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While Britain and the United States remain close on issues such as intelligence, the war in Afghanistan, how to handle Iran, free trade and economic issues, experts say both countries appear to be altering overall expectations of their alliance.

The end of something 'special'?

By: Reuters | Wednesday, May 5, 2010

Britain's role as a bridge between the United States and European Union has diminished and that trend will accelerate if the May 6 vote is inconclusive, with Washington looking more and more to the European Union as a whole as a global partner.

There will be a major test of confidence next month when Portugal will have to redeem five billion euros of Treasury bonds that mature on May 20. The government says there will be no problems.

Is Portugal next?

By: Reuters | Thursday, April 29, 2010

Portugal should be able to avoid being the next country after Greece to need an EU bailout as there is a strong likelihood that an austerity plan announced last month will gain parliamentary approval and then be accepted by the population without violent protests.

The founding fathers of the European Union were motivated by a most noble goal: to create the institutions needed to secure lasting peace on the continent.

Strauss - Kahn: The Road Ahead for Europe

By: Dominique Strauss-Kahn, IMF Managing Director | Tuesday, April 27, 2010

The integration of Europe’s goods, capital, and labor markets has brought tremendous benefits to all its members—with the economies of the new member states in particular enjoying a rapid catch-up.

Greece bowed to pressure from financial markets on Friday (23 April), making a formal request for the activation of a joint aid package from the EU and International Monetary Fund (IMF) that is valued at up to 45 billion euros.

Greece: New measures before it receives any financial aid

By: Euractiv | Monday, April 26, 2010

Greece must agree to tough new austerity measures before it receives any financial aid from the European Union and failure to do so would endanger such support, German Finance Minister Wolfgang Schaeuble told a newspaper.

Wasn’t it Commission’s President Barroso, who told us in 2009, when the Russians cut of the Ukrainian transit pipeline, that gas coming from Russia is not secure? In 2010 however the European Commission sees Nord Stream as an EU ‘priority’ project that in 2012 will supply an annually 55 billion cubic meters of gas.

Even Pipelines give the Blues

By: N. Peter Kramer | Tuesday, April 13, 2010

The day before the Polish President, his wife and dozens of top Polish political and military leaders died in a plane crash, Russian and EU officials marked the start of the construction of Nord Stream gas pipeline: a first chunk of 48-inch-diameter steel pipe was laid on the Baltic Sea bed.

In a rare weekend telephone conference, finance ministers of the 16 nations that share the single European currency backed a detailed plan for Greece to borrow from euro-zone governments and the IMF at significantly below market rates.

Euro zone readies giant rescue package for Greece

By: Reuters | Monday, April 12, 2010

(Reuters) - Euro zone finance ministers approved a giant 30-billion-euro ($40 billion) emergency aid mechanism for debt-plagued Greece on Sunday, but stressed Athens had not requested the plan be activated yet.

Presenting the Interim Economic Assessment for G7 countries, OECD Chief Economist Pier Carlo Padoan said: “Although we are seeing some encouraging signs of stronger activity, the fragility of the recovery, a frail labour market and possible headwinds coming from financial markets underscore the need for caution in the removal of policy support.”

Growth seen easing back slightly in US, Europe and Japan in first half of 2010

By: EBR | Wednesday, April 7, 2010

The pickup in activity seen in the G7 countries in the last quarter of 2009 is expected to ease back in the first half of this year, according to the OECD’s latest Interim Economic Assessment. Consumer and business demand is likely to suffer from sluggish credit growth.

President Van Rompuy’s week was a good one. After managing ‘a wise compromise’ (according to the Financial Times) for a rescue package for Greece, the EU leaders promised to improve economic governance by an ‘economic government’ headed by Van Rompuy.

EU - US summits ‘only when necessary’ …

By: N. Peter Kramer | Tuesday, March 30, 2010

After cancellation of the planned EU-US May summit in Madrid, a policy-director within the US State Department said, during a forum in Brussels last Friday, that EU-US summits will no longer be organised automatically. A second blow by Obama for his European friends?

The French presidency said there would be

Deal reached over Greece's debts

By: BBC News | Thursday, March 25, 2010

All 16 eurozone countries have backed a financing plan to help debt-laden Greece, which will include IMF money. The safety net would total up to 22bn euros (£20bn), but would only be used if market lending to Greece dried up.

German Chancellor Angela Merkel told her audience that the European Union needs better rules to ensure that memberstates obey debt limits.

Merkel plays it tough and … makes a U-turn

By: N. Peter Kramer | Friday, March 19, 2010

Mrs Merkel placed the burden on Greece, to implement an austerity program designed to slash the budget deficit equal to 12,7 percent of its GDP. An aid package, as proposed by some finance ministers of eurozone, is for her not the right answer: "the turnaround must come from Greece".

The summary found that 10 out of 27 EU Member States are likely to exceed their national targets for renewable energy, with a further 12 set to meet their goals domestically. Only five Member States are currently expected not to meet their target with domestic sources only.

Renewable energy: forecasts show EU on track to meet 20% target

By: EC Press Room | Friday, March 12, 2010

The EU will surpass its target to consume 20 per cent of its energy from renewable energy by 2020, according to national forecasts submitted to the European Commission. In its summary, the Commission finds that the EU will reach an overall share of 20,3 per cent renewables.

This week, in an appearance in the European Parliament, Lady Ashley hit back at her critics by blaming rivalry among the EU institutions for the slow progress in establishing the new EU diplomatic service.

EU memberstates and Commission mangle Lady Ashton

By: N. Peter Kramer | Thursday, March 11, 2010

Life as the first EU’s Foreign Policy Chief under the Lisbon Treaty is not easy for Lady Catherine Ashton, a former leader of UK’s unelected House of Lords who then, as successor of Peter Mandelson and till the appointment for her current position served as European Commissioner for Trade.

Commission President José Manuel Barroso said:

Climate change: European Commission sets out strategy to reinvigorate global action after Copenhagen

By: EC Press Room | Wednesday, March 10, 2010

The European Commission today set out a strategy to help maintain the momentum of global efforts to tackle climate change. The Communication proposes that the EU swiftly begin implementing last December's Copenhagen Accord, in particular 'fast start' financial assistance to developing countries.

The Europe 2020 Strategy therefore sets out a vision for Europe's social market economy over the next decade, and rests on three interlocking and mutually reinforcing priority areas: Smart growth, developing an economy based on knowledge and innovation; Sustainable growth, promoting a low-carbon, resource-efficient and competitive economy; and Inclusive growth, fostering a high-employment economy delivering social and territorial cohesion.

Europe 2020: Commission proposes new economic strategy in Europe

By: EBR | Wednesday, March 3, 2010

The European Commission has launched today the Europe 2020 Strategy to go out of the crisis and prepare EU economy for the next decade. The Commission identifies three key drivers for growth, to be implemented through concrete actions at EU and national levels.

The role played by foreign banks in overcoming the crisis was important, said Mr Keeremans, while Mr Darvas argued that, on one hand, the dominant presence of foreign banks contributed to pre-crisis economic growth but, on the other hand, their policies and

Impact of the crisis: don't lump all new Member States together

By: EC Press Room | Tuesday, March 2, 2010

Initially the new EU Member States were thought to have been hit harder by the crisis than the old ones. In fact, there is considerable variation within both groups, agreed experts at a workshop on the impact of the crisis on the new Member States.

Growth projections for the first half of this year have been revised slightly upward in the Commission’s forecast for both the EU and the euro area. But because of marginal downward revisions for the second half of 2010, the projected rate of GDP growth in 2010 as a whole remains broadly unchanged at 0.7% in both areas.

EU interim forecast: recovery is in progress but remains fragile

By: EC Press Room | Friday, February 26, 2010

The EU economy is gradually recovering, whilst still facing headwinds. Real GDP started to grow again in the third quarter of 2009, ending the longest and deepest recession in the EU's history. The exceptional crisis measures put in place in the EU played a major role in turning the economy around.

What was the real reason for Obama’s refusal to come to Madrid? Charles Grant, director of the Center for European Reform said: ‘Obama clearly has no emotional identification with Europe. He has a cool analytical view of allies and partners. When the Europeans can’t provide much to help America solve global security problems, Obama doesn’t want to spend too much time on it’.

No Obama in Madrid, no Swift agreement with the US

By: N. Peter Kramer | Wednesday, February 24, 2010

Relations between EU and US have known better times. In January President Barack Obama cancelled his presence at the EU-US Summit scheduled for May in Madrid; in its February plenary session, a majority in the European Parliament rejected an agreement on banking data transfers to the US.

The EP recognised that financial data are crucial in tracking terrorist activities but it took also the matter of data protection law as well as for example the principle of reciprocity extremely seriously.

European Parliament shows its new muscles!

By: N. Peter Kramer | Friday, February 12, 2010

It was a hard job for Jerzy Buzek President of the European Parliament! Usually he is busy with lecturing Russia and shaking hands with former winners of the Sakharov Prize.

The European Council president has called this extraordinary meeting to allow the twenty-seven member states to analyse their economic plans for the coming years.

EU holding top-level discussion on economic situation

By: EBR | Thursday, February 11, 2010

In Brussels today European leaders are seeking commitment to the aim of implementing a renewed economic strategy for employment and growth in the EU and at the same time will debate how to help Greece resolve its budgetary crisis.

Parliament set to gain new powers in its relations with the Commission

By: EBR | Tuesday, February 9, 2010

The European Parliament approved on Tuesday a set of key principles to be implemented in the cooperation agreement governing relations between the EP and the Commission. Commission President Barroso endorsed MEPs' demands, reflecting the new position of Parliament under the Lisbon Treaty.

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