Archive for June, 2009

Europe and Iran

Wednesday, June 24th, 2009

With the USA offering a extended hand to Iran if they are willing to meet them half way has European leaders wondering what to do with Iran. Iran has long been thought the most dangerous country in the world along with North Korea now that Saddam is out of Iraq. European officials are not as keen as Mr. Obama in embracing Iran. With Iran getting close to completing a nuclear bomb, Europe is trying to take more actions by increasing trade sanctions on Iran. Iran seems not to care as they have simply traded more with China.

Iceland to seek EU membership

Wednesday, June 17th, 2009

Having your country pulverised by a financial crisis and near bankruptcy is a good way to change your mind about EU membership. Iceland has long enjoyed all the benefits of the EA but is not an official member. They value their own fishing and farming laws and have not need the Euro currency, up until now. Following the collapse of their economy and the near zero value of their currency they are seeking a economic change. They hope adopting the Euro will have them back in the game even if it means that they will have to give up their fishing freedoms.

Germany’s Constitutional Court

Wednesday, June 17th, 2009

The Constitutional Court is often called the third chamber of the legislature in Germany. They take care of important decisions like whether commuters can deduct transport costs from taxes or whether bars can let smokers light up. Now they face their biggest decision yet. They will be the ones to decide on the Lisbon Treaty. Should they let it pass, like they are expected to do so, it could take away the power they posses. Lisbon would transfer some of the power to Luxembourg.
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Britain is Pro-America

Wednesday, June 17th, 2009

Recent reports suggest that European leaders are more pro-American than ever before. Leading the pack of support for America is the British government. the British prime minister said that Iraq-era splits between “old” and “new” Europe were healed, declaring that “there is only your friend Europe”. Not all of Europe is so happy go lucky with the British love of America. Some senior European officials do not trust Mr Brown to stick with Europe at the G20, fearing he will run to the Americans.
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Eastern Europe to slowdown even more

Wednesday, June 10th, 2009

Going from bad to worse, Eastern Europe already reeling from a credit crunch and lower demands for their exports have just been hit with more bad news. The forecast for the rest of 2009 sees the slow down continue. The World Bank expects to dish out more money to save Eastern European nations than ever before. It has already shelled out more than 1.3 Billion Euro to Hungary as part of its 25 Billion Euro bailout package. The World Bank expects relief funds to double from 4.2 Billion which it gave last year to 8.4 Billion for the region.

No more tax havens

Wednesday, June 3rd, 2009

In the wake of the global financial meltdown the whole EU is trying to put a clamp down on tax havens around Europe. There is a demand for more information to be shared when one country suspects someone or some company of tax evasion. Traditional tax haven countries like Austria, Luxembourg and Belgium are putting up a fight against more openness. They all believe in secrecy since that is where alot of their money comes from. They have long been safe guarding the money of those that don’t want it to be found.