The European Union has moved one step closer to the creation of an EU Army – the same EU Army that definitely wasn’t going to happen in the run up to the referendum.
Federica Mogherini, EU Foreign Affairs and Security Policy chief, as well as Vice-President of the Commission, said:
“In the coming months there will be the chance to launch even more cooperative projects. We will continue to work at full speed and full determination on the European defence more broadly. The new capability development plan will point to the sectors we need to invest in.
The Spanish government decided to reach back into its history and borrow from the playbook of longtime Spanish fascist dictator Francisco Franco in dealing with Catalonia’s decision to declare independence from the Spanish Kingdom as the Republic of Catalonia. The Catalan government’s decision to declare independence followed an October 1 referendum in the region that resulted in a “yes” for independence. Continue reading →
The regions wanting more autonomy or independence [Mauldin Economics]
CATALONIA’S quest for independence from Spain could spark a domino effect plunging the European Union into crisis as a map reveals the other regions across the continent desperate for autonomy.
Catalonia threw Spain into a constitutional crisis yesterday after declaring independence following a controversial referendum.
But the region is not alone in its hope for independence and the aftershocks of the Catalonia crisis could further splinter the EU with dozens of regions hoping to return to autonomy and fighting their own battle to regain control. Continue reading →
Greek government minister Nikos Pappas wants stronger European links [GETTY]
SUPPORTING the European Union goes hand in hand with supporting federalism and Brussels should make a stronger push for ever-closer union, Greek government minister Nikos Pappas has declared.
Mr Pappas said proclaiming a pro-EU stance without backing federalism was “meaningless” and amounted to “talking the talk but not walking the walk”.
In an interview with Greek newspaper Avgi, the Minister of Digital Policy, Media and Telecommunications and a close ally of prime minister Alexis Tsipras, insisted Europe should strengthen its rhetoric promoting serious integration. Continue reading →
As foretold on Global Geopolitics many times throughout the years, Europe will make a sharp turn to the right.
A French politician who is the president of the National Front (FN), a national-conservative political party in France and one of its main political forces. [AFP/Getty Images]
MARINE Le Pen has rocketed into the lead in the race to become France’s next president – just months ahead of the country’s general election.
The National Front leader has usurped Conservative candidate Francois Fillon to take the lead according to an Ifop-Fiducial opinion poll.
Le Pen is now leading the polls for the first time after taking advantage of Fillon’s declining popularity among France’s working class voters, according to the survey carried out for French weekly newspaper Paris Match, TV channel iTele and radio station Sud-Radio. Continue reading →
The EU approved a new Swiss law on Thursday (22 December) that will allow EU citizens to work in Switzerland, opening the way to solve a two-year crisis.
An EU-Swiss joint committee, where all 28 EU states are represented, said that the law passed last Friday in the Swiss parliament would limit the effect of a 2014 referendum to introduce immigration quotas into the Swiss constitution.
One of the consequences of the referendum would have been to limit the free movement of EU workers to Switzerland, a member of the passport-free Schengen area. Continue reading →
Anti-immigrant, anti-Europe, anti-Muslim sentiment is resonating with more and more voters in Europe.
In the wake of the Brexit vote in Britain and the recent Italian referendum, and with national elections looming in 2017 in the Netherlands, France, and Germany, there is concern that Europe may be inundated by a populist wave, driven in large part by right-wing parties exploiting anti-globalization, anti-immigrant, and anti-Muslim sentiments. Indeed, the strategy seems to be working: Polls show that people who have a favorable view of the National Front (FN) in France, the Alternative for Germany (AfD) in Germany, and the Party for Freedom in the Netherlands tend to be more negative about immigrants, refugees, and Muslims than their fellow countrymen. In addition, they are more euro-skeptic and more wary of globalization than their compatriots. Continue reading →
Italy’s Prime Minister Matteo Renzi has said he will officially resign Monday, after voters apparently rejected his proposals for constitutional reform. What should investors keep an eye out for after his defeat?
Although the referendum on Sunday was officially on Renzi’s plan for legislative overhaul, it was widely seen in Italy as a vote of confidence in the prime minister and his government. In voting “no” — projections suggest 59% of those in the ballot made that choice — the Italians have set the stage for an early election and perhaps given local populist parties the chance to deliver a Brexit- or Trump-style shake-up. Continue reading →
The first half of 2016 has been a roller-coaster for financial markets. A combination of uncertainties surrounding the U.K.’s vote to leave the European Union and weaker-than-expected corporate earnings results across the region means a tough second half looms.
European banks, in particular, have had a very tough six months as the shock and volatility around Brexit sent banking stocks south. Major European banks like Deutsche Bank and Credit Suisse saw their shares in free-fall after the referendum’s results were announced. In the U.K., RBS was the worst-hit, with its shares plunging by more than 30 percent since June 24.
The current uncertainty over when the U.K. will start the process of quitting the EU has banks on tenterhooks. But a source told CNBC that banks are “preparing for an economic nuclear winter situation.”