Article | May 16, 2012 - 3:05pm
The European Commission authorised requests from Cyprus, Estonia and Lithuania for a continued free allocation of EU Emissions Trading System (EU ETS) allowances to their power sectors beyond this year
The European Commission authorised requests from Cyprus, Estonia and Lithuania for a continued free allocation of EU Emissions Trading System (EU ETS) allowances to their power sectors beyond this year. The Commission has taken these decisions under provisions which allow certain Member States exemptions from the general rule that, from 2013 onwards, the power sector must buy all its allowances at auctions or in the market.
Article | May 14, 2012 - 1:00pm
EU could impose sanctions on Ukraine after the maltreatment of the imprisoned former Prime Minister Yulia Tymoshenko had reached the scales of torture. Swedish Foreign Minister and one of the influencers in European diplomatic circles, Carl Bildt, said before the Council of the EU heads of foreign affairs that he could not rule out sanction as a way to send a clear message to Ukraine that persecution of political opponents cannot be tolerated.
Article | May 10, 2012 - 10:46am
On 9 May, Europe Day, Cyprus celebrated it in a truly European way. Due to begin the Presidency of the Council of the EU, Cypriot Deputy Minister for EU Affairs Andreas Mavroyiannis headed the unveiling of the country's logo for the presidency. It was a ship "whose hull doubles as a dove, with colourful sail, heading to the heart of Europe".
Mavroyiannis said the logo “brings to mind the island character of Cyprus with its long maritime tradition and the fact that our country today has the third largest fleet in the EU”.
Article | May 9, 2012 - 10:00am
The ideas behind the European Union were put forward on 9 May 1950 by the French foreign minister, Robert Schuman. This date is now celebrated as a key moment in the creation of the EU.
Europe Day, as it is known, is the anniversary of the Schuman declaration. Speaking in Paris in 1950, then French foreign minister Robert Schuman proposed a new form of political co-operation for Europe, which would make war between Europe’s nations unthinkable.
Article | May 6, 2012 - 10:48pm
To put their public finances back in order and to restore public finances to health, after the strong budgetary deterioration following the eruption of the credit crisis, the European countries need to reinforce their economic growth potential and, in many cases, budget deficits need to be forcefully curbed to below 3% of GDP.
To put their public finances back in order and to restore public finances to health, after the strong budgetary deterioration following the eruption of the credit crisis, the European countries need to reinforce their economic growth potential and, in many cases, budget deficits need to be forcefully curbed to below 3% of GDP. Doing so often requires a combination of spending cuts and tax increases. In addition, countries need to reinforce their economic growth potential, said Dutch Central Bank ‘De Nederlandsche Bank (DNB) in its analysis published on May 1, 2012.
Article | April 29, 2012 - 9:05pm
Turkey’s Economic Minister Zafer Caglayan recently criticised European leaders for their failure to resolve the eurozone sovereign debt crisis, saying their failure has yield negative repercussions on Ankara’s growth, news agencies reported.
Turkey’s Economic Minister Zafer Caglayan recently criticised European leaders for their failure to resolve the eurozone sovereign debt crisis, saying their failure has yield negative repercussions on Ankara’s growth, news agencies reported.
The Turkish minister said in Washington that Europe is obviously in deep trouble economically and two leaders in Europe, the German Chancellor Angela Merkel and French President Nicolas Sarkozy, did not show much resistance.
Article | April 27, 2012 - 4:56pm
Romanian Prime Minister Razvan Ungureanu’s government collapsed on 27 April after a successfully carried out no-confidence vote demanded by the opposition.
236 lawmakers voted in favour of the opposition’s proposal following the government's decision to sell the country’s largest copper company and energy firms to foreign investors and departure of six deputies from the ruling majority.
Article | April 25, 2012 - 10:34pm
China's Prime Minister Wen Jiabao and a business mission arrived in Poland on April 25 for a two-day official visit. It is the first official visit by a Chinese premier to the central European country in more than 20 years.
The visit aimed at reinforcing bilateral ties with Poland and focuses on increasing regional trade ties.
Article | April 25, 2012 - 4:33pm
The President of the European Council, Herman van Rompuy, was on a one-day visit to Romania and Bulgaria.
The President of the European Council, Herman van Rompuy, was on a one-day visit to Romania and Bulgaria.
Article | April 24, 2012 - 10:47pm
Chinese President Hu Jintao met with North Korea's Workers' Party international relations chief, Kim Yong-il, at the Great Hall of the People in the heart of Beijing.
During their meeting Hu Jintao reiterated his government's desire to maintain and further develop strong relations with North Korea and sent his congratulations to North Korea's young new leader Kim Jong-un on his assuming the title of Workers' Party first secretary.
Article | April 24, 2012 - 5:10pm
Article | April 23, 2012 - 11:19am
Party leaders of the tripartite governing coalitions have agreed on 22 April to finish their cooperation and seek to restructure the government. Czech Prime Minister, Petr Nečas, announced that the current government should be dissolved on 27 April, but he anticipated that a new political group will be formed by then to replace a junior coalition partner Public Affairs party.
Article | April 19, 2012 - 1:19pm
The 43 countries of the Open Government Partenrship will announce in Brasilia their action plans to make their governments more open, transparent and accountable.
After a review of 35 of these plans, the OGP realized that they have almost ten commitments in common.
Article | April 17, 2012 - 3:04pm
Former French president, Jacques Chirac, will vote for Socialist candidate Francois Hollande in the first round of presidential elections, according to sources close to Chirac.
Chirac has openly criticised his UMP party colleague and incumbent, Nicolas Sarkozy, on several occasions, most obviously in his memoirs. Chirac even insinuated in a joke last summer that he would vote for Hollande, which sparked outrage amongst his political associates.
Article | April 15, 2012 - 7:20pm
On 10 April, Russia’s outgoing President Dmitry Medvedev said his country should carry out in full its plan to sell stakes in state-owned companies.
On 10 April, Russia’s outgoing President Dmitry Medvedev said his country should carry out in full its plan to sell stakes in state-owned companies. "The government should gather its courage and fully carry out its privatisation plan," Medvedev told a meeting of government experts. "If the government doesn't do that, it means that there will be no privatisation."
Article | April 15, 2012 - 7:52pm
Cyprus is working intensively for the promotion of certain decisions taken by the international organisation, making clear that it will not accept a violation of this process and requesting at the same time that the efforts for the solution of the Cyprus problem move forward in the framework of the agreed process that has been clarified and agreed before the start of the negotiations, said Government spokesman Stefanos Stefanou in statements to the press at the Presidential Palace on 10 April.
Cyprus is working intensively for the promotion of certain decisions taken by the international organisation, making clear that it will not accept a violation of this process and requesting at the same time that the efforts for the solution of the Cyprus problem move forward in the framework of the agreed process that has been clarified and agreed before the start of the negotiations, said Government spokesman Stefanos Stefanou in statements to the press at the Presidential Palace on 10 April.
Blog entry | April 8, 2012 - 9:50pm
Dr Wolfgang Schäuble, the German Federal Minister of Finance last week came up with a completely watered down proposal for the much advertised European tax on financial transactions: The famous 'Tobin tax'.
Article | April 8, 2012 - 9:19pm
According to figures released by Statistics Netherlands on March 30, Dutch government deficit amounted to 4.7% of gross domestic product (GDP) in 2011. In 2010 the deficit was 5.1% of GDP. Government debt rose further to 65.2% of GDP. These figures mean that the Netherlands has now exceeded the European norms for deficit and debt for the third year in a row. Government revenues rose by only very little, 0.8%, while spending was 0.2% higher than in 2010. As a result, the deficit fell slightly and came to €28 billion in 2011.
Article | April 8, 2012 - 8:02pm
Former Russian Finance Minister Alexei Kudrin has announced that he is setting up the Civil Initiative Committee with the aim to “openly oppose” the authorities. He noted, however, that he doesn’t plan to return to government “in the nearest future”.
Former Russian Finance Minister Alexei Kudrin has announced that he is setting up the Civil Initiative Committee with the aim to “openly oppose” the authorities. He noted, however, that he doesn’t plan to return to government “in the nearest future”.
Article | April 8, 2012 - 9:43pm
The lefts continue to gain ground in France. A new poll by the BVA Institute last week showed the far left candidate -- as he is popularly dubbed -- Jean-Luc Melenchon would snug up the political arena bagging a decisive amount of votes.
The lefts continue to gain ground in France. A new poll by the BVA Institute last week showed the far left candidate -- as he is popularly dubbed -- Jean-Luc Melenchon would snug up the political arena bagging a decisive amount of votes. The poll estimated Melenchon would win 14% of a first round vote, just a step behind rival Marine Le Pen. According to pollsters, Melenchon’s stand on issues linked to socio-economic imbalance like unemployment and jobs are making him popular among the ailing French households.
Article | April 8, 2012 - 8:28pm
Visiting Turkey's Deputy Undersecretary of State in charge of Foreign Trade, Ugul Ecevit met with Mahmoud Eissa, Egypt's Minister of Industry and Foreign Trade in Cairo.
Visiting Turkey's Deputy Undersecretary of State in charge of Foreign Trade, Ugul Ecevit met with Mahmoud Eissa, Egypt's Minister of Industry and Foreign Trade in Cairo. After the meeting, Eissa citing Egypt's State Information Service said that Turkish firms are ready to invest over $1bn into projects in Egypt during the next few years, Zaman reported. To entice further investments from Turkey, Eissa mentioned the importance of a quick launch of the planned shipping trade route between the port of Alexandria and the Turkish city of Mersin.
Article | April 4, 2012 - 10:02am
The Cour de cassation in France issued a decision on retirement homes and social security contributions that highlights the problems of political interference in the judiciary.
The issue of dependence of the third generation is a real concern in France as well as in the majority of the members of the European Union. However, the difference with France and many of these EU states is that it is in the midst of presidential elections. And, if we are to take the candidates on their word, they are very well aware of the social economic problem facing France now, as well for the very near future.
Article | April 2, 2012 - 11:19am
It is often pointed out that the effects of laws to a high degree depend on those who enforce them; from police and public prosecutors to judges. However, the recent case of Trayvon Martin caused quite a stir in the US which may have overlooked an important issue.
It is often pointed out that the effects of laws to a high degree depend on those who enforce them; from police and public prosecutors to judges. The recent case of a young African-American teenager, Trayvon Martin, who was killed by a neighbourhood watchman in Florida in late February sparked a loud debate in the US, but probably focussed on the wrong issue.
Article | April 2, 2012 - 2:16pm
Dr Wolfgang Schäuble, the German Federal Minister of Finance last week came up with a completely watered down proposal for the much advertised European tax on financial transactions.
The initial proposal was drafted by the European Commission and followed the broad lines of a 'Tobin tax' principle. It was aired in September 2011 and provided for a levy on all transactions on financial products including bonds and derivatives (0.01%) and stocks (0.1%).
Article | March 31, 2012 - 5:01am
Newt Gingrich lost his biggest financial supporter this week when billionaire casino mogul Sheldon Adelson, appeared to be losing hope in his electoral prospects.
According to the Los Angeles Times, the billionaire has pumped a significant amount of money into the Gingrich campaign - $16.5 million through the Winning Our Future super PAC.