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UN approves resolution authorising no-fly zone over Libya;
FAZ: "The tensions between France and Germany in foreign policy are remarkable.”
The UN Security Council yesterday approved a Franco-British backed resolution authorising the imposition of a no-fly zone and “all necessary measures’’ to protect civilians threatened by the Libyan regime. Germany abstained from the vote.

In an interview with RTL, French Budget Minister and Government Spokesman François Baroin said that France was “disappointed” by Germany’s decision to abstain from the vote in the UN Security Council. He advised that strikes against Libya could start “in a few hours”. In a statement, German Foreign Minister Guido Westerwelle advised that Germany will not take part in the strikes. In the UK, the Cabinet will decide if there is to be a vote in the House of Commons prior to any UK military action. Corriere della Sera reports that Italy could make three military bases available to launch air strikes, although it is unlikely that Italian jets will participate directly. European Council President Herman Van Rompuy and EU Foreign Minister Catherine Ashton issued a statement endorsing the UN resolution.

A leader in FAZ argues, "The tensions between France and Germany in foreign policy are remarkable. While Paris was still sceptical about the development in the Arab world, Foreign Minister Westerwelle greeted them as the advent of freedom".

Following the vote, Libyan leader Colonel Gaddafi threatened retaliatory attacks on passenger aircraft in the Mediterranean. Meanwhile, Humanitarian Aid Commissioner Kristalina Georgieva said that the EU could help evacuate Libyans seeking refuge in Egypt and Tunisia by sea.
Le Point Euractiv France AFP Corriere della Sera Mail Telegraph FT FT 2 EurActiv EurActiv 2 European Voice FT: Stephens Independent Metro Stern RTL: BaroinEUobserver BBC: Today Guardian Times Times 2 Times: leader Times 3 Next Left EFE Times: Aaronovitch El Pais: Menéndez Del Valle Europa Press BBCEUobserver Mirror: Lord Owen Le Point Euractiv France

German parliament goes against Merkel on bail-out fund
The German parliament approved a non-binding motion yesterday which explicitly calls on the government to ban the EU bail-out funds from being able to purchase government bonds. This runs contrary to the agreement German Chancellor Angela Merkel struck at last week’s eurozone summit. Finance Minister Wolfgang Schaeuble also confirmed that Germany would be required to pay €28bn in capital into the eurozone’s permanent bail-out fund. Meanwhile, the FT reports that Merkel faces a possible setback in Sunday’s regional election in Saxony-Anhalt, which would further erode her political authority in Berlin.

The Economist argues that at the next EU summit meeting Irish Prime Minister Enda Kenny should support the common corporate consolidated tax base (CCCTB) in order to secure preferential bail-out terms. However, writing in the Irish Times, Feargal O’Rourke argues that since the “rate of tax becomes absolutely irrelevant under CCCTB…Agreeing to CCCTB is not an option under any circumstances.”

In a comment piece in Les Echos, journalist Isabelle Couet argues that a restructuring of the whole Greek debt…is possible. And even probable.”
Irish Times Handelsblatt WSJ WSJ: Mattich Irish Times: Pine Coulisses de Bruxelles Les Echos FT Irish Times 2 Irish Times: O'Rourke Economist: CharlemagneEconomist IHT Irish Independent Irish Independent 2 Reuters AFP Reuters 2 Les Echos: Couet

Business Secretary Vince Cable is to scrap plans to introduce more flexible working rights. In its editorial, the Mail calls on Cable to be “bolder in untangling red tape”, and suggests the “the avalanche of regulations pouring out of the EU every week” needs to be addressed, with the UK’s relationship with Brussels reconsidered if necessary.
Mail Mail: Comment Telegraph: Fletcher FT Independent

EU’s second attempt at banking stress tests fails to impress;
The “vast amount” of bank’s eurozone sovereign debt holdings will be exempt
The European Banking Authority has today published the methodology and parameters for its new stress tests on the EU’s banks, with the results due to be published in June. EBA Chairman Andrea Enria has warned that European governments must put in place emergency bank recapitalisation mechanisms before the results are published.

The FT’s Alphaville blog’s verdict on this year’s tests is, “A first glance has them about as meek as expected.” The FT’s Banking Editor Patrick Jenkins notes that, “the vast amount of banks’ sovereign holdings, which sit in hold-to-maturity banking books, are not tested, even though there is a widespread market expectation that some eurozone debt – notably that of Greece and Ireland – could well be restructured.”

The UK has said that its tests will be tougher than those carried out across the EU.
Irish Times Marketwatch Reuters FT FT 2 FT: Alphaville blog IHT European Banking Authority

The Parliament reports that Dutch European Affairs Minister Ben Knapen has said the Dutch government backs a single seat for the European Parliament, pledging that the Dutch government would work with its EU partners to build support for a change to the treaty to give parliament a single seat.
Parliament

Minister confirms UK is “likely” to opt in to EU law on sharing air passengers’ data with foreign police forces
Coalition Minister Lady Neville-Jones has said the Government is “likely” to opt in to a new EU policing law that would require the UK to share its air passenger data with other EU law enforcement agencies. The European Commission's (EC) proposal, as drafted, would apply only to flights to and from non-EU countries. But the UK Government wants it extended to include flights within the EU. The Directive will be discussed at the next meeting of EU home affairs ministers on April 11.
PA OE research

Following criticism from MEPs that US requests for EU citizens’ bank data under the Terrorist Finance Tracking Programme are not being processed with sufficient scrutiny, the IHT reports that the Commission has asked US authorities to amend the programme to make it more transparent.
IHT European Voice

The Mail reports that the pepperly Cumberland sausage will today become the 44th British product to be awarded the Protected Geographical Indication status by the EU.
Mail

EUobserver reports that yesterday EU agriculture ministers agreed to a gradual re-distribution of EU farm subsidies from older to newer member states, but failed to endorse plans to establish an upper ceiling for farm payments.
EUobserver Nu.nl

NOS quotes EU Budget Commissioner Janusz Lewandowski saying that next year’s EU budget increase “will be bigger than the increase of last year”, setting him on a collision course with member states.
NOS