Föhrenbergkreis Finanzwirtschaft

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Posts Tagged ‘Summit’

Next steps after the Euro Summit

Posted by hkarner - 16. Juli 2018

Agnès Bénassy-Quéré, Markus K Brunnermeier, Henrik Enderlein, Emmanuel Farhi, Marcel Fratzscher, Clemens Fuest, Pierre-Olivier Gourinchas, Philippe Martin, Jean Pisani-Ferry, Hélène Rey, Isabel Schnabel, Nicolas Véron, Beatrice Weder di Mauro, Jeromin Zettelmeyer 10 July 2018, vox.eu


This column is a lead commentary in the VoxEU Debate „Euro Area Reform


The outcome of the Euro Summit of 29 June regarding the reforms of the euro area’s architecture disappointed observers who had hoped it would provide decisions along the lines of the Meseberg declaration by German Chancellor Angela Merkel and French President Emanuel Macron. Yet the statement is a constructive first step and has substantial symbolic value as it crosses red lines that were considered taboos only a few months ago. It is important to use this momentum to finalise the promised reforms as well as to break further taboos in order to move towards a stable monetary union.

Despite the summit statement’s brevity, there are several positive elements. Europe’s political leaders seem to have understood that fixing the euro area’s banking system remains a high priority – most of the statement is devoted to this. The firm commitment to a backstop from the European Stability Mechanism (ESM) for bank crisis resolution is an important stabilising element. Given the strong opposition in Germany, the explicit reference to a European Deposit Insurance Scheme (EDIS) after a sufficient reduction of legacy risks in banks, made for the first time ever at the Leaders’ level, breaks an important taboo and is a step in the right direction of both risk reduction and risk sharing. Den Rest des Beitrags lesen »

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EU Leaders Reach Migration Deal, Giving Merkel Respite at Home

Posted by hkarner - 30. Juni 2018

Date: 29-06-2018
Source: The Wall Street Journal

A migration deal patched together by European Union leaders early Friday appeared to have won German Chancellor Angela Merkel a respite in the toughest battle of her political career.

EU leaders after nine hours of negotiations agreed to help coastline countries, notably Italy, by redistributing some of the migrants rescued in the Mediterranean, provided they are placed in detention.

In parallel, the EU said it would seek to set up reception centers in North African countries where most migrants rescued at sea would be sent back to. Those centers, called “disembarkation platforms,” will be run together with United Nations agencies that will ensure that people are housed in humane conditions while awaiting repatriation or resettlement to European countries. Den Rest des Beitrags lesen »

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The Greek „Waterboarding Document“ in Full

Posted by hkarner - 13. Juli 2015

The shame of last nights decisions has just been published:

Greece EZ Decision 13_7_15Read the full document: 20150712-eurosummit-statement-greece

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