The eurozone could not borrow from the momentum of the U.S. economy in the third quarter as economic growth slumped to a tepid 0.2% , the slowest rate in more than four years. With the 19-nation currency bloc beginning to stagnate, and the heavyweights failing to post significant gains, Brussels is in panic mode, likely leaning on the European Central Bank (ECB) for further stimulus.
Economists originally anticipated growth of 0.4%. But global trade woes, tumbling business confidence, Italian distress, and the gradual dissipation of an accommodative monetary policy all contributed to the poor numbers in the July-September period. Continue reading →
PARIS/BERLIN (Own report) – The European Intervention Initiative (Initiative européenne d’intervention, IEI) initiated by Paris and supported by Berlin, will begin work this week. Representatives of the ten participating states took this decision in the French capital, yesterday. France’s President Emmanuel Macron promoted the IEI, aimed at rapid deployment capability, in search of gaining support for his country’s over-stretched armed forces. So far, Berlin has been applying the brakes. The German government is focused on systematically merging European troops, for example, within the framework of the EU’s “PESCO” projects and integrating European arms industries with the help of subsidies from the EU Defense Fund. In the future EU budget, the EU Defense Fund is to be increased thirty-fold, to more than €17 billion. Despite all the dissention, Berlin (with PESCO) and Paris (with IEI) are both seeking to establish a European armed forces, which can be deployed on a global scale, independent of the USA.
BERLIN (Own report) – In view of the conflict between Brussels and Rome over Italy’s national budget, the German establishment is increasing its demands to resolutely fight the “internal enemies” of the EU. The Union must “now be vigorously defended,” wrote a leading German daily. The Italian government coalition is “not worth risking the country’s fate.” The Italian government is being put into question, because it refuses to continue to submit to German austerity dictates. Berlin’s dominance over the EU is also being met with mounting protests in other member countries. Poland and Hungary are not the only countries, where controversies are intensifying. Anger at Berlin is also growing in France. Jean-Luc Mélenchon, the founder of “La France insoumise,” who, with almost 20 percent, barely missed making the run-offs in the 2017 presidential elections, has now called for “France to withdraw from all EU treaties.” The German elite’s reaction is becoming more hostile.
LONDON/BRUSSELS/BERLIN (Own report) – The EU’s heads of states and governments were again unable to make progress in the Brexit negotiations last Wednesday, provoking strong criticism from the German business community. Their only proposal was to prolong the transitional period another year, which is out of the question for London, because this would cost the UK additional billions of pounds. The EU is “too inflexible” in the Brexit negotiations, criticized the head economist of Commerzbank. It is a “stickler for principles,” even though it has itself “stretched the rules to the point of becoming unrecognizable” – such as those of the currency union. Commentaries assume that Brussels seeks to set a deterrent example. The EU sees itself “too unattractive,” to be able to prevent other countries from leaving by other means. At the same time, Brussels is running the risk of the Brexit negotiations collapsing, which would cause serious losses, particularly to German industry. Experts do not rule out German export losses in the double-digit billions.
If there were ever any doubts that the leaders of the Euroskeptic coalition that now runs Italy has a plan to defy the European Union its proposed budget should quell them. Both Deputy Prime Ministers, Luigi Di Maio of Five Star Movement and Matteo Salvini of The League, were adamant about locking horns with European Union leadership over all issues of sovereignty between now and May’s European Parliamentary elections.
Their budget proposal which included both tax cuts and universal income blew past the EU budget limit of 2.0% of GDP, coming in at 2.4%. It has put their Finance Minister, Giovanni Tria, in a difficult position because Tria doesn’t want to negotiate this budget with Brussels, preferring a less confrontational, read more pro-EU, approach. Continue reading →
The European Commission wants a continent-to-continent free trade deal with Africa, shifting relations away from development towards trade.
The proposal is a long-term goal for what it describes as a “new alliance” with the continent amid promises to create up to 10 million Africa-based jobs in the next five years.
Speaking to reporters in Brussels on Friday (14 September), the EU’s foreign policy chief Federica Mogherini said the latest plan is different from all the past announcements on Africa. Continue reading →
In the aftermath of a report that Germany was working on a global payment system that is independent of the US and SWIFT, on Monday Germany and France said they’re working on financing solutions to sidestep U.S. sanctions against countries such as Iran, including a possible role for central banks, Bloomberg reported.
“With Germany, we are determined to work on an independent European or Franco-German financing tool which would allow us to avoid being the collateral victims of U.S. extra-territorial sanctions,” French Finance Minister Bruno Le Maire said Monday during a meeting with press association AJEF. “I want Europe to be a sovereign continent not a vassal, and that means having totally independent financing instruments that do not today exist.”
The discussions, which also involve the U.K., are a signal that European powers are trying to get serious about demonstrating a greater level of independence from the U.S. as President Donald Trump pursues his “America First” agenda.Continue reading →
As Global Geopolitics has noted for years, Bible prophecy tells you where relations between both America and Germany are heading. No book or news outlet is as up-to-date as the Bible.
(Photo Credit: Society for Worldwide Interbank Financial Telecommunication)
This would be the first tangible sign of Berlin breaking away from Washington.
In a move meant to “strengthen European autonomy” in the wake of the U.S. walking away from the 2015 Joint Comprehensive Plan of Action nuclear deal with Iran and its opposition to the Nord Stream 2 pipeline project, Germany’s government is seeking an end to the dollar’s dominance as a global exchange currency.
After threatening to walk away from the alliance over spending issues, he claims the other members have agreed to his demand during an emergency meeting.
After hinting that the U.S. might withdraw from the alliance if NATO’s members won’t adhere to their commitment to spending requirements, President Donald Trump sent the heads of state from all 29 member countries scrambling into emergency session—after which he emerged claiming a new victory.
The president got the ball rolling on the final day of the NATO summit in Brussels by tweeting:
“What good is NATO if Germany is paying Russia billions of dollars for gas and energy? Why are there only 5 out of 29 countries that have met their commitment? The U.S. is paying for Europe’s protection, then loses billions on Trade. Must pay 2% of GDP IMMEDIATELY, not by 2025.” Continue reading →
President Donald Trump shared on Twitter Wednesday a video of sharp words he directed toward NATO Secretary General Jens Stoltenberg about Germany being “totally controlled by Russia” regarding their energy relationship.
“Germany, as far as I’m concerned, is captive to Russia because it’s getting so much of its energy from Russia,” Trump told Stoltenberg at a bilateral breakfast ahead of the NATO summit in Brussels, Belgium. Continue reading →
PARIS/BERLIN (Own report) – Germany is participating in a new European military formation that was launched yesterday. Originally a French proposal, the European Intervention Initiative (EII) will be open to EU and Non-EU member countries to join. Expanding the existing EU military cooperation (“PESCO”) with a new operational component, the EII should facilitate rapid decisions on joint military interventions. A first meeting of military commanders from the hitherto nine participant states is set for September. The EII includes Great Britain, which plans to continue its military cooperation with the continent, even after Brexit, as well as Denmark. Since the coordination of military interventions is now officially set outside of the EU framework, Denmark can sidestep the opt-out from EU military policy, it had once granted its population. Referred to by experts as a European “coalition of the willing,” it goes hand in hand with the EU Commission’s militarization plans worth billions and the high-cost German-French arms projects.
The predictions have come true about the emergence of a new defense group that will change the European security environment. On June 25, the defense chiefs from nine EU countries signed off on the creation of a new force called the European Intervention Initiative (EII), which is spearheaded by French President Emmanuel Macron. The new organization will have a common budget and a doctrine establishing its guidelines for acting and joint planning for contingencies in which NATO may not get involved. The group includes the UK, Germany, Denmark, the Netherlands, Belgium, Estonia, Spain, and Portugal. Italy may join soon. The initiative is not tied to the EU’s Common European Defense, which includes the PESCO agreement as well as NATO. Great Britain has always opposed the idea of creating a European defense alliance, fearing it would undermine transatlantic unity. Now it has done an about-face, as the rifts within the US grow deeper. Continue reading →
Leopard II battle tank is pictured in action at the Oberlausitz training area in Weisskeissel. Source: Reuters
Nine European states – France, the UK, Germany, Belgium, Denmark, the Netherlands, Estonia, Spain and Portugal are going to establish a joint military intervention force, France’s Defense Minister Florence Parly has told the French newspaper Figaro.
“Defence Europe requires a common strategic culture … The deadlines and decisions in the EU are still much too long compared to the urgency that can arise from a critical situation in a country where Europeans would consider that there is a strong stake for their security,” she said.Continue reading →
There are some saying that Angela Merkel will be overthrown in a matter of weeks and others saying that there is no plot to remove her. Nevertheless, scandal rising in Germany over the refugee crisis keeps brewing behind the curtain. Cyclically, 2018 may be a peak in Merkel’s career despite what people are trying to deny.
Angela Merkel was born in Hamburg, West Germany, on July 17, 1954, and was actually trained as a physicist. She entered politics after the 1989 fall of the Berlin Wall. She eventually rose to the position of chairwoman of the Christian Democratic Union party becoming Germany’s first female chancellor. Moreover, Merkel has actually become the best-known politician in Europe whose face is more recognized than anyone else in Europe no less Brussels. Continue reading →
German authorities have charged a Tunisian citizen with building a biological weapon, after finding significant quantities of the highly toxic substance ricin in his apartment. The 29-year-old man is referred to in public reports only as “Sief Allah H.”, in compliance with German law that forbids the naming of suspects until they are found guilty in court. German officials said last Thursday that the man remains in custody and has been charged with violating Germany’s War Weapons Control Act (known as Kriegswaffenkontrollgesetz) and “preparing a serious act of violence against the state”. Continue reading →