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TEMAT DNIA

Common rescue plan rejected

Common rescue plan rejected

 

The heads of state and government from Germany, France, the UK and Italy met on the weekend and rejected a common rescue plan for European banks. While governments are to strengthen their cooperation, each EU country is now to decide for itself what assistance it will provide its banks with. The European press voices dissatisfaction at the outcome of the Paris summit. » Więcej

Z artykułami z następujących publikacji:
Trouw - Holandia, La Repubblica - Włochy, La Vanguardia - Hiszpania, Sydsvenskan - Szwecja

Trouw - Holandia

For the Dutch newspaper Trouw, the EU does not live up to its aspirations as an economic and political power: "The Union has consistently dropped words of appeasement like coordination, responsibility and stability. The four in Paris are firmly determined to save the banks and the citizens' savings, and to free up the financial system so that money may once more start to flow for businesses and investors. But there can be no talk of a common approach. ... Each country is following its own path, and it will be up to EU Commissioner for Competition Neelie Kroes to determine what is permitted and what is not. ... The fact that the leaders of the biggest economic powers of Europe could come up with no common strategy once more demonstrates that the European Union is still far from being the economic and political authority it aspires to be. Time will tell if the carefully constructed economic and monetary union can survive this financial storm." (06/10/2008)

La Repubblica - Włochy

The left-leaning Italian newspaper La Repubblica criticises the contrast between the ideal of unity propagated by the French EU presidency and the crude reality of unilateral actions taken by member countries: "After creating a common currency and allowing its banks to become uncontrollable giants through international mergers, the EU must now acknowledge the system's lack of political integration. This leads to petty wars between individual states, such as we are now seeing between Ireland and England. English savers are fleeing to Ireland, which attracts them with new state safeguards on accounts. The four in Paris could not even agree on a common level for state guarantees in the case of bank insolvency. The only thing they could agree to was calling a halt to golden parachutes for bad bankers. At the same time they promised to soften accounting rules, allowing banks to continue putting off revealing the extent of their losses as required." (06/10/2008)

La Vanguardia - Hiszpania

The Spanish daily La Vanguardia voices doubts that Saturday's decision will suffice to avert a crisis in Europe: "One day after the solemn decision made at the mini-summit in Paris to bail out any bank that is plunged into a crisis, German Chancellor Angela Merkel was forced on Sunday to reinforce that message with her announcement that the German state will guarantee all the savings accounts in the country. ... But this public guarantee of private savings will not solve all the problems. The resulting climate and the credit crunch will undoubtedly only lead to a further deterioration in the economy. Following Saturday's mini-summit, the situation in Germany and the credit problems of other countries like Belgium and Italy call for stronger intervention on the part of the government and the European Central Bank to guarantee the liquidity of the banks and the entire economy." (06/10/2008)

Sydsvenskan - Szwecja

The summit of the four major EU countries at the weekend has cast a shadow over the upcoming meeting of the EU finance ministers. Critics say the results of the ministers' meeting have already been decided upon. Sydsvenska Dagbladet sees this as a sign that the EU needs a new constitution: "The rules now in force are not suitable for a Union with 27 members, and can make the EU sluggish or even paralyse it. That tempts the big countries to introduce their own initiatives. The necessity for simpler rules governing decision making is clear, but after the No in Ireland it is still unsure when such rules can be adopted. ... Even before the parliament comes out with a statement this autumn, rumours are circulating in Sweden that the country's right of self-determination is threatened in different ways [by the Treaty of Lisbon]. As if it were better for the big countries of the EU to make more decisions on their own." (06/10/2008)

POLITYKA

Večer - Słowenia

Peter Mandelson back in London

British Prime Minister Gordon Brown has summoned Peter Mandelson, his former rival in Tony Blair's cabinet and current EU trade commissioner, back into the Labour government as trade and industry secretary. The daily newspaper Večer expects this decision to improve Brown's standing within his own party. "Brown has two reasons for doing this. On the one hand the need to keep the country afloat economically. ... On the other he needs to revive both his own and the Labour Party's chances of an election victory. Time will show whether and to what extent Mandelson's appointment can contribute to bolstering the UK's economy, but one thing is for sure: the offer to bring Mandelson back into government has caused confusion among Brown's opponents within his own party and reduced the likelihood of a putsch banishing him from Downing Street. By ensuring cooperation with Blair's ex-confidant he has perhaps also increased the chances of the Labour Party overcoming its internal division and being able to make a fresh start." (06/10/2008)

El País - Hiszpania

Losing the good war?

The unstable military situation in Afghanistan has prompted a debate among several European countries about the risks of stationing troops in the Hindu Kush. Political expert José Ignacio Torreblanca comments in El País newspaper: "Can one win the bad war and lose the good one? Afghanistan was always the good war, while Iraq was the bad one. The first [war] was justified by the Taliban and the terrorist threat, the second was based on lies and dubious goals. ... But now we are facing a conundrum: the bad war is going well while the good one is a disaster. ... Europeans have two options: either each nation acts on its own or they act together. ... A united Europe could serve to convince Washington that, like in Iraq, it would be wise to choose a political and non-military solution that gives Afghans the responsibility for their own future and provides them with the necessary tools. But to do this we must stop thinking about withdrawal." (06/10/2008)

România Liberă - Rumunia

No battle against corruption

The European Commission has adopted too soft a tone regarding corruption in Romania and Bulgaria, the daily newspaper Romania Libera comments. "The EU is and always has been a purely technocratic entity - without doubt a strong economic force, but weak when it comes to putting its foot down. [EU Commission President] José Manuel Barroso is a super-bureaucrat who visibly prefers to adopt a distanced approach to the catastrophic results of Romania's obligations towards the EU. He seldom visits Romania and was loathe to back the reform initiatives of [ex justice minister] Monica Macovei and [President] Traian Basescu aimed at establishing an independent and honest legal system. Today it is becoming increasingly difficult for him to ignore the disaster. Rampant corruption and the presence of cleptocrats [political leaders intent on personal enrichment] in the upper circles of power in Bucharest and Sofia have become one of the most serious threats to the EU. ... Barroso is still hesitating to take action against those who trample on the signed agreements and prefer not to fulfil the promises made before 2007 to the EU." (06/10/2008)

Magyar Nemzet - Węgry

Slovak-Hungarian tension

Relations between Hungary and Slovakia are very tense at present. The conservative daily Magyar Nemzet expresses concern about the treatment the Hungarian minority receives in Slovakia. "Slovakia has taken the wrong direction. The country has elevated anti-Hungarian sentiment to a state policy. For his part, every time someone brings up the subject of radical statements [against Hungary] Prime Minister Robert Fico hastily points his finger at his coalition partner, Ján Slota, and his Slovak National Party (SNS). Judging by the public discourse in Slovakia you would think the Hungarians living there were the cause of all evils. The Hungarian minority in Slovakia is accused of representing Hungary's interests, undermining Slovakia's stability and hatching plans to snatch southern Slovakia, which shares a border with Hungary, away from the country. They are regarded as suspect and dangerous. And they are [treated like] second-class citizens who are worth less than the pure-blooded Slovaks. ... The Slovak economy is thriving. ... But its society is being radicalised from the centre in Bratislava." (06/10/2008)

REFLEKSJE

Financial Times Deutschland - Niemcy

Joint action required

The Financial Times Deutschland documents an appeal by leading European and American economists exhorting the European states to take concerted action in the current financial market crisis. "The most recent events in the US have shown that it is pointless to try saving individual banks one after another. We need a systemic response. In Europe this means that the banking sector must be re-capitalised under the leadership of the European Union. ... An end must be put to the chaos on the financial markets before the real economy is seriously damaged. The savings of hundreds of millions of Europeans are in jeopardy. If the crisis causes the loan market to dry up this will lead to the large-scale destruction of jobs and companies. ... In Europe, saving an individual bank means that either a single nation shoulders the burden even though its neighbouring states also suffer from the side effects or a last minute improvised community action plan which entails sharing the costs is implemented. Up to now this latter procedure has made sense, but European banks are too independent of each other for national efforts or sporadic coordinated schemes to suffice. Any intervention by a nation state and any joint action by a small group of countries can have unforeseen repercussions for other European nations. ... Pan-European solutions should be developed where appropriate. ... To prevent crises of these dimensions in the future it will also be necessary to regulate the financial markets and institutes at a European level." (06/10/2008)

Delo - Słowenia

Ana Ješe on the EU's role in Bosnia and Herzegovina

In a commentary for Delo newspaper, Ana Ješe, professor for Eastern European Studies at the University of Bologna, calls on the EU to strengthen its commitment to political development in Bosnia and Herzegovina. "One of the major problems of the state of Bosnia and Herzegovina is its constitution, which is part of the Dayton Agreement. The problem is that the treaty was concluded by the leaders of three states, Alija Izetbegović [Bosnian Muslims], Slobodan Milošević [Serbia] und Franjo Tuđman [Croatia]. ... They agreed on a compromise that suited their appetite for territory, but no one sought to ask whether it would also function in practice. ... Many politicians agree that a solution to the problem is not possible without the US. ... That is a signal for the EU to do all it can to support the Bosnian reformers. ... The EU will certainly not leave the fate of its future member to Russia or the US. The Balkans are an area of European strategic interest, and Europe must take a firm stand here. Now that Bosnia and Herzegovina has signed the Stability and Association Agreement with the EU this year, the EU must act as mediator in negotiations on constitutional reform. EU membership could provide an incentive for a quicker agreement. The EU must also maintain the mandate of its High Representative in Bosnia and Herzegovina, since the young Bosnian state ... needs an intermediary between the various interest groups." (06/10/2008)

GOSPODARKA

Gazeta Wyborcza - Polska

Poland facing financial crisis?

The Polish daily Gazeta Wyborcza warns Poland to prepare for the international financial crisis before it reaches the country. "We in Europe are facing the most serious financial crisis since the founding of the EU. Certain major banks are seeking government aid. ... The EU could change the basic tenets of its common policy. ... Certain changes could be detrimental to our country, and even dangerous. For example the plans for a new directive allowing insurance companies active in Poland to transfer funding to their parent companies abroad. At present the Polish insurers are covered even if their parent companies in France, Holland or Italy go bankrupt. ... The crisis has not yet reached Poland ... The government, the national bank and the financial supervisory authority should [nonetheless] send a clear message that the country is prepared for a pessimistic scenario." (06/10/2008)

Mladá fronta Dnes - Czechy

Car industry in danger

A dip in demand is putting the Czech and Slovak car industries under increasing pressure, the liberal newspaper Mladá fronta Dnes writes: "It began in spring with the rise in oil prices. Now this is being compounded by the financial crisis. Millions of people are no longer sure about their future. And spending on cars is the area where people cut their budgets first. ... In the Czech Republic 120,000 people are directly employed in car production, and a further 100,000 indirectly. This year for the first time more than a million cars will roll off the assembly lines, and soon that figure could go up by half a million. But at Škoda Auto, the flagship of the Czech car industry, the entire production will be halted for the last week of October. There are fewer orders than expected. ... Auto industry suppliers have also confirmed a drop in orders. Some firms are therefore beginning to cut jobs. At the moment the numbers are still reasonably low, but if the crisis deepens tougher measures are likely to be adopted." (06/10/2008)

KULTURA

Süddeutsche Zeitung - Niemcy

Italy must come to terms with its past

Spike Lee's film "Miracle at St. Anna", based on the novel by James McBride, deals with a massacre by the SS of around 560 people in a village in Tuscany during the summer of 1944. The massacre is shown as a German retaliation committed in the hunt for a group of partisan fighters. The Süddeutsche Zeitung writes that the major debate sparked off by the film shows that the country has much work to do in facing up to its past: "Historical conflicts that were never dealt with in the post-war period are being rekindled by fresh recollections of the War. ... If you follow what's being said in Italy today you sometimes get the impression that the civil war of those days is being waged on cultural ground today. ... That a politically harmless fiction film like Spike Lee's can spark such a ferocious cultural and historical debate shows that the domestic peace in Italy is not to be trusted." (06/10/2008)

MEDIA

Sme - Słowacja

A conflict-ridden relationship

Christoph Thanei, for many years correspondent for the German news agency dpa and the Viennesse daily Die Presse in Bratislava, comments in an interview with the liberal newspaper Sme on the conflict-ridden relationship between Slovakia's media and the social democratic government of Slovak Prime Minister Robert Fico: "Neither Fico treats Slovak journalists fairly nor do they treat him fairly. What I like to read in Slovak newspapers is information and commentaries about politics. But increasingly I am forced to read between the critical lines to find out what is actually happening and what is merely being written. It seems to me that the battle against certain types of politician has already gone too far." (06/10/2008)

LOKALNY KOLORYT

Politiken - Dania

Copenhagen needs a city toll

The Danes are discussing how to reduce traffic in the centre of Copenhagen. Some streets have already been closed to traffic, and now support is mounting for a ban on lorries. But the best solution is a congestion charge, writes Politiken daily in its Blog: "Public local transport cannot be had for free, but the parliament is preventing a congestion charge which could finance the transport system. Such city tolls are good liberal policy, and they work well in London and Stockholm. Milan and New York are also on the verge of implementing them. ... Other countries are imposing tolls on drivers and putting the money into public transport systems, and we would be in good company by doing the same." (06/10/2008)

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