German taxpayers say "Nein" to bailing out Ireland
20 July 2009
Open Europe's new survey of German voters, which found that 70 percent are against bailing out other struggling EU economies, such as Ireland, was reported in the Irish edition of the Sun on Saturday, and in the Irish Times.
Open Europe’s
“In particular, there have been suggestions that
Wolfgang Muller, of the Institute for Free Enterprise in
The article noted that a German bailout operation of other eurozone countries could cost the German taxpayer up to €1.5 billion per year. The poll was also covered on Mary Ellen Synon's Mail blog.
Irish Times Mail: Synon blog Open Europe press release OE press release in German
George Osborne: “There is a none too subtle agenda by some other member states to get a share of
PA reports that David Cameron has announced a series of proposals to shake up banking regulation, including a plan to scrap the Financial Services Authority. Among the Conservatives’ plans include the creation of a new senior post within the Treasury for a minister with responsibility for European financial regulation, fighting
The Spectator’s Coffee House blog notes that, “The message, at least, is that the Tories won't abide EU financial directives which could harm the British financial industry's growth and competitiveness. To that end, they pledge to ‘enhance’ the Treasury team that does business in
In an interview with the FT, Shadow Chancellor George Osborne said that many of the EU proposals for financial regulation are “ill-conceived, and badly drafted”, adding that, “I think the hedge fund directive, the alternative investment directive, is a case in point. I think that is immensely damaging, without actually protecting the European consumer, or the European taxpayer.”
Referring to Commission proposals for tighter European financial supervision, Osborne said he thinks that “you should have European coordination of national regulation. So, just as there is international coordination of national regulation, I am against an executive pan-European regulator with executive powers to pose any regulatory answers.”
He added, “There is a none too subtle agenda by some other member states to get a share of
Meanwhile, the Weekend FT reported that German Chancellor Angela Merkel has blamed US and
WSJ Guardian Spectator: Coffee House blog FT: Osborne Interview Independent on Sunday Open Europe press release Times: Letters Weekend FT
BVCA estimates EU AIFM disclosure rules could cost £30,000 per company
The Independent on Sunday reported that the Financial Services Authority and the Government have set up seven groups to scrutinise burdensome aspects of the European Commission's directive to regulate hedge funds and private equity. Their recommendations will be pooled over the next few weeks and handed to the Commission. One of the major concerns is over disclosure of company investments. Any private-equity or hedge fund that has €500m (£430m) in funds under management must report detailed information on any of their portfolio companies that turn over at least €50m.
The British Venture Capital Association (BVCA) has estimated that there are 10,000 British companies that have a €50m-plus turnover, about 1,000 of which are private-equity owned. It believes that the cost of disclosure could be £30,000 per company, and is unnecessary because private equity already has its own, albeit lighter, code in the
Peter Oborne challenges Cameron to speak out against Blair candidacy for EU President
Open
In the Independent on Sunday, John Rentoul argued that the position of EU President is "in one sense... a ridiculous post," noting that the choice will not be made by the peoples of
Meanwhile, in Saturday's Mail, Peter Oborne noted that while Shadow Foreign Secretary William Hague has spoken out against the idea of Blair becoming EU President, David Cameron has not expressed opposition "and remains highly unlikely to do so". He reported that Cameron's colleagues argue that a Blair presidency would be good for Britain, and, moreover, that "Tory strategists believe they stand a better chance in the next General Election if Labour didn't harness Blair's campaigning skills, and, instead, he concentrated on his European ambitions." However, Oborne called on Cameron to "fulfil his responsibility to a wider sense of public decency and halt Blair in his tracks."
Wolfgang Münchau, in an opinion piece for the FT, says that Blair’s chances are better than people think, saying that French President Nicolas Sarkozy is still likely to back him, along with Italian PM Berlusconi, and Spanish PM Jose Luis Zapatero. He notes that although there are “dissenters”, Blair only needs a qualified majority under the Lisbon Treaty. Münchau questions Blair’s ability for the job, saying that he would not have coped with the financial crisis last year and asking “would Mr Blair have really stood up against the eruption of nationalism or would he have accentuated the divisions?”
Mail Independent on Sunday: Rentoul Sunday Herald Wolfgang Münchau: FT columnist Guido fawkes El Mundo
Irish EU officials join campaign to promote EU in Irish schools
Saturday's Irish Times reported that Irish officials in the EU Commission are taking part in the EU's “Back to School” programme. The Commission website says "Six hundred European officials return to their old school this year. The idea is to 'give
Columnist Miriam Lord noted, "Co-incidentally, when the 80 or so Irish officials return to the schools, the
Commission press release Irish Times
Irish activist says
In an article in Saturday's Irish Times, John Goodwillie, a former Green Party candidate and former secretary of the Irish Campaign for Nuclear Disarmament, argued that
At the weekend, the Irish Green Party voted in favour of the Lisbon Treaty by the smallest possible margin. The Irish Times reports that the party will campaign "vigorously" ahead of the referendum on 2 October.
Brian Cowen: If Irish don’t ratify
In an interview with El Pais, Irish Prime Minister Brian Cowen said “We will win the referendum”. When asked how the government would react if the Irish vote ‘No’ again, he responded saying, “It is something that neither we (the Irish government) nor other member states are contemplating”, adding that if this did occur it would be necessary to proceed in accordance with the Nice Treaty but “replace it with a more efficient method of decision making”. He added that not ratifying the Treaty in the referendum had “very important consequences”.
The interviewer repeated that Cowen had said he would not resign if the Irish vote ‘No’ again, but that this is “very difficult to believe”, to which Cowen responded “Thanks a lot! I am not thinking about failure. We will win”.
Meanwhile, in an interview with El Mundo, EU Commissioner Joaquin Almunia has claimed it is “not very democratic” to hold referendums on EU treaties. A headline in the paper reads, "Only MPs should vote on the European Constitution".
EU seeks access to sensitive bank account data for anti-terrorism operations
Handelsblatt reports that the EU wants to have access to sensitive bank account data, which is being kept by SWIFT, a central financial messaging network centre based in
Handelsblatt EU Observer European Voice EDPS
New report says EU’s carbon emissions trading system is “seriously flawed”
The Guardian reports that a new study by campaign group Sandbag has described the EU’s Emissions Trading Scheme (ETS), which is at the heart of the low-carbon plan announced by the Government last week, as critically flawed. The ETS covers 50% of the
The report found that the large number of carbon permits that have been allocated and a fall in emissions due to the recession, have made the trading system less effective because the ‘price’ of emitting carbon is not high enough. The study has found that these so-called ‘hot-air’ carbon credits could be sold as windfall profits, raising £5bn at current prices, or banked for the next period, depressing the future price.
The ETS price for a tonne of CO2 at the close of the market on Friday was €14. To make it economical for generators to switch from coal to less-polluting gas for electricity production requires a carbon price of around €25, while carbon capture and storage technology needs a price of €40-€50 a tonne to be worth investing in. The EU is expected to call on other countries to develop similar models to the ETS at December’s UN climate change conference in
Guardian Sandbag.org Open Europe research
Sarkozy in “extraordinary” u-turn on fishing quotas
The Coulisses de Bruxelles blog reports that French President Nicolas Sarkozy has completely changed his opinion on fishing quotas. Whereas previously Sarkozy had argued against quotas, he is now supporting a ban on all fishing of bluefin tuna in the Mediterranean and
In the Sunday Times Charles Clover wrote “What Sarkozy said is extraordinary. It amounts to an admission by a European government that one of the world’s great environmental disasters has been going on in EU waters as a result of illegal and uncontrolled fishing by the Mediterranean nations and
Coulisses de Bruxelles Sunday Times
BNP to use EU taxpayers' money to fund “community chest”
The Telegraph reports that BNP MEPs Nick Griffin and Andrew Brons have said that they will “skim off part of their expenses and salaries” to finance a party-controlled “community chest”. Mr Griffin and Mr Brons have said that they will put 10% of their annual salary into this constituency fund. Mr Griffin commented, “When we’ve got money left over, we’re putting it back into our constituencies. We’ve pledged to do so, and we will do so”.
According to the EU Parliament’s rules, MEPs are only allowed to spend their allowances on their offices, staff, food, accommodation and travel. A spokesman for the Parliament has said, “That would not be allowed. The rules are quite clear. Allowances can not be used for things that are not set out in the guidance”.
Euractiv reports that
German MEP speaks out against Icelandic EU membership bid
EUobserver reports that centre-right politicians from
The article notes that having taken on most EU legislation through being a member of the European Economic Area and the Schengen area, actual negotiations with
An article in Expressen notes that if a deal protecting the fishery industry can be agreed with
Irish Times El Mundo Coulisses de Bruxelles Irish Times Independent Monde Euractiv EUobserver EUobserver 2 El Mundo IHT Sueddeutsche AFP EU Observer Welt Liberation
Saturday's Irish Times reported on a new website and petition created to persuade Declan Ganley to remain involved in Irish political life and the debate on the
The Sunday Telegraph reports that Tory MEP Mr McMillan-Scott has predicted that the new alliance between the Conservatives and the Polish Law and Justice Party will fall apart. Mr McMillan-Scott had the whip withdrawn by the Conservative party for insulting the leader of the Polish party, accusing him of being a racist.
Welt Online quoted German Chancellor Angela Merkel commenting on the battle for the most important posts within the EU Commission: “Economically oriented areas such as Competition, Single Market or Industry are most interesting for us”.
ABC reports that Spanish Prime Minister Jose Luis Zapatero will propose using the European Social Fund for a new €420 a month subsidy for unemployed people who have exhausted all their benefits. This will apparently be financed using the 2009 and 2010 allocated funding.
The WSJ reports that the European Cockpit Association, a group of pilots unions with 38,000 members, has warned that EU rules are insufficient to adequately protect against flight safety risks posed by pilot fatigue.
European Voice reports that Romanian MEPs have criticised the EU Commission for its report on corruption and the judicial system in Romania, saying it was “biased and flawed” and that Commission officials should be investigated for “good faith and professionalism”.
A new ComRes survey for the Independent on Sunday showed that the Lib Dems are only one point behind Labour, on 22%. Meanwhile, a YouGov survey for the Sunday Times showed that the Conservatives have moved into their biggest lead over Labour since September, putting them on 42%, compared with Labour's 25%.
Independent on Sunday Sunday Times