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Monday, 24 November 2014
Holy ties
Pope Francis' visit to the European Parliament is not a special event. Dialogue between the EU and Vatican City started in the 70's
by Emanuele Bonini
Tomorrow pope Francis will pay visit to the European parliament in Strasbourg, for the second time in the history of the European Union and twenty six years after last pope's visit to the EU institution. It was Pope John Paul the 2nd the one who broke the tradition of non-relation between the EU and the Vatican State. The 11th of October 1989 he travelled to Strasbourg opening a new era in bilateral ties. Until that moment relationships between EU and the State of Church were just formally held: there was a mutual recognition and nothing more. There reason is clear: the European Union was born as European Economic Union. The political dimension of the single market was not yet in the agenda, and there were no reasons to have ties with the State of Church. Only once the political construction of the former EEC was developed the situation changed. Anyway, the 21st of October 1958 Robert Schuman addressed the plenary session of the European Parliament paying tribute to pope Pius XII, dead few days before (the 9th of October). In that occasion a Pope entered inside the European institutions for the fist time ever. More structured ties will be established only in the 70's. In 1970 the State of Church decided to have a permanent mission in Brussels, establishing an Apostolic nuncio to European Community. Next step will be the creation of the European Pastoral Information Service (EPIS) in 1976, then turned into the Commission of the Bishops' Conferences of the European Community (COMECE), the body which put together the 27 Catholic Bishops' Conferences of the European Union and it has a permanent Secretariat in Brussels. This new foreign policy adopted by the Holy See reached the highest point in 1989, when pope John Paul II payed visit to the European Parliament, meanwhile become directly elected by the citizens.
Tomorrow pope Francis will pay visit to the European parliament in Strasbourg, for the second time in the history of the European Union and twenty six years after last pope's visit to the EU institution. It was Pope John Paul the 2nd the one who broke the tradition of non-relation between the EU and the Vatican State. The 11th of October 1989 he travelled to Strasbourg opening a new era in bilateral ties. Until that moment relationships between EU and the State of Church were just formally held: there was a mutual recognition and nothing more. There reason is clear: the European Union was born as European Economic Union. The political dimension of the single market was not yet in the agenda, and there were no reasons to have ties with the State of Church. Only once the political construction of the former EEC was developed the situation changed. Anyway, the 21st of October 1958 Robert Schuman addressed the plenary session of the European Parliament paying tribute to pope Pius XII, dead few days before (the 9th of October). In that occasion a Pope entered inside the European institutions for the fist time ever. More structured ties will be established only in the 70's. In 1970 the State of Church decided to have a permanent mission in Brussels, establishing an Apostolic nuncio to European Community. Next step will be the creation of the European Pastoral Information Service (EPIS) in 1976, then turned into the Commission of the Bishops' Conferences of the European Community (COMECE), the body which put together the 27 Catholic Bishops' Conferences of the European Union and it has a permanent Secretariat in Brussels. This new foreign policy adopted by the Holy See reached the highest point in 1989, when pope John Paul II payed visit to the European Parliament, meanwhile become directly elected by the citizens.
Sunday, 23 November 2014
Federer crowned Switzerland world champion
Former world tennis player number one established last record in France, winning the Davis Cup. Now "king Roger" has got everything
by Emanuele Bonini
King Roger is back. Thirty three years old but still on the top of world tennis. It seemed Federer's star was eclipsed once and for all, but it shines bright. His last victory in a Grand Slam was celebrated in 2012. Maybe a new generation of champions in ATP made forced the Swiss tennis player to leave the first position in men ranking, but there still something to win: the David Cup. And Federer won. Of course it was not a Federer personal victory, but destiny wanted was he the one to close the challenge winning the decisive match. Now, bringing Switzerland to win the Davis Cup for time first time in tennis history, Federer rose to the Olympus. He was able to win everything he could: the Davis Cup was the only trophy never gained in career, and this gap was overtaken. Thus once again Federer re-wrote his personal sport life, his statistics, his legend. He took less than two hours to do all that: the Swiss prevailed on Richard Gasquet 6-4, 6-2, 6-2. A perfect game played in one hour and fifty two minutes. It could be said everything, it could be possible write very long, but it's not here the right place to do so. Here is time to celebrate perhaps the best player modern tennis has never had.
King Roger is back. Thirty three years old but still on the top of world tennis. It seemed Federer's star was eclipsed once and for all, but it shines bright. His last victory in a Grand Slam was celebrated in 2012. Maybe a new generation of champions in ATP made forced the Swiss tennis player to leave the first position in men ranking, but there still something to win: the David Cup. And Federer won. Of course it was not a Federer personal victory, but destiny wanted was he the one to close the challenge winning the decisive match. Now, bringing Switzerland to win the Davis Cup for time first time in tennis history, Federer rose to the Olympus. He was able to win everything he could: the Davis Cup was the only trophy never gained in career, and this gap was overtaken. Thus once again Federer re-wrote his personal sport life, his statistics, his legend. He took less than two hours to do all that: the Swiss prevailed on Richard Gasquet 6-4, 6-2, 6-2. A perfect game played in one hour and fifty two minutes. It could be said everything, it could be possible write very long, but it's not here the right place to do so. Here is time to celebrate perhaps the best player modern tennis has never had.
Wednesday, 19 November 2014
Did Juncker lose Liberal support?
ALDE group chair presented a new investment plan which replaces that one of the president of the European Commission. A non-confidence vote?
by Emanuele Bonini
The president of the Group of the Alliance of Liberals and Democrats for Europe (ALDE), Guy Verhofstadt, launched today his investment package. It is the answer and maybe even the counter-proposal to Jean-Claude Juncker's 300 billion Euro investment plan. According to Verhofstadt, Juncker's proposal is insufficient to address the challanges and the difficulties the European Union has to deal with. ALDE group chair is ready to mobilize 700 billion Euro, more than the two times compared to Juncker's plan. «Why 700 billion Euro? because this is the amount of the investment gap we have in the Euro area today», pointed out Verhofstadt. Thus it appears clear Liberals believe Juncker's package is not enough. Three are the main element of Verhofstadt's proposal: a European Union investment found (EUIF) based on European collateral, a European tax stimulus for households and small and medium sized businesses, and the opening up of the market. The EUIF will be based on the principle of the risk sharing: 8% of the fund will have guarantees from EU member States, 8% of guarantees from the European Investment Bank and 4% of guarantees from the European Financial Stability Mechanism. The EUIF will issue European bond whose income will be tax exempt. EU bonds are supposed to replace project bonds, one of the main instrument could be used by Juncker. «I've been listening to talk about project bond since many year and I have never seen them. I have the impression it is a joke». Despite Verhofstadt's strategy - to be verified - is the political message liyng in this initiative to appear very clear: European Liberals don't trust Jean-Claude Juncker any more.
The president of the Group of the Alliance of Liberals and Democrats for Europe (ALDE), Guy Verhofstadt, launched today his investment package. It is the answer and maybe even the counter-proposal to Jean-Claude Juncker's 300 billion Euro investment plan. According to Verhofstadt, Juncker's proposal is insufficient to address the challanges and the difficulties the European Union has to deal with. ALDE group chair is ready to mobilize 700 billion Euro, more than the two times compared to Juncker's plan. «Why 700 billion Euro? because this is the amount of the investment gap we have in the Euro area today», pointed out Verhofstadt. Thus it appears clear Liberals believe Juncker's package is not enough. Three are the main element of Verhofstadt's proposal: a European Union investment found (EUIF) based on European collateral, a European tax stimulus for households and small and medium sized businesses, and the opening up of the market. The EUIF will be based on the principle of the risk sharing: 8% of the fund will have guarantees from EU member States, 8% of guarantees from the European Investment Bank and 4% of guarantees from the European Financial Stability Mechanism. The EUIF will issue European bond whose income will be tax exempt. EU bonds are supposed to replace project bonds, one of the main instrument could be used by Juncker. «I've been listening to talk about project bond since many year and I have never seen them. I have the impression it is a joke». Despite Verhofstadt's strategy - to be verified - is the political message liyng in this initiative to appear very clear: European Liberals don't trust Jean-Claude Juncker any more.
Italy to stay in Afghanistan after 2014
The Italian minister of Defence confirmed commitments taken by previous government
by Emanuele Bonini
Italian commitment for Afghanistan won't be over at the end of the year, assured yesterday the Italian minister of Defence, Roberta Pinotti. The Country will respect the international obligation leaving a small military force deployed on the ground. «Previous governments granted the availability of a military coordination in western part of Afghanistan, and being a serious country we are going to respect these obligation», stated Pinotti in the margin of the Foreign Affair council. Anyway, «Afghanistan has to be a military scenario to be closed», she added. Italy will provide «an average military presence of about 500 soldiers», and «any further engage will have to be approved by the Parliament».
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| Roberta Pinotti |
Italian commitment for Afghanistan won't be over at the end of the year, assured yesterday the Italian minister of Defence, Roberta Pinotti. The Country will respect the international obligation leaving a small military force deployed on the ground. «Previous governments granted the availability of a military coordination in western part of Afghanistan, and being a serious country we are going to respect these obligation», stated Pinotti in the margin of the Foreign Affair council. Anyway, «Afghanistan has to be a military scenario to be closed», she added. Italy will provide «an average military presence of about 500 soldiers», and «any further engage will have to be approved by the Parliament».
«ECB ready to buy sovereign bond», said Draghi
The European Central Bank works at unconventional measures, stressed the president of the institution. Structural reforms remain crucial
by Emanuele Bonini
The European Central Bank is ready to buy sovereign bond in order to stabilize the Euro zone economy, said the president of the ECB Mario Draghi on Monday. Accommodative monetary policy are the main instrument used by ECB to help the recovery, but «other unconventional measures might entail the purchase of a variety of assets, and one of which is sovereign bonds». Unconventional measures will be undeniable, because «monetary policy alone cannot overcome financial fragmentation in the Euro area», warned Draghi during the Economic dialogue with the European Parliament. «Fragmentation across national borders also reflects underlying national imbalances and institutional deficiencies». Overcoming these imbalances «require determined structural reforms on the side of national governments to improve the business environment and setting incentives to invest, with the aim to boost productivity, create new jobs and raise the growth potential of the economy». As ECB president explained, «risks to the economic outlook continue to be on the downside», and « insufficient progress in structural reforms in Euro area countries constitutes a key downward risk to the economic outlook». It's time to push accelerate the reform process within the framework of what stated in the stability and growth pact, pointed out Mario Draghi. His message is clear and it will be something not welcomed in countries as France or Italy, where flexibility is one of the main political priority in the EU agenda. Mario Draghi's point of view is totally different. «There is an urgent need to agree on concrete short-term commitments for structural reforms in the Member States, on a consequent application of the Stability and Growth Pact, on the aggregate fiscal stance for the Euro area, on a strategy for investment, and to launch work on a long-term vision to further share sovereignty ensuring the sustainable and smooth functioning of Economic and Monetary Union». All that is easy to say, less simple to put in practice. Since the Euro area Member State are divided on the necessity of a strong fiscal consolidation, it appears difficult to have a common and shared strategy to put forward. But it is exactly what the president of the ECB expects from the twenty-eight (twenty-nine from January) governments. Draghi has no doubts that «2015 needs to be the year when all actors in the Euro area, governments and European institutions alike, will deploy a consistent common strategy to bring our economies back on track».
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| Mario Draghi |
The European Central Bank is ready to buy sovereign bond in order to stabilize the Euro zone economy, said the president of the ECB Mario Draghi on Monday. Accommodative monetary policy are the main instrument used by ECB to help the recovery, but «other unconventional measures might entail the purchase of a variety of assets, and one of which is sovereign bonds». Unconventional measures will be undeniable, because «monetary policy alone cannot overcome financial fragmentation in the Euro area», warned Draghi during the Economic dialogue with the European Parliament. «Fragmentation across national borders also reflects underlying national imbalances and institutional deficiencies». Overcoming these imbalances «require determined structural reforms on the side of national governments to improve the business environment and setting incentives to invest, with the aim to boost productivity, create new jobs and raise the growth potential of the economy». As ECB president explained, «risks to the economic outlook continue to be on the downside», and « insufficient progress in structural reforms in Euro area countries constitutes a key downward risk to the economic outlook». It's time to push accelerate the reform process within the framework of what stated in the stability and growth pact, pointed out Mario Draghi. His message is clear and it will be something not welcomed in countries as France or Italy, where flexibility is one of the main political priority in the EU agenda. Mario Draghi's point of view is totally different. «There is an urgent need to agree on concrete short-term commitments for structural reforms in the Member States, on a consequent application of the Stability and Growth Pact, on the aggregate fiscal stance for the Euro area, on a strategy for investment, and to launch work on a long-term vision to further share sovereignty ensuring the sustainable and smooth functioning of Economic and Monetary Union». All that is easy to say, less simple to put in practice. Since the Euro area Member State are divided on the necessity of a strong fiscal consolidation, it appears difficult to have a common and shared strategy to put forward. But it is exactly what the president of the ECB expects from the twenty-eight (twenty-nine from January) governments. Draghi has no doubts that «2015 needs to be the year when all actors in the Euro area, governments and European institutions alike, will deploy a consistent common strategy to bring our economies back on track».
Monday, 17 November 2014
bLOGBOOK - Love
«I love you»
«I... I love you, too. But... Well, I love you as a friend»
Language changes, story never does.
Saturday, 15 November 2014
AS Gryffindor, yellow and red magic
Once again Gryffindor and AS Roma paths come back to cut cross each other. For inexplicable reasons the two teams show to wear very similar uniform: they are completely red with little horizontal yellow strips in the middle. As shown by the picture on the left, in case of Gryffindor strips move toward the player number, while in AS Roma case strips lead to the team crest. It's not the first time this muggles football team share the same uniform conception with the most famous quidditch team in Hogwarts. Maybe it's because of the magic nature of the two teams. Gryffindor is composed by wizards and witches, while AS Roma is magic and that's it (as among smuggles AS Roma fans state all the time...).
Friday, 14 November 2014
Why Juncker can't resign
No way. Euroscepticism and a new political scenario difficult to manage force the president of the European Commission to go ahead
Opinion
Jean-Claude Juncker faced the so called LuxLeaks "scandal" and the political answer is he'll stay where he is. He will remain at the head of the European Commission, and for at least two reasons. First of all everybody knows Luxembourg is a tax heaven, this is something we can't discover today. If we do, it's our mistake and Juncker's. Not only Juncker's. The latter pointed out in Europe there are other twenty one countries allowing the so called advanced tax ruling, the special fiscal agreement between companies and national authorities by which enterprises have a very low tax rate to pay just in the country they negotiate with and are exempted from paying in other state they operate. Thus problem don't lie in Luxembourg, and it's not a new. There's a strange timing for this scandal, but this is another story. Somebody wants to weaken Jean-Claude Juncker's image, but the president of the European Commission can't be forced to resign. Juncker is the result of a European political revolution, the indirect election wanted by the European parties. Since voters have expressed their right after the indication of Juncker for president by the EPP, should we expect new elections? This a question MEPs in the European Parliament probably asked themselves when decided to renew their confidence in Juncker. The EU can't afford a period of legislative and political vacancy: economic and foreign agendas require to be operative. In case of Junckers' resignation the European Commission would have its power of legislative initiative blocked, and the same would happen for the co-decision power of the European Parliament. Of course, if the EU Parliament has to be forced to quit functioning.
Jean-Claude Juncker faced the so called LuxLeaks "scandal" and the political answer is he'll stay where he is. He will remain at the head of the European Commission, and for at least two reasons. First of all everybody knows Luxembourg is a tax heaven, this is something we can't discover today. If we do, it's our mistake and Juncker's. Not only Juncker's. The latter pointed out in Europe there are other twenty one countries allowing the so called advanced tax ruling, the special fiscal agreement between companies and national authorities by which enterprises have a very low tax rate to pay just in the country they negotiate with and are exempted from paying in other state they operate. Thus problem don't lie in Luxembourg, and it's not a new. There's a strange timing for this scandal, but this is another story. Somebody wants to weaken Jean-Claude Juncker's image, but the president of the European Commission can't be forced to resign. Juncker is the result of a European political revolution, the indirect election wanted by the European parties. Since voters have expressed their right after the indication of Juncker for president by the EPP, should we expect new elections? This a question MEPs in the European Parliament probably asked themselves when decided to renew their confidence in Juncker. The EU can't afford a period of legislative and political vacancy: economic and foreign agendas require to be operative. In case of Junckers' resignation the European Commission would have its power of legislative initiative blocked, and the same would happen for the co-decision power of the European Parliament. Of course, if the EU Parliament has to be forced to quit functioning.
Thursday, 13 November 2014
EU to defy Russia in Transnistria
The European Parliament backed the association agreement with the Republic of Moldova, to be implemented in the territory controlled by Moscow
by Emanuele Bonini
The European Parliament gave today its consent to the EU-Moldova association agreement, which includes a Deep and comprehensive free trade agreement (DCFTA). The deal - backed by 535 votes to 94, with 44 abstentions - will form the backbone of strengthened political association and economic integration between the EU and Moldova and provide for mutual free market access. The key issue of the agreement is the Transnistrian breakaway state. Transnistria self-proclaimed independence on September 1990, and actually is still claimed by the Republic of Moldova and controlled by Russia. The EU-Moldova association agreement endorsed by the EU Parliament covers «the entire internationally recognised territory of the Republic of Moldova». It means Transnistria, «as an integral part of it, must be covered by the agreement’s effects», MEPs stressed. The ratification of the EU-Moldova association agreement «is a clear acknowledgement of the success of Moldova’s political and economic reform process, which establishes its European prospects and bears witness to its determination eventually to join the EU», said rapporteur Petras Auštrevičius (ALDE). For such a reason MEPs called Russia to «fully respect Moldova’s territorial integrity and European choice».
Will Russia accept the European attitude over a part of the world where the Kremlin still has interests? Ukraine showed how former Soviet republics are not free to decide about their own destiny. Europe don't understand is not wise interfere in Russian affairs, and Moldova, as well as Ukraine, is not a European business. The president of the European Parliament, Martin Schulz, stated now «it is tremendously important to continue to further strengthen the rule of law and the fight against corruption and to renew the stalled talks on the resolution of the Transnistria conflict». Are we really sure is the EU who can set the agenda up in Transnistria? We're talking about a country where the official currency is Transnistrian ruble and one third of the population (30,5%) is Russian. After the Ukrainian crisis, this approach on Transnistria isn't too risky? Probably it will be Russia to give the answer.
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| click to enlarge |
The European Parliament gave today its consent to the EU-Moldova association agreement, which includes a Deep and comprehensive free trade agreement (DCFTA). The deal - backed by 535 votes to 94, with 44 abstentions - will form the backbone of strengthened political association and economic integration between the EU and Moldova and provide for mutual free market access. The key issue of the agreement is the Transnistrian breakaway state. Transnistria self-proclaimed independence on September 1990, and actually is still claimed by the Republic of Moldova and controlled by Russia. The EU-Moldova association agreement endorsed by the EU Parliament covers «the entire internationally recognised territory of the Republic of Moldova». It means Transnistria, «as an integral part of it, must be covered by the agreement’s effects», MEPs stressed. The ratification of the EU-Moldova association agreement «is a clear acknowledgement of the success of Moldova’s political and economic reform process, which establishes its European prospects and bears witness to its determination eventually to join the EU», said rapporteur Petras Auštrevičius (ALDE). For such a reason MEPs called Russia to «fully respect Moldova’s territorial integrity and European choice».
Will Russia accept the European attitude over a part of the world where the Kremlin still has interests? Ukraine showed how former Soviet republics are not free to decide about their own destiny. Europe don't understand is not wise interfere in Russian affairs, and Moldova, as well as Ukraine, is not a European business. The president of the European Parliament, Martin Schulz, stated now «it is tremendously important to continue to further strengthen the rule of law and the fight against corruption and to renew the stalled talks on the resolution of the Transnistria conflict». Are we really sure is the EU who can set the agenda up in Transnistria? We're talking about a country where the official currency is Transnistrian ruble and one third of the population (30,5%) is Russian. After the Ukrainian crisis, this approach on Transnistria isn't too risky? Probably it will be Russia to give the answer.
Italy reform progress is uneven, warned the EU
Measures have been taken, according to Review of progress on the implementation of reforms. But «outcomes remain uncertain»
by Emanuele Bonini
Reform momentum at government level has picked up but progress is uneven, said the European Commission in the Review of progress on policy measures relevant for the correction of macroeconomic imbalances. «Several ambitious reform packages that could represent a step-change still await full adoption or further implementing decrees and outcomes thus remain uncertain». Loooking more in detail, «significant uncertainty surrounds the spending review, which is key for financing important measures in the coming years». The programme is lagging behind initial plans announced in 2013 and a recent change in approach «may lower the quality of the cuts», while the implementation of the privatisation plan in 2014 «has incurred a delay». Furthermore the implementation of the enabling law to reform the tax system is progressing, but «progress in the important areas of tax expenditure revision and environmental taxation is still limited». Italy is doing not well, according to the EU Commission report. Not a good new for the country, since the implementation of structural reforms is crucial to avoid Macroeconomic imbalances procedure (Mip). Italy remains under control, according to the European Commission. «Progress in the coming months will be crucial to evaluate Italy's success in implementing measures to address its imbalances». Looking at the state of play of MIP relevant reforms, Italy still has a lot to do.
Public debt reduction. Italy's very high government debt is an important burden for the economy and a serious source of vulnerability, in particular in the current low growth and inflation context. The large stock of public debt implies substantial refinancing risk and makes the country vulnerable to sudden rises in sovereign yields and financial-market volatility in periods of increased risk aversion, with potential spill-over effects towards other countries.
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| Pier Carlo Padoan |
Reform momentum at government level has picked up but progress is uneven, said the European Commission in the Review of progress on policy measures relevant for the correction of macroeconomic imbalances. «Several ambitious reform packages that could represent a step-change still await full adoption or further implementing decrees and outcomes thus remain uncertain». Loooking more in detail, «significant uncertainty surrounds the spending review, which is key for financing important measures in the coming years». The programme is lagging behind initial plans announced in 2013 and a recent change in approach «may lower the quality of the cuts», while the implementation of the privatisation plan in 2014 «has incurred a delay». Furthermore the implementation of the enabling law to reform the tax system is progressing, but «progress in the important areas of tax expenditure revision and environmental taxation is still limited». Italy is doing not well, according to the EU Commission report. Not a good new for the country, since the implementation of structural reforms is crucial to avoid Macroeconomic imbalances procedure (Mip). Italy remains under control, according to the European Commission. «Progress in the coming months will be crucial to evaluate Italy's success in implementing measures to address its imbalances». Looking at the state of play of MIP relevant reforms, Italy still has a lot to do.
Public debt reduction. Italy's very high government debt is an important burden for the economy and a serious source of vulnerability, in particular in the current low growth and inflation context. The large stock of public debt implies substantial refinancing risk and makes the country vulnerable to sudden rises in sovereign yields and financial-market volatility in periods of increased risk aversion, with potential spill-over effects towards other countries.
Saturday, 1 November 2014
bLOGBOOK - Work in progress
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