Since the beginning of the crisis unemployment has risen from 7 to 10 pc and figures are expected to rise even further as some European countries plunge back into recession. What can Europe do to tackle unemployment and boost its productivity vis a vis the rest of the world?
Joaquin Almunia holds one of the most influential portfolios in the Commission. As the EU’s antitrust regulator, he is responsible for guaranteeing fair competition across the EU. The Spanish Commissioner reacts to the downgrade of France’s sovereign debt rating, the possible merger of Deutsche Boerse with NYSE Euronext, and the rise of protectionism.
British Prime Minister David Cameron's demand for special treatment for banks was a risk to the integrity of the internal market and made compromise impossible, the European Commission President Jose Manuel Barroso said on Tuesday.
The world’s biggest aid donor is not the United States but in fact the European Union. Yet will they be able to keep it up with the eurozone facing a titanic debt crisis? Annette Young talks to Kristalina Georgieva, the European Commissioner for International Cooperation and Humanitarian Aid, who’s now working hard to convince European politicians not to cut aid programs.
In an interview in Brussels the day after the crunch eurozone summit, José Manuel Barroso calls for closer integration of the Eurozone countries’ economic policies. “We need to add an economic union to monetary union”, he explains. Barroso complains that EU members “did not respect common rules”. Regarding Greece, although Europe is able to come to its aid, he says Athens must above all implement “structural reforms”.
This weekend's marathon talks in Brussels on the debt crisis have come to an end, but negotiations will continue this week, with solutions slated to be announced on Friday. Meanwhile, non-eurozone members such as the UK are pushing to take a greater role in the talks, saying they are just as affected by the crisis.
The European Commission on Monday gave temporary approval to Belgium's nationalisation of Dexia's Belgian unit, as part of a rescue plan. The dismantled Franco-Belgian bank is the first victim of the eurozone's financial crisis.
European Commission President Jose Manuel Barroso sent stocks markets higher Wednesday after laying out a series of measures to deal with the eurozone debt crisis, which included the creation of a permanent bailout fund.
IMF chief Christine Lagarde is in Paris Saturday for talks with French President Nicholas Sarkozy, one day after the European Commission gave its members ten days to recapitalise overexposed banks.
The European Commission has unveiled draft legislation that would prevent members of Europe’s passport-free travel area from unilaterally reinstating border controls for more than five consecutive days.
