Thursday is a big new day for green development for European countries. Unspent funds from the EU's economic recovery programme will be most likely redirected to fund energy efficiency and renewables projects. At least, that is if the Industry Committee of the European Commission will vote that way. A massive bulk of euros is expected to become green, giving new oxygen to the greening of economy in original projects.
In July, €250m were already approved for 210 new ecological projects, under the third call for the Life+ programme, the European fund for the environment which runs from 2007 to 2013. LIFE is the EU’s financial instrument supporting environmental and nature conservation projects throughout the EU, as well as in some candidate, acceding and neighbouring countries. Since 1992, LIFE has co-financed some 3115 projects, contributing approximately €2 billion to the protection of the environment.
The efforts of the EU to show its ecological side have been considerable over the least years. Barrosso II has made it into a spearpoint of its policy. The opening up of this treasure of positive action towards the general public merits bigger media attention. The green week is a good forum, but the media could do more, all through the year, to walk the walk and talk the talk of the green economy in Europe.
The stress tests of 91 European banks in 20 EU countries indicates "the banks are doing well". Good news, no doubt.
At least, the results sound a lot better then some thought. With some relief, media across Europe announced "only seven failed". Yet most European print media mainly showed doubt about the credibility of the exercise. A similar test last year on 19 banks int the US gave a red card to 10 American colleagues. But the check up was not the same, and this one was widely criticized as being too weak.
If you want to check for a blood ilness, it is not enough to look into the throat of a patient and ask him to say 'AAA'. Clearly, the test was designed to show the world that a full-blown euro crisis would not topple the local banks, calm spirits and regain confidence of investors. A charm offensive, in short. Too weak, too little, etc.
Maybe so. But still, from an image point of view, this is a good move, bringing good news. At least it is news that is not built on lies, as was the case in the Greec drama the world witnessed not so long ago. Combined with the spectacular jump of the German business sentiment in July and the UK growing faster than expected, the mood is up, while the US is showing signs of slowing and the housing market is still suffering. There are still bizarre 'for sale' signs on ebay for both common and spectacular houses in the US. So is it 'Sweet Europe, Sour America?', as Reuters asks?
One thing is clear, you cannot build your house on lies, debts and mortgages. Hard work, honesty and a tight reign on your home economics are the only way forward, for home owners, banks and governments alike. Then all can say AAAh with confidence.
Belgium starts its Presidency of the EU by dancing for Europe.
Crowds gathered in twelve towns across the kingdom to dance to a song of the local group Jaune Toujours. Typical for the land of beer, chocolate and "Manneken Pis", the song "Ici Bruxelles-Brussel hier" had bi-lingual lyrics, reflecting the search for balance between the Flemish and the French. The website www.eutrio.be gives a broad overview of the presidency and the importance for Europe. The name of the site refers to the common work programme with the previous Presidency (Spain) and the following Presidency (Hungary). Or does it indicate the future of Belgium, as a more separate yet unified European country in the heart of Europe with Flemish, French and German further independence and a Brussels DC arrangement? In any case, the more modest ambitions of the Belgian government in current affairs and the well prepared Presidency seem to promise a positive, welcome breathe of Fresh air for Europe. By September a series of initiatives will come to the decision phase, making it an interesting time to follow the proceedings. Presseurope says the relative calm of the new Presidency and the string of "smaller" countries in the EU that will follow will be a good thing for the stability of Europe. Belgium will be succeeded by Hungary, Poland, Denmark, Cyprus, Ireland, Lithuania and Greece for the rotating presidency. That gives a period up to 2014, where the Presidency will most likely not seek to bring about any major changes in European affairs.
For those wanting to zoom in on the content and the news of the Belgian Presidency, the site offer press accreditation, RSS and SMS alert possibilities.
So Belgium leads the dance of the EU, and can show that it remains a stable partner, even in times when it is looking for a new identity and internal structures.
So… is the crisis in Europe over?
Rupert Murdoch made a new bold move that would point in that direction. His News Corp. offers to pay $11.5 billion for the remaining shares of British broadcaster BSkyB. Murdoch as the herald of a sunny new day over the old continent? Michael Corkery at the WSJ seems to imply this in his article "is the Crisis in Europe Over? Just Ask Rupert Murdoch". He reads the big bid as the Aussy tycoon's way of betting that the problems in Europe aren’t so bad as they seem after all. Or on a more sober note, at least it indicates Murdoch believes the crisis will not reduce the Briton's hunger for pay TV consumption, making the bid on one of the largest satellite broadcasters in England and Ireland logical.
The Financial Times calls the move Mr Murdoch’s most significant strategic manoeuvre in years. It quotes a financier with knowledge of the Murdoch move: "By investing in a pay-television business, he is derisking the whole News Corp portfolio away from advertising-dependent businesses”. The FT adds conventional wisdom would suggest to spend the cash in geographic growth markets such as India and Brazil, or in sub-sectors that are riding the growth in internet advertising, education spending or video games sales. Instead, Mr Murdoch is returning to the slow-growing UK market.
So, is Murdoch betting on Europe's recovery? Let's not get our hopes up to high. Theodora Zemek, head of global fixed income at AXA Investment Managers, says in The Telegraph about he Eurozone that having over-riding legal powers "is a precondition for the system to work but it doesn't exist in Europe and the bond markets are starting to figure this out. We are looking at a noble experiment on the brink of failure." The French analysts see it possible that the eurozone would break in half or disintegrate.
Let democracy be our currency! The danger exists that economical problems would destroy the reality of democratic freedom in Europe as a whole and in specific weakened countries, as Barrosso recently warned. Let us all agree that nationalism, selfishness and mistrust are not an option, as says Tahar ben Jelloun on Presseurope:
Regardless of the outcome of this crisis, Europe is no longer a utopia, or a virtual place, but a real entity that is still in the process of construction, which still needs our determined support and good will. Europe is a blessing. The idea that several countries should join together to form a union based on geography, history and on the values of democracy and freedom remains the positive legacy of the Second World War. But does anyone spare a thought for the early years of the union that grew from seven to 27 countries?
Is the love affair between China and Europe in trouble?
At the EU pavilion in Shanghai, the sun is shining on the alliance between the EU and the Middle Kingdom. The European Union shares a pavilion with Belgium at the 2010 World Expo. Under the “Movement and Interaction” theme, the presence is positive and dynamic. After Europe Day on May 9, next Sunday the Belgian Day is on the programme. Prince Filip of Belgium will pay a visit to the event.
But will high hopes, positive thinking and royal visits be enough to maintain the marriage between Europe and China? Under the title “How China walks over Europe”, Presseurop picks up the article of Pramit Pal Chaudhuri of the Hindustan Times. The EU became China’s number one trading partner, but the trade deficit ballooned to nearly 170 billion euros — in Beijing’s direction, the Indian editor writes. The Tibetan riots in 2008 and the disappointing Copenhagen climate summit further tainted the happy couple’s pictures.
What can be done? On foreignpolicy.com Jonathan Holslag of the Brussels Institute of Contemporary China Studies wrote that "Europe cannot back up its soft power with hard economic capabilities" in the green debate. The European Commission must better pool research projects scattered through Europe and persuade member states to do more.
The same applies to diplomacy. Europe should speak in one voice and with one mouth. With a clear position and insight in the logic and culture of the Chinese decision makers. The gap is real. And unity is the only answer. It is a necessity, in facing the growing Chinese dragon. Then the love between China and Europe can pick up and become truly passionate.
