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The paradox is, that the EU hates one of its members having a budget deficit of 2 percent of GDP (Italy) but is totally fine with another member having a surplus of the same size (Germany). Is starving your country of money any less egregious than borrowing to spend? A parallel can be made with how the European Central Bank manages monetary policies. The ECB keeps, in contrast with for instance the Bank of England and the FED in the US (under pressure of President Trump), interest rates higher than they would be for fear of allowing inflation above the ceiling of 2 percent.

Ailing Eurozone can learn from Britain

By: N. Peter Kramer | Tuesday, February 5, 2019

Barely a year ago they told us that the Eurozone was at its strongest and that Britain had stepped into the jaws of Brexit and would become the sick man of Europe again

Macron’s government abruptly raised the price of car fuel, without any comprehension of millions living in rural parts of the country, where public transport is lacking and driving is an unavoidable reality of life. But that became a bridge too far, the last straw that broke the camel’s back!

"Monarch" Macron, an out-of-touch president

By: N. Peter Kramer | Monday, January 28, 2019

France is a republic that creates monarchs out of its presidents only to behead them

‘Der Manfred’ made his audience even more stupefied when he told them that he appreciated the European Conservatives and Reformists group (ECR). Ten years ago the ECR was formed by the British Conservatives to provide a euro-critical alternative to the EPP’s traditionally blind pro-EU stance. Weber even praised ECR’s member and Poland’s governing national-conservative Law and Justice (PiS) party

“Spitzenkandidat” Manfred Weber is everyone’s friend (except Marine Le Pen’s)

By: N. Peter Kramer | Monday, January 14, 2019

Probably Socialists will be wiped out in the European elections in May; and also for the liberals the ‘political barometer’ doesn’t show nice weather

The origin of Juncker’s doubts is that Romania’s government has been rocked of fights within one of the ruling parties, the Social Democratic Party, the resignation of the country’s EU minister, and of backsliding in the fight against corruption

Juncker calls Romania unable to lead the Council of the EU

By: N. Peter Kramer | Friday, January 4, 2019

In an interview in the German newspaper Welt am Sonntag, European Commission President Jean-Claude Juncker expressed blunt and unprecedented negative comments on the next EU Presidency, Romania

May’s deal keeps the UK aligned to the EU but with no jurisdiction of EU courts. Of course, it will not have the full benefits of a customs union, but neither it will have the same obligations. It allows the UK to have its independent immigration policy. Regarding the Irish question, the backstop will give the UK frictionless trade possibilities inside the customs union, without contributing to the EU budget

Britain becomes an EU colony?

By: N. Peter Kramer | Tuesday, November 27, 2018

The dust has a bit settled on Theresa May’s Brexit deal with the EU. It looks like that more people took the chance to read more of it and to compare it, for instance, with a no-deal that no one knows what exactly will mean

The Commission has raised concerns that the expanding US economy will suck in more imports, widening the country’s trade deficit and prompting fresh tariff increases. But be not be surprised if the US administration is not impressed by such a comment from ‘Brussels’

The weakening economy in the Eurozone and Brexit still to come...

By: N. Peter Kramer | Monday, November 19, 2018

The European Commission delivered last week the message that the Eurozone economy is shrinking seriously over the next years

The end of the Merkel era

By: N. Peter Kramer | Thursday, November 1, 2018

The day ECB President Mario Draghi had to announce that Eurozone growth is at its slowest pace for more than four years, Bundeskanzlerin Angela Merkel told the world that she will step down as President of her party, the German Christian-Democrats CDU

The hard Brexit is no longer far away

By: N. Peter Kramer | Tuesday, October 16, 2018

Don’t blame the Britons for the hard Brexit appearing on the horizon

The peculiar world of the Christian-Democrats

By: N. Peter Kramer | Tuesday, September 25, 2018

A prominent Dutch politician once said: ‘Count your fingers after shaking hands with a Christian-Democrat.’ Reading how the European Peoples Party (EPP) is handling the ‘Viktor Orban-trial’ brought this remark about the trustworthiness of the Christian-Democrats back to mind

The battle about the EU multiannual budget has begun

By: N. Peter Kramer | Thursday, September 20, 2018

The EU budget will be left with a gap of €12 billion a year after the UK leaves

EU chief negotiator Barnier has to turn the Brexit-tables

By: N. Peter Kramer | Thursday, September 6, 2018

After the EU summit of the end of June, it was reported that some EU27 leaders were considering arranging an informal summit with UK Prime Minister Theresa May

Meanwhile, the EU memberstates refusing to take in migrants, Poland, Hungary, Slovakia and the Czech Republic (the ‘Visigrad Four’) let know they would not attend. French President Emmanuel Macron however wants a swift deal on migration; it would allow the European Summit to focus on his plans on reform to the Eurozone.

A ‘Union’ in disarray

By: N. Peter Kramer | Friday, June 22, 2018

Commission President Juncker announced an ‘informal working meeting’ on Sunday June 24 to discuss the migration and asylum problems

Leaving the euro is not on the agenda in Rome, but there is no doubt that the new Italian government will be on a collision course with ‘Brussels’ over the tight strictures of the single currency and the fiscal stance that it demands.

Dramatic political changes in Italy and Spain

By: N. Peter Kramer | Monday, June 4, 2018

We write at the very beginning of June 2018. Two new national governments were sworn in in the 3rd and 4th biggest economies of the Euro-zone

Rusal is the world’s largest producer of aluminium outside China. US sanctions made prices to jump 30% in the past fortnight. Rusal is also a major supplier of alumina, the refined white powder used by Europe’s leading aluminium producers to make the metal. Insiders said that if these producers could not secure alumina supplies, they would be forced to cut production. With a disastrous effect on industrial giants such as Airbus, BMW and Volkswagen.

US sanctions against Russia are threatening European industrial giants

By: N. Peter Kramer | Monday, April 23, 2018

They are going, cap in hand, to President Donald Trump this week. First Emmanuel Macron, President of France, and later in the week Germany’s Bundeskanzlerin Angela Merkel

In Brussels, France easily gets away with it, as Commission President Jean-Claude Juncker says: ’ because it is France!’. France is too big to fail. But Macron has a solution. He wants, in the name of European solidarity, an EU transfer union to keep the French system afloat. The money should come from Germany, the Netherlands and some other member states, the so-called net-payers who are paying the EU bills already.

Macron’s trick and Merkel’s weakness

By: N. Peter Kramer | Thursday, March 29, 2018

The French president Emmanuel Macron has lost his popularity. France is striking again. Macron profiled himself as the leader of a revolution against "a caste of privileged top officials of the French state."

Election results all over the EU reveal extraordinary levels of voter discontent. The centre-left lost support massively, while the far-right went from strength to strength. One effect is that it is becomes more and more acceptable for centre-right parties to govern with the far-right.

It is clear: voters in the EU are moving more and more to the (far-)right

By: N. Peter Kramer | Friday, March 9, 2018

In Italy voters turned their back on the mainstream parties. They felt abandoned by the rest of the EU, as its coastal areas bore the brunt of the influx of migrants crossing the Mediterranean

The refugee crisis goes on; eastern European countries, especially Poland and Hungary (but they are not alone) persist in not taking their share. This leaves Italy, with its weak economy, and Greece, emaciated by EU politics on their own to find a solution for the inhuman situation. Meanwhile the Commission is powerless, and the Council divided.

A difficult year ahead for the EU

By: N. Peter Kramer | Friday, January 12, 2018

2018 will see more self-interest by EU member states than ever before. Politico calls it even ‘more naked self-interest’

It seems that the Brits have largely ignored the intimidation and doomsday predictions of the top EU negotiators Juncker, Barnier and Verhofstadt; which have been blindly echoed by the mostly Europhile press corps in Brussels.

Britons looking positively to their future

By: N. Peter Kramer | Thursday, January 4, 2018

Most Britons believe that their job will be safe in 2018 and house prices will rise

The energy ministers also ignored calls by the European Parliament to raise the EU’s 2030 target for renewable energy. Projections show that the current target is too low to meet the EU’s commitments under the Paris climate agreement. The EU uproar at Trump’s stance on the agreement and its declaration of world leadership in the wake seems somewhat hypocritical in these circumstances.

EU Energy ministers give Europeans coal for Christmas and ditch the Paris Climate Agreement

By: N. Peter Kramer | Wednesday, December 20, 2017

The EU Energy Ministers have backed coal and other fossil fuels over renewable energy, in the ongoing reform of the EU’s energy laws

The European Commission concluded from an evaluation of the ECB’s banking supervision in October that the European Court of Auditors had less power to audit the ECB than many eurozone audit institutions had to audit their national public supervisors. The national public supervisor is usually the central bank; in the Netherlands it is De Nederlandsche Bank (DNB). The European Commission therefore insisted that the European Court of Auditors and the ECB should reach an agreement on the exchange of information. The five supreme audit institutions consider this to be a ’first step’. ’But ultimately the European Court of Auditors’ mandate in this area needs to be extended.’ They suggest that the European Court of Auditors’ powers should be equal to the mandates that the eurozone audit institutions, such as the Algemene Rekenkamer in the Netherlands and the Bundesrechnungshof in Germany, had to audit their national supervisors before 2014.

Eurozone banking supervision shows a growing audit gap

By: N. Peter Kramer | Thursday, December 14, 2017

The supreme audit institutions of five European countries (Germany, Cyprus, Finland, Austria and the Netherlands) conclude in a joint report that there is a growing audit gap in the public supervision of banks in the eurozone

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EU Actually

Russia and China warn the EU about Euroclear billions

By: N. Peter Kramer

Russian Prime Minister Mikhail Mishustin went on a working visit to Cina. After a meeting with his Chinese colleague Li Qiang in the city of Hangzhou, an extensive press release was published yesterday.

Europe

Can the EU Meet the Trump Moment?

The second term of U.S. President Donald Trump is pushing Europeans to strengthen their capacity for collective action. But their biggest challenge comes from within: U.S.-backed radical-right parties that want to weaken the EU.

Business

China to loosen chip export ban to Europe after Netherlands row

Beijing has said it will loosen a chip export ban it imposed after Dutch authorities took over Nexperia, a Chinese-owned chipmaker based in the Netherlands.