GEAB Summer Special Edition on Brexit will be released in a few days
In the interests of intellectual honesty and mutual education, a GEAB special edition will come out in the following days, giving an overview of chapters and articles which have addressed issues related to the British referendum in our previous bulletins. Even if our team has not always made the theoretical assumption that the "Bremain" would win in its analysis of the practical consequences of the referendum, we must still accept and explain briefly the error in our anticipation. Make sure you have your GEAB access codes available! (GEAB subscription page)
In the interests of intellectual honesty and mutual education, a GEAB special edition will come out in the following days, giving an overview of chapters and articles which have addressed issues related to the British referendum in our previous bulletins. Even if our team has not always made the theoretical assumption that the "Bremain" would win in its analysis of the practical consequences of the referendum, we must still accept and explain briefly the error in our anticipation. Make sure you have your GEAB access codes available! (GEAB subscription page)
EuroBRICS Youth Platform and LEAP in Shangai for the Youth Innovation Competition on Global Governance 2016
Marie-Hélène Caillol, President of LEAP and some members of our Euro-BRICS Youth Platform are currently in Shangai for the Youth Innovation Competition on Global Governance (YICGG). The event is being hosted by the University of Fudan and Mrs Caillol has been invited as member of the jury. The YICGG2016 aims at gathering information about outstanding youths from all over the world and inject new vitality into the global governance in the framework of the United Nations’ 2030 development agenda... (LEAP)
Marie-Hélène Caillol, President of LEAP and some members of our Euro-BRICS Youth Platform are currently in Shangai for the Youth Innovation Competition on Global Governance (YICGG). The event is being hosted by the University of Fudan and Mrs Caillol has been invited as member of the jury. The YICGG2016 aims at gathering information about outstanding youths from all over the world and inject new vitality into the global governance in the framework of the United Nations’ 2030 development agenda... (LEAP)
Vicenza: dark heart of Italy's banking crisis where locals have lost millions
From a distance, Vicenza does not look like a city engulfed in turmoil. On the elegant Corso Andrea Palladio, named after the Renaissance architect whose work defines this city, a finely dressed woman clutches a Chanel handbag during her evening passeggiata. Locals sit back and enjoy their Campari spritz cocktails in the July heat. A black Maserati rolls slowly down the street... (The Guardian)
From a distance, Vicenza does not look like a city engulfed in turmoil. On the elegant Corso Andrea Palladio, named after the Renaissance architect whose work defines this city, a finely dressed woman clutches a Chanel handbag during her evening passeggiata. Locals sit back and enjoy their Campari spritz cocktails in the July heat. A black Maserati rolls slowly down the street... (The Guardian)
Can the World Deal With a New Bank Crisis?
As Europe braces for the release of its bank stress tests on Friday, the world could be on the verge of another banking crisis. The signs are obvious to all. The World Bank estimates the ratio of non-performing loans to total gross loans in 2015 reached 4.3 percent. Before the 2009 global financial crisis, they stood at 4.2 percent... (Bloomberg)
As Europe braces for the release of its bank stress tests on Friday, the world could be on the verge of another banking crisis. The signs are obvious to all. The World Bank estimates the ratio of non-performing loans to total gross loans in 2015 reached 4.3 percent. Before the 2009 global financial crisis, they stood at 4.2 percent... (Bloomberg)
New legislation proposes to “bail in” Social Security
It was only a few weeks ago that I told you about the government’s annual report on Social Security. It was a veritable death sentence for the program. The Board of Trustees for Social Security (which includes the US Treasury Secretary) wrote that major parts of the program have already run out of money, and the rest of Social Security will run out of money in the next decade... (Sovereignman.com)
It was only a few weeks ago that I told you about the government’s annual report on Social Security. It was a veritable death sentence for the program. The Board of Trustees for Social Security (which includes the US Treasury Secretary) wrote that major parts of the program have already run out of money, and the rest of Social Security will run out of money in the next decade... (Sovereignman.com)
A former French minister will lead post-Brexit negotiations between the EU and Britain
European Commission President Jean-Claude Juncker appointed Michel Barnier, a former commissioner and an ex-minister, to lead negotiations to form a new relationship with Britain after it leaves the European Union. Barnier, a center-right politician who has been France's foreign minister and minister for agriculture, will take up his post on October 1... (Business Insider)
European Commission President Jean-Claude Juncker appointed Michel Barnier, a former commissioner and an ex-minister, to lead negotiations to form a new relationship with Britain after it leaves the European Union. Barnier, a center-right politician who has been France's foreign minister and minister for agriculture, will take up his post on October 1... (Business Insider)
Euroscepticism: The EU's new normal
If euroscepticism was just a British disease and the UK voting to leave the Union on 23 June was the solution – as Liberation correspondent Jean Quatremer suggested in a recent article – then the EU’s dwindling band of cheerleaders could sleep comfortably in the knowledge that the anti-European contagion was containable. Unfortunately for them, British hostility towards the EU has already spread across a continent where euroscepticism is now the new normal... (EUObserver)
If euroscepticism was just a British disease and the UK voting to leave the Union on 23 June was the solution – as Liberation correspondent Jean Quatremer suggested in a recent article – then the EU’s dwindling band of cheerleaders could sleep comfortably in the knowledge that the anti-European contagion was containable. Unfortunately for them, British hostility towards the EU has already spread across a continent where euroscepticism is now the new normal... (EUObserver)
No Brexit talks for several months, EU’s Jean-Claude Juncker concedes
Britain will need months of preparation before Brexit talks can start, EU Commission President Jean-Claude Juncker said on Monday, chiding the government in London for not preparing better for the possibility of a ‘Leave’ vote... (Economic Times)
Britain will need months of preparation before Brexit talks can start, EU Commission President Jean-Claude Juncker said on Monday, chiding the government in London for not preparing better for the possibility of a ‘Leave’ vote... (Economic Times)
Oil steadies just above three-month lows on oversupply
Oil prices steadied just above three-month lows on Thursday as producers continued to pump more than needed, filling inventories, and economic growth prospects darkened. Brent crude oil LCOc1 was unchanged at $43.47 a barrel by 1215 GMT, after touching $42.88, its lowest since April 20. U.S. light crude CLc1 was up 20 cents at $42.12. U.S. government data on Wednesday showed a surprise rise in crude and gasoline inventories. The build added to an already huge global refined product glut just as slowing economic growth dents the demand outlook.. (Reuters)
Oil prices steadied just above three-month lows on Thursday as producers continued to pump more than needed, filling inventories, and economic growth prospects darkened. Brent crude oil LCOc1 was unchanged at $43.47 a barrel by 1215 GMT, after touching $42.88, its lowest since April 20. U.S. light crude CLc1 was up 20 cents at $42.12. U.S. government data on Wednesday showed a surprise rise in crude and gasoline inventories. The build added to an already huge global refined product glut just as slowing economic growth dents the demand outlook.. (Reuters)
Michael Bloomberg just summed up the election in one sentence
"Together, let's elect a sane, competent person." It's not a soaring campaign slogan, but it's the strongest argument for voting for Hillary Clinton — and it brought laughs and cheers when Michael Bloomberg said it at the Democratic National Convention on Wednesday night. This is the most important election of my lifetime, and also the strangest, because one candidate clears basic bars of sanity and competence and the other does not... (Business Insider)
"Together, let's elect a sane, competent person." It's not a soaring campaign slogan, but it's the strongest argument for voting for Hillary Clinton — and it brought laughs and cheers when Michael Bloomberg said it at the Democratic National Convention on Wednesday night. This is the most important election of my lifetime, and also the strangest, because one candidate clears basic bars of sanity and competence and the other does not... (Business Insider)
Hollande embarks on tour to push for European ‘army’
French President François Hollande visited Portugal on Tuesday (19 July) and will stop over in Ireland on Thursday (21 July) in an attempt to reinforce the foundations of the EU, including fostering increased defence cooperation, following the terrorist attack in Nice last week.EurActiv France reports. François Hollande has had to cut short his planned European tour after the terrorist attack carried out in Nice during Bastille day celebrations last Thursday (14 July)... (Euractiv)
French President François Hollande visited Portugal on Tuesday (19 July) and will stop over in Ireland on Thursday (21 July) in an attempt to reinforce the foundations of the EU, including fostering increased defence cooperation, following the terrorist attack in Nice last week.EurActiv France reports. François Hollande has had to cut short his planned European tour after the terrorist attack carried out in Nice during Bastille day celebrations last Thursday (14 July)... (Euractiv)
Murder of French priest opens a new frontier for Catholic church
Every year, the Vatican’s Agenzia Fides, which tracks the work of Catholic missionaries around the world, releases a grim list of how many of its own have been killed while serving the church. Last year, 13 priests were among the dead, most of whom were killed in the course of violent robberies, and nearly 400 church-affiliated workers have been murdered since 2000... (The Guardian)
Every year, the Vatican’s Agenzia Fides, which tracks the work of Catholic missionaries around the world, releases a grim list of how many of its own have been killed while serving the church. Last year, 13 priests were among the dead, most of whom were killed in the course of violent robberies, and nearly 400 church-affiliated workers have been murdered since 2000... (The Guardian)
EU-Turkey relations after the coup
The pro-democracy stance that contrasted the recent tentative coup in Turkey has dealt a significant blow to a long tradition of military tutelage and interventions in politics, and pushed away the danger of Turkey’s drifting along the pathway leading to a Syrian-style civil war, at least for now. This show of national unity in defence of democracy is unprecedented in Turkey’s history and, if used well by all players, could still constitute a basis to overcome the polarisation and divisiveness which characterise both Turkish politics and society and to create a more inclusive democratic regime... (EUobserver)
The pro-democracy stance that contrasted the recent tentative coup in Turkey has dealt a significant blow to a long tradition of military tutelage and interventions in politics, and pushed away the danger of Turkey’s drifting along the pathway leading to a Syrian-style civil war, at least for now. This show of national unity in defence of democracy is unprecedented in Turkey’s history and, if used well by all players, could still constitute a basis to overcome the polarisation and divisiveness which characterise both Turkish politics and society and to create a more inclusive democratic regime... (EUobserver)
Merkel: attacks by asylum seekers 'mock' Germany
German Chancellor Angela Merkel faces the press after keeping a fairly low profile amid several attacks in Germany. She said that asylum seekers who commit attacks "mock" the country that welcomed them. Merkel broke off her summer holiday to address reporters in Berlin on Thursday and began by clarifying her stance on the issue of refugees in Germany. (Deutsche Welle)
German Chancellor Angela Merkel faces the press after keeping a fairly low profile amid several attacks in Germany. She said that asylum seekers who commit attacks "mock" the country that welcomed them. Merkel broke off her summer holiday to address reporters in Berlin on Thursday and began by clarifying her stance on the issue of refugees in Germany. (Deutsche Welle)
Beijing slaps Japan, EU with steel duties
China on Sunday said it has started imposing anti-dumping tariffs on certain steel imports from the European Union, Japan and South Korea, as Beijing itself comes under fire for similar trade practices. Duties on the materials, used in power transformers and electric motors, will range from around 37 to as high as 46.3 per cent, the commerce ministry said on its website... (Business Standard)
China on Sunday said it has started imposing anti-dumping tariffs on certain steel imports from the European Union, Japan and South Korea, as Beijing itself comes under fire for similar trade practices. Duties on the materials, used in power transformers and electric motors, will range from around 37 to as high as 46.3 per cent, the commerce ministry said on its website... (Business Standard)
Decoding Abenomics
At just three years of age, Japan's economic experiment is having a bit of a midlife crisis. The spring of 2013 -- when the central bank embarked on an unprecedentedly bold monetary easing program, the yen weakened past 100 to the dollar for the first time in four years, Toyota's per-share earnings tripled and Triumph International launched an "Abenomics" line of bra -- has long gone... (Bloomberg)
At just three years of age, Japan's economic experiment is having a bit of a midlife crisis. The spring of 2013 -- when the central bank embarked on an unprecedentedly bold monetary easing program, the yen weakened past 100 to the dollar for the first time in four years, Toyota's per-share earnings tripled and Triumph International launched an "Abenomics" line of bra -- has long gone... (Bloomberg)
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