The EU comes to an agreement on Banking Union

European leaders met in a summit last week that led to an agreemetn on a banking union:
http://www.reuters.com/article/2012/12/18/us-eu-bankingunion-idUSBRE8BH0KZ20121218

Video from The Telegraph:

A week in Europe - from the extreme right to European integration and everything in between

I recently returned from a week-long trip to Europe.  First stop was London, where I started off by giving at lecture at the London School of Economics on my manuscript on anti-discrimination policy in Europe.  I had an appreciative audience, and several friends and colleagues were able to attend, including a former student from UT Austin.  I always appreciate being able to present my work to a European audience, being an American, I always wonder if I'm characterizing the issues in an appropriate way, and it's always nice to get feedback from people with a strong interest in the topic.

The next day was spent in a conference on the extreme right in Europe.  I have written about voting behavior and the radical right, so this was a chance to hear from those who worked on the ground to combat right-wing extremism.  This is an important topic in Europe, as violence against immigrants and ethnic minorities is on the rise during this time of fiscal crisis.  The Institute for Strategic Dialogue hosted the conference and has written a preliminary report on the issue as a prelude to in-depth country studies over the next year: http://www.strategicdialogue.org/Policy_Briefing_-_Far_Right_Extremism_FINAL.pdf

 

London is a lovely place to visit during the Christmas season and I enjoyed seeing the lights in the shopping districts.

 

No trip to London is complete without a stop at Harrods and Oxford Street

 

One of my more interesting stops during the half day I had to play tourist was at the British Library, where the room of treasures had everything from original Beattles lyrics to the Magna Carta and it's related documents.

After London, I flew to Berlin to attend a conference held at the Freie Universitaet Berlin, hosted by my colleagues Tanja Boerzel and Thomas Risse who head the KFG "The Transformative Power of Europe." I spoke again about the development of anti-discrimination policy in the EU, in the context of the diffusion of ideas from the U.S. to Europe. Here's the link to their website: http://www.polsoz.fu-berlin.de/en/v/transformeurope/

Will Britain Leave the EU?

Several stories in the New York Times and the Economist highlight the possibility that Britain may soon have a referendum on EU membership.

The Economist starts off with a story which emphasizes Britain, and in particular David Cameron's isolation within the EU
http://www.economist.com/news/leaders/21567940-british-exit-european-union-looks-increasingly-possible-it-would-be-reckless


The following story examines the how, why and implications of Britain leaving the EU:
http://www.economist.com/news/briefing/21567914-how-britain-could-fall-out-european-union-and-what-it-would-mean-making-break

A story in the New York Times examines the leader of the United Kingdom Independence Party which is now finding its Euroskeptic positions to be in the mainstream:
http://www.nytimes.com/compendium/reader/FNF765KNIFVCMORBYLPX7QVWVZA/291/1214

The Eurozone crisis is far from over...

German Bundestag approves Greek bailout: http://www.nytimes.com/2012/12/01/business/global/german-finance-minister-urges-lawmakers-to-approve-greek-debt-deal.html?_r=0

From the Financial Times - Eurozone states face losses on Greek debt
http://www.ft.com/intl/cms/s/0/e5be9df4-38b1-11e2-bd13-00144feabdc0.html#axzz2DkoZAlra

Germany may be heading into recession:
http://www.bloomberg.com/news/2012-11-30/germany-seen-recession-bound-in-poll-showing-euro-crisis-deepens.html

ECB and IMF push for Eurozone reform:
http://my.news.yahoo.com/ecbs-draghi-says-euro-zone-074735661.html

Deal on Greek debt reached

The IMF and EU Finance Ministers came to an agreement Tuesday to allow Greece to get the next tranche of funds and pay its debts.
http://www.reuters.com/article/2012/11/27/us-eurogroup-greece-idUSBRE8AQ0J920121127

The view from the BBC, with video from key players: http://www.bbc.co.uk/news/business-20506251

CNN Money weighs in: http://money.cnn.com/2012/11/26/news/economy/euro-imf-greece-deal/index.html

...and one last view from Business Week: http://www.businessweek.com/articles/2012-11-27/is-this-greek-deal-for-real

Budget talks end with no agreement - Greece talks continue

As expected, EU budget talks broke down after two days with no agreement.  David Cameron went into the negotiations with demands for cuts, rather than the 5% increase being pushed by the Commission:
http://blogs.wsj.com/brussels/2012/11/22/britain-targets-commission/?mod=djemRTBrusselsBlog_h

More from the Wall lStreet Journal on the collapse of the talks:
http://online.wsj.com/article/SB10001424127887324352004578137051647298838.html?mod=djemalertNEWS

More on the budget impasse from the New York Times: http://www.nytimes.com/reuters/2012/11/23/business/23reuters-eu-budget.html?smid=tw-nytimesworld&seid=auto&_r=0

and CNN's report looks into the components of the budget - with video: http://edition.cnn.com/2012/11/23/business/eu-budget-summit/index.html


EU finance minsters were unable to conclude talks on Greek debt reduction and they will continue on Monday.
http://money.cnn.com/2012/11/21/news/economy/eu-imf-greece-bailout/index.html

If you are really interested in the details on Greece's precarious situation, the Wall Street Journal has prepared a cheat sheet explaining the current issues on the table:
http://blogs.wsj.com/brussels/2012/11/20/your-cheat-sheet-to-greece/?mod=djemRTBrusselsBlog_h

France's credit rating was downgraded by Moody's late Monday, and French officials tried to downplay the action:
http://www.nytimes.com/2012/11/21/business/global/newcomer-to-ratings-game-gives-france-a-dim-view.html

European fiscal woes continue & strife over EU budget

Europe is still/back in recession: http://www.foxnews.com/world/2012/11/17/europe-government-debt-burdens-worsen-as-austerity-bites-and-economies-shrink/

Internal EU migration to Germany is on the rise: http://www.spiegel.de/international/europe/euro-zone-enters-recession-as-immigration-to-germany-rises-a-867461.html

Europe Gives Greece more time for Budget Cuts: http://www.nytimes.com/2012/11/13/business/global/europe-gives-greece-two-more-years-for-budget-cuts.html?smid=tw-nytimesglobal&seid=auto&_r=0

On Friday, EU President says agreement on EU budget is possible: http://uk.reuters.com/article/2012/11/16/uk-europe-budget-van-rompuy-idUKBRE8AF14Z20121116

By Saturday Spain's Rajoy says EU budget that would make cuts to subsidies is unacceptable: http://www.reuters.com/article/2012/11/17/us-spain-eu-budget-idUSBRE8AG0G720121117

Anti-immigrant fascist party on the rise in Greece: http://www.nytimes.com/2012/11/18/opinion/sunday/europes-new-fascists.html?pagewanted=1