Week of January 15thPosted: January 15, 2011
Here is a summary of the European news this week. The week was mostly calm for the EU institutions.
On the economic front, the week started among worries: Portugal was to emit bonds on Wednesday and it was not certain that it would be successful as rumors of a european bailout were running [*,*]. Finally, the bonds emission went weel and this buys Portugal and the eurozone some time to breathe [*,*,*]. This rrelax comes mostly after a show of support from Asia [*,*]. Nonetheless, calls to double the European Fund of Stabilization continue [*,*,*]. The European Central bank keeps its main interest rate unchanged and warns on the risk of inflation [*]. Spain announced that its budget cuts are starting to show their effect [*]. The euro went up against the dollar at the end of the week, recovering in two days from its losses of the start of January [*].
In the rest of the Union: in Italy, S. Berlusconi’s immunity has been partially lifted by the constitutional court, at a time when he’s facing justice again, the cavaliere is loosing ground [*]. In Belgium, citizens are starting to mobilize themselves to finally get a government [*]. The Commission wants to ban mackerels from Iceland, due to over fishing there – Iceland is the latest candidate to join the EU and the issue of fishing quota is the most complex point of the membership negotiations [*].
Next week, the European Parliament is meeting in plenary session [*]