Föhrenbergkreis Finanzwirtschaft

Unkonventionelle Lösungen für eine zukunftsfähige Gesellschaft

Posts Tagged ‘Europe’

Germany’s Merkel Reaches Out to EU Members Over Immigration Dispute

Posted by hkarner - 19. Juni 2018

Date: 18-06-2018
Source: The Wall Street Journal

The German chancellor sounds out other countries’ willingness to readmit migrants

German Chancellor Angela Merkel has been reaching out to her European neighbors this weekend ahead of a Monday deadline to defuse an immigration dispute.

BERLIN—German Chancellor Angela Merkel turned to her European neighbors this weekend for help with a fierce domestic dispute over immigration that is threatening to topple her three-party coalition.

Aides to the chancellor reached out to the governments of several European Union members on the front line of the Continent’s immigration crisis to sound out their willingness to readmit migrants that try to cross from their territory into Germany, European officials said on Sunday.

Among those approached were the governments of Austria, Greece, Italy and Bulgaria, the officials said. Berlin also liaised with the European Commission, the EU’s executive body.

Ms. Merkel’s move came after her own interior minister, Horst Seehofer, handed the chancellor an ultimatum last week, warning that he could close the country’s borders to certain categories of illegal migrants as early as Monday. Den Rest des Beitrags lesen »

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Can refugees help to plug Europe’s skilled-labour gaps?

Posted by hkarner - 17. Juni 2018

Date: 14-06-2018
Source: The Economist

Employing migrants in Germany and Sweden

THE canteen of Stockholm University could scarcely be more Swedish. Young blond students sip coffee and tap away on Macs. In room 3.89, an outpost of the campus, is another, newer Sweden. Refugees, all of them teachers, from lands far to the south and east are preparing for the classrooms of their new home. Several keep their coats on as Khadije Obeid takes them through the basics of the curriculum and shows a YouTube clip about education law. “In Syria the teacher has much authority,” says Samer, an English teacher, as he raises his hand above his head. “Here he is equal to the students,” he adds as he lowers it.

The ten women and seven men are on a “fast-track” programme for refugees with experience in occupations where labour is short. As well as learning Swedish, they get 26 weeks of daily classes, teaching practice and mentoring. The hope is that they will then train or, if their previous qualifications are recognised, go straight to the classroom. The government is running some 30 other programmes, for builders, chefs, medics and more; 5,300 people were enrolled in 2016 and 2017, of whom around 1,000 were in the teachers’ scheme. Within two years most fast-trackers are employed. Den Rest des Beitrags lesen »

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Europe struggles to respond to Mr Trump

Posted by hkarner - 17. Juni 2018

Date: 14-06-2018
Source: The Economist: Charlemagne

To uphold its cherished rules, Europe must learn when to bend them

YOU can’t fault them for trying. Discussing trade at last week’s disastrous G7 summit in Quebec, Europe’s leaders met Donald Trump’s volley of insults and half-truths with a fusillade of facts. Emmanuel Macron explained how market access works. Angela Merkel brought up America’s procurement rules. Thrown off-guard, Mr Trump responded by suggesting that the G7 should transform itself into a tariff- and subsidy-free zone. The fact that this would involve submitting to the rules and institutions he has built his political identity opposing was not lost on the president’s European friends. A better illustration of the transatlantic gulf would be hard to find.

The past few months have been especially rough for Europe’s relations with America, as Mr Trump first withdrew from the nuclear deal with Iran and then slapped tariffs on aluminium and steel imports. But the confrontation in Canada had a scales-from-the-eyes feeling to it. The United States is “saying goodbye” to the West, lamented Germany’s ambassador. One European official says his colleagues returned from the summit looking as if they had stuck their hands in a toaster. Den Rest des Beitrags lesen »

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The Ultimate Démarche: France Wants to Oust English From the EU

Posted by hkarner - 15. Juni 2018

Date: 14-06-2018
Source: The Wall Street Journal

Prompted by Brexit, French President Emmanuel Macron wants to restore his language, the way it was before Britain joined

BRUSSELS—As if the European Union didn’t have enough to worry about, now it’s at odds over what should be its dominant language.

The Ultimate Démarche: France Wants to Oust English From the EU

The French president, Emmanuel Macron, wants to make French grand again and replace English as the default language in EU institutions, the way it was before Britain joined the bloc in 1973. With the U.K. negotiating to leave the EU next spring, he is eager to restore the linguistic ancien regime.

“English has probably never been so present in Brussels as when we’re talking about Brexit,” Mr. Macron said in March on the Day of Francophonie—a celebration of French language and culture observed in more than 70 countries. “This domination is not inevitable,” he declared. Den Rest des Beitrags lesen »

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What „America First“ Will Cost Europe

Posted by hkarner - 14. Juni 2018

Date: 12-06-2018
Source: Foreign Affairs By Jeremy Shapiro

Could Trump’s Neglect Undo the EU?

The new U.S. ambassador to Germany, Richard Grenell, is quickly becoming Europe’s favorite bête noire. He seems to share his boss’ uncanny ability to offend people with a potent combination of professional incompetence and personal arrogance. Within hours of taking up his post in early May, he had tweeted out a demand that Europeans disinvest from Iran, essentially commanding his hosts to heed President Donald Trump’s decision to end the Iranian nuclear deal. Then last week, he gave an interview with Breitbart, a right-wing website that operates in both Europe and the United States, announcing his intention to “empower” conservative parties within Europe. The message to the German government was clear: the new U.S. ambassador intended to back its domestic political opponents.

In combination with a disastrously divisive G-7 meeting last week, these remarks have rekindled fears in Europe that the Trump administration will seek to stoke the populist wave that is shaking European politics. European establishment politicians fear that the United States’ support for their illiberal opponents will give these groups ever more strength in their struggles against Brussels. But the problem for Europe is not an American campaign to empower European populists; it is that the United States no longer sees the value in having a strategic vision for Europe at all.

AMERICA THE SELF-INTERESTED Den Rest des Beitrags lesen »

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Ignore your instincts: A case for owning euro-zone shares

Posted by hkarner - 11. Juni 2018

Date: 07-06-2018
Source: The Economist: Buttonwood

The contrarian wisdom of George Costanza

IN AN episode of “Seinfeld”, a 1990s television comedy, George Costanza, a serial failure played by Jason Alexander, decides that every instinct he has is wrong. So he resolves to do the opposite. He is soon squiring a new girlfriend and is up for a dream job. “It’s all happening because I’m completely ignoring every urge towards common sense and good judgment I’ve ever had,” he says.

Success in investing often means going against the grain—and your own feelings. To do otherwise is to be swept along by the general greed and fear. Still, fear is a useful emotion. It would be unwise, for instance, to ignore the recent turmoil in Italy, where bond yields spiked in response to concerns that the country might be on the road to leaving the euro. Though the worst fears have subsided, the coalition that was eventually given the president’s blessing to form a government looks capable of causing trouble. Den Rest des Beitrags lesen »

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Trapped in the Past: Increasing Headwinds for Angela Merkel

Posted by hkarner - 10. Juni 2018

Date: 09-06-2018
Source: DER SPIEGEL

Just a few months ago, German Chancellor Angela Merkel was being described as the new leader of the free world. But recently she has been having trouble getting her way even in Berlin and Europe. Her days of dominance appear to be over.

The meeting was so urgent the ministers even skipped the Social Democrats‘ traditional asparagus feast at Berlin’s Wannsee lake. Shortly before 8 p.m., Finance Minister Olaf Scholz and Foreign Minister Heiko Maas, both from the center-left Social Democratic Party (SPD), arrived at the Chancellery. Chancellor Angela Merkel had called the secret meeting to speak with leaders of her coalition government about the state of the world.

For more than four hours, Merkel conferred with Scholz, Maas, Interior Minister Horst Seehofer and Defense Minister Ursula von der Leyen. To begin the session, participants reported on their most recent trips abroad: Maas described his journey to Ukraine and Moscow, Scholz spoke of the G-7 finance minister meeting in Canada and Merkel reported on her meeting with Russian President Vladimir Putin in Sochi and Chinese President Xi Jinping in Beijing. Den Rest des Beitrags lesen »

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Angela Merkel gives a distinctly limited response to Emmanuel Macron’s plans for euro-zone reform

Posted by hkarner - 8. Juni 2018

Date: 07-06-2018
Source: The Economist: Charlemagne

And that is (probably) as far as she will go

WHEN it came, it was everything and nothing at the same time. For over half a year Emmanuel Macron, France’s president, waited for a German response to the grand ideas for Europe’s future he had laid out at the Sorbonne last September. Governments rose and fell while Mr Macron drummed his fingers; the transatlantic bond stretched, and came close to snapping. When Angela Merkel finally gave her answer, on June 3rd, it came not in a big speech or a government statement, but in an interview with the Frankfurter Allgemeine Sonntagszeitung (FAS), a conservative broadsheet. How very like the German chancellor.

The responses to Mrs Merkel’s interview were like descriptions of the same object viewed through opposite ends of a telescope. For those sympathetic to French ambitions, the chancellor’s offers were weak, offering only baby steps towards the strengthened euro zone Mr Macron urges, constrained by the same old German red lines about rules and risk. Others were excited by what appeared to be the start of a genuine conversation, after months of waffle and delay. Some noted that Mrs Merkel went into considerably more detail than Mr Macron on matters like reform of the euro zone’s bail-out fund. So was this the start of something beautiful, or a great big German nothingburger? Den Rest des Beitrags lesen »

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The Fall and Rise of Matteo Salvini

Posted by hkarner - 7. Juni 2018

Date: 06-06-2018
Source: Foreign Affairs By Erik Jones

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The Lega Leader Will Make or Break Italy

A week is a long time in politics, particularly when the fate of a country hangs on the ambitions of a single individual in the way that Italy’s fate now hangs on those of Lega leader (and now Interior Minister) Matteo Salvini. The week started with the collapse of a governing coalition between two populist parties, Lega and the Five Star Movement (M5S), and ended with essentially that same government swearing the oath of office. There were many bit players in the drama, but Salvini was the protagonist. The takeaway is simple: this government will last only so long as Salvini has his way.

MUSICAL CHAIRS

The drama began on Sunday, May 27, when Salvini pulled the plug on a coalition government between Lega and M5S. Salvini was insulted by the unwillingness of Italy’s president, Sergio Mattarella, to appoint the Euroskeptic economist Paolo Savona as minister of economy and finance. With his strength in the polls rising, Salvini declared himself ready to face new elections. Rather than allow anyone else to take the economics and finance portfolio, Salvini would rather campaign for a larger presence in parliament.

Mattarella had good reasons to reject Savona, which he explained at length to the Italian people. Although a well-known economist with solid experience in politics and government, Savona is not a member of either Lega or M5S. Since the economy and finance minister will have to decide how to balance the government’s resources, he should have his own political power base or else he will lack autonomy. Moreover, Savona has taken positions on Italy’s membership in the euro—he has called the currency a “German cage” and suggested making contingency plans for exiting it—that are likely to scare international investors. Mattarella argued that he had a responsibility not to unnecessarily put the wealth and savings of ordinary Italians at risk—Savona was too much of a gamble. When Mattarella rejected him, Salvini pulled the plug on the whole government. Den Rest des Beitrags lesen »

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It’s high time for a two speed Europe

Posted by hkarner - 7. Juni 2018

Date: 05-06-2018
Source: The Wall Street Journal
Subject: Italy’s Euroskeptic Agenda Reflects Weakening Public Support for the EU

In his inaugural speech, Prime Minister Giuseppe Conte says his government will challenge eurozone rules

ROME—Italy’s new government is laying the groundwork to challenge Europe’s financial orthodoxy and immigration rules, setting out a euroskeptic policy agenda in a country where public frustration with the European Union has supplanted once-broad support.

In his inaugural speech to Parliament on Tuesday, Prime Minister Giuseppe Conte said his government would push for a change of the rules underpinning the eurozone to spur growth and cut the country’s massive debt, which he said austerity policies helped worsen.

“A new wind” is blowing in Italy, said Mr. Conte, who heads a government supported by the maverick 5 Star Movement and the hard-right League, which have come out strongly against the eurozone’s limits on public spending. Den Rest des Beitrags lesen »

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