Tag Archives: European Commission

Germany breaks up with the ECB | Instant News

Covid, as explained at the end post, has threatened the European Union (EU) by exacerbating an already severe north-south divide. Nor is this issue the only gap in the solidarity of unity. Fighting is ongoing between Germany on the one hand and the European Union Commission on the other over the behavior of the European Central Bank (ECB). Worse, these problems revolved around the issue of sovereignty pushing Britain out of unity. Partition is far from immanent, but the strife adds another threat to Europe’s entire super-national experiment.

Troubles started with the ECB’s immediate response to this year’s pandemic. Recognizing that the lockdown and quarantine instituted to fight the virus would hurt economic activity, monetary policymakers under the bank’s new president, Christine Lagarde, moved swiftly to ensure that markets and businesses have sufficient financial liquidity to deal with tensions. As interest rates are already low, the ECB is rewriting the previously implemented “quantitative easing” measures to help the eurozone economy recover from the 2008-09 financial crisis. In this practice, banks have entered the financial market to buy bonds and notes directly. Lagarde and others at the bank admit that the policy is not a panacea but insist that providing liquidity along with fiscal relief from member governments could ease the seemingly inevitable lockdown and quarantine pressures. Now German courts are challenging the practice.

Even in 2015, when the ECB first used the policy to help recover from the financial crisis, the German Constitutional Court (GCC) doubted the legality of such a purchase under German law. It began deliberating and asked the European Court to offer an opinion. After the European Court declared “quantitative easing” completely acceptable, the German court still considered it. Last May, the GCC said the practice was against the German constitution. The court’s objection hinges on a matter of proportionality. He wants the ECB to show how the gains from asset purchases outweigh the negative effects on certain groups, including German savers. Until the ECB makes a guarantee for court satisfaction, the ECB has ordered the German central bank, the Bundesbank, to stop cooperating with the ECB.

These seemingly mysterious legal issues have the power to threaten EU stability at the most fundamental level. On the one hand it is the most powerful economy in Europe and arguably its most important member. On the other hand is the ECB, which is certainly the most active and widely recognized union institution. If this is not serious enough, the European Commission has raised tensions even more by threatening legal action against a German court for opposing the European Court’s decision. If the Commission takes such action, it will raise this already difficult dispute to a question of sovereignty, the issue which prompted Britain to opt out four years ago.

It is likely that the parties involved will find a way to cover up their differences. As with similar issues in the past – with the notable exception of Brexit – all of the leaders involved have enough political capital at stake to fight for a union rescue outcome. But it is inevitable that this problem, especially along the north-south division, threatens the European Union. And because political, economic and financial stability in the rest of the western world remains vulnerable to European divisions, these problems also threaten the global economy.


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The European Commission must justify its support for the sir who keeps the MEP-ANI money laundering | Instant News

Brussels [Belgium], 14 November (ANI): Affirming that Pakistan does not follow United Nations security council resolutions on terrorism, European Parliament Member Thierry Mariani said the European Commission must justify its argument that it supports Islamabad which hosts money launderers that finance terrorist organizations. .
In an opinion piece in the EU Chronicle, Mariani said that Pakistan is gaining popularity as a country that protects money laundering and a source of terrorism financing.
“Financial Action Task Force (FATF) President Marcus Pleyer insisted at a Plenary press conference on 23 October that the ‘risk remains’ as Pakistan fails to meet all its terrorism financing standards. The plenary session kept Pakistan on a gray list stating that’ the deadline for all plans action has expired ‘, “he wrote.
Mariana said the FinCEN file, an investigation led by the International Consortium of Investigative Journalists (ICIJ) into money laundering, highlighted that the UN Security Council resolutions 1267 and 1373 related to terrorism were not followed by Pakistan.
“The European Commission must justify how and why it supports Pakistan – a country that hides money laundering, which funds terrorist organizations, all with the knowledge and approval of the government, on its watch list of money laundering and terrorism financing,” he wrote. Furthermore.
Pakistani money launderer Altaf Khanani was on the ‘most wanted list’ for his illicit activities for more than a decade until he was arrested in 2015, MEP said, adding that Khanani’s and Pakistani networks featured prominently in the so-called FinCEN File.
Khanani is considered to be one of the most sought-after money launders in the world. He is involved in illegal international money transfers between countries such as Pakistan, United Arab Emirates, US, UK, Canada and Australia. His organization also transfers money to drug cartels and terrorist groups such as Hezbollah and al-Qaeda.
After a massive hunt involving five countries, Khanani was arrested in Panama in September 2015 by the US Drug Enforcement Administration. He was later sent to the US, where a court sentenced him to 68 months in prison.
Khanani was released from prison on July 13, but there is not much information about his current location.
Despite Islamabad’s actions against notorious money launderers, Khanani could still prove to be damaging to his home country. “Khanani, the head of MLO Khanani, and the Al Zarooni Exchange have been involved in the movement of funds for the Taliban. Khanani is known to have links with Lashkar-e-Taiba, Dawood Ibrahim, al-Qaida, and Jaish-e-Mohammed,” the US Treasury Department said in a statement. press release in November 2015.
MEP Mariani said Pakistan is on the FATF watchlist for a reason – most of the countries within the FATF membership believe that Islamabad, and Imran Khan’s government, have not fulfilled their obligations to curb money laundering and terror financing from its land.
“This is the same Imran Khan who recently gave a speech to Osama Bin Laden praising him as a martyr. Pakistan remains on the ‘gray list’ despite Imran Khan’s attempts to fool the FATF by imposing ‘tight’ financial sanctions on 88 terrorist suits and their leaders, including Jamaat ud-Dawa (JuD) chairman, Hafiz Saeed, and Jaish-e-Mohammed (JeM) Masood Azhar, “he wrote.
“FAFT is not easily misled – it will not only ask for documentation but will also conduct field visits to check if standards and operating systems are in place. The latest report by the Asia Pacific Group (APG) which also reviewed Pakistan’s report. Money laundering and terrorism financing practices are not very positive to that. that direction, “he added. (ANI)

Rejection: The views expressed in the above articles are those of the authors and do not necessarily represent or reflect the views of this publisher. Unless otherwise noted, the author writes in his personal capacity. They are not intended and should not be considered to represent the ideas, attitudes or official policies of any institution or agency.


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Europe turns time back on daylight savings, perhaps for the last time | News | DW | Instant News

Germans get an extra hour of sleep on Sundays because the hours change by one hour at 3 a.m., in a decades-long tradition of aiming for an extra hour of sunshine in the morning.

Germany introduced the switch between summer and winter in 1980, following the global oil crisis. The idea is that it will save energy by maximizing the sundial, although the impact is debatable. However, Germany has changed their hours in October and March since then.

Read more: Opinion: A timeless Europe

Will the EU eliminate the practice next year?

The practice, currently regulated throughout the European Union, has been growing increasingly unpopular for years. Critics say the changing of clocks disrupts biorhythms in humans and livestock, leading to health problems.

In 2018, an EU poll showed overwhelming support for ending summer time altogether. A year later, The European Parliament voted to remove it in 2021.

The decision leaves EU member states to decide whether to stick to the biannual changes, but there is no uniform position on whether the bloc should adopt summer or winter time. With 2021 almost here, there are no concrete plans on how to implement the EU decisions that have been made since last year’s vote.

Will Sunday be the last time Europeans turn back time? Only time will tell.

Read more:Berlin and Beyond: Time for everlasting winter

dr / sms (KNA, dpa, AFP)


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Michael Gove heads to Brussels as UK trade talks with the EU resume | Instant News

Cabinet Office Minister Michael Gove is heading to Brussels today to start the week Brexi trade talks.

Mr Gove will discuss the implementation of the Brexit divorce deal European Commission Vice President Maros Sefcovic.

Formal negotiations between the EU and Britain will resume on Tuesday.

The Brexit transition period will end on December 31, but the UK and EU have yet to agree on a trade deal.

Michel Barnier is neither optimistic nor pessimistic (REUTERS)

Brexit chief negotiator Michel Barnier was said to be neither optimistic nor pessimistic about the chances of a deal, BBC news reported.

Relations were strained after England introduced the Internal Market Bill , which would violate the terms of the Withdrawal Agreement, as well as international law, if approved by the Commons.

The Internal Market Bill has criticized for violating the terms of the Good Friday Agreement by several US politicians, including Nancy Pelosi and Democratic candidate Joe Biden, who also said she would make a trade deal between Britain and the US impossible.

Lorries queuing to enter the port at Dover, Kent (PA)

It happened after Mr. Gove announced that the carrier would need special permission to gain access to Kent as the Government plans to create “internal borders” in an effort to avoid post-Brexit congestion.

Mr Gove said the permits could help avoid queues of up to 7,000 trucks trying to cross the English Channel after Britain left the single market and customs union at the end of the year.

The Kent Access Clearance System (KAP) can be enforced by the police or the use of cameras that monitor the number plates of vehicles entering the area at points such as the Dartford Crossing carrying goods from Essex.

Mr Gove set the measures as he outlined a “plausible worst case scenario” that could emerge from January 1.

Lack of preparation for the end of the transition period could result in as many as 70 percent of trucks being sent home from France, with thousands of freight vehicles waiting up to 48 hours to reach Dover as a result of the chaos.


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US Not Defined For EU Europe, Algeria Safe Travel List | Instant News

It may be some time before Americans can look at the arrival signs at European airports when … [+] EU travel restrictions remain in the US as part of the alliance dpa / Photo of the rise of Covid via Getty Images Travel ban in Europe for Americans and most other foreigners is expected remain in place, while Algeria is removed from the EU’s safe travel list. As EU diplomats meet in Brussels to consider lifting – or re-imposing – travel restrictions on foreigners, Europe’s borders will likely remain closed to Americans and dozens of other countries around the world. . According to Reuters and Bloomberg, the bimonthly review of the closure of Europe’s external borders has not resulted in any other country being added to the safe list of tourists welcome to Europe. During the meeting, EU government officials called not to expand the “white list” of 12 countries and to withdraw Algeria. This brings to 11 the list of countries to which the borders of the Schengen zone are open. European diplomats informed journalists from several news organizations of the provisional decision, ahead of the official announcement scheduled for Thursday. The EU will recommend the decision to all governments, if it is “confirmed in writing by EU members,” Reuters reports. Euronews’ Brussels office also reported that Morocco could be removed from the list, but officials did not mention it to other media outlets. This is the second revision of the list since the bloc reopened to tourism. The timeline for the gradual reopening of borders and, in some cases, closure, has so far looked like this: On July 1, the EU opened its borders to visitors from 15 countries. (China was 15th on the basis of reciprocity, which was not). For the first time in almost four months, “non-essential” trips to Schengen countries have been possible. Then, on July 16, the European Commission updated its list of “safe countries” hosted in Europe. Not only did the list not grow, it shrank: to 13 countries. Serbia and Montenegro have been kicked out following the surge in Covid infections. Indeed, they have been added to the “red list” of countries still not welcome in Europe. Now the eliminated list of 11 countries will look like this if all members formally approve the decision: Australia, Canada, Georgia, Japan, Morocco, New Zealand, Rwanda, South Korea, Thailand, Tunisia and Uruguay. After that, members are free to do whatever they want from their borders. The EU only offers guidelines. However, most are sticking to the line, especially when it comes to keeping borders closed to Red List countries. Some have not opened their borders to the whole whitelist. China is still not included in the official tally, as the lifting of travel restrictions will not take place until it welcomes visitors from the EU. Europe faces second wave, infections among holidaymakers A man leaves the Corona test center at Cologne-Bonn airport. Free corona tests for returnees from … [+] risk zones have started at the airports of Düsseldorf, Cologne / Bonn and Dortmund. Next week they will be mandatory for all German holidaymakers and other EU residents arriving in Germany from high-risk areas. dpa / photo alliance via Getty Images The news comes as many EU countries battle a new spike in infections, leading to more internal border restrictions and quarantines. Several countries are stepping up Covid testing at airports and other border measures to tackle the threat of an increase in infections caused by returning vacationers. In France and Germany, these tests are mandatory for those who come from Covid hotspots. Epidemiological question: relative risk of Covid An empty beach in Algiers, the capital of Algeria. The Algerian government announced on July 26 a … [+] partial renewal of the lockdown measures for 15 days in 29 provinces to curb the spread of Covid-19. Algeria is experiencing a sharp increase in cases, at least three times the EU average infection rate per 100,000 population. Having similar or better Covid success is the benchmark for inclusion, or exclusion, from the EU Safe Country List NurPhoto via Getty Images The decision to add or remove a country from the list of countries with the green light for Europe goes to Covid data. The test is whether they have similar or better Covid infection trends than the EU. This is based on the number of new cases per 100,000 people in the past 14 days. When borders first reopened on July 1, the EU / UK average was 16. Today, in the midst of a resurgence, the average across the 30 EU / Schengen countries is about 20. This fell from 14.8 on July 22 according to the European Center for Disease Prevention and Control. ECDC data shows that the current range of countries in member countries starts at 1.8 in Estonia and climbs to 224 in Luxembourg (up from 183 on July 22). The average number of cases per 100,000 people in the United States is 284 as of July 27. In Algeria, this figure is 65, almost triple the EU average. Following the current update, the borders of Europe will remain closed to the rest of the world for at least two weeks. This is when the list is reviewed again, around mid-August. Not a lot of masks in Morocco. Moroccans gather at the Ouled Ziane bus station in Casablanca on July 26 … [+] to flee the city before travel restrictions to quell a new Covid outbreak come into force. AFP via Getty Images Related reading: Travel ban in Europe, here are 5 things Americans need to know Travel to Europe: EU borders remain closed to Americans and others – This is why tests at Covid airports- 19: United States in Europe, here’s what to expect United States: Trump Lifts ban on European and UK students – With visa you are welcome Travel to Europe: US is banned but here is 14 countries that can visit The health situation in the United States excludes America from being added to the list of … [+] countries for which its borders are open to tourism and other non-essential travel. And this situation can go on for a while. China News Service via Getty Images.

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