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Fubini, Federico
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4 articles of this author have been cited in the European Press Review so far.
Manoeuvre can harm EU
A boycott of the Euro 2012 football championship would drive Ukraine straight into Moscow's arms, the liberal-conservative daily Corriere della Sera warns: "Europe's geopolitical strategy is at stake, and this raises the question of where Vladimir Putin stands. ... Behind Tymoshenko, but he's also siding with Viktor Yanukovych. The Kremlin's double dealing is aimed at wearing Ukraine down. The goal is for its relations with the West to deteriorate to such a point that Kiev is prepared to become at least a privileged partner of Moscow once more. Moscow has already secured the allegiance of Belarus and Kazakhstan with this strategy. … Europe does well to remember its values in the Tymoshenko case. But it must strike the right balance between defending its values and the danger of playing right into Putin's hands."
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More from the press review on the subject » International Relations, » Sport, » Ukraine, » Russia, » Europe
Flood of cash no solution
The ECB's cheap money won't necessarily prevent a looming credit crunch or restore confidence in Europe's crisis management, the liberal-conservative daily Corriere della Sera writes: "When there's only one show in a city everyone goes there. The same happened at the ECB's counters yesterday. ... The show was sold out. But this doesn't mean that the banks will use the 500 billion euros to ease the credit crunch or buy government bonds. The banks will manage the fresh funds like citizens who have lost their trust in the system. They fear new regulations from the authorities that will lower the value of their assets or further mistakes in the political crisis management. Public and private entities in Europe no longer trust each other. Not even when the computers of the ECB (electronically) spit out 500 billion euros. The negative reaction of the markets yesterday was unmistakable proof of this."
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More from the press review on the subject » Fiscal Policy, » Banks, » Europe
Debt crisis transcends EU borders
Portugal is to receive 78 billion euros from the EU bailout fund and the International Monetary Fund (IMF), the country's acting prime minister José Sócrates revealed on Tuesday evening in Lisbon. However the EU should not underestimate the opposition of the emerging economies to the rescue of Eurozone countries, warns the liberal-conservative daily Corriere della Sera: "The opposition of the Bric states to the Portuguese and Greek bailouts is turning into a full-blown revolt of the new powers against the predominance of the old ones in the IMF. In recent decades Brazil, the Asian countries and Russia have had to accept tough conditions for IMF loans, imposed by Europe. Today they are paying Europe back in kind. The Bric states demanded a debt conversion as a precondition for Portugal's bailout. ... Soon they will demand the same for Athens. The outcome of the negotiations is uncertain. What's clear is that the debt crisis of the euro countries is a political problem that has transcended the EU's borders."
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More from the press review on the subject » EU Policy, » Fiscal Policy, » Greece, » Portugal, » Europe
Stop populism spiral
The victory of the right-wing populist True Finns party in Finland's general elections puts the euro's stability at risk and is therefore a wake-up call for all of Europe, the liberal-conservative daily Corriere della Sera writes: "The Finnish voters have sent a message beyond the country's borders. ... Not just in Finland, but elsewhere too, the inability of governments to give the single currency a credible structure is encouraging anti-European populism. ... The euro crisis alone does not explain the Finns' discontent, but it is fanning the populist anger which is increasingly impeding the bailout of struggling states. This is why the governments in Helsinki and The Hague now have little room for manoeuvre, and it increases the risk of the debt crisis spreading, which in turn fosters more populism. The spiral must be stopped before it's too late."
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More from the press review on the subject » Fiscal Policy, » Elections, » Finland, » Europe
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