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Prof. Dr  Wolfgang Schumann

19.03.09: EU leaders to discuss response to economic crisis - 0 views

  • EU leaders are meeting in Brussels on Thursday and Friday to discuss the best ways to get out of the economic crisis. But despite some calls to spend more to support the bloc's ailing economies, most of the attention is expected to be focused on the need for better regulation of the financial sector and on "fine-tuning" the existing European economic stimulus package.
  • In the face of the persisting economic turmoil, France and Germany's leaders sent a letter to the Czech EU presidency and to the president of the European Commission on Tuesday reiterating what they see as an urgent need to reform the financial system. "The top priority is building up the new global financial architecture. The European Union must affirm a common position and take the lead in this process," French President Nicolas Sarkozy and German Chancellor Angela Merkel wrote.
Prof. Dr  Wolfgang Schumann

13.03.09: France and Germany unite positions ahead of summit - 0 views

  • France and Germany on Thursday (12 March) agreed that the emphasis at the upcoming G20 meeting in London should be on greater financial regulation and rejected calls coming from the US to increase spending as a way to deal with the crisis. During a meeting of their cabinets in Berlin, the two countries "underlined their determination to pursue and strengthen the co-ordination of their economic policy in the face of the financial and economic crisis and to work together so that such a crisis does not reproduce itself," reads a joint declaration of German Chancellor Angela Merkel and French President Nicolas Sarkozy.
Prof. Dr  Wolfgang Schumann

10.03.09: Crisis straining EU relations as never before, says UK foreign minister - 1 views

  • The economic crisis is putting relations between EU member states under strain and testing the fundamentals of the European Union to an unprecedented extent, UK foreign secretary David Miliband has said. "The sense of solidarity within Europe, between east and west, rich and poor, new and old is under strain," he said in a speech at the London School of Economics on Monday (9 March).
  • His comments come as there has been increasing talk of divisions between richer western EU nations and some of the poorer nations in the east.
Prof. Dr  Wolfgang Schumann

12.12.08: EU leaders close to deal on economi recovery plan - 0 views

  • After a debate clouded by pessimism over where Europe's economy is heading and which other bitter surprises the global financial turmoil might still place in European laps, EU leaders meeting in Brussels have broadly agreed on the proposed economy stimulus package for the 27-strong bloc.
  • But both Belgian Prime Minister Yves Leterme and his Italian counterpart, Silvio Berlusconi, confirmed that there was broad agreement around the negotiating table about both the proposed level of pump-priming - 1.5 percent of the EU's GDP - and most of the other proposals from the EU executive on how to invest extra monies.
Prof. Dr  Wolfgang Schumann

11.12.08: EU leaders gatehr for rift-packed summit - 0 views

  • Almost two years after adopting ambitious green goals, a year after signing the new Lisbon Treaty and some sixteen months after the first signs of the financial crisis, EU leaders are meeting in Brussels on Thursday (11 December) to write a new chapter in the three long-running dossiers.
  • But it will be his Irish colleague, Prime Minister Brian Cowen to open the show by presenting Dublin's analysis on why the Irish voters rejected the EU's reform treaty in the June referendum and what can be done to rescue its ratification.
  • Moreover, Dublin could see a pledge to retain the country's commissioner if all other EU leaders follow the French line – all in a bid to enable the Irish government to hold the second referendum by 31 October, according to the draft document. It would mean that one of the key elements of the EU's institutional reform would be changed despite previous pressure on member states not to touch the package when the bloc was turning the former European Constitution into the Lisbon Treaty, following the negative referendums in France and the Netherlands.
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  • Another hot issue at the summit will be Europe's grand strategy for economic recovery. Brussels has suggested that the Union invest 1.5 percent of its GDP to boost economic activity amid projections of a severe recession in 2009.
  • But if anything is to cause the leaders to be up all night, it will be the complicated arguments over the climate change package. Although the member states had agreed on most elements of the legislation before this week's top-level meeting, there are still a couple of areas where they had not been able to strike a compromise since the European Commission put forward the bill in January.
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