Nobel Prize Economics 2010

On the 11th of October 2010, 3 economists were rewarded by the nobel prize economics. Two of them are american, and the last one is british and cypriot. Those two nationalities are a strong symbol for the European Union. Indeed, England entered the EEC (former EU) in 1973 and Cyprus entered the Eu in 2004. In a way, Christopher Pissarides is tracing the history of the EU construction through his prize. Indeed, C. Pissarides is a well-known academic at the London School of Economics, but he was born and raised in Cyprus and studied in Greece until he got to England. He embodies the European self-made who took advantage of the european wealth regarding cultural patrimony. For example, Mr Pissarides speaks Greek, Cypriot, English and French. His research interests focus on several topics of macroeconomics, notably labour, economic growth, and economic policy. It shows how much the european identity is at the core of global problems cause the EU is a member of the Triade. That's why we need to feel concerned by events taking place on a global scope because our politics and economics role is such an absolute necessity. Otherwise the industrialised world would rather go round in circles or would be just ticking over.
The primacy of the European Union is a privilege we need to maintain.

British Election

British Legislative Election Video

Here is a video from BBC news dealing with the coalition Cameron-Clegg

http://news.bbc.co.uk/2/hi/uk_news/politics/election_2010/8678621.stm

DRAMATIC CONSEQUENCES ?

Thousands of greek citizens have demonstrated to express their feeling towards the economic crisis. These violents riots in Athena streets necessitated a police intervention to pacify. Unfortunately, more than 10 people died because of those disturbances.

THE GREECE BANKRUPT

Greece knows an awful economic situation today. Indeed, Greece needs a financial rescue from European Central Bank, International Monetary Fund and Eurozone members to finance her debt.

European finance ministers endorsed the draft deal to provide a €110 billion bailout loan. Two thirds of this amount of money will come from eurozone members and the rest from IMF. Greek finance minister, Andreas Papaconstantinou prepares the Greeks to make big sacrifices on the next three years to restore the economy. He said:"the choice is between collapse or salvation". The Greek Prime Minister announced budget cuts of €30 billion for the next three years. Besides, the country's deficit is about 14% of GDP, (10% more than ECB legislation) and the deficit is more than 150% of GDP.

The three-year programme would back the deficit to 2,6% by any means necessary. Salaries and pensions in the public sector will be frozen, VAT will rise from 21 per cent to 23 per cent and duties on fuel, cigarettes and alcohol will rise by 10 per cent. Early retirement will be curtailed. All these new austerity measures will enable "Greece not to go bankrupt" said George Papandreou.

The problem is the greek bankrupt could generate a financial firestorm across Europe: destroying confidence in the Euro, devaluation of this currency... Therefore all european countries are concerned to provide the market and the protection of the eurozone, Greece is not solely implicated in this problem. By the way, German Chancellor, Angela Merkel, said that "the loan was the only way to ensure the stability of the euro".

Portugal seems to be the other "pig" of the eurozone, according to anglo-saxon medias. But Portugese expenses are justified by the world economic crisis that made her economy plunge, contrary to Greece which disburses "illegaly".

As a matter of facts, European Finance ministers thought that Eurozone members that appear like a threat to the salvation and the prosperity of the Euro market, will be ruled out.

Nowadays, many states are in debt because they try to save their financial system. In the one hand, countries could be more connected and united by this european crisis, but in the other hand, it emphasizes the fact that we need a better economic and financial european governance.

STRASBOURG: A EUROPEAN CITY

EUROPEAN INSTITUTIONS (VISITED)

I/ The Council of Europe (located in Strasbourg):

-Founded on the 5th of May 1949, this council is composed of the 47 european nations and seeks to develop democratic principles and Europe common. This council aims to improve the European Convention and Human rights (and many other references); a European cultural identity then cohesion and social rights. This council has 5 observers which guarantees
-The symbols are the European flag (12 stars embodying the purity and perfection), the European anthem (extracted from "Rapsodie sur l'hymne européen"-Christophe Guyard), and the European logo.

-The council of Europe gathers many branchs (3 principal branchs)

--> The parliamentary assembly (318 members)- Its members are delegates appointed by parliaments of each states. The number of delegates per state is proportional to the population of a state. For example: Germany is the most represented states because of his 83 million-people population.
The type of vote is the quality majority voting. In the hemicycle, delegates are installed according to their nationalities. This assembly is the deliberative body wich establishes and initiates many treaties for a European wide-sytem of legislation.

--> The committee of Ministers- comprising the Foreign Ministers of the 47 members states (or their diplomatic representatives). They decide Council of Europe policy, plan the budget (approximately 205 000 000 € in 2009) and programme of activities : this is a decision body.

--> The European Court of Human Rights- controls the respect of rights safeguarded by the European Convention on Human Rights in all states. This branch concerns states and inviduals regardless of nationalities. Thanks to this court: a european citizen is able to press charges to the state in which he lives. That's a renewal in the european juridic aspect.

--> Many other activites concerning cultural and historic heritage, education for democratic citizenship etc...

II/ The European Parliament (founded in 1950)

-Firstly, the European Parliament takes part in the EU (European Union) and not in Europe.
- The Members of Parliament (MP) are directly elected by citizens of the EU. There are 736 MP in the hemicycle which are gathered according to their political party (seven groups). Moreover, a proportionality exists between the population of a state and MP representing this state in the hemycicle. (Ex: France has 72 MP). Jerzy Buzek is the new president of the Parliament since 2009.
-3 places for the parliament : Luxembourg (administration), Bruxelles (preparation and plennary sessions) and Strasbourg (plennary session). During a month, the MP work 3 weeks in Bruxelles, and 1 week in Strasbourg for the plennary session ..
-The parliament has 3 essential roles :
--> To exercise the legislative power (shared with the council of the Eu) : on political problems and domains, when legislative actions are voted in order to guarantee the democratic legitimacy of the European right. "CO-DECISON"
--> To exercise the democratic control: on all european institutions, especially on the commission.
--> To exercise the budgetary power: on the total Budget with the Council. It influences the EU's spends. Budget: approximately 180 Billions Euros.

Treaty of Lisbon (2)

According to this article tackling with the "Treaty of Lisbon", Ireland had rejected this treaty in June 2008 (54,3% of Irish said "NO") but the new referendum established in October 3rd make the Irish say "Yes". In fact, "Treaty of Lisbon" is a simplification of Rome and Maastricht Treaties, which hasn't been adopted by all Members of the European Union actually (especially Czech Republic in which EU puts pressure in order to convince Vaclav Klaus to sign it). This "Treaty of Lisbon" is going to establish new european institutionnal laws, and is a real turning point of the renewal of the European Institutions. Thus, all European citizens are concerned by this foundamental treaty. The 27 nations must ratify this treaty before the end of the year in order to avoid a blockade of this renewal process.

A. Galudec