BARCELONA/BERLIN (Own report) – Just days before regional elections in Spain’s Catalonia – elections declared a plebiscite on secession – a political partner of the German Green Party is calling for the rapid secession of that region from Spain. Ethnically defined “peoples” throughout Europe should have the “right to self-determination,” recognizing “no borders,” according to a declaration signed by the Spanish member organization of the “European Free Alliance” (EFA). The EFA unites separatist parties of various political orientations from numerous EU member countries. These include organizations closely connected to Viktor Orbán’s ruling Fidesz Party, in Hungary, conservative Flemish nationalists and a party in the tradition of northern Italian separatists, who, years ago, had used terrorism as a means of imposing South Tyrol’s absorption into Austria. Both, the EFA and the German Green Party are members of the same parliamentary caucus collective in the European Parliament. EFA subsidiaries disseminate a map of European so-called nations without states, depicting, for example, Catalonia as independent of Spain and merged with other territories in Spain and France to constitute a “Greater Catalonia.” Leading politicians in the current campaign for Catalonian separatism are propagating pan-Catalonian views, which opponents sharply criticize as “cultural racism with an expansionist demeanor.” The EFA’s map of Europe also depicts Germany merged with Austria and territories of neighboring countries to form a Greater Germany. Continue reading
Goldman previously argued that the weak activity reading rattled a market that had been operating on a core thesis of strong US growth. The resulting uncertainty caused Bund yields and EUR/$ to rise, with the DAX also selling off on the day. Since then, something more ominous has come into play…One clue has been the communications ping pong from the ECB. On May 18, Executive Board member Coeure said “the rapidity of the reversal in Bund yields is worrisome,” citing it as another example of “extreme volatility in global capital markets.”
ECB President Draghi sent the opposite message on Jun. 3, saying “one lesson is that we should get used to periods of higher volatility,” followed on Jun. 10 by Executive Board member Coeure stating that “the ECB does not intend to counter [Bund] volatility in the short term.”
Goldman took a dim view of all this in our last FX Views, even if a charitable interpretation is that President Draghi basically sent a dovish message on Jun.10 and simply didn’t want to signal “activism” in the face of short-term volatility. Continue reading
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Gendarmerien are police forces, although they take on tasks of internal security. In contrast to the police but they are subordinated to the ministries of defense. Used in the interior they are under the authority of the Interior Ministries. They are described as “robust police issues” because they have a better weaponry, armored vehicles and military training. Therefore, they can also be used on the edge of military hostilities. There they are under the command of the responsible Department of Defense.
The EGF was originally planned around the turn of the millennium by Italy and France as EU force. Several Member States, including Germany, but had objections to such a paramilitary unit. The governments in Rome and Paris stuck to the plan and eventually founded the EGF as a multilateral, independent of EU unity. According to its statutes, the capabilities of NATO, the OSCE, the UN and the EU can be borrowed. In the foreground, however, are inserts of the European Union. Continue reading