Europe, EU, Eurozone, and United Kingdom Archives

EU Agrees To A Partial Ban On Russian Oil

31May

By Patti MohrNo Comments

EU Agrees To A Partial Ban On Russian Oil

European Council Plans To Accelerate Transition To Alternative Energy May 31, 2022-The 27 heads of government of the European Union agreed today to reduce its dependence on Russian fossil fuels and to accelerate a transition to alternative sources of energy. The decision sets the EU on a course to ban up 90 percent of Russian oil imports by the end of the year. It is part of the sixth round of sanctions against Russia and Belarus in response to Russia's war against Ukraine. "The European Council is committed to intensify pressure on Russia and Belarus to thwart Russia’s war against Ukraine," the Council said in an 11-page document. "The European Council calls on all countries to align with EU sanctions. Any attempts to circumvent sanctions or to aid Russia by other means must be s...

Presidential Election in France Shows Populism Is Still Alive

20Apr

By Ernesto RodriguezNo Comments

Europe, EU, Eurozone, and United Kingdom, Globalization, Disintegration, Nationalism, Populism, Types of News: Analysis

Presidential Election in France Shows Populism Is Still Alive

French President Emmanuel Macron Faces Run-Off With Right-Wing Candidate Marine Le Pen April 20, 2022—This Sunday's French election happens in the midst of various crises. For one, while most of Europe has loosened Covid-related restrictions, the pandemic and its economic damage are still present. At the same time the continent is dealing with the biggest war it's seen since the 1990s when Yugoslavia imploded. In that regard, the two candidates for the top job of the French government couldn't be more different. On one side is Emmanuel Macron, the incumbent president who at the age of 44 has become the heir-apparent to Germany’s Angela Merkel for leading European diplomacy. (Merkel retired at the end of 2021, making way for a new German leadership.) On the other side is Marin...

Europe Shores Up Its Defence, Sets Up Security Plan

23Mar

By Patti MohrNo Comments

Eastern Europe, Europe, EU, Eurozone, and United Kingdom, Geopolitics, Types of News: Brief

Europe Shores Up Its Defence, Sets Up Security Plan

NATO Also To Strengthen Its Defense Capabilities In Europe And Perhaps Beyond March 23, 2022--This week political leaders are meeting on two tracks to build up security in Europe: in the NATO Alliance and in the European Council. Josep Borrell speaks ahead of European Council March 21, 2022 meeting. Even before Russia invaded Ukraine, European countries started plans to shore up their own defenses. It started in 2017 with talks of a voluntary defense arrangement among EU countries. Over time, it grew in. ambitions. After Afghanistan fell to the Taliban in August, European leaders began talking about strengthening their own defense capabilities and building stronger autonomy in foreign policy. That led to the culmination of the Strategic Compass. It is a forward-looking defense ...

International Agency Says Europe Can Cut 1/3 Of Its Russian Gas Imports

7Mar

By Patti MohrNo Comments

Climate Action, ESG, Sustainable Finance, Energy Policy, Oil & Gas, Europe, EU, Eurozone, and United Kingdom, Geopolitics, Globalization, Disintegration, Nationalism, Populism, Organizations, IMF, WTO, G7, UN Security Council, Types of News: Brief

International Agency Says Europe Can Cut 1/3 Of Its Russian Gas Imports

March 7, 2022--Europe is notoriously dependent on Russian oil and gas. That reliance is making strict penalties on Russia's invasion difficult to carry out. But that trade isn't set in stone. In a new report, the International Energy Agency recommends 10 steps for European leaders who want to break that dependency. Under the IEA plan, Europe would be able to reduce its natural gas imports from Russia from 155 billion cubic meters (bcm) a year to 95 bcm--a savings of one third. These figures assume Europe refills is gas storage facilities in 2022. According the the report, the steps are in line with the European Union's goals for climate action and a European Green Deal. However, the agency also recommends additional steps in light of Russia's aggressive war against Ukraine. 10 Steps ...

Germany’s New Coalition Government Puts Values First In Foreign Policy

8Dec

By Patti MohrNo Comments

Democracy, Diplomacy and International Law, Europe, EU, Eurozone, and United Kingdom, Human rights, Types of News: Analysis

Germany’s New Coalition Government Puts Values First In Foreign Policy

A Tougher Stance On China Is Likely December 8, 2021--It's a momentous day for Germany, Europe's largest economy, as that country replaces Angela Merkel with a new chancellor after 16 years of her leadership in and out of the country. The Bundestag officially recognized Olaf Scholz as head of the government. Scholz represents the center-left Social-Democratic Party (SDP). This Fall, the party signed an agreement with the Green Party (Greens) and Liberal Democrats (FDP) to rule the country. The coalition deal promises "an innovative alliance" of parties that represent different traditions and perspectives. 50% Off your first digital audiobook. "We can make a contribution to softening political divisions and can initiate new political creativity. In this way, we can modernize soc...

28Oct

By Patti MohrNo Comments

Europe, EU, Eurozone, and United Kingdom, Finance, Currency, Debt, National Budgets & Interest Rates, Global Economics, Types of News: Brief

Inflation Issues ‘Fade Away,’ ECB Says

European Central Bank Keeps Stimulus Policy Despite Rising Prices October 28, 2021--The European Central Bank decided to keep its emergency purchase program in place, even though the economy is recovering and prices are rising. The decision lets the central bank continue its policy of purchasing financial assets and keeps interest rates in negative territory. That is in spite of an inflation rate of 3.4 percent, which is higher than the target of 2 percent. The Euro's short-term interest rate hovers below zero at -0.573 percent. Meanwhile, the 10-year government bond is also in negative territory at -0.16 percent. The EBC dismissed rising inflation, saying, "This is mainly because oil, gas and electricity prices have gone up a lot and demand is rising faster than supply. But we ex...

After Afghanistan’s Fall, Europe Seeks Greater Autonomy Over Its Foreign Policy

3Sep

By Patti MohrNo Comments

Diplomacy and International Law, Europe, EU, Eurozone, and United Kingdom, Types of News: Videos

After Afghanistan’s Fall, Europe Seeks Greater Autonomy Over Its Foreign Policy

September 3, 2021--Disappointed about the way the U.S. military and political leadership withdrew from Afghanistan, European Union leaders said they have to strengthen their own defense capabilities and build stronger autonomy in foreign policy decisions. "What we need is a strong and common voice in the international scene," said David Sassoli, President of the European Parliament. "Europe must take up its own responsibility, must have a voice, which can be heard, and must set and protect its own interests." -Sept. 1 at the Bled Strategic Forum Reduce Reliance and Strengthen Auonomy President of the European Council Charles Michel, said the "chaotic withdraw from Afghanistan" forces European leaders to "reduce our dependenc...

European Convention on Human Rights Gives More Say to National Governments

2Aug

By Spencer HayesNo Comments

Europe, EU, Eurozone, and United Kingdom, Types of News: Brief

European Convention on Human Rights Gives More Say to National Governments

August 2, 2021 -- An amended framework for human rights decisions in a 47-member convention came into force yesterday after all members ratified an update called Protocol No. 15. Aside from administrative changes, the addition is meant to strengthen the role of state governments in international treaties. Stronger National Roles in Human Rights According to the explanation, the Court gives greater leeway to national governments to decide how to apply and implement the Convention. "This reflects that the Convention system is subsidiary to the safeguarding of human rights at the national level and that national authorities are in principle better placed than an international court to evaluate local needs and conditions," the explanatory report says. Background The decision to ref...

In Rebuff to Brussels, Budapest Plans Referendum On ‘Sexual Propaganda’ Law

27Jul

By Steve BerlinNo Comments

Europe, EU, Eurozone, and United Kingdom, Types of News: Brief

In Rebuff to Brussels, Budapest Plans Referendum On ‘Sexual Propaganda’ Law

July 27, 2021—Hungarian President Viktor Orbán doubled down on his country’s law barring any mention of LGBTQ issues in education and the media. Instead of acquiescing to the European Union Parliament’s recent condemnation of the domestic law, Orbán is planning a national referendum on the issue. The vote is to take place by late 2021 or early 2022. The video is available in French by the AFP. Orbán said the law protects children from “sexual propaganda” and that any EU sanctions were unjust. Earlier this month, the EU Parliament voted overwhelmingly to suspend European funds to Hungary because of the new law. EU leaders said the law “constitutes a clear breach of the EU’s values, principles and law.” Rebuke of EU 'Abuse' Orbán said the proposed five-question referendum is mean...

UK’s Johnson Sees Chance for Green Investments; Will He Seize It?

22Jul

By Steve BerlinNo Comments

Climate Action, ESG, Sustainable Finance, Europe, EU, Eurozone, and United Kingdom, Types of News: Brief

UK’s Johnson Sees Chance for Green Investments; Will He Seize It?

July 22, 2021 -One-time climate change skeptic UK Prime Minister Boris Johnson now sees an opportunity where he once saw only a grim warning. That opportunity is the chance to attract private investment in a green economy. "We're confident that green technology and green investments are the roots to not just cutting emissions but to long-term job creation and economic growth," Johnson said during a recent meeting with a parliamentary liaison committee. Johnson said he sees "huge" investments happening in wind energy and enormous potential for investments along the British coast. Johnson rolled out a plan that includes a blueprint for private sector investments late last year. The plan targets a 78 percent reduction in greenhouse emissions by 2035 when compared to 1990 levels an...