Spotlight on Geopolitics

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Slowly but surely, the set of remedies employed in the hope of solving the euro crisis is now spreading recession from the periphery to the core of the eurozone. Austerity measures, accompanied by an increase in taxes, will bring France’s economic growth to a halt next year. Germany’s growth rate, based on its solid export… » read more

The eurozone’s unemployment rate has reached 10.7 percent in January, meaning 16.9 million people out of work, of which 5.5 million young people under 25. If we add to these figures the 2.7 million people unemployed in the UK as well as another few million jobless in the other EU member-states, we can understand why the… » read more

Amid international media acclaim, the European Council on Foreign Relations has recently released the results of its innovative EU foreign policy research project, the 2012 European Foreign Policy Scorecard. The ECFR’s researchers have assessed the EU’s foreign policy performance in 2011 in six major areas: the relationship with China, Russia, the US, Wider Europe (Western… » read more

We’re heading towards a Soviet-style union run by a Politburo made up of national political leaders uninterested in consulting the European Parliament on important decisions affecting our lives. Whilst in Brussels where the EU heads of government were busily hammering out  measures aimed at solving the euro-crisis, Martin Schulz held his first speech as President of the European Parliament.… » read more

Towards a two-union Europe ?

Standard & Poor’s decision this week to downgrade the country ratings of France, Italy, Spain and Portugal, not only aggravates the sovereign debt crisis, but it actually divides the EU in two. The most affected group is made up of the Latin countries bordering the Mediterranean. Their interest bills are going to rise to levels… » read more

Before the G20 meeting in Cannes, the unthinkable happened. To the utter surprise of EU and G20 leaders alike, Greek prime minister George Papandreou dropped the bombshell announcement about the referendum on the bailout package. Stock prices plummeted, the G20 agenda was undermined, and the leaders who had been working to save Greece from default… » read more

Two-speed Europe

The decisions agreed upon by EU leaders during the 26th of October summit – the leveraging of EFSP, the “voluntary” 50 percent reduction of Greece’s debt, improved coordination of fiscal policies within the eurozone countries, the appointment of a super-commissioner with fiscal oversight responsibilities – have all been judged as steps in the right direction… » read more

According to the laws of aerodynamics, the honey bee is too heavy and its wing shape cannot support it in the air. This, nevertheless, does not prevent it from flying and tirelessly collecting pollen every day, which is the essential raw ingredient in the production of honey. The sovereign debt crisis has provided fodder to… » read more

Is the eurozone shrinking ?

  Over the next few days, EU political leaders have to decide what to do about the Greek debt crisis. Leading economists and quite a number of EU politicians are deeply divided when it comes to putting together another large financial rescue package. Economists like Professor Hans-Werner Sinn and Professor Kenneth Rogoff argue for a shrinking of… » read more