Week of June 31stPosted: July 31, 2010
Here is a summary of the news in Europe this week:
On the economic level, Europe and the Eurozone is still in a weak situation, but stable that let an hope for a slow recovery [*]. The last indicators are stables; unemployment is flat [*], the yearly inflation is estimated to 1.7% [*], the saving end investment rate are decreasing [*] and the economic and business indexes are higher [*,*].
The International Monetary Fund published its growth estimates. The IMF back the efforts to cut deficit [*], but is warning some member states over their overestimation of growth or economic recovery [*,*].
The Euro finally went beyond $1.30 at the last of the week, but it doesn’t seem to be completely comfortable there.
The Union officially created the External Action Service this week with the final agreement from the Foreign ministers. This diplomatic Service should be setup by the end of the year and will work on the European external action under the responsibility of Lady C. Ashton. [*,*,*,*] The EEAS ihas been criticized as too big or too expensive, but once scale to the aim at the service, its organisation is somehow classical. (Read this Memo which is a great start to understand the organization of the EEAS)
Membership negotiations with Iceland started this week ; the chapter on fishing will be the most tricky. Moreover, the Icelandic public is, mostly not in favor of the EU membership of their country [*,*,*].
And on those news, The Union goes in vacation.
During the next week, I’ll be in seminar (on exotic beams if you really want to now) – And thus away from the Euro-web-bubble. But some posts are programmed to be published on the blog during my absence, so you you won’t miss me. See you next weekend.