Frau Bundeskanzerlin

Euro crisis: “If Portugal asks, we will be ready to intervene…”

Pete Baker on March 24, 2011, 6:59 pm

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To the apparent outrage of some, last night Taoiseach Enda Kenny agreed to defer seeking a conclusion to talks on reducing Ireland’s bail-out interest rate at the two-day EU summit in Brussels. At the IIEA blog, Karl Whelan argued After a lot of fighting talk about renegotiation during the recent election campaign, the new Irish leader Enda Kenny probably feels a certain amount of pressure to come home from this summit with a deal on the interest rate. My advice, for what …

“The result is a crisis in European democracy”

Pete Baker on March 14, 2011, 4:06 pm

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On the back of a survey of more than 5,000 people of working age in the UK, Germany, France, Poland and Spain, the Guardian editorialises on the future of the EU. They’re promising a month long series of articles mapping out the social, political and economic terrain. From the Guardian editorial The poll we publish today is taken from a sample of more than 5,000 people of working age in the five leading EU states – Britain, France, Germany, Spain and …

“Corporation tax is now mentioned as a quid pro quo”

Pete Baker on March 12, 2011, 1:15 pm

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Encouraging noises are one thing, but at the first EU late nighter of Taoiseach Enda Kenny’s tenure the BBC reports some possibly premature tweeting from EU President Herman Van Rompuy. In a message on Twitter, Mr Van Rompuy had initially said: “We have an agreement on the Pact for Euro.” The message was later amended to: “Update from ongoing meeting: Agreement in principle on the Pact for the Euro, but still discussing the other elements of the package.” A pact would …

Euro crisis: “Expect some late nights.”

Pete Baker on March 8, 2011, 11:35 pm

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More encouraging noises for the incoming Taoiseach from the European Union’s economic and monetary affairs commissioner, Olli Rehn. As the Irish Times reports “I can see that there is a case to reduce the interest rates paid by Greece and Ireland,” the commissioner said. “In that context, it is important that we also look at loan maturities so that we can go beyond the hump of 2014 and 2015 and that also contributes to debt sustainability . . . The essential …

Rehn: “I expect this issue of pricing policy will be looked at from the overall European perspective…”

Pete Baker on February 28, 2011, 2:43 pm

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The European Union’s economic and monetary affairs commissioner, Olli Rehn, has been making somewhat encouraging noises [for the new Irish government] ahead of a series of key European meetings for the incoming Taoiseach. From the Irish Times breaking news report “We look forward to continue supporting the Irish people and the next Irish government in the implementation of the EU- IMF program, which is key for Ireland’s economy and its revival,” Mr Rehn told reporters in Brussels. “We have the common …

“To say Ireland is cornered might be to understate the situation.”

Pete Baker on February 5, 2011, 4:38 pm

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No agreement emerged on the details of Germany and France’s proposed “pact for competitiveness” for the eurozone at yesterday’s EU Council meeting. The Irish Times reports “a swathe” of opposition expressed at the meeting, while The Guardian editorialises against the German model – but accepts that the eurozone’s “economic rules do need an overhaul”. The EU Council press release is brief on the topic The economic situation The EU leaders discussed the economic situation in Europe and the eurozone. President Van …