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Budget 2014-2020: Don't sacrifice EU's future to the current crisis, say MEPs

EU member states must not use the economic crisis as a pretext to force austerity upon the EU until 2020, MEPs warned in a debate on Wednesday. The EU needs a budget that is flexible enough to cope with unforeseen events and is funded from new sources, they added. The debate with Commission President José Manuel Barroso and Ireland's EU Presidency Minister Lucinda Creighton was Parliament's final input to the 7-8 February EU budget summit.

Handelsbanken - A brand new type of Bank has sprung up in the UK

A bank, new to Britain, is expanding rapidly across the UK.  Its name is Handelsbanken and it is from Sweden. However, it is about to open its 150th branch in the UK.

Decision Making

The world hasn't learned anything since The Kreuger Crash

The reason no one wanted to lend to or trade with the banks during the fall of 2008, when Lehman Brothers collapsed, was that no one could understand the banks’ risks. It was impossible to tell, from looking at a particular bank’s disclosures, whether it might suddenly implode.

Growth and renewal in the Swedish economy

The 2012 McKinsey Global Institute report Growth and renewal in the Swedish economy shows that the nation can’t afford to coast on its achievements. Sweden’s economic growth mainly reflects productivity gains in the areas most exposed to international competition: manufacturing and business and financial services, which together account for only about one-third of the nation’s economy. In its two other main components—the public sector and local services—economic growth has been much slower, at a pace comparable to that of the rest of the EU-15.

Haldane giving evidence at the Parliamentary Commission on Banking Standards

Haldane: No change is not an option. Fully 70% or 80% of the IT spend of the big banks currently is about the maintenance of legacy (antiquated) systems...

Drupal 6 Views 2 custom handler for a dynamic select list

The current Drupal project has a network directory, that uses manual entries of data. During a multiple-step migration we have a temporary system where we instead synchronise data from a separate system (ColdFusion and a combination of SQL server and Oracle).

Tomorrow, summer is over in Euroland

If anyone of you thought this Summer was quieter than last year, then it's not due to less hazards for the EU leaders, it's rather that they are more skilled than last year in the profession as holidaymakers. We could for instance see Pedro Passos Coelho swim in Algarve relatively anonymously, but he was eventually caught up by some road toll protestors.

United States of Europe is coming, or is it an imagination?

What has been the driving force for change in Europe since WW2?  It has not been a straight line of thought, vision or strategy to build up what we have today, obviously. There is a huge democratic deficit. We have been forced, step by step, into today's bizarre status. Europe is a political union run by an “unelected” elite, unelected in the sense that we have not elected them to represent us in Europe. Elected through a closed college like system, in a sort of a way they represent their home country if they represent anything. At least that is the way it is perceived.

Eurogroup statement on Spain - bailout


The Eurogroup supports the efforts of the Spanish authorities to resolutely address the restructuring of its financial sector and it welcomes their intention to seek financial assistance from euro area Member States to this effect.

Bigger euro bailout fund needed to create space to boost growth, OECD says

Euro area finance ministers meeting this week need to boost the firepower of the European stability funds to at least one trillion euros, OECD Secretary-General Angel Gurría said today.

The current level of commitment to the rescue funds is not enough to restore market confidence, he said. A credible financial firewall will provide governments with the breathing space they need to focus crucially on revitalising Europe’s economic growth and competitiveness.

Make your own bank stress test



Over recent months, there have been tentative signs of economic stabilisation but financial market tensions continue to dampen economic activity and uncertainty remains high. Governments are undertaking strong efforts to correct budgetary imbalances on a sustainable basis but further efforts are needed to promote growth and employment. There are no quick fixes. Our action must be determined, persistent and broad-based. We must do more to get Europe out of the crisis.

Basel III liquidity standard and strategy for assessing implementation of standards

The GHOS endorsed the Committee's comprehensive approach to monitoring and reviewing implementation of the Basel regulatory framework. GHOS Chairman and Governor of the Bank of England Mervyn King noted that "the focus on implementation represents a significant new direction for the Basel Committee. The level of scrutiny and transparency applied to the manner in which countries implement the rules the Committee has developed and agreed will help ensure full, timely and consistent implementation of the international minimum requirements".

European Disunion indecision 2011

Inside the French ambassador's 19-bedroom mansion, finance ministers and central bankers from the world's largest economies heard Dominique Strauss-Kahn, then-head of the International Monetary Fund, deliver an ultimatum. Greece, the country that triggered the euro-zone debt crisis, would need a much bigger bailout than planned, Mr. Strauss-Kahn said. Unless Europe coughed up extra cash, the IMF, which a year earlier had agreed to share the burden with European countries, wouldn't release any more aid for Athens.


9 December 3 AM: Statement by euro area heads of state or government

The European Union and the euro area have done much over the past 18 months to improve economic governance and adopt new measures in response to the sovereign debt crisis. However, market tensions in the euro area have increased, and we need to step up our efforts to address the current challenges. Today we agreed to move towards a stronger economic union. This implies action in two directions:

- a new fiscal compact and strengthened economic policy coordination;

- the development of our stabilisation tools to face short term challenges.

European Commission Green Paper on the feasibility of introducing Stability Bonds - Official Version

Brussels, 23 November 2011

European Commission Green Paper on the feasibility of introducing Stability Bonds

Will Merkel Change Her Tune on Stability Bonds?

Stability bonds. That is the new moniker given by the European Commission to euro bonds as it moves toward presenting its most definitive proposal yet for the debt pooling measure on Wednesday.

Indeed, European Economic and Monetary Affairs Commission Olli Rehn was in Berlin on Tuesday to tout Brussels' three-option studyon how bonds issued jointly by the 17 euro-zone member states could help stem the debt crisis.

Niall Ferguson on United States of Europe 2021

Niall Ferguson, Professor of History at Harvard University, has written a tendentious new book, “Civilization,” which asserts, with similar certainty, that we are now living through “the end of 500 years of Western predominance,” that while China is on the rise, the question is not whether East and West will clash, but whether “the weaker” — that is, the United States and Europe — “will tip over from weakness to outright collapse.”

What price the new democracy? Goldman Sachs conquers Europe

This is the most remarkable thing of all: a giant leap forward for, or perhaps even the successful culmination of, the Goldman Sachs Project.

Read the article here: http://www.independent.co.uk/news/business/analysis-and-features/what-pr...

Cutting Eurostat to Pieces

The present writer took up his Eurostat post in March 1991, right after Desert Shield. He was told then that Eurostat "had no right" to publish economic analyses and those instructions were repeated from time to time ever since. No Eurostat publication that he has seen contained any fruits of the officially forbidden research.

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