Europe, EU, Eurozone, and United Kingdom Archives

Britain, Ireland in Turmoil As Brexit Vote Cancelled

11Dec

By Patti MohrNo Comments

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

Britain, Ireland in Turmoil As Brexit Vote Cancelled

Dec. 11, 2018-A day after British Prime Minister announced she would not submit her Brexit deal to the parliament today as planned, both the draft plan she negotiated and her own political future face a potential end. May said the agreement her government negotiated with the European Union would have been rejected by the parliament had it gone to a vote. That leaves few options for Britain: schedule another parliamentary vote on the current deal, have a messy no-deal exit from European Union treaties and governance structures, or hold another U.K. referendum on whether to leave. Border and Money May said the deal would honor the result of the 2016 referendum that called for leaving the European Union. "We will take back control of our borders, by putting an end to the free m...

Merkel Wins 4th Term as German Chancellor

14Mar

By Patti MohrNo Comments

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

Merkel Wins 4th Term as German Chancellor

March 14-After months of uncertainty over the leadership of Europe's largest economy, the German Bundestag voted 364-315 in favor of giving Angela Merkel a fourth term as chancellor. A coalition of her own Christian Democratic Union and the Social Democratic Party elected her today after a standoff among six parties won support in the general election in September. Since Merkel first won the position in 2005, she has wielded a great deal of influence over European Union policy. She advocated for open intra-European borders and migration from abroad, against criticism from far-right nationalists in Germany and Europe. During Merkel's last major policy speech in January, she called on Europe to take its own destiny within its hands in regards to the digital economy, defense and fore...

Fate of Greece in Limbo After Voters Choose ‘No’ to Debt Deal

6Jul

By Patti MohrNo Comments

Democracy, Europe, EU, Eurozone, and United Kingdom, Finance, Currency, Debt, National Budgets & Interest Rates, Types of News: Analysis

Fate of Greece in Limbo After Voters Choose ‘No’ to Debt Deal

A day after an unprecedented referendum in which Greek voters rejected an offer by creditors to continue their bailout of the country's finances in exchange for strict economic reforms, the fate of Greece and its proud people lie in deep uncertainty. With a vote of 61-to-29 percent, the Greeks resoundingly said "no" to their European partners' plans to continue financing Greek debt under the condition that Greece would pass more "austerity" measures such as cuts to pensions and spending programs and increases in the value-added tax. Now, though everyone seems to deny the possibility of a Greek expulsion from the 19-member common-currency Eurozone, the path to keeping Greece in the union isn't clear. Key European leaders are sending mixed signals. Eurogroup (group of finance min...

Greece Puts Debt Bills Up For Democratic Vote

27Jun

By Patti MohrNo Comments

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

Greece Puts Debt Bills Up For Democratic Vote

Greece is to hold a national referendum to decide whether the country will accept a deal offered by creditors over the country's debt obligations and tax, spending and pension policies. Caught between his government's promises to pay its debts and his own campaign promises to oppose fiscal reforms demanded by creditor institutions, Greek Prime Minister Alexis Tsipras announced today that he will let the people decide the fate of the country. "Our responsibility is for the future of our country. This responsibility obliges us to respond to the ultimatum through the sovereign will of the Greek people," Tsipras said. While it seems like a lot is riding on the national referendum, scheduled to take place Sunday, July 5, the vote might come too late. Greece owes a debt payment of €1.5...