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Saturday, March 31, 2018

The Netherlands: banking industry electronic transactions work against consumers and in favor of banks during Public holidays and weekends - by RM


Banks in the Netherlands and probably also in many other places around the world are saying they can not make automatic electronic transfers during religious and other public holidays.

The question one should immediately pose ,when the banks make that statement is; why? Why should automatic banking transactions done on public holidays be any different from those done during the regular work week?

 For example: if you make an electronic transfer during the 4 day Easter holiday weekend in the Netherlands, say on Good Friday, to another bank account, the transferred money is immediately electronically debited from your own account, but than, the money only re-appears 4 days later on the account to which it was electronically transferred. before you see that transfer on your statement.

Obviously the question it raises is: WHAT DOES THE BANK DO WITH YOUR MONEY during those four days, or any other amount of time they hold it without telling you where it is or what they do with it during that time ?

What is happening to your money while it is hidden those four days of the Easter weekend or less during other regular Public holidays ?

The answer should not be too difficult to figure out . The bank has probably been making millions on interest and other speculative activities with your money.

If you ask the bank, however,  you will certainly get  a rather vague story.

Something definitely needs to be done here, especially given the bad reputation that banks have gained in recent years during and after the financial crises.

Almere-Digest
Posted by EU-Digest at 11:01 AM
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Labels: Bad reputation, Banking Industry, Electronic transactions, EU, nebulous, Public Holidays, The Netherlands, Weekend, Workweek

Friday, March 30, 2018

Turkey: Controversial Turkish-Azerbaijani gas pipeline gets major EU loan

Recently  the board of directors of the European Investment Bank (EIB) green-lighted a EUR 932 million loan to the Trans Anatolian gas pipeline (TANAP), the Turkish section of the Southern Gas Corridor, a month after handing out the largest ever fossil fuels loan to the western section of the same project.

The Southern Gas Corridor is the biggest energy project the EU is currently pursuing, with the intention of annually delivering 6 billion cubic meters of Azerbaijani gas to Turkey and additional 10 billion cubic meters to the EU. Scheduled to be completed later this year, the 1800 kilometers long TANAP would traverse Turkey from the border with Georgia to the border with Greece.

Civil society groups – including Bankwatch, Counter Balance, 350.org, Re:Common, CEO, Friends of the Earth Europe and many others – have been repeatedly warning that the Southern Gas Corridor project is at odds with EU commitments on both human rights and climate action.
.
A study released by Bankwatch in late January has shown that, due to fugitive methane emissions and burning of gas, the Southern Gas Corridor’s climate footprint could be comparable to that of coal, the dirtiest source of energy, or even worse.

In addition, there are mounting concerns over corruption among both governments and companies involved in realising the Southern Gas Corridor. In Turkey, all subcontractors hired by the state-owned energy firm Botas for the project have close ties to President Erdogan’s AK Party, according to a Bankwatch report from December 2016.

An international journalistic investigation published in April 2017 also unveiled the extensive network of politically exposed people in Turkey and Azerbaijan that stand to directly benefit from the project.

In light of the disturbing human rights situation under the increasingly authoritarian regimes in both Turkey and Azerbaijan, last December, 33 Members of the European Parliament wrote to EIB President Werner Hoyer, urging him to suspend plans to finance the TANAP project.

Today’s approval of the EIB’s loan adds to chain of investments in the Southern Gas Corridor from multilateral development banks now totalling over EUR 6 billion in public money.

This decision also took place a day after the European Court of Auditors criticized European financial support to Turkey for being particularly ineffective when it came to the independence of the Turkish judicial system, fighting corruption and media freedom.

Anna Roggenbuck, Policy Officer at CEE Bankwatch Network, said: “With the decision to finance TANAP, the EIB has shown its disregard to Europe’s commitments to climate change mitigation.This project has been approved without a proper climate impact assessment, and in contradiction to pledges under the Paris Agreement to keep global temperature rise to well below 2 degrees Celsius which entails limiting fossil fuels consumption.”

Colin Roche, extractives campaigner with Friends of the Earth Europe, said: “Like adding gas to a fire, today’s decision by the EIB, the EU’s investment bank, to pour more funds into new gas infrastructure is yet another cash injection for climate destruction. The more we invest in gas pipelines like TANAP the more we lock Europe into decades of fossil fuel dependency when we need to be moving to a fossil free future.”

Note EU-Digest: Obviously it would be of interest to many people - to hear the motives from the EIB what led them to provide loans for this controversial project.

Read more: Controversial Turkish-Azerbaijani gas pipeline gets major EU loan | Counter Balance
Posted by EU-Digest at 9:14 PM
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Labels: Azerbaijani gas pipeline, EIB, Energy Project, Fosil Fuels, Friends of the Earth Europe, Polution, Turkey

Thursday, March 29, 2018

European Banking Industry: EU Commission wants fees cut on cross-border payments and transfers - by Irene Kostaki

Banks in the European Union will have to cut fees on cross-border payments, according to legislative proposals put forward by the European Commission on March 28.

European Commission Vice President for the Euro Valdis Dombrovskis’ plan is to make banks lower their consumer costs in the banking sector. The move is expected to reduce profits mostly for banks outside the 19 Eurozone member states, while the sector suffers from stiff competition from FinTech firms.

The EU’s second Payment Services Directive (PSD2), which came into force at the beginning of the year, lowers charges or has no fees for trans-national payments in euros within the Eurozone. Charges remain higher, however, for cross-border transactions from other EU countries outside the Eurozone.

Currency conversion fees will be capped for three years to put an end to excessive charges when EU citizens withdraw money or use their payment cards abroad or online for payments in or into euros.

“With today’s proposal we are granting citizens and businesses in non-euro area countries the same conditions as euro area residents when making cross-border payments in euro,” Dombrovskis, said on Wednesday.

When EU citizens buy abroad and decide to use the option provided and pay in their home currency, a local bank or other payment service providers will convert the amount of the transaction on the spot in exchange for a fee, a system known as a dynamic currency conversion fee.

“While dynamic currency conversion allows consumers to know immediately how much they have to pay, the use of this service is often more expensive than with their bank,” according to the European Commission.

The lack of necessary information to make the best choice often results in consumers being unfairly led towards the more expensive currency conversion option. The European Banking Authority will be tasked with drafting the necessary Regulatory Technical Standard to implement the new regulations, according to the EU executive

The EU Commission proposes a three-year transition period, after which, banks, credit cards, and other payment services will have to show currency conversion fees to consumers before they pay to allow each customer to determine whether it is cheaper to pay the conversion offered by their bank or the dynamic conversion service.

Read more: EU Commission wants fees cut on cross-border payments and transfers
Posted by EU-Digest at 9:05 PM
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Labels: Banking fees, Controls, Credit Cards, EU, EU Commission, EU Parliament, Limits

Wednesday, March 28, 2018

Brexit Vote Fraud: May says Vote fraud allegations will not derail Brexit

British Prime Minister Theresa May says her government will continue with plans to leave the European Union, despite allegations that the Leave campaign received illegal funds.

May said during Prime Minister's Questions: "Can I simply say this. If there are those who are trying to suggest that the Government should be rejecting the result of the referendum as a result of these sorts of claims, I will say very clearly, the referendum was held, the vote was taken, the people gave their view, and we will be delivering on it."

Two separate whistleblowers, one from Cambridge Analytica and one from within the Vote Leave group have instructed lawyers to hand over evidence to the Electoral Commission to outline their claims that Vote Leave acted illegally.

The allegations have scandalised Brexit, one year before the UK plans to leave the EU.

Facebook's Mark Zuckerburg has been forced to apologise for how his company used people's data and questions have been rasied about how tech companies have intervened within democratic processes.

Vote Leave officials deny breaking election rules and call this an attempt to undermine Brexit.

Read more: Brexit Vote Fraud - May says Vote Leave fraud allegatiions will not derail Brexit | Euronews
Posted by EU-Digest at 10:23 PM
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Labels: Brexit, Britain, Cambridge Analytica, EU, EU Commission, EU Parliament, Fraud, Vote, Vote Leave group

Tuesday, March 27, 2018

US Economy: not as rosy as some say - Dow closes nearly 350 points lower as tech stocks tank - by Fred Imbert and Alexandra Gibbs

Stocks closed sharply lower Tuesday, erasing earlier gains as a decline in the broader tech sector brought the major averages down.

The Nasdaq composite fell 2.9 percent as shares of Apple and Amazon declined. The S&P 500 pulled back 1.7 percent, with tech sliding 3.5 percent. The Dow Jones industrial average closed 344 points lower and re-entered correction territory, with Microsoft as the worst-performing stock in the index.

Earlier in the session, the Dow rose 243 points, while the S&P 500 and Nasdaq also traded higher.

Facebook shares contributed to tech's losses as they fell 4.9 percent after Bank of America Merrill Lynch reduced its price target on the stock for the second time in five days. The cut comes as Facebook's fallout from the data scandal continues.
Posted by EU-Digest at 8:37 PM
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Labels: Decline stock market, Donald Trump, long range. Deficit, Meltdown, US Economy, USA

Monday, March 26, 2018

EU RAIL INDUSTRY MERGER: Franco-German deal creates European high-speed railway champion conglomerate

Europe's High Speed  Railroad 
Network Best In The World
Train manufacturers Siemens and Alstom penned a merger agreement on Monday in Paris, pending an approval by anti-trust authorities.

The main rationale is the emergence of a Franco-German European champion able to compete with China’s state-owned CRRC giant. The new European champion will have a combined turnover of €15bn, about half the market share of CRRC

Alstom has just under 33,000 employees Europe'sworldwide, just over the Siemens Mobility section of 29,000.

The new company will be headquartered in France, which has a technological edge having developed the TVG high-speed train system. News of the merger in autumn 2017 was met with skepticism, with the French press opposing a majority stake by Siemens.

Siemens will own 50% of Alstom, gaining a 0,5% controlling stake over the next four years. The French government backs the Paris-based company and will be placing a major multi-billion Euro order for over 100-next generation TGV trains over the next three months.

Alstom employs 32,800 people worldwide. Siemens Mobility has 28,800 staff members.

Read more: Franco-German deal creates European high-speed railway champion
Posted by EU-Digest at 9:19 PM
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Labels: ALSTOM, China, Competition, Conglomerate, CRRC, Economy, EU Commission, EU Railroad Industry, France, Germany, Merger, Siemens

Sunday, March 25, 2018

European Space Agency warns: China's Tiangong-1 space station 'will crash into Earth over Easter' possibly hitting populated areas- by Harry Pettit

China's out of control space station Tiangong-1 to crash on earth
China's out-of-control space station will crash into Earth this coming Easter weekend, according to the European Space Agency.

The agency's Space Debris Office has said Tiangong-1 will hit somewhere across our planet's northern hemisphere between March 30 and April 2.

Previous estimates suggested the rogue station, China's out of Cwhich is carrying highly toxic chemicals, would enter Earth's orbit on April 3.

According to experts tracking the station, it has the highest chance of crashing along a narrow strip around latitudes of 43 degrees north and south.

The ESA said crash date estimates were 'highly variable' and that its experts would be offering revised forecasts every couple of days.

'At no time will a precise time/location prediction from ESA be possible,' the agency's Space Debris Office, based in Darmstadt, Germany, said in a statement.

The doomed 8.5-tonne craft has been hurtling towards Earth since Chinese scientists lost control of it in 2016.

Experts believe most of Tiangong-1 will burn up upon reentry, but shards as large as 100kg (220lbs) could strike Earth.

Scientist believe that even in 'high risk' areas, the chance of being struck by Tiangong-1 debris is about one million times smaller than the odds of winning the Powerball jack. 

However, there is a chance parts of the station containing hazardous hydrazine could plummet into a highly-populated area.

Following Cities are listed as potential crash sites:
Barcelona Spain Milwaukee USA
Beijing China Monaco Monaco
Bilbao Spain Naples Italy
Boise USA New York USA
Boston USA Nice France
Boulder USA Philadelphia USA
Buffalo USA Pittsburgh USA
Cannes France Punta Arenas Chile
Chicago USA Rochester USA
Christchurch New Zealand Rome Italy
Cleveland USA Salt Lake City Spain
Concord USA San Sebastian Spain
Des Moines USA Sapporo Japan
Detroit USA Sioux Falls USA
Florence Italy Sochi Russia
Istanbul Turkey Stanley Falkland Islands
Kushiro Japan Toronto Canada
Madrid Spain Trelew  Argentina 
Marseilles France Valladolid Spain
Read more: China's Tiangong-1 space station 'will crash into Earth over Easter' | Daily Mail On
Posted by EU-Digest at 9:03 PM
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Labels: Crash, Earth, ESA, EU, European Space Agency, Labels: China, Out of Control, populated areas, Space debris, Tiangong-1

Saturday, March 24, 2018

Internet High Speed Communications: 5G: how EU is helping to turn it into an engine for growth

The European Commission has prepared an action plan to facilitate the deployment of 5G across the EU. MEPs voted in favour of supporting the plan on 1 June, but stressed that coordination between EU countries would be crucial to avoid delays that were experienced when 4G was introduced as not enough spectrum was available.

Polish EPP member Michał Boni, the MEP responsible for steering the plan through Parliament, warned: "The member states have to understand that we have to avoid the fragmentation of decisions and solutions if we want to achieve the 5G objectives.”

He also stressed the importance of making it easier to invest in this: “Investments are the key for achieving 5G goals. The simplification of legal framework, flexible models for co-investments and long-term certainty and predictability are required.”

To watch the plenary debate in the EU Parliament click here: Video: watch the plenary debate on 5G

Read more: 5G: how EU is helping to turn it into an engine for growth | News | European Parliament
Posted by EU-Digest at 5:31 PM
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Labels: 5G, communications, EU Commission, EU Parliament, High Speed, implementation, Internet, Investments, Medical Benefits, No fragmentation

Friday, March 23, 2018

USA Trump Tariffs - EU threats against Trump tariffs work - Trump backs down, temporarily excludes EU, 6 other allies from aluminum/steel tarifs - by Lesley Wroughtons

Mommy Merkel will spank you Donald if you keep misbehaving
U.S. President Donald Trump has temporarily excluded six countries, including Canada and Mexico, and European Union states from higher U.S. import duties on steel and aluminum meant to come into effect on Friday.

In a presidential proclamation published late on Thursday, Trump said he would suspend tariffs for Argentina, Australia, Brazil, South Korea, Canada, Mexico and the European Union, the U.S.’s biggest trading partner, until May 1, 2018 as discussions continue.

After May 1, Trump would decide whether to permanently exempt the countries based on the status of talks, the White House said in a statement.

Earlier, German Chancellor Angela Merkel warned that the EU would respond firmly if the United States did not exempt European steel and aluminum.

The EU also has published a list of US products, services and corporations  which would immediately be targeted if Trump did not back down from his tariff threats..

Note EU-Digest: the response by the EU and Mrs. Merkel in reference to the Trump proposed tariffs was excellent, and an example of how the EU should continue to deal with Donald Trump's tantrums,wild threats, and fantasy, about making America great again.  

EU-Digest - from Reuters report
Posted by EU-Digest at 10:28 PM
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Labels: Donald Trump, EU Commission, EU Parliament, Fantasies, Making America Great again, Steel and Aluminum Tariffs, tantrums, Unity, wild dreams

Thursday, March 22, 2018

Armageddon: 'Collapse of civilisation is a near certainty within decades' - by Paul Ehrlich

A shattering collapse of civilisation is a “near certainty” in the next few decades due to humanity’s continuing destruction of the natural world that sustains all life on Earth, according to biologist Prof Paul Ehrlich.

In May, it will be 50 years since the eminent biologist published his most famous and controversial book, The Population Bomb. But Ehrlich remains as outspoken as ever.

The world’s optimum population is less than two billion people – 5.6 billion fewer than on the planet today, he argues, and there is an increasing toxification of the entire planet by synthetic chemicals that may be more dangerous to people and wildlife than climate change.

Ehrlich also says an unprecedented redistribution of wealth is needed to end the over-consumption of resources, but “the rich who now run the global system – that hold the annual ‘world destroyer’ meetings in Davos – are unlikely to let it happen”.

The Population Bomb, written with his wife Anne Ehrlich in 1968, predicted “hundreds of millions of people are going to starve to death” in the 1970s – a fate that was avoided by the green revolution in intensive agriculture.

Many details and timings of events were wrong, Paul Ehrlich acknowledges today, but he says the book was correct overall.

“Population growth, along with over-consumption per capita, is driving civilisation over the edge: billions of people are now hungry or micronutrient malnourished, and climate disruption is killing people.”

Read more: Paul Ehrlich: 'Collapse of civilisation is a near certainty within decades' | Cities | The Guardian
Posted by EU-Digest at 7:55 PM
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Labels: Armageddon, Civilization, Climate Change, Disaster, EU Commission, EU Parliament, Humanity, Paul Ehrlich, Population Explosion, US Congress

Tuesday, March 20, 2018

Trump Tariffs: China reacts to Trump's tariffs by vowing to open its markets further - Simon Denyer - by Simon Denyer

China responded to the threat of new tariffs from the United States by vowing Tuesday to further open its own markets to foreign trade and investment, while warning that a trade war between the two nations would hurt both sides.

President Trump is preparing to impose a package of $60 billion in annual tariffs against Chinese products, a move that he says will punish China for intellectual property theft and create more U.S. jobs, administration officials say. He is determined to bring down the U.S. trade deficit with China, which reached $375 billion last year.

But China’s premier, Li Keqiang, said the issue should be solved through dialogue and negotiation.

“No one will emerge a winner from a trade war,” Li told a news conference at the conclusion of China’s annual parliamentary session. “What we hope is for us to act rationally instead of being led by emotions.”

Read more: China reacts to Trump's tariffs by vowing to open its markets further - The Washington Post

Posted by EU-Digest at 1:15 PM
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Labels: China, Trade Deficit., Trade wars, Trump Tariffs, USA

Monday, March 19, 2018

Britain - Brexit: Negotiators ready Brexit transition deal, Irish border uncertainty persists

Negotiators from the European Union and Britain on Monday hailed major progress in the Brexit talks, but conceded there had been no breakthrough on keeping open the Irish border.

Britain is due to leave the European Union at the end of March 2019, but Brexit talks must be concluded by this fall to leave national parliaments in the bloc time to ratify any deal.

"We have travelled a large section of the path toward an orderly withdrawal," EU chief negotiator Michel Barnier told reporters in Brussels. He said that negotiators, working day and night recently, had agreed on "a large part of what would constitute" the draft legal treaty governing Britain's departure.

He said the two sides have also reached an agreement on a transition period to help ease Britain out of the EU once it officially leaves on March 29, 2019. Barnier said the period would be "of a limited duration," in all likelihood ending on Dec. 31, 2020.

Read more: Negotiators ready Brexit transition deal, Irish border uncertainty persists - France 24
Posted by EU-Digest at 12:23 PM
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Labels: Agreement, Brexit, Britain, EU, EU Commission, Open Irish Border, Transition time

Sunday, March 18, 2018

USA - Retailing industry:Retailers are filing for bankruptcy at a staggering rate — and these 19 companies could be the next to default -by Hayley Peterson

Retail bankruptcies and defaults hit a peak last year, soaring past records set during the recession, and things could get even worse this year, according to the credit-ratings agency S&P Global Ratings.

"We believe defaults in 2018 could match or exceed last year's record level," S&P Global Ratings analyst Robert Shulz wrote in a recent report that identified 20 retailers at risk of defaulting.
The pace of retail liquidations could also pick up this year, he wrote.

"Despite store closures amid the turmoil, the US remains significantly oversaturated with retail stores," he wrote. "Some retailers have made progress towards better aligning their physical footprint to the new reality of physical versus virtual sales, but there is still excess capacity."

Toys R Us will likely become the first retailer to liquidate in 2018. The company filed a motion to liquidate its business on Thursday, meaning it will close or sell its remaining 735 US stores.

Among the bankruptcies so far this year are Bon-Ton Stores, which filed in February, and Bi-Lo, which owns the grocery store chains Winn-Dixie and Tops Friendly Markets.

The girls' jewelry and accessory chain Claire's is reportedly preparing to declare bankruptcy soon as well.

S&P Global Markets has identified the 19 retailers that are most at risk of defaulting next.

Here's the full list.
  • 99 Cents Only Stores LLC
  • Bluestem Brands, Inc.
  • Everest Holdings, LLC
  • FULLBEAUTY Brands Holdings Corp.
  • J.Crew Group, Inc.
  • New Academy Holding Co. LLC
  • PetSmart Inc.
  • Steak 'n Shake Inc.
  • SSH Holdings
  • David's Bridal, Inc.
  • Neiman Marcus Group
  • Evergreen AcqCo 1 LP
  • HT Intermediate Holdings Corp.
  • Payless
  • BKH
  • The Fresh Market
  • Guitar Center
  • Claire's Stores, Inc.
  • Sears Holdings
Read More: Retailers are filing for bankruptcy at a staggering rate — and these 19 companies could be the next to default
Posted by EU-Digest at 7:34 PM
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Labels: Bankruptcies, Forecast, Retailers, USA

Saturday, March 17, 2018

US Economy: How debt could blow up the Trump economy- by Shawn Tully

Donald Trump is pitching, as only Donald Trump can pitch, that a major economic revival is energizing America for a new run at greatness, and that he’s the straw stirring the elixir. In one representative recent tweet, the President declared, “Our economy is now booming and with all I am doing, will only get better … Our country is WINNING again!”

Though “booming” is Trumpian overstatement, it’s undeniable that by many criteria, the President’s agenda is proving remarkably successful. In Trump’s first three full quarters in the White House, GDP clocked growth just shy of his vaunted goal of 3%, a performance that by recent standards looks stellar.

The stock market has added a quarter to its value since the election, a $5 trillion vote of confidence. The jaunty outlook is recharging animal spirits in corner offices: In its January survey of small companies, the National Federation of Independent Business found that 32% of the enterprises rated the present climate “a good time to expand”; that was a record high and a threefold increase from late 2016.

Fueling the giddiness is the President’s signature legislative achievement: the Tax Cuts and Jobs Act, which slashed rates for corporations from 35% to 21%. The new law is a runaway hit with business leaders. Companies as varied as American Airlines aal , Walmart wmt , and Verizon vz predict that the measure will swell their earnings for years to come, and marquee CEOs from JPMorgan Chase’s jpm Jamie Dimon to Boeing’s ba Dennis Muilenburg laud it as a powerful tonic for American competitiveness. The looming profit surge has prompted more than 200 Fortune 500 companies to raise their minimum pay (U.S. Bancorp, Humana), issue one-time bonuses to employees (Home Depot, Walt Disney), or both.

Trump’s heady economic potion, however, is masking misguided policies that could leave those same businesses with a severe hangover from today’s celebration. The U.S. government’s huge and growing budget deficits have become gargantuan enough to threaten the great American growth machine. And Trump’s policies to date—a combination of deep tax cuts and sharp spending increases—are shortening the fuse on that fiscal time bomb, by dramatically widening the already unsustainable gap between revenues and outlays. On our current course, we’re headed for a morass of punitive taxes, puny growth, and stagnant incomes for workers—a future that’s the precise opposite of what Trump champions.



By 2028, America’s government debt burden could explode from this year’s $15.5 trillion to a staggering $33 trillion—more than 20% bigger than it would have been had Trump’s agenda not passed. At that point, interest payments would absorb more than $1 in $5 of federal revenue, crippling the government’s ­capacity to bolster the economy, and constraining the private sector too. Contrary to the claims of the President and his supporters, the U.S. can’t grow fast enough to shed this burden; indeed, Trump’s agenda on immigration and trade looks likely to stunt that growth. (More on that later.) “This is almost like climate change,” says Mark Zandi, chief economist at Moody’s Analytics. “It doesn’t do you in this year, or next year, but you’ll see the ill effects in a day of reckoning.”

In the absence of decisive, quick action to tackle this slow-motion crisis, the best-case scenario for the next few years is that America becomes a much riskier place to do business. A high debt load will limit our flexibility to keep the economy on an even course. “Countries with high debt don’t respond aggressively to downturns,” says Harvard economist Kenneth Rogoff. If the U.S. slips into recession, we’ll lack the option of lowering taxes or increasing spending on infrastructure, for example, as tools to revive growth. And as the debt load grows, efforts by the Federal Reserve to stimulate the economy with lower rates would be more likely to feed runaway inflation. “Then, investors will dump Treasuries,” says John Cochrane, an economist at the Hoover Institution. “That will drive rates far higher, and make the budget picture even worse.”

Read More: How Debt Could Blow-Up the Trump Economy
Posted by EU-Digest at 7:58 PM
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Labels: Black hole, deficit, Economy, EU Commission, EU Parliament, Global Economy, Trade, Trump Economy, USA

Friday, March 16, 2018

Trump - Tariffs: European Union releases 10-page list of potential targets for retaliatory tariffs on U.S. products - by David J. Lynch and Michael Birnbaum

The list offered the most detailed glimpse to date of the likely targets for E.U. action, including products selected for maximum political impact in the United States. Among them: bourbon, a specialty of Kentucky, Senate Majority Leader Mitch McConnell’s home state; cranberries, which are grown in House Speaker Paul D. Ryan’s native Wisconsin; orange juice from Florida; and tobacco from North Carolina.

 “It’s pretty clear they’re trying to wake up American legislators, who are the only ones in government who can influence the president on this issue,” said Chad Bown, a trade expert at the Peterson Institute for International Economics. Still, the European Union said its response to Trump’s tariffs is designed to conform with World Trade Organization

Note EU-Digest: it is high time the EU stops playing footsie with the US and takes their gloves off. There are much tougher ways to deal with the US when it comes to convincing their ego-maniac President.

Trump better take note that the adjusted GDP of the 28 EU member nations  is bigger than both China and the US, based on the traditional list of world's economic super powers.

The EU can do a lot of harm to the US economy if Donald Trump continues on this destructive route
  
Read : moreEuropean Union releases 10-page list of potential targets for retaliatory tariffs on U.S. products - The Washington Post
Posted by EU-Digest at 9:01 PM
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Labels: Donald Trump, Ego Maniac, EU, GDP, US Tariffs, USA

Tariffs War: EU ready to hit big US tech firms with 3% turnover tax

Large digital companies with significant revenues in the European Union such as Google and Facebook could face a 3% tax on their turnover under a draft proposal by the European Commission.

The proposal, expected to be adopted next week and still subject to changes, updates an earlier draft which envisaged a tax rate of between 1 and 5%.

The tax, if backed by EU states and lawmakers, would only apply to large firms with annual worldwide revenues above €750 million ($924 million) and annual “taxable” revenues above €50 million in the EU.

The threshold for EU revenues has been raised from €10 million initially foreseen to exempt smaller companies and emerging start-ups from the tax.

Large US firms such as Uber, Airbnb and Amazon could also be hit by the new levy, which would apply across the 28 EU countries.

Read more: EU ready to hit big US tech firms with 3% turnover tax – EURACTIV.com
Posted by EU-Digest at 6:30 AM
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Labels: Amazon, Annual Taxable revenues, EU, Facebook, Free Trade, Google, Microsoft, Revenues, Tariffs War, US Tech Firms

Thursday, March 15, 2018

South America: Corporations, Environment and Pollution: Coca-Cola And Nestlé To Privatize The Largest Reserve Of Water In South America

Private companies such as Coca-Cola and Nestlé are allegedly in the process of privatizing the largest reserve of water, known as the Guarani Aquifer, in South America. The aquifer is located beneath the surface of Brazil, Argentina, Paraguay and Uruguay and is the second largest-known aquifer system in the world. 

Reported by Correiodo Brasil the major transnational conglomerates are “striding forward” with their negotiations to privatize the aquifer system. Meetings have already been reserved with authorities of the current government, such as Michel Temer, to outline procedures required for private companies to exploit the water sources. The concession contracts will last more than 100 years. 

The first public conversation about this dilemma was scheduled on the same day the process of voting for the impeachment of President Dilma Rousseff was opened. As Central Politico reports, “This coincidence was fatal for the adjournment of the meeting.”
“There must be another list of projects to be granted or privatized in the medium term, with auctions that may occur in up to one year, such as Eletrobras energy distributors and freshwater sources,” adds the news site, translated via Google from Portuguese. 

This issue extends beyond South America, as all humans will be affected by the decision to privatize the second-largest aquifer system in the world. Essentially, the corporations are profiting off a natural resource that should be freely available to all. 

Under the Guarani Aquifer Project’s Environmental Protection and Sustainable Development Project, known as ANA’s Guarani Aquifer Project (SAG), the aquifer would be managed and preserved for present and future generations. Following the conservatives’ victory in Argentina and the coup d’état, pressed for by the ultra right in Paraguay and Brazil, only Uruguay was left to vote on the privatization of the aquifer. 

Approximately two-thirds (1.2 million km²) of the reserve is located in Brazilian territory, specifically in the states of Goiás, Mato Grosso do Sul, Minas Gerais, São Paulo, Paraná, Santa Catarina and Rio Grande do Sul. Future generations will ultimately suffer if this deal goes through, which is why human rights organizations around the world are getting involved.

 Read more: Coca-Cola And Nestlé To Privatize The Largest Reserve Of Water In South America
Posted by EU-Digest at 9:02 AM
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Labels: Aquifer system, Argentina, Brazil, Coca-Cola, Disaster, Environment, Nestlé, Paraguay, Pollution, Privatization, South America, Ultra-Right, Water Quality

Wednesday, March 14, 2018

Weapons Industry: A vicious Circle, as US, Russia,China, EU create wars in Middle East and arms sales there soar amid widespread conflict

Arms imports by Middle East countries mired in violent conflict have doubled in 10 years — and the US, Russia and Europe remain the major suppliers, according to latest research.

Arms imports by Middle Eastern states have more than doubled over the past decade, with the US and European countries the main suppliers of weapons to the region. This is one of the main conclusions of the latest report by SIPRI — the Stockholm International Peace Research Institute.

The independent think-tank dedicated to arms control and disarmament says the volume of international major weapons shipments rose by 10 per cent between 2013-2017 compared to the previous five-year period — largely due to an increase to the far east and the Middle East.

Five countries — the United States, Russia, France, Germany and China — accounted for nearly three-quarters of all arms exports over the past five years.

Note EU-Digest:  :"War is most profitable for us", said one major arms exporter, "and let no one tell you that countries involved in these proxy wars, are in it for moral reasons, It all comes down to economic benefits. So please rest assured these wars will go on forever, for some reason or whatever".

Read more: US and European arms sales to Middle East soar amid widespread conflict | Euronews
Posted by EU-Digest at 4:43 PM
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Labels: .Airbus Industries, China, EU, Global Conflicts, Hypocricy, Major weapon suppliers, Middle East, Open Letter, Russia, USA. Culprits, Vicious Circle, Weapons Industry

Tuesday, March 13, 2018

Britain - Russian Spy Case - Putin is 'tearing up the international rulebook' - EU must show solidarity against Putin's Mafia practises regardless of BREXIT

Britain had hoped for a different scenario but it's now heading into a major showdown with Russia, a senior official at the Royal United Services Institute (RUSI) think tank told Euronews TV.

As tensions mount between the UK and Russia over the poisoning of a former double agent on British soil, Russian President Vladimir Putin appears ready to "tear up completely the rulebook of international behaviour," a senior official at the Royal United Services Institute (RUSI) think tank has told Euronews.

Prime Minister Theresa May gave Russia until midnight on Tuesday to explain how former spy Serguei Skripal and his daughter Yulia were poisoned in the southern English city of Salisbury with a nerve agent developed by the Soviet Union.

Moscow has fiercely denied any connection to the poisoning and says the UK is whipping up anti-Russian hysteria. RUSI International Director Jonathan Eyal said in a Skype interview that May's move had not intended – at least initially – to be an ultimatum.

"As the British prime minister sees it, she was basically trying to give the Russians at least a possibility of getting out of a difficult situation. She hinted at the possibility that they may suggest that these are chemical compounds that have escaped from government control," Eyal said.

"But it is already clear that there is nobody in Moscow in any mood whatsoever at the moment to take that elegant way out and to prevent a much bigger showdown."

Eyal says the UK could cripple the Russian embassy in London by expelling a raft of diplomats, including the Russian ambassador. But any diplomatic retaliation would be more effective if the UK could show it has the support of its European allies.

"I think what will be watched very carefully in Moscow is if Britain is out on a limb on this one, or if the British government manages to carry its allies with it," Eyal said

 May, who said on Monday (March 12) it was "highly likely" that Russia was behind the Skripal poisoning, has already won support from the European Union, which denounced the attack as "shocking."

"As things currently stand, it appears that President Putin in Moscow believes that there is no hope for any good relations with the West, and therefore it’s his turn to tear up completely the rulebook of international behaviour."

Note EU-Digest: Now is the time for the EU to stand firm together with Britain and provide complete support against these Mafia practices of President Vladimir Putin's Government. This is also the time for the EU to put Brexit on the back burner and take up the fight against these totally unacceptable crimes committed on the territory of Britain (EU) by a foreign power.

As to the lip service provided by the US President Trump to Theresa May, one should consider these assurances of support "dubious", given that the US Trump Administrations relationship with the Russian government is still under investigation by the FBI.

EU-Digest
Posted by EU-Digest at 8:33 PM
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Labels: Britain, Donald Trump, EU, EU Commission, EU Parliament, International Diplomacy, Poisoning, Rule Book, Russia, Sanctions. Theresa May, Solidarity, Unity, Vladimir Putin

Monday, March 12, 2018

EU Reaction to US Trump Administration Tariffs: Counter-Tariffs Proposal Is Raising Prospects Of Trade War - by Zoltan Ban

In response to America's steel & aluminum tariff plan, the European Commission has drawn up a list of American products to impose tariffs on, ranging from orange juice to motorcycles.

The proposal needs the approval of EU member states, but if it does go ahead, it will likely lead to US retaliatory measures, which would then spark a trade war.

The onset of a major trade war can result in significant negative side effects, ranging from inflation & higher interest rates, to multinationals taking losses on capital investments abroad.

*It did not take long after President Trump proposed tariffs on imports of steel & aluminum of 25% & 10% respectively, for one of America's main trade partners to announce counter-measures meant to hurt American products in kind. As is the case with many things in the EU it now has to seek the approval of each individual country, which means that it is by no means a done deal. 
*If it does get approval from all EU states however, it will mean that a number of US products, ranging from metals & other industrial goods, to orange juice may be affected. 
*At this point, based on an article I read on a Romanian news site, the total value of American goods affected with a proposed 25% counter-tariff is estimated at $3.5 billion. 
*This by itself is by no means a huge hit to American economic interests, but the inevitable question arises whether this might be only the beginning of a trend which will lead to more and more trade barriers between the world's two largest economies, and perhaps throughout the world.

Read more: EU Counter-Tariffs Proposal Is Raising Prospects Of Trade War | Seeking Alpha
Posted by EU-Digest at 2:24 PM
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Labels: Counter actions, EU, EU Commission, EU Parliament, Tariffs, Trade War, USA

Sunday, March 11, 2018

Ireland - Artificial Intelligence: Ireland committed to digitisation of EU economy, says minister

Ireland’s commitment to the digitisation of the EU economy is to be raised during a high-level meeting in Brussels on Monday.

Minister for Trade Pat Breen will also discuss issues relating to EU competitiveness, including the 25th anniversary of the single market and EU industrial policy when he meets European commissioner for digital economy and society, Mariya Gabriel later.

The Clare TD said: “Digitisation is increasing on a vast scale and Ireland continues to be regarded as one of the EU’s digital front runners.

“We fully support the overall DSM (digital single market) agenda and the Government sees obvious synergies between digital policy initiatives at EU level and national policy.

“In particular, we want to underline the benefits to small and medium enterprises that the DSM will bring in terms of market access and opportunities for growth.

“In helping to progress the DSM, Ireland will continue to strive for outcomes which are pro-trade, pro-enterprise and pro-innovation.”

The DSM is one in which the free movement of people, services and capital is ensured, and where the individuals and businesses can seamlessly access and exercise online activities under conditions of fair competition, and a high level of consumer and personal data protection, irrespective of their nationality or place of residence.

The strategy was endorsed by the European Council in June 2015.
Meanwhile, artificial intelligence will be the central theme when Europe’s nine digital front runner countries meet in Dublin in May.

Mr Breen added: “Artificial Intelligence (AI) is an exciting development that is shaping a new reality for Irish businesses and creating significant new opportunities for innovation across all industries.

“The meeting in May will be an opportunity for both the international AI dimension and the Irish AI ecosystem to be showcased.”
 
Read more:Ireland committed to digitisation of EU economy, says minister - BelfastTelegraph.co.uk  
Posted by EU-Digest at 9:53 PM
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Labels: Artificial Intelligence, Belfas, Benefits, Digitisation EU economy, Economy, EU Commission, Ireland, Pat Breen, SAmall and Medium Companies

Saturday, March 10, 2018

The Netherlands: One in every 10 retail purchases in the Netherlands is now made online

Web shops continue to grow in popularity, ringing up a record €22.5bn in sales in 2017, sector organisation Thuiswinkel reported on Friday morning. One in every 10 retail purchases is now made online,

Thuiswinkel said. Buyers in the Netherlands totted up more than 201 million online purchases last year and the total bill was up 13% on 2016. Holiday sales, centred around Black Friday and Single’s Day, contributed heavily to the total sales.

In 2017, 95% of Dutch consumers aged 15 and older made an online purchase of goods or services, the report revealed. ‘Web shops get a lot of attention during sales and holiday campaigns. That’s how we capture the first buyers for Sinterklaas.

 On the downside, sales in these periods are at lower prices which pressure profit margins,’

Thuiswinkel.org’s Wijnand Jongen said. Jongen expects web shops will create more shop holiday occasions, ‘on Mother’s Day, for example, or around special school events.’ The last three months of the year with its many holidays now account for 33% of all online retail sales,’ he said. Health and beauty

Read more: One in every 10 retail purchases in the Netherlands is now made online - DutchNews.nl
Posted by EU-Digest at 6:47 AM
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Labels: Commerce, EU, On-Line Shopping Increase, Retail, The Netherlands

Friday, March 9, 2018

Trump Tariffa: EU insists on US tariffs exemption - by Eric Maurice

The EU is trying to be exempted from tariffs on steel and aluminum to be imposed by US president Donald Trump and avoid a trade war between close allies.

"Europe is certainly not a threat to American internal security, so we expect to be excluded," EU trade commissioner Cecilia Malmstroem said in Brussels in Friday.

She insisted that "nobody has an interest of escalating this situation."

Malmstroem will meet US trade representative Robert Lighthizer on Saturday, along with Japan's trade minister Hiroshige Seko.

She will argue that EU companies are not state-subsidised nor in overcapacity, and that therefore they are not a source of "unfair trade" with the US.

She will also insist that US tariffs fail to address the main problem on the global steel market: China's overcapacity by state-owned companies.

"We agree on the problems, not on the remedy," said an EU official on Friday, insisting that tariffs are "a prescription for the wrong illness".

"Overcapacities will be on the agenda" of Saturday's meeting, European Commission vice president Jyrki Katainen confirmed. ??He warned however that the dispute will not be solved on Saturday.

"Tomorrow's meeting is a meeting, not the meeting," he said, adding that "most probably the discussion will continue."

He added that the EU was still preparing to impose counter-measures, including tariffs on US products.

"We are hoping we are not forced to use them," he said, but warned that "if the worst case scenario happens, we are ready to take the US to the WTO [World Trade Organization] court."

Read more: EU insists on US tariffs exemption
Posted by EU-Digest at 7:35 PM
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Labels: EU, EU Commission, Exemptions, Trump Tariffs, USA

Thursday, March 8, 2018

EU Bioeconomy 2.0– Cultivating a home grown success – by Joanna Dupont

Barely six years old, the EU’s Bioeconomy Strategy, currently under revision, is slowly but surely propagating green shoots of sustainable economic recovery in innumerable and unexpected ways, writes Joanna Dupont.

Joanna Dupont is the Director of Industrial Biotech and Cross-Sectoral Strategy at EuropaBio.

Plastic packaging for cheese made from milk waste, car tires made from dandelion rubber, bikes made from bamboo, coffee cups made from coffee grounds, car fuel made from wheat straw, T-shirts made from trees: These are just a few of the bio-based products developed in recent years.

And yet, this is just the beginning. The bioeconomy, circular by nature, is not only at the forefront of making valuable products and processes from biomass rather than from fossil carbon. It’s also leading the quest to turn trash into cash and is a future lifeline for many sectors struggling for survival in the face of globalisation and digitalisation.

The rationale for enabling the development of the bioeconomy is as compelling as it ever was: by 2050, the world population is expected to reach nine billion people, which will put unprecedented pressure on the environment and its natural resources.

Coupled with the combined threats of climate change, biodiversity depletion, water and land shortages and increased levels of pollution, new solutions are urgently needed. An innovation-driven bioeconomy, with increased sustainability as its end goal, will provide renewability, circularity and multi-functionality whilst creating jobs, growth and prosperity in rural, coastal and urban areas.

But while unprecedented progress has been made since 2012 in some areas of bio-based research, innovation and investment, not least as a result of the EU’s €3.7 billion Bio-Based Industries Joint Undertaking, a number of factors have put the brakes on driving commercial success of new products and processes.

An abundance of scientific excellence and a conspicuous lack of bio-based scale-ups had become a familiar story in Europe, with many companies heading for more predictable investment environments overseas to commercialise the results of their work, taking jobs and growth with them.

Compounding this is a communications challenge. For many vital influencers of the developing bioeconomy, including consumers themselves, the concept has been difficult to get to grips with. This could be due, in part, to the fact that the bioeconomy is so broad that it means very different things to different people.

This is improving and, increasingly, a burgeoning number of member state and regional bioeconomy initiatives are ensuring that examples of the ‘’backyard bioeconomy’’ are accessible, relatable and tangible for their communities. Then there is the low level of understanding of just how many of our everyday products are currently made with fossil carbon, from soap to shoes, to sofas to smartphones and beyond, which could instead be made from locally grown biomass.

A further challenge, for emerging bio-based industries themselves, is a constant need to reduce costs whilst still operating at small scale, to create new markets and to demonstrate sustainability criteria in a marketplace flooded with fossil-carbon alternatives facing no such hurdles.

But, the very fact that the bioeconomy intrinsically links land and natural resources with production and consumption can, itself, be cause for concern. NGOs have helped to highlight some practices which are of concern, in particular with regard to cultivation practices for certain energy crops.

Indeed, to be truly sustainable the bioeconomy should arguably only use biomass in a smart and efficient way and, ideally, for purposes where no other renewable alternatives are available to tackle the threats and resource shortages that we face.

Differentiation is, however, important and consideration of the options alternatives available, in the context of the demands of a growing population and the other grand challenges we face is essential.

In other words, we must consider these debates in the context of the potential consequences of maintaining ‘business as usual’ and acknowledge that in the dialogue around the development of the bioeconomy there will not always be a perfect solution or agreement on the direction or speed of travel.

But what there should be is a consensus on the need to enable future generations to tackle the challenges that they will face, as highlighted so well by the UN Sustainable Development Goals, and to have sufficient, sustainable, renewable food, feed, fuel, fibre and other materials to meet their needs without compromising the climate, the environment or its ecosystems.

To prepare for the future, a concerted effort is needed to ensure that the solid foundations of research and innovation in the bioeconomy are built upon. But future bio-based innovators must also be afforded the chance to emerge, reach economic self-sufficiency and thrive.

This means creating a predictable coherent, policy environment, to attract the investors waiting in the wings, and market stimulation measures to help bridge the omnipresent commercialisation ‘’valley of death’’. Bioeconomy pioneers are hopeful for an ambitious but achievable revised bioeconomy strategy to ensure that the next six years are even more transformative than the last.

Read more: EU Bioeconomy 2.0– Cultivating a home grown success – EURACTIV.com
Posted by EU-Digest at 7:04 PM
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Labels: Bio-Based Scale-Ups, Bioeconomy, EU, EU Commission, EU Parliament, Strategy, sustainable

Wednesday, March 7, 2018

Tariff Wars: E.U. goes on war footing in response to Trumps declaration "that trade wars are good and easy to win" - by RM

"The reincarnation of US Voodoo Economics"
First a look at the "big picture"  of trade between the EU and the US, which Mr. Trump is now ready to undermine with his recent nonsensical "tariffs" statement.
  • Total US investment in the EU is three times higher than in all of Asia.
  • EU investment in the US is around eight times the amount of EU investment in India and China together.
  • EU and US investments are the real driver of the transatlantic relationship, contributing to growth and jobs on both sides of the Atlantic. It is estimated that a third of the trade across the Atlantic actually consists of intra-company transfers.
  • The transatlantic relationship also defines the shape of the global economy as a whole. Either the EU or the US is the largest trade and investment partner for almost all other countries in the global economy.
  • The EU and the US economies account together for about half the entire world GDP and for nearly a third of world trade flows.
 The EU response to the Trump Tarrifs announcement was swift and surgical .

The European Union’s top trade official mentioned cranberries, orange juice and peanut butter as possible targets Wednesday as the E.U. prepares to strike back if President Trump follows through with tariffs on imports of steel and aluminum.

European officials are also preparing to target $3.5 billion in American goods through a 25 percent "tit-for-tat" levy across consumer, agricultural and steel imports, Bloomberg reported, citing a list compiled by the European Commission.
 

This came after EC President Jean-Claude Junker on Friday mentioned targeted products like Harley-Davidson (HOG) motorcycles, Levi's jeans and bourbon if the U.S. tariffs are implemented. Canada President Justin Trudeau called Mr. Trump Monday evening to register his "serious concer".

"Retaliation against US  by trading partners is likely," Goldman Sachs (GS) economists wrote in a note. "In the past, retaliatory tariffs have focused on the product in dispute (in this case steel and/or aluminum), consumer goods with a particular focus on luxury items and agriculture. We expect a similar pattern this time."

While retaliation is likely to come in  tariff form, "more subtle changes to tax and regulatory policies targeting U.S. companies could also follow," the economists wrote.

Ford (F) and GM (GM) could feel a pinch of about $1 billion each, or 12 percent and 7 percent of each company's respective operating income for 2017, if the 25 percent steel tariff is implemented and prices rise at a similar rate, Goldman Sachs analysts estimated in a recentseparate report.

U.S.-based machinery companies would get squeezed as costs increase. Well-known brands with good distribution, like Deere (DE) and Caterpillar (CAT) might do better than Terex (TEX) and Oshkosh (OSK), Goldman said. Oshkosh is based in House Speaker Paul Ryan's home state of Wisconsin. 

 E.U. Trade Commissioner Cecilia Malmstrom also took aim at Trump’s assertion that U.S. national security justified plans to impose tariffs of 25 percent on steel and 10 percent on aluminum.

The U.S. measures “would mainly impact traditional allies of the United States,” she said.

E.U. officials had previously flagged Kentucky bourbon, Harley-Davidson motorcycles and Levi’s jeans among the products they have in their sights for retaliatory tariffs. A draft of European countermeasures published by Bloomberg News targets $3.5 billion in annual imports from the United States, including $1.1 billion in U.S. steel products, along with clothing, makeup, motorcycles, boats, corn, rice, beans and other agricultural products.

E.U. countries exported $6.2 billion worth of steel to the United States in 2016, according to E.U. figures. The E.U. is the top trading partner of the United States in goods, and it is the top U.S. export market.The European Union’s top trade official mentioned cranberries, orange juice and peanut butter as possible targets Wednesday as the E.U. prepares to strike back if President Trump follows through with tariffs on imports of steel and aluminum.

Note EU-Digest  2017 :  See list below of U.S. trade in goods with European Union
 
Please note that: All figures are in millions of U.S. dollars on a nominal basis, not seasonally adjusted unless otherwise specified. Details may not equal totals due to rounding. Table reflects only those months for which there was trade.

Month Exports Imports Balance
January 2017 21,290.3 32,828.8 -11,538.5
February 2017 22,994.8 32,386.5 -9,391.7
March 2017 25,691.5 36,881.1 -11,189.6
April 2017 22,960.2 35,498.7 -12,538.5
May 2017 23,732.0 36,488.1 -12,756.1
June 2017 23,768.1 36,237.8 -12,469.7
July 2017 21,438.3 34,892.7 -13,454.5
August 2017 23,383.6 35,772.4 -12,388.8
September 2017 24,277.9 35,702.6 -11,424.7
October 2017 25,689.3 39,411.6 -13,722.3
November 2017 23,528.5 38,256.8 -14,728.3
December 2017 24,762.9 40,575.7 -15,812.8
TOTAL 2017 283,517.4 434,933.1 -151,415.6

Given the low average tariffs (under 3%), the key to unlocking this potential lies in the tackling of non-tariff barriers. These consist mainly of customs procedures and behind the border regulatory restrictions
.
The non-tariff barriers come from diverging regulatory systems (standards definitions notably), but also other non-tariff measures, such as those related to certain aspects of security or consumer protection.

The tariffs statement  by President Trump, if he persists to follow through on his threat, could  eventually also turn into a total trade war between the EU and US, and mean the end of the Atlantic Alliance, which has brought stability, peace and prosperity to Europe and the US,  since the end of the second world war. 

It must not be allowed to happen.   

EU-Digest  The above article can be republished only if EU-Digest is referred to as its source
Posted by EU-Digest at 4:19 PM
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Labels: Donald Trump Administration, EU, EU Commission, Trump Tariffs, US, US Economy, Voodoo Economics

Tuesday, March 6, 2018

Turkey - Major International Airport Hub: Turkey sees almost 18 pct rise in air passengers

The number of passengers traveling through Turkish airports surged by 17.6 percent year-on-year in February, according to official data released on Tuesday.

Data from Turkey's General Directorate of State Airports Authority revealed that airports across the country served more than 13 million people last month.

The number of international passengers reached nearly 4.7 million in the month, rising 22 percent from February 2017.

The number of domestic fliers totaled 8.4 million, marking an increase of 15.5 percent during the same period.

According to Tuesday's data, Turkish airports served 129,972 planes, up 6.4 percent compared to the same month last year. Air cargo traffic was also on the rise during the same period.

The total amount of air cargo in February increased 18.5 percent year-on-year to reach 238,485 tons.

Read more: Turkey sees almost 18 pct rise in air passengers

Posted by EU-Digest at 7:13 PM
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Labels: Data, Domestic Flights, International Airports, International Fllghts, Turkey

Monday, March 5, 2018

Italian elections: Eurosceptic Italy in race to form majority government - by Stephanie Kirchgaessner and Daniel Boffey

\

The two populist parties that won major upsets in the Italian election – the Five Star Movement (M5S) and the League (La Liga) – are in a race to be the first to try to form a majority government after the election produced a hung parliament.

The decision will ultimately fall to Italy’s president, Sergio Mattarella, who could take weeks to determine whether the anti-establishment M5S, which took 32.6% of the vote, or a fragile centre-right alliance led by the League’s bombastic Matteo Salvini, with 35.7% of the vote, are better equipped to create a majority government.

As Italy and Europe digested the news on Monday that a majority of Italian voters had supported Eurosceptic candidates in the national election, both sides began jockeying for position, saying each had earned the right to lead. The Italian constitution gives Mattarella the power to give the mandate to any party, regardless of who has won the most votes.

While the former prime minister Silvio Berlusconi had been seen as leading the centre-right coalition, results showed he was beaten by his younger rival on the right, following a campaign in which Salvini emphasised support for radical immigration policies, including mass deportations of immigrants who are in Italy illegally.

Read more: Eurosceptic Italy in race to form majority government | World news | The Guardian
Posted by EU-Digest at 6:12 PM
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Labels: :Berlusconi, Center Right, Disaster, Elections, EU, Italy, Populist

Sunday, March 4, 2018

Germany: Social Democrats sign up to new Merkel-led German government - by Thomas Escritt, Michelle Martin

Germany’s Social Democrats (SPD) decisively backed another coalition with Chancellor Angela Merkel’s conservatives on Sunday, clearing the way for a new government in Europe’s largest economy after months of political uncertainty.

Two thirds of the membership voted“yes” to the deal in a ballot — a wider margin than many had expected. That means Merkel could be sworn in for a fourth term as early as the middle of the month, in a repeat of the grand coalition that has governed since 2013.

Read more: Germany Social Democrats sign up to new Merkel-led German government
Posted by EU-Digest at 3:08 PM
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Labels: CDU, Germany, Grand Coalition, New Government, SPD

Saturday, March 3, 2018

Italy: Elections: Why the Italian elections are no test for the European Union - by Cas Mudde

This Sunday, more than 30 million Italians will go to the polls to elect a new legislature and, indirectly, a government. It will be the first major European election of 2018, after a somewhat confusing and inconsistent pattern of elections in 2017, and the international media is sparing few cliches.

Almost no journalist can resist making references to Italy’s almost inherent “political instability”, referring to the many “political crises” and national elections and governments the country has had in recent history – even though Italy had one government more and held one election less than the (allegedly stable) Netherlands in the 21st century.

In the runup to the 2018 Italian elections, the international coverage is dominated by stories that present the usual Italian tropes in all possible combinations. As always, Italy is “on the brink” of political chaos or worse. Article after article covers topics such as mafia and immigration, the rise of fascism, the risk of political violence, or the threat of populism to Italian democracy and the European Union. Don’t get me wrong, many stories are factually correct, even if they often overstate the relevance of their topic. 

Read more: Why the Italian elections are no test for the European Union | Cas Mudde | Opinion | The Guardian
Posted by EU-Digest at 3:31 PM
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Labels: Conservatives, Economy, Elections, EU, EU Commission, Italian Democracy, Italy, Populists

Friday, March 2, 2018

US Economy: Tax reduction=increased national deficit+tariffs on foreign steel and aluminium = bad economics

President Donald Trump fired the first shot in a delusional and destructive trade war: tariffs of 25% on steel and 10% on aluminum. Shares of US Steel jumped 5.75%, about $460 million in market capitalization, but the overall US stock market capitalization fell by more than 1%, around $340 billion

The trade wars of the early 1930s helped to trigger, then deepen and prolong, the Great Depression.

CNN's Jeffrey Sachs reports: "Trumps actions are based on three primitive fallacies. First, Trump thinks that America runs trade deficits with countries like China and Germany because the US is being swindled by them ".

"The real reason is that the US saves too little and consumes too much, and it pays for this bad habit by borrowing from the rest of the world. The Trump theory of international trade is like a man in deep debt who blames his creditors for his spendthrift behavior".

"Come to think of it, that is precisely how Trump has spent his whole business career: over-borrowing, going bankrupt, and blaming his creditors.

"Second, Trump thinks that trade barriers will protect the US. Nonsense. These measures might temporarily protect US Steel, but not US society. American consumers will lose. US businesses that buy steel will also lose because now they must pay higher prices. American export competitiveness will suffer as production costs rise.

"Third, Trump believes that US trade barriers will crush China and sustain American global economic and military dominance. How pathetic. China and Europe will surely retaliate. American companies will face reduced access to China's fast-growing market. China will shift its own exports to other markets, especially towards fast-growing Asia, as well as towards Africa, Europe, and Latin America"

Within one day, other countries announced their displeasure and in some cases, their intention to retaliate. The European Union Trade Commissioner Cecilia Malmstrom stated that the EU would have no option but to respond. "Imposing sweeping measures like this is generally not the way forward. We risk seeing a dangerous domino effect from this.".

Trump is making these primitive errors because he hasn't a clue as to how the world economy works and how to deliver on his promises to raise US living standards. Raising US living standards requires long-term investments in education, research and development, environmental sustainability, and infrastructure.

But for Trump, it's always gimmicks and lies: tax cuts and increased budget spending that are paid for by rising public debt. Federal budget cuts on science, advanced technology, and environmental safety that leave the US less competitive and highly vulnerable to hurricanes, floods, and forest fires. And reckless trade wars that will harm US competitiveness and trigger global retaliation.

EU-Digest.

Posted by EU-Digest at 4:50 PM
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Labels: Bad Economics, Canada, China, Delusional, Destructive, EU, Primitive Fallacies, Trade wars, Trump Administration, US, US Economy
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