European Union-who, what, and the issues

Re: European Union-who, what, and the issues

Postby CielOnTap on Mon Mar 28, 2011 10:48 pm

Money remains on the mind of EU leaders. If the EU did not exist, how much money would revert back to the EU nations for issues needing funds?

03/25/2011

Breakthrough in Brussels
European Leaders Agree to Euro Rescue Program

By Sven Böll in Brussels

EU leaders achieved a breakthrough in Brussels on Thursday night, reaching a deal on the permanent crisis fund that will come into effect in 2013. Nevertheless, worries that Portugal could soon require emergency aid money loomed large over the talks.

After agreeing to a last-minute change regarding the terms of how Germany would pay money into the new permanent bailout fund for the euro, European Union leaders on Thursday reached a final agreement on the plan that they hope will eliminate speculation over the future of the common currency.


Under the deal, the new European Stability Mechanism will replace the existing euro rescue package starting in 2013 -- and will include a much larger war chest worth €700 billion ($990 billion) in funding. In addition to €620 billion in credit guarantees, the fund will also include €80 billion in capital. As the largest stakeholder in the European Central Bank, Germany is obliged to provide €168.3 billion in credit guarantees as well as €21.7 billion in cash.

Originally, the plan had been for Germany to provide half that cash, around €10 billion in German taxpayer money, by 2013. That, at least, was the deal that had been negotiated between German Finance Minister Wolfgang Schäuble of the conservative Christian Democratic Union (CDU) and his European colleagues. But 2013 is also a federal election year in Germany, and the conservatives -- together with their government coalition partner, the business-friendly Free Democratic Party (FDP) -- would prefer to lower taxes that year rather then transfer money to the euro rescue fund. On Thursday, German Chancellor Angela Merkel (CDU) pushed through a compromise that would see Germany paying into the fund in five equal installments that would begin in 2013 and be spread out over several years rather than in one lump payment.
http://www.spiegel.de/international/europe/0,1518,753145,00.html

Uh oh, Portugal's government did not get support for austerity measures. http://www.spiegel.de/international/europe/0,1518,752857,00.html
80s pop music fan here!
User avatar
CielOnTap
Moderation Team Leader
 
Posts: 10104
Joined: Tue Aug 19, 2008 3:39 pm
Location: Canada

Re: European Union-who, what, and the issues

Postby smitty on Tue Mar 29, 2011 12:44 pm

What can I say about this European Union for there was a bit on the media, but it seemed to die away. Well that was my thinking?

Yet CielOnTap you were keeping up with it all & for some reason or another it was not of any importance to the media especially the TV people WHICH also means the public or onlookers were left to be as dumb as I now feel.
smitty
Super Member
Super Member
 
Posts: 3378
Joined: Fri Nov 14, 2008 2:50 pm
Location: Summerland, B.C. Canada

Re: European Union-who, what, and the issues

Postby CielOnTap on Wed May 04, 2011 2:42 pm

Raf Casert Wed May 4 2011

Borders may return to map of Europe
BRUSSELS - Chipping away at European unity, the EU began to revamp its unique system of unfettered cross-border travel across much of the continent Wednesday, bowing to the stresses generated by a flood of North African immigrants.

The EU Commission proposed to reintroduce temporary national border checks "under very exceptional circumstances" after France and Italy had demanded changes to the so-called Schengen system, which erases many internal European borders for citizens and travellers.

EU Home Affairs Commissioner Cecilia Malmstroem said this could take place when "part of the external border comes under heavy unexpected pressure."

She did not say if that includes the current situation in Italy, which has struggled to cope with more than 25,000 illegal immigrants this year, mostly from Tunisia, which overthrew its dictator in January.http://www.thespec.com/news/world/article/526907--borders-may-return-to-map-of-europe
Rome has pleaded for extra EU help for months, and when little was offered, it simply gave the immigrants travel papers and let them head over to France and other Schengen nations. Most wanted to go to France anyway, for many had relatives in Tunisia's former colonial ruler.

That, of course, enraged the French, who beefed up controls close to Italy's border and sent many immigrants back to Italy. French President Nicolas Sarkozy and Italian Prime Minister Silvio Berlusconi then came up with a compromise to revamp the Schengen system, including the reintroduction of border controls in emergency situations.

"If a European country cannot guard its borders, the question of a provisional suspension of Schengen must be put, without taboo." Sarkozy told L'Express magazine on Wednesday.



Government did not move quickly to help nations overwhelmed with refugee claims. Not that this process was unknown but if government officials had offices near the sites of disembarkation, they could have been more swiftly handled or prevented. But having the turmoil in Libya upset Italy in particular, due to their arrangement of notifying and transporting refugees to Africa.
80s pop music fan here!
User avatar
CielOnTap
Moderation Team Leader
 
Posts: 10104
Joined: Tue Aug 19, 2008 3:39 pm
Location: Canada

Re: European Union-who, what, and the issues

Postby CielOnTap on Wed May 04, 2011 2:53 pm

North Americans need to keep up with some of the EU laws--they are among the strictest for environmental and personal care items. Besides, our Canadian Conservative government has been reported as exploring or moving towards some kind of EU deal like our NAFTA one. If that does not ring alarm bells, what would?
80s pop music fan here!
User avatar
CielOnTap
Moderation Team Leader
 
Posts: 10104
Joined: Tue Aug 19, 2008 3:39 pm
Location: Canada

Re: European Union-who, what, and the issues

Postby CielOnTap on Mon May 09, 2011 7:56 am

Bailouts in the European Union-Portugal gets one and there is talk of Greece either getting a second bailout or possibly exiting the Euro currency group.

$78 Billion for Portugal:
http://www.spiegel.de/international/europe/0,1518,760590,00.html

Have a look at two graphs on the left side of the article.

Another bailout for Greece?
http://www.spiegel.de/international/europe/0,1518,761435,00.html

Billions of Euros--how does the average person understand the numbers except that there may be less services or fewer jobs? Will banks actively improve their own operations or just take the money and do business as usual? Will bank executives be expected to show austerity in their compensation packages also?
80s pop music fan here!
User avatar
CielOnTap
Moderation Team Leader
 
Posts: 10104
Joined: Tue Aug 19, 2008 3:39 pm
Location: Canada

Re: European Union-who, what, and the issues

Postby CielOnTap on Sat Jun 11, 2011 9:18 pm

It seems that the Greeks had created their own fake lake decades before Canadians created a fake last for last year's G20 summit. However, the Greeks still have an agency and employees connected to the lake--which no longer exists.

The tale of the fake lake

The stories of waste in Greece are astounding to the point of comedy. Mr. Manolopoulos writes about Lake Kopais, northwest of Athens. A government agency was set up in the 1950s to drain the lake to make way for a road. The project was finished in 1957. The lake no longer exists, but the agency does. It has 30 employees including a driver, and routinely advertises for new workers.

“No one knows what they do,” the head of the government audit office said last year.

http://www.theglobeandmail.com/news/world/europe/the-roots-of-the-greek-tragedy-bloated-bureaucracy-and-tax-evasion/article2056715/

If the Greeks don't recognize a Greek tragedy, then German Chancellor Angela Merkel is going to tell Greece to live with itself and not with EU bailout money.

Pool owners, time to pay the tax department, the ones outside of the 324 taxpayers that did report their pools. Could be a good time to prove to friends and neighbours that you did pay taxes and claimed your income throughly.
80s pop music fan here!
User avatar
CielOnTap
Moderation Team Leader
 
Posts: 10104
Joined: Tue Aug 19, 2008 3:39 pm
Location: Canada

Re: European Union-who, what, and the issues

Postby fishandchips on Sun Jun 12, 2011 11:27 am

If Greece wants tourists, lots of spanokopita needs selling as does tourism. But tourists don't like reading about protests, riots or burning buildings. So please Greeks, decide you want tourism Euros and get those guests over!
Frozen? Not I. Love hot drinks and ice rinks.
User avatar
fishandchips
Super Member
Super Member
 
Posts: 1378
Joined: Wed Sep 10, 2008 2:06 pm

Re: European Union-who, what, and the issues

Postby CielOnTap on Wed Sep 28, 2011 10:54 pm

Transit workers in Greece are on strike to protest their government's austerity measures that passed yesterday. EU inspectors will be visiting this week to check out the progress.

http://www.nytimes.com/reuters/2011/09/27/world/europe/news-us-eurozone.html?ref=europe

Meanwhile, if you plan to visit Greece, expect to carry your own luggage from the airport.
80s pop music fan here!
User avatar
CielOnTap
Moderation Team Leader
 
Posts: 10104
Joined: Tue Aug 19, 2008 3:39 pm
Location: Canada

Re: European Union-who, what, and the issues

Postby pysanky on Thu Sep 29, 2011 1:15 pm

Is pool tax going to unreported pool owners? Could be some money. Travel in Greece without transit-too much trouble.
Happy New Year-2015 now on scene.
User avatar
pysanky
Senior Member
Senior Member
 
Posts: 390
Joined: Sat Feb 07, 2009 7:13 pm
Location: International food court

Re: European Union-who, what, and the issues

Postby fishandchips on Mon Oct 24, 2011 3:27 pm

Mr. Sarkozy, the French President, is having many meetings about the Euro currency with other European leaders. What's going on?

He's talked to Merkel (Germany), Cameron (UK), and more. He's had another child. Now there are more talks. Greece is still on the meeting agenda--Greek leaders are not at the meetings but the country's ability to repay loans continues to be discussed.

10/24/2011

Rescue Plan Details
Euro Backstop to Be Leveraged to One Trillion Euros

Chancellor Angela Merkel has provided German party heads some details of the planned euro rescue package set for approval by European leaders on Wednesday. They include a Greek debt cut of up to 60 percent and leveraging the bailout fund to one trillion euros. The measures will be put to a full vote in German parliament on Wednesday.
German Chancellor Angela Merkel has told German lawmakers that the financial strength of the euro rescue fund, the European Financial Stability Facility, is to be leveraged to €1 trillion ($1.39 billion), and that a Greek debt cut of up to 60 percent is planned, opposition leaders said on Monday.

The type of leveraging planned remains unclear, with a number of versions being discussed. It emerged earlier on Monday that the controversial measure to increase the firepower of the €440 billion rescue fund will be put to a full vote in the German parliament on Wednesday, rather than just a vote by the budget committee as initially planned.

Given the intense public debate on boosting the EFSF, Merkel's center-right coalition decided to seek a broader mandate than just budget committee approval. http://www.spiegel.de/international/europe/0,1518,793719,00.html

In the US, trillion is 1, 000,000,000,000 (12 zeroes) but in the UK, trillion is 1, 000,000,000,000,000,000 (18 zeroes). Which definition applies to trillion in this case?

http://www.spiegel.de/international/europe/0,1518,793574,00.html 6 Days of Meetings for the summit

Even Italy, in other reports, is having to consider budget cutbacks because the financial picture is not looking too good in that country.
Frozen? Not I. Love hot drinks and ice rinks.
User avatar
fishandchips
Super Member
Super Member
 
Posts: 1378
Joined: Wed Sep 10, 2008 2:06 pm

PreviousNext

Return to Politics

Who is online

Users browsing this forum: No registered users and 22 guests

cron