The European Commission, which handles trade matters for the 28-country EU, “expects to conclude the relevant procedure in coordination with member states before the end of June,” said European Commission Vice-President Maros Sefcovic (AFP Photo/John MACDOUGALL)
Brussels (AFP) – The EU on Wednesday said a raft of retaliatory tariffs, including on whiskey and motorcycles, against painful metals duties imposed by the US would be ready as early as July.
The European Commission, which handles trade matters for the 28-country bloc, “expects to conclude the relevant procedure in coordination with member states before the end of June,” said European Commission Vice-President Maros Sefcovic at a news briefing. Continue reading →
There’s been a lot of talk on both sides of the Atlantic about the U.S. pivot and efforts at locking in natural as market share in Europe. Much of this comes amid President Donald Trump’s so-called American energy independence push as well as both U.S. and several EU members thrust to wean Europe off of geopolitically charged Russian gas.
In fact, Trump has pushed for U.S.-sourced LNG to become so much of the EU’s energy security that several European states, particularly Germany, have accused the president of playing energy geopolitics, cloaking American concern for European energy security under the guise and to the benefit of U.S. LNG producers.
Now, however, Trump and U.S. LNG exporters will have an even harder time convincing key EU members to offset overreliance on Russian piped gas with U.S. LNG. Continue reading →
Following our discussion of Europe’s angry response to Trump’s unilateral Iran sanctions, in which European Union budget commissioner, Guenther Oettinger made it clear that Europe will not be viewed as a vassal state of the US, stating that “Trump despises weaklings. If we back down step by step, if we acquiesce, if we become a kind of junior partner of the US then we are lost”, moments ago Reuters reported that the European Commission is set to launch tomorrow the process of activating a law that bans European companies from complying with U.S. sanctions against Iran and does not recognise any court rulings that enforce American penalties.
“As the European Commission we have the duty to protect European companies. We now need to act and this is why we are launching the process of to activate the ‘blocking statute’ from 1996. We will do that tomorrow morning at 1030,” European Commission President Jean-Claude Juncker said.
Brussels has issued some thinly veiled threats to countries that essentially asks them to forego their national, legal sovereignty if they want to keep receiving EU funds…it sounds a bit like a ransom note.
Danish and Swedish permits still pending (Photo: nord-stream2.com)
Germany has started to pour concrete on a Russian gas pipeline that risks dividing the EU and harming its energy security.
The construction began in Lubmin, on Germany’s Baltic Sea coast, on Thursday (3 May), with the laying of foundations for a terminal that will receive 55bn cubic metres (bcm) a year of Russian gas via the Nord Stream 2 pipeline when it goes online in 2020. Continue reading →
BERLIN (Own report) – With intense shuttle diplomacy, members of the German government are seeking to avert the impending US punitive tariffs on European goods and the loss of access to the important US market. Following Germany’s Finance Minster Olaf Scholz’s visit to the US capital yesterday, Chancellor Angela Merkel is expected in Washington on Friday. Already in the run up to these visits, Berlin seems ready to envisage a revival of the Transatlantic Trade and Investment Partnership (TTIP). This strategic decision is accompanied by a clear frontline position against China, as was resolutely demanded by the Trump administration. In addition, German-Russian business relations are increasingly under attack in Washington. At the same time, EU criticism of Germany’s unilateral trade policies is growing. Germany’s export oriented economy is particularly vulnerable to the protectionism that is gaining strength on a global scale. Berlin’s Beggar-thy-Neighbor-Policy could prove a strategic disadvantage under these new global economic conditions. Continue reading →
BERLIN/LONDON(Own report) – With nearly double-digit billions in losses, the German business community would be the main loser of a “hard Brexit” among the remaining EU members, according to a recent analysis on the upcoming Brexit. The EU27 would thus face greater losses than the UK, should Brexit not be followed up with a comprehensive trade and tariff agreement. German companies must expect annual losses of around nine billion euros. The German automotive industry most likely will be the hardest hit. At the moment, a “hard Brexit” seems more likely, because Brussels refuses to include in a post-Brexit trade agreement not only the protection of EU interests but also access to UK financial services. Due to the EU’s obstructionist policy, public opinion is growing increasingly sour toward Brussels. Even British Brexit opponents are lamenting the “EU’s arrogance” and warning that “a Britain that feels humiliated by the EU could be an uncomfortable neighbor.”
The EU commission wants to plough ahead with plans for a banking nion [Getty]
BRUSSELS chiefs are piling pressure on EU members to back plans for a banking union, which will see nations forced to cover bank failures anywhere in the bloc, as it ramps up efforts to reform the Union.
The European Commission wants to plough ahead with the creation of a bloc-wide banking union, which was first proposed in 2012 by the end of 2018, in a bid to prevent a repeat of the 2008/09 financial crisis. Continue reading →
As the world watches breathlessly if Trump will follow through with his threat to slap steel and aluminum import tariffs, Europe continues to quietly ratchet up its own trade war with China and nobody seems to mind. Continue reading →
As mentioned several times in the past, Germany is running the European Union and Europe once again. This time around the conquest is via subjugation of national sovereignty and economic warfare. They have their key politicians in key positions across the European board. The European Commission, European Central Bank and International Monetary fund (the Troika) are all but one example. Regardless of how everything on the EU landscape currently looks, further federalization/integration is the only solution they keep proposing to their problems, and this is ultimately leading to a United States of Europe with its own European Army, which is already beginning to supplant NATO. The Fourth Reich has landed and if you’re looking for Nazis, you’re 70 years too late.
BERLIN/BRUSSELS (Own report) – The EU finance ministers’ decision to appoint the Spaniard Luis de Guindos to be vice president of the European Central Bank (ECB), will boost the chances of German Bundesbank President Jens Weidmann to become its next president. Berlin has welcomed the decision for Spain’s current Minister of the Economy Guindos, considered to be one of the fathers of the Spanish real estate bubble. Subsequent to his designation as vice-president, a northern European is expected to be given the post of ECB president, due to the EU’s proportional regional representation. According to observers, a conceivable deal may be reached with Germany’s Weidmann at the helm of the ECB and the post of EU Commission President going to France. The current German Bundesbank president is unpopular in Southern Europe because he has been systematically trying to prevent current ECB President Mario Draghi’s bond buying programs, considered to be vital for the crisis stricken countries. With Weidmann as ECB president, Germany would further tighten its grip on the euro zone’s financial institutions.
Angela Merkel has been put back into her box in a big way by the leader of Germany’s second most popular party, the AfD.
Alice Weidel slammed Merkel’s approach to Brexit, saying Germany shouldn’t be punishing Brexit Britain, saying the EU is afraid other countries will leave now they’ve seen Project Fear predictions were wrong. Continue reading →
The European Commission vice-president for energy union,Maros Sefcovic, said during a visit to Azerbaijan last week that the European Union was ready to negotiate Iran’s participation in the Southern Gas Corridor (SGC), a system of pipelines designed to pump Azerbaijani gas from the Caspian region to southern Italy via Georgia, Turkey, Greece and Albania.
The European bloc is keen to get its hands on Iranian gas and has already held talks with Tehran on the issue. This means it is unlikely that the EU will budge on its opposition to US President Donald Trump’s demands for revising the Iran nuclear deal. Continue reading →
Iconic US brands such as Jack Daniels and Harley-Davidson will be targeted by EU trade commissioners [Getty]
BRUSSELS is gearing up for a bitter trade war with US and has pledged to fight fire with fire if Washington carries out its threat to introduce import barriers to steel and aluminium products from Europe.
European Union trade officials have warned such a move would result in counter-tarrifs being slapped on exports from the US within days.
They said iconic US products ranging from Harley-Davidson motorcycles to Jack Daniels whiskey would be targeted in any retaliatory strikes and that preparations for such a confrontation were in full swing. Continue reading →
So taxpayers are picking up the tab for the EU’s bungled open door policy.
The EU has £310bn to spend by 2020 on social integration to avoid migrant ghettos becoming “a nuclear bomb in the future” – so taxpayers are picking up the tab for the completely bungled EU asylum policy. Continue reading →