After the US House of Representatives’ unexpected rejection of a 700 billion dollar bailout plan, Europe is reappraising the balance of power on the international financial market. Until now Europe has been too reliant on American economic competence, commentators say. Talk now focuses on structural change, new regulatory systems and even a UK accession to the Eurozone.
Top officials from Belgium, the Netherlands, Luxembourg and the EU held emergency meetings over the weekend to prevent bank and insurance giant Fortis from becoming the eurozone’s first major victim of the global financial crisis.
by Charles Grant
Those who never liked ‘Anglo-Saxon’ capitalism are feeling smug. Marxists, fans of ‘Rhineland’ capitalism and those who simply cannot stand American power are crowing. “The US will lose its status as the superpower of the world financial system,” says Peer Steinbruck, Germany’s finance minister. “Self-regulation is finished, laisser faire is finished, the idea of an all powerful market which is always right is finished,” says France’s president, Nicolas Sarkozy. The British academic (and sometime fan of Margaret Thatcher) John Gray proclaims that “in a change as far-reaching in its implications as the fall of the Soviet Union, an entire model of the government and the economy has collapsed.”
EU ministers agree on a plan to curb illegal immigration while easing the rules for highly-skilled workers.
Source: European Commission
From Stockholm to Crete and from Lisbon to Warsaw, 29 agencies provide service, information and know-how to the people of the European Union and beyond. The agencies work within many different fields such as environment,
food safety, transportation, trade marks, education, or fundamental rights.This brochure dedicates a page to each of the agencies, describing their work and giving contact details.
“Don’t buy exotic animal souvenirs.” In Animal souvenirs
The international financial system has been rocked by one of the biggest bank collapses in history. The bankruptcy of Lehman Brothers, the fourth largest US investment bank, led on Monday to dramatic stock market losses across the world. What consequences will the crisis have for European and international financial systems?
LONDON — There is a powerful narrative today about how many young European Muslims are susceptible to terrorism, how Islam leads to radicalization and how Muslims, because of their creed, choose to live in ghettos and therefore create swamps that breed terrorists.
Security guard the Lourdes Sanctuary as Pope Benedict XVI arrives in the Papamobile to celebrate Mass at La Prairie on September 14, 2008 where the pontiff is on a pilgrimage to the shrine where the faithful believe the Virgin Mary appeared to a peasant girl 150 years ago. The 81-year-old Benedict celebrated a Mass for more than 150,000 people on a field in the shadow of the sanctuary built over the cave where Bernadette Soubirous said the Madonna appeared and spoke to her 18 times in 1858.
REUTERS/Regis Duvignau (FRANCE)
Social Democrats shake things up
COALITION governments often make for interesting bedfellows. The union between Germany’s Christan Democrats, the party of Angela Merkel, and the Social Democrats (SPD) should be more entertaining to watch after a weekend shake-up of the latter in which the current foreign minister, Frank-Walter Steinmeier, was chosen as the SPD’s candidate to face Mrs Merkel in national elections next year.
Next Wednesday, scientists at the European Organization for Nuclear Research in Switzerland will switch on the $6 billion Large Hadron Collider, a 27-kilometer particle accelerator that will create physical conditions that haven’t existed in the universe since the big bang. It all sounds totally awesome, unless you’re one of the very few people who think that the LHC will create a black hole that will expand to consume the planet. In World probably will not end next Wednesday
Accompanied by EU foreign policy chief Javier Solana and Commission President José Manuel Barroso, French President Nicolas Sarkozy is in Moscow today (8 September) before heading to Tbilisi this evening to discuss the implementation of the peace plan he brokered at the outbreak of the Russia-Georgia conflict a month ago.
Good news for fascists today – according to the EU, it’s no longer racist to target a particular ethnic group based on folklore that suggests they’re all criminals.
Leonie Holthaus: The EU should serve as a mediator in the Russian-Georgian dispute. This role requires that the EU does not take sides with one conflicting party but rather balance its criticism. Even if a position like this is perceived as "hesitant" in the US press, it may contribute to resolving the conflict by diplomatic means………
The conflict between Georgia and Russia has seen the EU become the main diplomatic mediator between the two and it should use this status to develop peaceful relations in the region, argue Nicu Popescu et al. in an August 2008 commentary for the European Council on Foreign Relations.
Turkey is one of the countries that will be most vulnerable vis-à-vis a new global order triggered by the conflict between Georgia and Russia, a study by the Ankara-based International Strategic Research Organization (ISRO/ USAK) has noted.
The conflict erupted on Aug. 7-8 when Georgia tried to retake South Ossetia. A Russian counter-offensive pushed into Georgia proper, crossing its east-west highway and nearing a Western-backed oil pipeline. Russia ignored Western demands to remove its remaining troops from Georgia’s heartland, saying the residual troops are peacekeepers needed to avert further bloodshed and to protect the people of Georgia’s separatist, pro-Moscow provinces of South Ossetia and Abkhazia, two days after Moscow said it had wrapped up its withdrawal.
A man carries a log to his home in a small hillside settlement located near the village of Janovce in Eastern Slovakia where none of the houses have running water or a toilet. A surprising 20 million people in the European Union do not have access to decent toilets and suffer from a lack of hygiene, posing serious health risks, experts meeting at World Water Week in Stockholm said.
(AFP/File/Joe Klamar)
The notion that German Chancellor Angela Merkel should step up and take the lead within the EU to resolve tensions over Georgia and reshape the West’s relations with Moscow appears to be emerging, with analysts claiming Germany is the only country that Russia might listen to.
The NATO foreign ministers gathered yesterday to confer on the crisis in the Caucasus. NATO General Secretary Jaap de Hoop Scheffer sharply condemned Russia and called for an immediate withdrawal of all Russian troops. Europe’s press discusses the role of the alliance after Moscow’s show of force.
Nato governments divided on what to do about Russia
Nato says there will be "no business as usual" with Russia, demanding Moscow withdraw troops from Georgia immediately.
Genetically speaking, Finns and Italians are the most atypical Europeans. There is a large degree of overlap between other European ethnicities, but not up to the point where they would be indistinguishable from each other. Which means that forensic scientists now can use DNA to predict the region of origin of otherwise unknown persons (provided they are of European heritage). found in 306 – The Genetic Map of Europe
Philosopher Jürgen Habermas called for a pan-European referendum in the wake of the Irish ‘No‘. He overestimates the wisdom of the masses and underestimates what has been achieved up to now, counters Alfred Grosser.
Wed Aug 13, 9:10 AM ET
From left, the Estonia’s President; Toomas Ilves, Poland’s President; Lech Kaczynski, Georgia’s President; Mikhail Saakashvili, Lithuania’s President; Valdas Adamkus and Latvian Prime Minister; Ivars Godmanis take part in their joint news conference in Tbilisi, Georgia, Wednesday, Aug. 13, 2008. The top officials from several former Soviet republics, recent members of the European Union, arrived Tuesday in Tbilisi to express their support for President Mikhail Saakashvili after Georgia came under attack from Russian forces.
(AP Photo/Shakh Aivazov)
It has existed for over three decades, but it remains one of the most popular ways to visit Europe. New offers take you to the biggest festivals in Europe – via train
Luggage, travel necessities, cigarettes, alcohol, calls abroad and insurance: a simple factual list of what you can and can’t do when travelling Europe
