Could the deepening economic recession be the catalyst for genuine reform and closer cooperation that EU governments have been resisting?
As stock exchanges plummet across the globe and developed countries throw trillions of euro at their ailing banks and economies, will EU governments seek much-needed reform and closer cooperation?
Re:Could the deepening economic recession be the catayst for genuine reform and closer cooperation that EU governments have been resisting? Because of the crisis I believe the dilemma is stronger than ever. More Europe and less national policies, or national policies to respond to the crisis and less Europe? My answer to this question is more Europe at any rate, because it will be a crime if at the end of the crisis we have a weak Europe that can play no role. I believe this dilemma should be brought into the public debate by the socialists, and the European dimension of the crisis means Europe should work as a whole, should work together, and can get solidarity. Anna Diamantopoulou, Member of the Greek Parliament, and former EU Commissioner for Employment and Social Affairs
Because of the crisis I believe the dilemma is stronger than ever. More Europe and less national policies, or national policies to respond to the crisis and less Europe? My answer to this question is more Europe at any rate, because it will be a crime if at the end of the crisis we have a weak Europe that can play no role. I believe this dilemma should be brought into the public debate by the socialists, and the European dimension of the crisis means Europe should work as a whole, should work together, and can get solidarity. Anna Diamantopoulou, Member of the Greek Parliament, and former EU Commissioner for Employment and Social Affairs
Re:Could the deepening economic recession be the catayst for genuine reform and closer cooperation that EU governments have been resisting? I hope so. It is clear to me that we are missing the European add value by coordinating our efforts to come out of the crisis better, and by realising what we learnt in the oil crisis days in 1974-79 was that the lack of cooperation and the focus on nations operations were drawing out the crisis for some years. So I really hope that at this stage of the recession the governments will begin to realise the added value of coordinating things much better.Poul Nyrup Rasmussen MEP, President Party of European Socialists, and former Prime Minister of Denmark
I hope so. It is clear to me that we are missing the European add value by coordinating our efforts to come out of the crisis better, and by realising what we learnt in the oil crisis days in 1974-79 was that the lack of cooperation and the focus on nations operations were drawing out the crisis for some years. So I really hope that at this stage of the recession the governments will begin to realise the added value of coordinating things much better.Poul Nyrup Rasmussen MEP, President Party of European Socialists, and former Prime Minister of Denmark
Re:Could the deepening economic recession be the catayst for genuine reform and closer cooperation that EU governments have been resisting? I just hope that this recession will be the catalyst for the UK to join the EURO.
I just hope that this recession will be the catalyst for the UK to join the EURO.
Re:Could the deepening economic recession be the catayst for genuine reform and closer cooperation that EU governments have been resisting? UK has no choice but to finally join the EURO. It's for its own economic and financial survival that City will enforce the logic of joining EURO.The same applies to Denmark, Sweden and also Poland.However this time around we should not allow the Brits (and other's) any opt-out clauses including Schengen and taxation (see below).My primary reaction to this financial crisis is that the single-market is not functioning the way we planned it. Nor is the EURO introduction under Maastricht Treaty fully implemented as far as internal financial adjustments are concerned. The crisis has also demonstrated the we still have a long way to go to call it a truly single-Euro-fianancial market. It's high time some serious review are undertaken to set timelines for coordinating final application of all we put under the single-market and integrate it under law. This is where the Brits, if they adopt Euro, will give us serious headaches again because they don't like the idea of symmetry across the single market under Euro.For ECB the predictability of the internal financial market will heneceforth become central to policy making - demanding thereby final application of Masstricht rules and regulations adopted more than a decade ago by all member states.
UK has no choice but to finally join the EURO. It's for its own economic and financial survival that City will enforce the logic of joining EURO.The same applies to Denmark, Sweden and also Poland.However this time around we should not allow the Brits (and other's) any opt-out clauses including Schengen and taxation (see below).My primary reaction to this financial crisis is that the single-market is not functioning the way we planned it. Nor is the EURO introduction under Maastricht Treaty fully implemented as far as internal financial adjustments are concerned. The crisis has also demonstrated the we still have a long way to go to call it a truly single-Euro-fianancial market. It's high time some serious review are undertaken to set timelines for coordinating final application of all we put under the single-market and integrate it under law. This is where the Brits, if they adopt Euro, will give us serious headaches again because they don't like the idea of symmetry across the single market under Euro.For ECB the predictability of the internal financial market will heneceforth become central to policy making - demanding thereby final application of Masstricht rules and regulations adopted more than a decade ago by all member states.
Re:Could the deepening economic recession be the catayst for genuine reform and closer cooperation that EU governments have been resisting? Mainland China should not be considered a problem but a chance to re-set the global agenda including China's own policy imperatives.Those of us who have some historical knowledge of the Chinese Revolution and its domestic developments, G20 Summit demonstrated conclusively that G-8 have no policy alternative but to seek ever closer cooperation with mainland China - and as Beijing becomes more and more comfortable with GATT/WTO rules and regulations. When China starts taking EU and US to WTO dispute settlement court on, say, unilateral/national anti-dumping decisions, it will be the best assurance that Beijing Mandarins are finally ready and willing to battle with us to secure their national interest. WTO regime was for some time their stumbling block - only now they have the capacity to litigate dispute settlement regime of international trade adjudication under WTOs mandatory rules.So I'd rather involve mainland China in deeper and more intensified consultation with a view to setting the stage for intensified political/economic cooperation. China is looking to EU for an alternative model on state relationship - and we're capable of providing exactly that. We've no great power ambitions and are prepared to meet China half-way and make a deal. And, mind you, China is very good at making deals with Europe - they are currently sending a second investment and purchasing mission to Europe just to prove they are keen on EU.Global currency reserves under IMF create serious decision-making problems for Beijing's surplus - which can be redirected (like we did in 1974's at OECD with OPECs petro-dollar windfall surpluses!) to invest in sectoral development inside Euro market and, may be, export it back to mainland China. With current GDP per capita ,mainland China has a long way to go before it will become a serious competitor to us. The same applies to India.
Mainland China should not be considered a problem but a chance to re-set the global agenda including China's own policy imperatives.Those of us who have some historical knowledge of the Chinese Revolution and its domestic developments, G20 Summit demonstrated conclusively that G-8 have no policy alternative but to seek ever closer cooperation with mainland China - and as Beijing becomes more and more comfortable with GATT/WTO rules and regulations. When China starts taking EU and US to WTO dispute settlement court on, say, unilateral/national anti-dumping decisions, it will be the best assurance that Beijing Mandarins are finally ready and willing to battle with us to secure their national interest. WTO regime was for some time their stumbling block - only now they have the capacity to litigate dispute settlement regime of international trade adjudication under WTOs mandatory rules.So I'd rather involve mainland China in deeper and more intensified consultation with a view to setting the stage for intensified political/economic cooperation. China is looking to EU for an alternative model on state relationship - and we're capable of providing exactly that. We've no great power ambitions and are prepared to meet China half-way and make a deal. And, mind you, China is very good at making deals with Europe - they are currently sending a second investment and purchasing mission to Europe just to prove they are keen on EU.Global currency reserves under IMF create serious decision-making problems for Beijing's surplus - which can be redirected (like we did in 1974's at OECD with OPECs petro-dollar windfall surpluses!) to invest in sectoral development inside Euro market and, may be, export it back to mainland China. With current GDP per capita ,mainland China has a long way to go before it will become a serious competitor to us. The same applies to India.
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