With the 100 billion euro bailout plan for Spain's banks Europe is once more launching an emergency rescue operation. But the plan fails to address the underlying causes of the financial crisis, the liberal weekly business paper Les Echos writes: "The Union's solution is a stop-gap measure that doesn't solve the basic problem. For Spain, the basic problem includes the ailing financial health of certain autonomous regions and the very real risk that the national economy might not withstand the drastic efforts at budgetary restructuring undertaken in the past months. Two issues that could render the injection of additional European funds necessary in the not so distant future. The problem is, however, that as well as being ineffective in the long-term, this short-sighted policy is extremely costly for Europe. … The entire bill now stands at 500 billion euros. The result: the European fire brigade's ability to intervene is dwindling, even as the hour of truth approaches." (12/06/2012)

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Más de la revista de prensa sobre el tema » Política de la UE, » Política financiera, » Bancos, » España, » Europa
Todos los textos disponible de » François Vidal
Cobertura de debates » Salidas a la crisis de endeudamiento

The decision to forego mandatory spending cuts in exchange for the bailout package for Spain's struggling banks shows that the same standards do not apply for all crisis countries, writes the business paper Diário Económico: "With Spain the abbreviation PIGS [Portugal, Ireland, Greece and Spain] is now complete. ... Like in George Orwell's Animal Farm, some animals in the EU are simply more equal than others. Unlike Portugal, Ireland and Greece, Madrid will receive billions in aid without having to impose any austerity measures. ... But when Lisbon tries to negotiate better conditions for their own pacts the gentlemen in Brussels have the cheek to label this as abstruse. The pep-talk text message Prime Minister Rajoy sent his economics minister on Saturday says it all: 'Hang in there, Spain is the fourth-largest economy - not Uganda.' This may be true, but when you look at the balance of power and the favourable conditions (or rather lack of conditions) for Spain's bailout package, as a Portuguese you do feel a bit Ugandan." (12/06/2012)

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Más de la revista de prensa sobre el tema » Política de la UE, » Política financiera, » Bancos, » Portugal
Todos los textos disponible de » Pedro Carvalho
Cobertura de debates » Salidas a la crisis de endeudamiento

The bailout package for Spain is aimed at preventing the financial crisis from spreading throughout the entire Eurozone. The IMF warned on Monday that Finnish banks may also be affected. The liberal daily Helsingin Sanomat complains that expanding the bailout operations entails higher risks for small countries: "It is becoming increasingly clear that extending joint liability even further is not an option. It would be particularly dangerous for small Eurozone countries like Finland. The bailout for Spain highlights the fact that the big and small countries are treated differently. Spain was not subject to intervention as Ireland was, which applied for EU funds for the very same reason, nor has Spain been forced to implement its austerity programme as stringently as Belgium, for instance. Furthermore, if the banking and debt crises spread to larger countries, the small countries will be forced into the role of silent paymasters." (12/06/2012)

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Más de la revista de prensa sobre el tema » Política financiera, » Mercado de finanzas, » Bancos, » España, » Finlandia, » Europa
Cobertura de debates » Salidas a la crisis de endeudamiento

The Dutch caretaker Prime Minister Mark Rutte has assured his country that the billions in aid for the Spanish banks will be repaid. That is dishonest, the left-liberal daily De Volkskrant counters: "A part of the billions that Europe is injecting into Greece, Portugal, Ireland and now Spain will never come back. With this loss the European politicians are preventing a chaotic development that could cause even worse economic fallout. Moreover an integrated Europe also has political goals. Politicians must have the courage to explain these arguments. They must sell Europe and not deceive the voters about the risks. But if they only point to their own wallets they are providing the Eurosceptics with extra ammunition. After all it's clear with Spain, too, that part of the promised 100 billion euros will never be repaid. Anyone who claims the contrary will lose the voters' trust. This will only undermine support for the bailout operations." (12/06/2012)

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Más de la revista de prensa sobre el tema » Política financiera, » Mercado de finanzas, » Bancos, » España, » Holanda, » Europa
Todos los textos disponible de » Xander van Uffelen
Cobertura de debates » Salidas a la crisis de endeudamiento

In view of the new bailout plan for Spain's banks on the weekend, the left-liberal daily Politiken demands that a clear distinction be made between states and their banks: "The solution is the creation of a banking union within the EU countries. ... The goal is simple: no bank in Europe should be too big to fail. ... Through strict lending and liquidity requirements the banks should be made capable of looking after themselves. Then it would no longer be the taxpayers, but the owners in the form of shareholders, who must bear the losses when speculative deals go awry. A functioning banking system is of fundamental importance for Europe's economy and labour market. For that reason tighter supervision of banks should not be driven by a thirst for revenge, the desire for a planned economy or pure envy." (12/06/2012)

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Más de la revista de prensa sobre el tema » Política financiera, » Mercado de finanzas, » Bancos, » España, » Europa
Cobertura de debates » Salidas a la crisis de endeudamiento

After the French Socialists under President François Hollande emerged as the strongest party from the first round of the parliamentary elections on Sunday, the liberal daily The Guardian is optimistic that they will obtain an absolute majority in the National Assembly: "It is not a mandate that the French have bestowed on Mr Hollande with huge enthusiasm. But it nevertheless hands him an opportunity to rule and to make policy that could be of critical importance for France and for Europe. Unlike other recently elected European leaders, Mr Hollande will have some real room for manoeuvre. The key factors here are his solid domestic political base, France's unique leverage over Germany and in Brussels, and the growing perception across the continent that the austerity solution, as crudely conceived and brutally applied so far, is worsening the European economic crisis rather than helping to resolve it." (12/06/2012)

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Más de la revista de prensa sobre el tema » Política interior, » Elecciones, » Francia
Cobertura de debates » Salidas a la crisis de endeudamiento

The apartments of several Russian opposition figures have been searched in the run-up to the major demonstration planned for this Tuesday in Moscow. Now even those who were previously not under suspicion are being subject to state intimidation, the liberal-conservative daily Die Presse reports: "Apart from the usual suspects like the blogger Alexey Navalny, the intimidation has now extended even to marginal protest figures - like the telegenic party girl Kseniya Sobchak for example, who as the daughter of Putin's close follower Anatoly Sobchak had been viewed as untouchable until now. The case of Kseniya Sobchak makes it clear that hardliners have taken up their positions in the state powerhouse. The former host of the Russian Big Brother is no die-hard dissident, but rather a late-bloomer from a good family. The fact that her flat, of all places, was ransacked can only be taken as a signal to the profiteers of the Putin system so far: disloyalty will be punished, regardless of how much protection those concerned might have." (12/06/2012)

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Más de la revista de prensa sobre el tema » Política interior, » Movimientos sociales, » Rusia
Todos los textos disponible de » Michael Laczynski

In Romania, the left-liberal governing alliance USL scored a clear victory in local and regional elections on Sunday but fell short of an absolute majority. The liberal-conservative daily Adevărul explains the reasons behind the USL's victory: "The voters didn't vote for the USL alliance because it is less blemished and has a cleaner record than other parties or because the [liberal-democratic] PDL is the embodiment of evil. Both sides have their 'local barons' who are incompetent, shameless and corrupt. The truth is that the electorate used their vote to punish the incompetent government of [ex-prime minister] Boc. The poorest and the still weak middle class have been worst hit by the crisis. The people are sick of hearing about austerity measures from morning to night and have decided it's time to let the others have a go at governing the country." (12/06/2012)

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Más de la revista de prensa sobre el tema » Política interior, » Elecciones, » Rumania
Todos los textos disponible de » Sabin Orcan

The energy ministers of the EU voted on the new energy directive in Luxembourg on Friday. However not much remains of what was once an ambitious plan, the left-liberal daily Süddeutsche Zeitung comments: "So far Germany has abstained in the negotiations, while doggedly trying to topple as many energy-saving draft regulations as possible. This is absurd and embarrassing because everyone knows that energy consumption needs to sink if the switch to alternative energy sources is to be successful and affordable. The German government's energy concept sets the target of lowering energy consumption to 80 percent of what it was in 2008 by 2020. This looks good on paper, but when it comes to actually taking action the whole thing falls flat. … For a long time Germany remained silent in the negotiations, because environmental minister Norbert Röttgen, unlike [Economics Minister Philipp] Rößler, was in favour of the directive. It was the new Environmental Minister Peter Altmaier who gave in to Rösler. We can only hope that the joint demand for a softened stance in Brussels fails - it would turn the directive into nothing more than a paper tiger." (12/06/2012)

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Más de la revista de prensa sobre el tema » Política de la UE, » Medio ambiente, » Europa
Todos los textos disponible de » Marlene Weiss

A bill presented by the Bulgarian Ministry of Finances foresees major hikes in the salaries of high-ranking politicians and officials. The monthly salary of the prime minister, for example, would rise from the equivalent of 1,700 euros to just under 3,700 euros. The daily Standart hopes that the measure will prove an effective tool against corruption: "Without doubt the salaries must increase, and not just the prime minister's salary but also that of the cleaning lady. Not just because Bulgaria is the poorest country in Europe but above all because lousy pay leads to theft and corruption. When you're talking about the state, the words 'poor' and 'corrupt' are synonymous. ... In this sense raising the salaries of high-ranking officials will hopefully be a first step in the fight against corruption in the halls of power. And if those at the top start setting a positive example then with any luck others will follow suit." (11/06/2012)

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Más de la revista de prensa sobre el tema » Política interior, » Política financiera, » Bulgaria
Todos los textos disponible de » Valeria Stoykova

Faced with ongoing fighting in Syria the international community is discussing how to react to the conflict. In an article published in the left-liberal daily El País former US secretary of state Henry A. Kissinger warns against military intervention in the country: "Military intervention, humanitarian or strategic, has two prerequisites: First, a consensus on governance after the overthrow of the status quo is critical. If the objective is confined to deposing a specific ruler, a new civil war could follow in the resulting vacuum, as armed groups contest the succession, and outside countries choose different sides. Second, the political objective must be explicit and achievable in a domestically sustainable time period. I doubt that the Syrian issue meets these tests. We cannot afford to be driven from expedient to expedient into undefined military involvement. ... In reacting to one human tragedy, we must be careful not to facilitate another." (12/06/2012)

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Más de la revista de prensa sobre el tema » Relaciones internacionales, » Crisis / Guerras, » EE.UU., » Siria
Todos los textos disponible de » Henry A. Kissinger
Cobertura de debates » El mundo árabe lucha por la libertad

The presidential run-off vote in Egypt, in which a Muslim Brother and a representative of the Mubarak regime will compete for the office, will take place on June 16 and 17. A sobering moment for activists of the Facebook revolution, writes the US journalist Thomas L. Friedman in a commentary for the left-liberal daily La Repubblica: "What happened to the 'Facebook Revolution'? ... No doubt Facebook helped a certain educated class of Egyptians to spread the word about the Tahrir Revolution. ... But, at the end of the day, politics always comes down to two very old things: leadership and the ability to get stuff done. And when it came to those, both the Egyptian Army and the Muslim Brotherhood, two old 'brick and mortar' movements, were much more adept than the Facebook generation. To be sure, Facebook, Twitter and blogging are truly revolutionary tools of communication and expression that have brought so many new and compelling voices to light. At their best, they're changing the nature of political communication and news. But, at their worst, they can become addictive substitutes for real action." (12/06/2012)

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Más de la revista de prensa sobre el tema » Elecciones, » Medios de comunicación, » Sociedad, » Egipto
Todos los textos disponible de » Thomas Friedman
Cobertura de debates » El mundo árabe lucha por la libertad

News agency Reuters reported on Monday that the EU is working out an emergency plan for the event that Greek exits the Eurozone. Ignacio Escoal analyses two different interpretations of this news in his blog: "Reuters reports: The EU is preparing emergency plans that include limits on the amount of money that can be withdrawn from cash points and monitoring of capital flows in Greece 'and other countries'. If this is true - and everything points to this being the case - it can only mean two things. The bad version: The EU is trying to scare the Greeks to deter them from voting for Syriza (whose programme should be read in order to understand the situation). Or the even worse version: The possibility of Greece's exit from the Eurozone is already so real that not even the EU's politicians dare to rule it out. … It is unwise to put Greece under pressure with such an undemocratic and risky threat - expelling the country from the Eurozone if Syriza wins would be ruinous for Europe, too. However it is wise to prepare for the unlikely but possible collapse of the euro." (12/06/2012)

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Más de la revista de prensa sobre el tema » Política de la UE, » Política financiera, » Elecciones, » Grecia, » Europa
Todos los textos disponible de » Ignacio Escolar
Cobertura de debates » Salidas a la crisis de endeudamiento

Maribor has been the European Capital of Culture 2012 for almost half a year. While the cultural programme is running well, many architectural projects that were heralded as visionary have run into the sand, writes the conservative daily Večer: "As recently as 2009 people were saying that Maribor was on the verge of the biggest development phase in its history. Not only the city but also the major construction firms had big plans. The list of construction projects was lengthy, the sums to be invested were dizzyingly high. ... But nothing came of the city's plan to force the state to fund this architectural game of poker. Pleasant memories will remain of the Cultural Capital, but Maribor will see nothing of the lasting development that had been so loudly touted. Perhaps that's all for the better, because the promises, the project implementation, the maintenance and the personnel costs would have driven the city into ruin." (12/06/2012)

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Más de la revista de prensa sobre el tema » Política de la UE, » Cultura, » Eslovenia
Todos los textos disponible de » Urska Kerezi

Many Poles are decorating their cars and houses with Polish flags during Euro 2012 in a display of support for their country's football team. But that has less to do with real patriotism than with a desire to party, writes Łukasz Warzecha with regret in the conservative tabloid Fakt:"We can say for certain that the majority of drivers who have adorned their cars so colourfully are not about to hang flags on their balconies on the 1st or 15th of August, on November 11th or May 3rd [the Polish national holidays]. No doubt they couldn't even say what was being celebrated on these days. The mass fan culture we're seeing during Euro 2012 is a sort of patriotism light, the kind you show when getting together for a barbecue. That has very little to do with true pride in your country, its history and its people. ... Some people say that this mass patriotism in the stadiums is better than none at all. But they're wrong. This fan culture is just a way of demonstrating your feelings. It's a substitute for patriotism, but not a worthy one." (12/06/2012)

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Más de la revista de prensa sobre el tema » Deportes, » Sociedad, » Polonia
Todos los textos disponible de » Łukasz Warzecha
Cobertura de debates » Kick-off in Eastern Europe