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Leaders clash over stimulus against pandemic, pass hot potato to Eurogroup –
Together with Spanish prime minister Pedro Sanchez, Conte proposed setting up a working group made of five leaders of EU institutions – the presidents of the Council, Commission, Parliament, European Central Bank and Eurogroup – which will be tasked to find new economic instruments within 10 days to tackle the pandemic and its economic consequences
Corona  fiscal_policy  esm  budget  single_market 
9 hours ago
ECB promises (almost) whatever it takes
The European Central Bank (ECB) has promised to buy up to €750bn more of government and private bonds in a new "Pandemic Emergency Purchase Programme".
ecb  monetary_policy  Corona 
10 hours ago
Will coronavirus torpedo the Green Deal?
Earlier this week, the prime minister of the Czech Republic, Andrej Babiš, said that "Europe should forget about the Green Deal now and focus on the coronavirus instead".
Corona  environment  green_deal  dismantling 
11 hours ago
Amerikas Arbeitsmarkt bricht zusammen - F.A.Z.
Erstens sollen Länder wie Italien, die sich nicht mehr ohne weiteres am Finanzmarkt finanzieren können, Geld aus dem Euro-Krisenfonds ESM bekommen. Anders als sonst müssten sie dafür beinahe keine Auflagen erfüllen.
Corona  fiscal_policy  conditionality 
23 hours ago
Von der Leyen warns 'end selfishness' in virus crisis
But according to a poll by Monitor Italia, 88 percent of Italians believed the EU had not done enough to help their country.

Those who believe EU membership is a disadvantage to Italy has risen to 67 percent from 47 percent in November, according to Reuters.
Corona  public_opinion  solidarity 
How much will coronavirus hurt European democracy?
These kind of extraordinary powers tend to be sticky. -> research hypothesis
rule_of_law  Corona  project 
Coronavirus: What EU can and can't do
The Treaty also has a solidarity clause known as article 222.

The clause can be invoked in case an EU state is a victim of a terrorist attack or man-made or natural disaster. It obliges EU states to act jointly "in a spirit of solidarity" and to assist member states who asked for help.
Corona  health_policy  solidarity  emergency  fiscal_policy 
How the coronavirus is testing the EU's resilience
Citizens reflexively turn to what is close and familiar. This is the hour of the nation state and of national leaders, leaving the EU on the sidelines.
Corona  populism  technocracy  solidarity  negative_integration 
The Origins of European Neoliberalism | Online Only | n+1
Decision-making about European budgets is thus not so much democratically deficient as democratically imbalanced: it enables coalitions of national governments to impose conservative budgets on the rest of the currency zone (and through economic spillover effects, on the Union as a whole).
monetary_policy  euro  neoliberalism  intergovernmentalism 
5 days ago
Streit um Eurobonds: EU-Staaten können sich nur auf Plan für Vorschläge einigen - Wirtschaftspolitik - › Wirtschaft
Die Regierungen in Rom und Madrid weigerten sich, den Entwurf, so wie er vorlag, anzunehmen. Sie drängten auf die Auflage von Eurobonds – was Deutschland, die Niederlande und Österreich aber vorerst ablehnten
Corona  fiscal_policy 
8 days ago
Schutz vor Entmachtung - F.A.Z.
Das Bundesverfassungsgericht erklärte das Gesetz nun für nichtig, weil es nicht mit einer Zweidrittelmehrheit verabschiedet wurde, die für Verfassungs- änderungen nötig ist. Eine solche gehe mit der Schaffung einer neuen Gerichtsbarkeit aber einher. Unabhängig von deren konkreter Ausgestaltung bewirke das Zustimmungsgesetz eine Übertragung von Rechtsprechungsaufgaben und verdränge deutsche Gerichte, heißt es in dem Karlsruher Beschluss. 
ecj  integration  BVerfG 
13 days ago
EU climate law slammed for delaying action
However, the proposal has failed to improve the target for emissions cuts in 2030.

In addition, the draft law states that the commission will be in charge of reviewing the bloc's climate targets every five years - starting in 2023.

To do so, the commission will adopt so-called "delegated acts", which allow the EU's executive body to review the targets without having the full process of negotiations with the parliament and member states.
climate  climate_law  comitology 
14 days ago
Markets plunge after ECB and EU fail to convince
"An ambitious and coordinated fiscal policy response is required to support business and workers at risk," the French politician and former IMF chief said.
fiscal_policy  monetary_policy  Corona 
16 days ago
How Tech Billionaires Hack Their Taxes With a Philanthropic Loophole - The New York Times
Donor-advised funds, or D.A.F.s, allow wealthy individuals like Mr. Woodman to give assets — usually cash and stock, but also real estate, art and cryptocurrencies — to a sponsoring organization like the Silicon Valley Community Foundation, Fidelity Charitable or Vanguard Charitable. But while donors part ways with their money, they don’t give up control. The sponsoring organizations make grants to hospitals, schools and the like only at a donor’s request. So while donors enjoy immediate tax benefits, charities can wait for funds indefinitely, and maybe forever
tax  charity 
17 days ago
Poland’s just transition bonus cut 50% under latest EU budget proposal –
But the rug has been pulled from under Warsaw’s feet, as Michel’s budget plan curtails funding by 50% for any country that has not yet signed up to the EU’s overall mid-century climate goal.

“For member states that have not yet committed to a national objective of climate neutrality by 2050, access to the Just Transition Fund will be limited to 50% of their national allocation,” Michel’s proposal explains.
climate  budget  side_payments 
6 weeks ago
The Brief – The curious case of the missing fund –
The Czechs, Hungarians and Poles want more money before committing to the deal and the latest €5-billion-strong Brussels buzzword, the Just Transition Fund, is in prime place to deliver that cash injection.

So why did explicit mention of the Fund, which was included in the Council’s draft conclusions, disappear from the final document?


An earlier version said the Council would “look forward to the Commission’s proposal on the Fund” but that was switched out before EU leaders even saw the text for more vague language on a “socially fair and just transition”.

That is essentially the same jargon we’ve been hearing for the last 12 months.

EU diplomats have revealed that it is all part of an ongoing negotiating strategy to prevent the climate talks from focusing too much on Poland’s needs, which are predominantly energy-related.

Warsaw’s reliance on coal power has become inextricably linked with the Fund, so public backing at this delicate stage would have risked leaving the Council with a weakened hand and emboldened Poland to hold out even longer for even more cash.

December’s EU summit is touted as the crunch moment for the agreement.

Portugal and Spain were among the countries to insist on the Fund’s removal from the text, partly because they have transition concerns of their own that are not energy-based, ranging from mining and agriculture to plastics production.
climate  green_deal  budget  side_payments 
6 weeks ago
Charting the winners and losers in Brussels new budget | Financial Times
One of the most incendiary is how to distribute "cohesion" funds — a €330bn pot designed to help promote catch-up growth in the poorest parts of any member state.

During this 2021-2027 period, the programme is cut by 10 per cent in real terms. On top of that, as the FT has reported this week, the European Commission wants to broaden the criteria for allocating money, supplementing gross domestic product with metrics like youth unemployment, carbon emissions and migration.

When combined with the economic fallout of the financial crisis, the result is a shift in over €30bn away from newer central and eastern European member states (Poland, Hungary, Czech Republic), while funding is boosted to the crisis-hit south (Greece, Spain, Italy).
budget  eastern_europe  side_payments 
6 weeks ago
National energy and climate plans will not meet targets, EU warns –
The European Commission warned EU countries today (18 June) that draft national plans for the coming decade are insufficient to achieve the bloc’s 2030 energy and climate targets. “Substantial” gaps have been identified on renewables and energy efficiency.
climate  governance 
6 weeks ago
Von der Leyen: 'Green Deal is our man-on-moon moment'
The announcement of this fund, originally expected before the December's EU summit, has been delayed until January.

As a result, it is unclear if all member states will be able to unanimously agree on the commitment of making the EU climate-neutral by 2050 during the EU Council starting on Thursday.
side_payments  green_deal  2050 
6 weeks ago
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