Week of September 4thPosted: September 4, 2010
Here is a summary of the European news this week:
First, I encourage you to read those two texts: one by Rob de Wijk, on the lack of leadership in Europe ; et the other by Gilles Savary,former MEP, on the European integration and the link with the Union Budget.
Speaking of, Paris is opposed to the Commission which wants to increase the European budget by 6% for 2011[*].
At the economic level, the International Monetary Fund is reassuring on the risk of default from countries like Greece or Ireland, over estimated risk according to IMF economists[*]
The European Economy is doing relatively well: unemployment is stable at 10% in the eurozone (slightly less in the Union) [*,*,*], inflation is stable at 1.6% [*,*], sales grew by 1% over a year [*] and the services sector knows a stable growth [*] ; the prices of the industrial products also are also rising [*], the general growth of the eurozone is confirmed at 1% for the second quarter of 2010 [*,*,*]. The Euro progresses this week to just below $1.29 [*].
The European Commission and the member states agreed on the dispositions regarding financial supervision. The European Parliament and the council of finance ministers still have to approve the deal [*,*]. In the same domain, the Commission wants to ban short selling [*]; Germany already unilaterally ban naked short selling a few months ago.
In the rest of the European news, we can note the coming in effect of an agreement on wine trading between the EU and Australia [*]; and traditional (burning) light bulb of 75 watts are now banned of sales in Europe – it’s part of the process of a progressive ban on thos bulbs, which use a lot of energy [*].
The European Parliament is meeting in plenary session in Strasbourg next week [*]. The president of the Commission will talk Tuesday with a State of the Union speech [*,*]. We can note also that this month, the deserving MEPs will be honored by the MEP awards.
In the world of Euroblogs, many bloggers are coming back from vacations; in particular, we welcome Charlemagne whose blog is back to life with a new columnist.