is that the EU itself is deeply divided. The financial crisis has left deep scars, unemployment is high in many countries, the migration crisis has strained relations between member states and nationalism is on the rise.

Nonetheless, EU Trade Commissioner Cecilia Malmström believes that Europe has a lot to offer to the rest of the world. She sees the current lack of leadership by the US as an opportunity for the EU "to show we can do good trade agreements which re sustainable and mutually beneficial.

We can promote European values through that, and we can create alliances and friendship with countriesacross the globe," Malmström said in a Davos panel called "A new momentum for Europe."

Mark Rutte, prime minister of the Netherlands, agreed in principle but added that even the European common market was still far  from complete.

"We could add €1.5 trillion [$1.86 trilion] to the European economy — that's the size of the Spanish economy — by implementing the single market for digital, services, capital and
energy."

Adding these elements would create 4 million new jobs in Europe. "At the moment, we are not doing that. The European internal market is  only there for goods, only 30 percent of the European economy is part of the internal market," said Rutte.

Portugal's Prime Minister Antonio Costa tried to look on the bright side of life.

After the Brexit decision in the UK, "we have new energy for change in Europe," he said. "It's a Brexit paradox: the remaining 27 countries have made an effort to advance Europe."

Costa pointed to a closer cooperation on defense, an example that was also singled out by Merkel and Macron on the previous day.

But a Germany and a France presenting themselves as Europe's engine also have smaller countries worried, says Ireland's Prime Minister Leo Varadkar. "We don't want to see meetings in Paris and Berlin where only countries with more than 40 million people are invited to attend — and the smaller countries being told afterwards what is good for Europe."

The current migration crisis has brought to light how deep the divisions in Europe are. Countries like Hungary and Poland are refusing to take in migrants, while Italy and Greece see new boats with Africans arrive at their shores every day.

Read more: Davos: New momentum for Europe? | Business| Economy and finance news from a German perspective | DW | 25.01.2018