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New on the Open Europe Blog A turbulent Easter in Cyprus Open Europe Blog While Germany is accused of domination its taxpayers feel increasingly vulnerable  Open Europe Blog Has Germany really gone off the idea of an EU treaty change?  Open Europe Blog
Daily Press Summary Cypriot Finance Minister resigns after a deal is reached on bailout agreement Cypriot Finance Minister Michalis Sarris resigned yesterday after only five weeks in charge, following the conclusion of talks with the EU/IMF/ECB Troika over the details of the Cypriot bailout. He reportedly resigned due to the on-going investigation into Laiki Bank, which he used to head, and will be replaced by Labour Minister Harris Georgiades. Meanwhile, the bailout deal agreed sees Cyprus getting two more years to meet its deficit target but the corporate tax rate will increase to 12.5% and 4,500 civil servants will be laid off by 2018. The €10bn loan will have an interest rate of 2.5% and there will be a ten year grace period on repayments. The Troika hopes to finalise the bailout deal by the end of the month. Separately, the Cypriot Finance Ministry yesterday eased part of the capital controls by raising the limit on commercial funds which can be moved abroad without requiring proof of normal business practice, from €5,000 to €25,000. FT FT 2 WSJ Kathimerini Independent Times FAZ FAZ 2 Süddeutsche DWN Welt Welt: Eder Irish Independent Irish times BBC Euractiv The EU’s Financial Transaction tax could increase the cost of issuing UK debt by £3.95bn even though the UK is not one of the eleven states taking part, a study for the City of London Corporation has found.  EUobserver City AM City of London: report Open Europe research: Continental Shift The Swedish financial magazine Dagens Industri Dimension features an interview with Open Europe's Director Mats Persson on the role and influence of think tanks and David Cameron's EU speech. Separately Open Europe’s Research Director Stephen Booth is quoted by Dutch dailyVolkskrant discussing the UK Government’s ‘balance of competences’ review.  Volkskrant In an interview with Euractiv on EU development policy, Open Europe's Pieter Cleppe said that opening up EU markets “would not only benefit producers outside of Europe, it would also benefit consumers in Europe.” He added, “In order to maintain public support for development aid spending, the EU should make extra efforts to make sure it's efficient.”  Euractiv Open Europe research ‘Wise men’ given ten days to find common ground for a new coalition government in ItalyItaly’s President Giorgio Napolitano has given the two commissions he created, known as the ‘wise men’, 10 days to find common ground between the Italian political parties in a last ditch attempt to form the basis of a coalition government. Yesterday during a press conference centre left leader Pier Luigi Bersani said once again that “an agreement with Berlusconi’s party (PDL) is impossible” and that it would lead to paralysed government. However, Bersani stressed that new elections would also be a “disastrous hypothesis”.  Corriere della Sera Sole 24 Ore Le Monde FT The Telegraph reports that a Downing Street spokesman last night said there are “no plans to introduce legislation this side of the election” to enshrine David Cameron’s EU referendum pledge in law, despite demands from around 100 backbench MPs.  Mail Times Telegraph Ministers are “wrestling” with ways to stop EU immigrants from claiming child benefit in the UK and sending it abroad, Chancellor George Osborne said yesterday.  Telegraph Open Europe research Wiener Zeitung reports that the Commission is considering giving France, Portugal and Spain more time to meet their deficit targets. Over the weekend, Spanish press reported that the Spanish government is set to ask for this year’s deficit target to be eased to 6% of GDP from 4.5%.Wiener Zeitung FAZ Presseurop: La Libre WSJ FT The EU/IMF/ECB Troika is set to return to Athens tomorrow but the Greek coalition government remains split over its controversial property tax. Kathimerini reports that Pasok is set to push for the tax to be adjusted along with a cabinet reshuffle at a meeting of the coalition leaders tonight.Kathimerini Former French Budget Minister Jerome Cahuzac has admitted that he lied repeatedly to the French President Francois Hollande, the French parliament and public about the €600,000 he had in an illegal offshore bank account.  Independent Times Le Figaro Le Monde Le Figaro 2 Les Echos Telegraph BBC French President Francois Hollande has launched a new plan to boost the French economy including proposing that that each new regulation should result in the repeal an existing one, the abolition of 101 quangos, the reduction of payment delays to businesses to 20 days and liberalisation of planning laws.  Le Figaro The Netherlands has followed the UK in rejecting the European Commission’s demands for an additional €11.2bn to cover shortfalls in the 2012 and 2013 annual budgets. RTL cites Finance Minister Jeroen Dijsselbloem as saying that the Netherlands would work with likeminded states to “considerably lower this amount”.  EUobserver EurActiv Elsevier RTL Turkish Economy Minister Zafer Çaglayan said yesterday that “We may have to put the customs union with the EU on the table for reassessment, as it is now working against Turkey.”  Todays Zaman Open Europe research: Trading places The Slovenian Parliament voted yesterday unanimously in favour of Croatia joining the EU ending a dispute that had delayed Croatian accession. Croatia is due to join on 1 July 2013.Reuters Die Welt’s Foreign Affairs Editor Clemens Wergin argues that EU decision makers are not held responsible for the consequences of their bad decisions. Wergin cites the example of the EU’s structural funds which in countries like Greece, Spain and Portugal have “had the opposite effect to that which was intended. They have strengthened clientelistic structures and made people there believe their system somehow works”.  Welt: Wergin Open Europe research: EU Regional Policy EU-mediated talks between Serbia and Kosovo have broken up without a deal, leaving major doubts about whether the two countries will be able to take their next steps towards membership of the EU this year.European Voice Euractiv BBC Le Figaro Le Monde

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