The Open Europe press summary was delayed today due to software problems. We apologise for the inconvenience. EFSF changes would require Parliamentary approval in Germany; CDU Spokesman: “there wouldn't be a majority in the coalition" Handelsblatt reports that German Chancellor Angela Merkel plans to "save the euro" through a combination of stronger eurozone rules and a "plan B" for Greek debt – which could see a restructuring of debt or the EFSF loaning Greece money to buy back its own bonds. CDU EU Spokesman Michael Stübgen MP said, "For this fundamental change of the EFSF there wouldn't be a majority in the coalition". The article notes that increasing the effective lending capacity of the EFSF to €440bn would require parliamentary approval in Germany. Bloomberg quotes Finnish PM Mari Kiviniemi saying that she supports Germany’s insistence that weaker, as well as stronger, eurozone member states should shoulder some of the responsibility for increasing the EFSF. In Die Welt, Business and Financial Editor Jörg Eigendorf says “with each day that Europe goes on this far and fast, the costs to the German taxpayer rise… if the people realised the full extent, they would have vehemently demanded long ago that their government works out a restructuring of the debt”. Irish PM Brian Cowen announced yesterday that general elections will be held on 11 March. The FT notes that Sunday’s Presidential elections in Portugal could be “overshadowed” by the eurozone crisis. The FT Alphaville blog asks, “At what point does Spain’s banking crisis look as bad as Ireland’s?...Around about now.” The Economist’s Charlemagne looks ahead to further banking stress tests, writing, “The question is whether governments really want to hear the bad news, and whether they are prepared to do what it takes to re-organise and recapitalise the banking sector. This, in turn, could raise further questions about public finances.” EUobserver Stuttgarter Zeitung: Barroso AFP Times El Pais El Pais 2 Irish Independent FT Deutschland FT Deutschland FT Deutschland: Editorial Stern.de Spiegel Online FT FT 2 FT 3 FT 4 El Pais 3 Publico Diário de Notícias Economist Irish Independent BBC FT Expresso: Raposo FT Alphaville Economist: Charlemagne’s blog Bloomberg Handelsblatt Le Monde AFP 2 FT Reuters Bloomberg Handelsblatt Handelsblatt 2 Handelsblatt 3 FAZ Economist blog WSJ WSJ 2 Open Europe blog ReutersFT Deutschland Welt: Editorial FT Deutschland Handelsblatt: Leader FD: Korteweg MEPs employing family members kept secret EUobserver reports that around 20 MEPs are still employing family as assistants. The practice was forbidden in July 2009; however re-elected MEPs, who previously employed family, were allowed to keep on doing so until 2014. European Parliament Secretary-General Klaus Welle has refused to disclose details of the MEPs to “protect the confidentiality of personal data”. The Commission said yesterday that the value of greenhouse gas emission permits stolen in cyber-attacks over the last days was about €28m, reports the IHT. The Telegraph notes that EU officials have not ruled out the suggestion that authorised traders may be behind the thefts. Le Monde reports on a survey conducted by IFOP, showing that only 18% of Germans think that their country should consider France as its “privileged partner” in Europe No link An FT editorial argues, “There was a depressing inevitability about the European Commission’s admission this week that Europe’s plan to build its own satellite navigation system would need yet more public money…The EU should look again at Galileo and ask itself if the game is worth the candle.” Open Europe blog Open Europe research FT FT: Editorial In an interview in Het Financieele Dagblad, ECB Chief Economist Jürgen Stark discusses plans for eurozone economic government arguing, "The ECB thinks that the current proposal shouldn't be the last word. We want more [automatic sanctions]”. On his Coulisses de Bruxelles blog, Jean Quatremer notes that France is set to oppose at any cost the appointment of German Bundesbank Chief Axel Weber as the next ECB President. The BBC reports that the EU is close to agreeing to freeze assets belonging to former Tunisian President Zine al-Abidine Ben Ali and his family. AFP reports that Finland has joined France and Germany in opposing Bulgaria’s and Romania’s entry into the EU’s border-free Schengen area. Alan Johnson has resigned as Shadow Chancellor. Ed Balls will move from Shadow Foreign Secretary to be the new Shadow Chancellor. To restructure or not to restructure... Update on the EU Bill - the Government's response to JHA opt ins More on the referendum lock Ask Google: is the euro... Open Europe is an independent think tank campaigning for radical reform of the EU. For information on our research, events and other activities, please visit our website: openeurope.org.uk, follow us on twitter @OpenEurope or call us on +44 (0) 207 1972333 (London) and +32 (0) 2 5408625 (Brussels).Open Europe Europe
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Friday, 21 January 2011
Rheinische Post quotes German MP Günter Krings, deputy faction leader of the CDU in the German Parliament, saying, “the Greeks should have the decency to leave the Schengen area, better today than tomorrow, if they are not willing or are not able to control their borders.”
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