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Showing posts with label EU Parliament.. Show all posts
Showing posts with label EU Parliament.. Show all posts

Thursday, December 7, 2017

Europe – A World-Class Place To Live And Work? -by Juan Menéndez-Valdés

A world-class place to live and work.’ That is how President Juncker described Europe at the summit to formally proclaim the EU Pillar of Social Rights in Gothenburg last month.

And he added: ‘Europe is more than just a single market, more than money … It is about our values and the way we want to live’.

So how do we live? Do the 510 million Europeans across the current 28 Member States really feel that their living conditions are ‘world-class’?

Certainly, many do. But many others still face inequalities and feel excluded or insecure, worry about access to decent housing and jobs and wonder about the future for themselves and their children. This is reflected in growing populist sentiment that seems to reject the Establishment, making the general narrative on Europe appear largely negative.

But, as always, the reality is significantly more complex.

In fact, the last few years have been generally good and the ‘wind is (indeed) back in Europe’s sails’.

The results from the most recent European Quality of Life Survey show overall progress in the areas of quality of life, quality of society and quality of public services. We have seen improvements for many, although from low points following the economic crisis. Indeed, in some cases, the indicators finally display a return to pre-crisis levels – reflecting, in part, the general economic upturn and return to growth across the Member States.

Levels of optimism have risen, and life satisfaction and happiness ratings have remained generally high in most EU countries. Satisfaction with living standards has increased in a majority of Member States and more people can now make ends meet than was the case in 2011.

Trust in national institutions has actually increased across the board and young people in particular show greater trust in other people. The welcome growth in engagement and participation in social and community organisations across Member States and the decline in feelings of social exclusion, which were more prevalent in the downturn, are also signs of a more positive post-crisis environment.

Indeed, perceived tensions in society between poor and rich people, management and workers, old and young persons and men and women, have all declined during the last five years.

Older people indeed fare less well than their younger counterparts, particularly in some central and eastern European countries, and age clearly contributes to decreasing life satisfaction in Bulgaria, Croatia, Malta, Poland, Portugal, Romania and Slovenia. In two-thirds of the EU Member States, more than half of respondents also have concerns about their levels of income in old age.

In fact, despite growth that has seen fewer people reporting material hardship compared to five years ago, over half of the population in 11 Member States still say they have difficulties making ends meet.

This is marginally down on the 13 Member States where the majority of people expressed difficulties making ends meet in 2011 , but still more than 2007 levels. As always, the poor suffer most, and the results show that quality of life has improved less for those in lower income groups.

Read the complete report: Europe – A World-Class Place To Live And Work?

Monday, July 31, 2017

Eurozone unemployment hits lowest level in eight years

Europe's financial recovery continued at a steady pace amid a number of uncertainties in the market. The official eurozone figures were better than estimates of 9.2 percent from data company Factset.

Unemployment in the eurozone fell to 9.1 percent in June, its lowest figure since February 2009, according to official data from Eurostat, the statistical office of the bloc.

The jobless rate in the 19-state single currency market was better than expected by financial analysts. The numbers came a week after the International Monetary Fund (IMF) said the eurozone was strengthening, but warned of instability around Brexit and low inflation rates.

Read more: Eurozone unemployment hits lowest level in eight years | Business | DW | 31.07.2017

Friday, January 27, 2017

EU-US Relations: Eurozone closes ranks after US attacks on the euro

Eurozone finance ministers closed ranks to defend the euro after the man tipped to be the US ambassador to the EU, Ted Malloch, said the currency “could collapse” within 18 months. 
 

Friday, December 23, 2016

Money Laundering: EU tables new rules to counter money laundering- by Irene Kostaki

The European Commission on December 21 proposed the tightening of controls on cash and precious metals that are transferred to the bloc from non-EU countries.

The proposal is part of the EU’s action plan to cut financing to Islamic State. It comes after the December 19 attack in Berlin in which 12 people were killed when a truck ploughed into a crowd at a busy Christmas market.

Under the new proposals, customs officials in EU member states will be given the powers of checking freight payments via cards and prepaid/debit cards.

This means that anyone carrying more than €10,000 in cash will be required to declare this at customs when entering the EU.

EU officials also said some of the recent attacks in Europe were carried out with limited funds, sometimes sent from outside the EU. These amounts probably originated from criminal activities, such as drug dealing, according to Vera Jourova, the EU Commissioner for Justice.

She presented the Commission’s proposal on freezing terrorists’ financial resources and on confiscating assets – even from those who are only suspected of being connected to criminals.

“There are a lot of new ways of transferring money and not all of those are covered in the EU-US scheme,” Julian King, the Commissioner for the Security Union, told a news conference in Brussels. He also said the Commission will study the impact of a possible EU programme and “report back by next summer”.

Read more: EU tables new rules to counter money laundering

Thursday, December 22, 2016

Italian Economy: Italy moves to rescue its banks

On Wednesday, Italy's two houses of parliament approved a government request to increase the public debt by up to 20 billion euros (20.8 billion dollars) to fund a rescue package for ailing banks. It will likely begin by recapitalizing Monte dei Paschi di Siena.

MPS, founded in 1472 and considered the world's oldest lender, is struggling to complete a 5-billion-euro recapitalization by year's end, as required by the European Central Bank after recent stress tests showed it was grossly undercapitalized in view of a heavy burden of billions of euros in uncollectable debts on its books.

MPS was set to announce on Thursday its failure to find sufficient private investment money to bolster its capital base. In the night before Thursday, MPS announced it had been able to collect less than 2.5 billion euros through debt-equity swaps, and that no major investor had responded to its recapitalization bid, which started Monday and was due to close at 2 pm Thursday.

A resolution in the lower Chamber of Deputies, which was in favour of the government's plan, was approved in a 389-134 vote. There were 8 abstentions. A few minutes later, the Senate also gave its go-ahead in a 221-60 vote, with 3 abstentions.

The 20-billion-euro sum "is sufficient" to solve the problems of an Italian banking sector that "is solid, healthy, but with some well-known critical cases with specific characteristics for each," Minister for the Economy and Finanaces, Pier Carlo Padoan, told the Chamber of Deputies.

The money will fund a "precautionary" safety net, and could be used to inject capital into lenders needing to increase their capital buffers, or to reimburse retail savers caught up in the new European Union 'bail-in' rules. Those rules are meant to ensure that private investors - including retail clients - will bear most of the costs of bank bailouts, rather than taxpayers bearing the cost as was the case in the wake of the banking crises that occurred in the wake of the 2008 financial system meltdown.

Read more: Italy moves to rescue its banks | Business | DW.COM | 21.12.2016

Thursday, December 15, 2016

The Brexit Fallout - EU leaders sing from same Brexit hymn sheet - hy Katya Adler

The EU Commission has announced a settlement imposing significant fines on Sanyo, Sony and Panasonic for breaching competition law. The fines relate to anti-competitive behaviour between 2004 and 2007 surrounding the distribution of rechargeable lithium-ion batteries. These batteries power most mobile phones, laptops and tablets.

Anti-competitive behaviour

The Commission investigation showed that the companies had been involved in discussions to avoid aggressive competition in the market for lithium-ion batteries. These discussions occurred mainly in Asia but sometimes in Europe. Even if discussions had taken place solely in Asia, the Commission could still have found them to be in breach of competition law if the behaviour was likely to cause a distortion to the European marketplace.

The cartel agreed on temporary price increases in 2004 and 2007 following increases in the price of a cobalt and exchanged commercially sensitive information concerning price, supply and demand forecasts, along with intentions to tender for particular contracts.

Settlement and fines

In determining the fines the Commission took into account the companies’ sales of lithium-ion batteries in the European Economic Area (EEA), the nature of the infringement, its geographic scope and duration but also the level of co-operation displayed by the firm with their investigation. Settlement alone resulted in a 10% reduction in each firm’s fine, while co-operation garnered reductions of between 20% – 50%.

Another manufacturer was given immunity for blowing the whistle on the arrangement. Regular readers of the blog will know that early and complete co-operation with a Commission investigation is generally recommended course of action and that whistle blowers always benefit.

In the end, Sony was fined €29,802,000, Panasonic €38,890,000 and Sanyo €97,149,000.

Follow on claims

As with all Commission findings of anti-competitive behaviour, it is held to be “self-proving” evidence that the behaviour took place and was illegal. Thus, if a person or business has suffered loss on account of the behaviour, they can raise a claim in their national court seeking a remedy. New rules are coming into force from 27 December 2016 that will make it easier for consumers and small businesses to pursue these claims.


Read more: EU leaders sing from same Brexit hymn sheet - BBC News

Tuesday, December 13, 2016

THE TRUMP DOCTRINE: Alliance Between Russia - US? As Tillerson - Putin′s friend becomes Trump′s Secretary of State

He's not even on the job yet, and Rex Tillerson is already facing a stiff headwind: The 64-year-old has no government experience; as the CEO of Exxon Mobil Corporation he cut business deals with autocrats, even allowing them to pin medals on his chest. Florida Republican Senator Marco Rubio tweeted that he doesn't want a friend of Putin's in the State Department. Senator John McCain of Arizona, also a Republican, criticized Tillerson's close ties to the Kremlin as well. New Jersey Democratic Senator Bob Menendez called the decision "absurd." Others will join the chorus of critics. None of this bodes well for the Senate confirmation hearing that the future secretary of state will face. Majority approval seems anything but certain.

Nevertheless, Donald Trump has chosen him, and thus chosen to pick yet another fight with his own party. Why?

Both men see foreign policy as a business endeavor. And, to a certain degree it is - especially in the USA. But it is also something more. What about areas in which the USA has nothing to gain financially; for instance, when it comes to defending human rights? Those who are engaged in defending human dignity around the globe generally don't make a lot of friends - especially among dictators. For decades, American secretaries of state have done just that alongside their colleagues in Western Europe. And they have been successful if one considers the growing number of democracies throughout the world.

Note EU-Digest: the EU better start preparing a plan B in case the US cuts off their umbilical cord with the US, on which they have come to rely so heavily.

Read more: Opinion: Rex Tillerson - Putin′s friend and Trump′s secretary of state | Opinion | DW.COM | 13.12.2016

Thursday, November 24, 2016

EU Healthcare: Bad health: EU buries billions with 550,000 premature deaths due to chronic disease

A joint OECD/European Commission report says chronic diseases and premature deaths cost the EU billions every year. It calls for better prevention policies and improved health care. So what else is new?

Health reports seldom say anything new. There's the obligatory risk factors - smoking, alcohol and obesity - and an equally standard call for better prevention policies and improved healthcare systems. Let's face it: We could all live a bit more healthily.

Such is the mainline in "Health at a Glance: Europe 2016," a joint report launched Wednesday (23.11.2016) by the OECD and the European Commission in Brussels.

But what's striking about this report is the human cost of Europe's failing health.

The report estimates that about 550,065 people of working-age (25-64 years) in the European Union die prematurely from chronic diseases. It could be a heart attack, stroke, diabetes, or a form of cancer. And their dying early, says the report, costs the EU 115 billion euros annually.

Note EU-Digest: another issue not discussed in this report, which certainly must be seen as a part of the problem, is that in some countries, like the Netherlands, where insurance programs have been  privatized and the insurance premium costs have continuously been on the rise for the consumer, people have not been going to the Dr. or hospital for preventive care, mainly because of personal economic reasons.

For the complete report Read more: Bad health: EU buries billions with 550,000 premature deaths due to chronic disease | Science | DW.COM | 23.11.2016

Saturday, November 12, 2016

USA: Trump-Led Thaw Between Russia, US to Undermine EU Unanimity Over Sanctions

United States President-elect Donald Trump said he would consider the possibility of lifting anti-Russian sanctions, but provided no further details.

 At the same time, Morgan Stanley estimated a 35 percent chance of Washington lifting sanctions against Moscow in the coming two years.

According to the bank, Trump’s presidency will result in easing sanctions against Russian companies and individuals. Meanwhile, the European Union is now concerned over a possible thaw between Russia and the US because this will create obstacles for Brussels’ policy of sanctions.

During his campaign, Trump repeatedly said he wanted to normalize ties with Russia. After the election, he confirmed he wants a "good relationship" with Moscow. Russian markets reacted to Trump’s victory more positively than other global stocks, on expectations of an improvement in bilateral economic ties between Russia and the US.

Read more: Sputnik

Thursday, July 7, 2016

Cancer Linked Herbicides: Private Tests Show Cancer-Linked Herbicide in Breakfast Foods; FDA mum on Its Assessments - by Carey Gillam

If you started your day off with a whole wheat bagel and a bowl of instant strawberries-and-cream-flavored oatmeal today, you might think you made some fairly healthy breakfast choices.

You might want to think again.

According to a report released Tuesday by the Alliance for Natural Health USA, testing procured from an independent laboratory found detectable levels of the herbicide glyphosate in oatmeal and bagels as well as coffee creamer and seven more products, for a total of 10 out of 24 breakfast food items showing levels of glyphosate - a chemical the World Health Organization’s cancer experts have linked to cancer.

Notably, some of the highest levels of the chemical were detected in organic food products, including eggs marketed as “organic, cage-free, antibiotic-free” eggs; and in organic bagels and bread. Indeed, the organic cage-free eggs contained more glyphosate than regulators allow, the group said.

The group also tested flour, corn flakes, instant oatmeal, yogurt, frozen hash browns, and coffee creamers.

The laboratory that conducted the tests was Microbe Inotech Laboratories in St. Louis. Microbe, founded by former Monsanto Co. scientist Bruce Hemming, has been sought out by an array of food companies, consumer groups and others to conduct glyphosate residue testing over the last few years.

Read more: Private Tests Show Cancer-Linked Herbicide in Breakfast Foods; FDA mum on Its Assessments