Italy's new government and update on Euro crisis

Italy's new government was sworn in today:  http://online.wsj.com/article/SB10001424127887323528404578450350631741768.html?mod=wsj_streaming_stream

President Obama welcomed the new government: http://www.google.com/hostednews/afp/article/ALeqM5gvRIr68QdJr0R03qeh1vnn1eLSng?docId=CNG.a0ad01103ec843ac5108c51e2761e287.321

However, a shooting incident marred the swearing in of the grand coalition: http://www.ft.com/intl/cms/s/0/2005ef0e-b020-11e2-8d07-00144feabdc0.html#axzz2Rn5XR0TJ

Recent polling shows trust in the European Union at an all-time low: http://www.dw.de/trust-in-european-union-hits-record-low/a-16775428

Recent development also indicate a shift away from austerity by member state governments: http://www.businessweek.com/news/2013-04-28/europe-softening-on-austerity-may-accelerate-amid-course-change

The EU, foreign policy and shrinking defense budgets

Catherine Ashton criticized in new report: http://www.spiegel.de/international/europe/report-criticizes-eu-foreign-policy-chief-catherine-ashton-a-895933.html

NATO Secretary General raises concerns about cuts to defense budgets in Europe: http://www.nytimes.com/2013/04/23/world/europe/europes-shrinking-military-spending-under-scrutiny.html?ref=world

EU Defense ministers met this week to discuss the situation in Mali and to prepare for a donor conference: http://www.euractiv.com/development-policy/eu-ministers-prepare-mali-donor-news-519242

German Defense Minister says UK would jeopardize military standing if it leaves the EU  http://www.guardian.co.uk/world/2013/apr/22/uk-military-eu-german-minister

Serbia and Kosovo came to an agreement on a normalization of relations this past week which will allow the two countries to move forward in consideration for EU membership: http://www.eeas.europa.eu/top_stories/2013/190413__eu-facilitated_dialogue_fr.htm

Some context from Bloomberg: http://www.bloomberg.com/news/2013-04-23/kosovo-deal-shows-the-eu-deserved-its-nobel-prize.html

The Euro Crisis, Populism and Disparities

An article in Public Service Europe argues that populism is making the Euro Crisis "more combustible": http://www.publicserviceeurope.com/article/3363/populism-making-euro-crisis-more-combustible

Meanwhile, a study on wealth in the EU came to the very surprising conclusion that Germans are some of the poorest in the EU: http://www.nytimes.com/2013/04/16/business/global/study-on-wealth-fuels-euro-crisis-debate-in-germany.html?pagewanted=all&_r=0


The Poverty Lie from Der Spiegel : http://www.spiegel.de/international/europe/poor-germany-it-is-time-for-a-debate-on-euro-crisis-burden-sharing-a-894398.html

German Chancellor Angela Merkel argued that the figures cited in the article were distorted: http://www.bloomberg.com/news/2013-04-19/merkel-says-german-wealth-gap-with-southern-europe-is-distorted.html

Meanwhile, the spring meetings of the IMF and World Bank led to calls for Europe to do more to spur growth in the flagging EU economies: http://www.nytimes.com/2013/04/22/business/global/europe-heeding-international-call-to-do-more-to-spur-growth.html

Death of Margaret Thatcher brings tributes and jeers

Margaret Thatcher passed away Monday, April 8th, after a stroke.  The tributes began pouring in immediately after her passing was announced:
http://www.washingtonpost.com/blogs/post-politics/wp/2013/04/08/obama-and-others-mourn-margaret-thatcher/

The song "Ding Dong the Wicked Witch is Dead" from the movie "The Wizard of Oz" has flown off the shelves since her passing, creating a dilemma for BBC radio on whether they should play the song if it gets to the top of charts - this has led to a variety of responses:

http://www.huffingtonpost.co.uk/2013/04/12/ding-dong-thatcher-row-nigel-farage_n_3067496.html?utm_hp_ref=uk-politics

Meanwhile, the New York Times Editorial Board critiqued the current approach to the Euro crisis:
http://www.nytimes.com/2013/04/15/opinion/europes-bitter-medicine-of-austerity.html?_r=0

And to illustrate the point...a new Euro-skeptic party held its first party conference in Germany: http://www.telegraph.co.uk/news/worldnews/europe/germany/9993551/German-equivalent-to-Ukip-angry-at-Nazi-jibes-from-southern-Europe.html

Cyprus to Portugal to Slovenia - from one crisis to another

The Portuguese high court has annulled several components of the Portuguese governments austerity budget, leading to a new crisis:
http://www.dw.de/constitutional-court-rejects-parts-of-portugals-budget/a-16724591

As a result the prime minister, Pedro Passos Coehlo, has proposed deep cuts in social security, health, education and public enterprises:
http://www.bbc.co.uk/news/world-europe-22058461

The European Commission issued a statement regarding the situation on Sunday:
http://www.businessinsider.com/europe-issues-sunday-night-statement-amid-new-situation-in-portugal-2013-4

Capitol controls continue in Cyprus, and there are ongoing concerns that they may still end up leaving the Euro zone: http://www.bbc.co.uk/news/business-22002153 

Meanwhile, Slovenia may be the next country needing a bailout, with the small country being compared to Cyprus: http://www.bloomberg.com/news/2013-04-07/slovenia-bailout-signaled-by-worsening-debt-swaps-euro-credit.html

It is a gloomy end to the weekend, and it will likely show in the markets this week: http://www.businessinsider.com/portugal-and-growth-cause-euro-gloom-2013-4

Treasury Secretary Jack Lew heads to Europe to push for growth policy: http://www.nytimes.com/2013/04/08/business/economy/in-europe-lew-will-press-for-more-growth-less-austerity.html 
 and more on Lew's trip:
http://www.cnbc.com/id/100621964