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New Europe Print Edition Issue 992

New Europe Print Edition Issue 992

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Published by: New Europe Newspaper on Jun 24, 2012
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 NEWEUROPE
19thYear of Publication | Number 992 | 24 - 30 June, 2012 | € 3.50
 www.neurope.eu
FRANCE
 After the PS victory in theFrench parliamentary elec-tions, what are the nextmoves for President Hollandenow that his hand has beenstrengthened?
·Page 4
 TRADE
 The European Parliament’sinternational trade committeehas voted to reject the contro- versial Anti -Counterfeiting Trade Agreement (ACTA)...
·Page 6
ENERGY 
 The European Commissionerfor Energy said during EUSustainable Energy Week thatthe ‘Public sector is to lead the way towards energy efficiency'...
·Page 14
ENVIRONMENT
During the United NationsConferenceon SustainableDevelopment, or Rio+20,US Secretary of StateHillary Clinton deliveredremarks focusing...
·Page 12
KASSANDRA
Science: It’s a sexismthing! After producing aracist video, theCommission releases asexist one...
·Page 31
GULF
 Thirty-one years have elapsedsince the establishment of theGCC it continues to be arobust organization that pre-serves the interests of its citizens
·Page 7
ECONOMY 
During the first day of the StPetersburg Economic Forumon 21 June, deals worthalmost $2bn were signed inthe aviation, energy andbanking sectors...
·Page 4
 American cult
Page 15
FASHION& STYLE
· Page 3
Euro
Make or break time
   T   H   O   R   S   T   E   N   S   C   H   M   I   T   T
 
 ANALYSIS
Page 2 | New Europe
 
NEW EUROPE
24 - 30 June, 2012
NE
15 YEARS AGO
Right, if anyone brings up the Eurozone crisis, blame it all on the Americans, got that?|
AFPPHOTO/RIA-NOVOSTI/POOL/ALEXEINIKOLSKY 
 TheShootingGallery 
 The photo illustrates just how underdeveloped Eastern Europe was after decades of Communist rule and a centrally planned economy. It was a huge challenge to bring the Eastern nations into the European Union because not only was theeconomy ruined, the political and civil society sectors were nowhere near European standards. Romania and Bulgaria wereadmitted into the union a decade later, in 2007, but there are still grave concerns in Brussels over these two countries asces-sion, with many privately saying it was a blunder.
 The lone musketeer 
Batten down the hatches, Europe is in crisis once more.Ahead of next week’s European Summit, which gatherstogether all 27 EU government leaders, there is muchscrambling around, as word spreads that the single curren-cy is about to crash and burn.Even the efforts of the Greek electorate to elect a stable,pro-European government haven’t quite stemmed the tideof chaos. Now, he are told, if nothing is done speedily tosolve the problems of the Eurozone, it is only days beforethe whole thing collapses.But Europe, it seems, doesn’t do thing with great haste;something that was put to Jose Manuel Barroso at therecent G20 summit, and which the European Commissionpresident took umbrage with, testily denying such a falla-cy, while European Council President, Herman VanRompuy, kept quiet beside him. The Italian Prime Minister, Mario Monti, no doubt stungby speculation over the future of his country’s economy,has of late been establishing his pro-European, sensibly-spending credentials, and convened a meeting withGerman Chancellor Angela Merkel and French President,Francoise Hollande, as well as Spanish Prime Minister,Mariano Rajoy to emphasise the need for dramatic action. We only have, says Monti, one week to save the euro. He,for one, wants more Eurozone integration and a bankingunion, and he wants it sooner rather than later. Not every-one thinks this is achievable. The German Finance Minister, Wolfgang Schäuble, hasalready queried the idea of “market-friendly policy mecha-nisms” (in effect, eurobonds), as envisaged by the ItalianPM. Conditions, he says, will have to be met, and theGerman position on this is well known. Despite the crisisin the single currency, which has severe knock-on effectsfor Eurozone and non-Eurozone countries, member statesremain split. Some, as IMF chief, Christine Lagarde hassaid, want ‘mutualisation’, others, to steer a wide berth.Some are even prodding at the supposedly dying embersof the German Chancellor.In a widely-circulated column, Josef Joffe said that her cur-rent opposition to other economic plans means that “MrsMerkel's Germany is Europe's one musketeer”; the maximof ‘one for all and all for one’ is redundant. Speculation ismounting that the IMF, Monti, and, possibly, even VanRompuy are mobilising against the chancellor. With hisparty’s victory in legislative elections, Hollande, championof growth over austerity, will also be in combative mood.Meanwhile, UK Prime Minister, David Cameron, hostageto his party’s right and big city bankers, threatens vetoafter veto. While the Eurozone crisis is the single most obviousthreat to the European project, other disagreements quiet-ly undermine the integrity of the EU, such as theSchengen treaty, which, having been taken away from thescrutiny of the European Parliament, is back in the handsof national-only interests.UK Labour Party leader, Ed Miliband, for one, who hasdecided his country let in too many immigrants from east-ern Europe. That is, people from another part of theEuropean Union.If solidarity, economic, political and social, is not practicedby European leaders, can we legitimately say that a unifiedEurope exists? To the summit...
EDITOR
Cillian Donnellycdonnelly@neurope.eu
SENIOR EDITORIAL TEAM
Kostis Geropoulos (Energy & Russian Affairs)kgeropoulos@neurope.eu Andy Carling (EU Affairs)acarling@neurope.euIvan Delibasic (EU Affairs)idelibasic@neurope.eu Ariti Alamanou (Legal Affairs)aalamanou@neurope.euLouise Kissa (Fashion)lkissa@neurope.eu Alexandra Coronakis (Columnist)acoronaki@neurope.eu
DIRECTOR
 Alexandros Koronakisakoronakis@neurope.eu
MARKETING & ADVERTISING
Panos Katsampanispkatsampanis@neurope.eu
EXECUTIVE LAYOUT PRODUCER
Suman Haquesuman@neurope.eu
SUBSCRIPTIONS & DISTRIBUTION
subscriptions@neurope.euSubscriptions are available worldwide
INDEPENDENCE
New Europe is a privately owned independentpublication, and is not subsidised or financed inany way by any EU institution or other entity.
BRUSSELS HEADQUARTERS
 Av. de Tervuren/Tervurenlaan 96,1040 Brussels, BelgiumTel. +32 2 5390039Fax +32 2 5390339info@neurope.eu
PUBLISHERSBRUSSELS NEWS AGENCY SPRL
 Avenue de Tervueren 961040 Etterbeek BelgiumTel. +32 2 5390039info@neurope.eu
EXTERNAL CONTRIBUTIONS
Signed Contributions express solely theviews of the writers and do not necessarily reflect the opinion of thenewspaper.
NE is printed on recycled paper.
    N    E    W    E    U    R    O    P    E
© 2012 
New Europe
all rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form by any means, electronic or otherwise, without the permission of New Europe.
ISSN number: 1106-8299
 
 ANALYSIS
New Europe |Page 3
NEW EUROPE
24 - 30 June, 2012
All the ingredients or a repetition o the1929-33 crisis are here and this week, aterthe 28 June summit we will know i we willcontinue with the euro or not. Italian PMMario Monti, practically speaking, gave tothe euro, one week, and invited FrancoisHolland, Angela Merkel and MarianoRajoy to discuss the situation in view o thesummit.At the same time, Moody’s downgraded15 major inancial institutions. 1929 is anteportas, not or Europe, but or the entire world. Things are terribly simple. The crisis issystemic and is aecting the entire world,o which Europe is only a sub-system. Inthis context, Europe is not the determiningelement or a solution o the problem but itremains one o the major components,greatly responsible or the derail.
 The Pick of the Crisis
 The European crisis has come to thepoint o no return, and or Europe this very summit, is the one and only chance to makeit or break it. EU leaders, either they mustproceed with the iscal and banking union,or ater the summit, the euro may well behistory. The European Commission, an institu-tion, which par excellance has the “right o initiative,” in the past our years was only aspectator o the European crisis because o the British inluence and the lack o politi-cal leadership in its institutions. It is silly toremind that in the past two years and untiltoday, the European Commission has beingkept busy with utile exercises that have noresults to “save” Greece (less than 3% o theEurozone).
Barroso Time
On the real battleield, the deepening o the European institutions, we have seen theCommission doing nothing. Now, it is timeor Jose Manuel Barroso to prove his lead-ership abilities, ignite his machine and takebold political initiatives. Otherwise, he islikely to become part o history, as well. The world is running out o time. ForEurope to survive, provided the world sys-tem does not collapse, it should take twoimmediate decisions; a iscal union and abanking union. At the same time, a sane andsae Europe is cardinally important or the world system, as it is highly interdependent with Europe.A Fiscal Union implies the adoption o the Eurobond concept as the GermanChancellery has visualized it, a RedemptionGuarantee Fund. The Banking Union re-quires the establishment o a EuropeanBanking Authority with supervising au-thorities, to oversee the 50 systemically im-portant European inancial institutions. AEuropean Resolution Authority should bealso established in the same context.
 The British Veto
David Cameron will highly likely vetoany such progress. Indeed, Britain cannotaord any o those provisions. Yet, this veto may be the golden opportunity orthe European Union to marginaliseBritain.So ar, Britain is producing practically nothing living rom the tax-ree commis-sions earned by the City on inancial trans-actions. London is, and will remain, anoshore hedge und.As long as we continental Europeansallow this situation to continue, Europe will go deeper into the spiral o the eco-nomic crisis, now turning into politicaland social, the European Union will col-lapse in no time and Britain will continueto live parasitically, thanks to the City.
 The Solution
At this Summit, the European Union hasthe chance to begin “cleaning” its house. The only actions it has to take is to disre-gard the veto o David Cameron and pro-ceed multilaterally with the Fiscal andBanking Unions, moving rom London toFrankurt the European Banking Agency,replacing the British Director General o Internal Market (in charge o the euro!) with a Spaniard, and pass the External Ac-tion Service, now controlled by Britain, toan Italian. This, I am araid is our one and only chance. I we ail, we will then enjoy  watching the most beautiul catastropheever!
BC 
EUROPEAN UNION
Make it or Break it!
London is, and will remain, an ofshore Hedge Fund
Spanish Prime Minister Mariano Rajoy, French President Francois Hollande, German Chancellor Angela Merkel and Italian Prime Minister Mario Monti takeplace or a joint press conerence ollowing their meeting on 22 June at Villa Madama in Rome. The top our eurozone countries met to tackle the relentlessdebt crisis with France, Italy and Spain pressuring Germany to accept new growth and intervention measures. |
AFP PHOTO / ALBERTO PIZZOLI
www.greenpowerconferences.com+44 (0)20 7099 0600
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