EU summit 22-23 November-David Cameron's mission impossible
David Cameron the British Prime Minister is preparing to call for a spending freeze over the period 2014-2020 in the EU Budget on Thursday 22 and Friday 23 November in Brussels.
Source : https://www.marocafrik.com/english/EU-summit-22-23...
The British Prime Minister has been trying to build bridges with European capitals in advance of the EU summit without much success, Le Figaro notes.He is caught between maintaining good relations with the EU and the Conservative party which is increasingly eurosceptic. His own party, the Conservatives combined with the opposition combined in a vote urging the Prime Minister to demand a cut in the EU budget for 2014-2020.
According to a survey published Sunday The Observer, 56% of Britons would vote for out of the EU if a referendum were held, only 30% want to stay. Britain is closer in mood to quitting the European Union than ever before but the fact is that Europe is Britain's main market. Britain has always thought of the EU a trading block and has never agreed with the concept of political and monetary union.As the EU has slipped deeper into economic crisis Britains have become even more sceptical about remaining in the EU. A referendum is not however due until after 2015 parliamentary elections. If the EU improves its economic position British public opinion may change but the current position and negative attitude will continue to poison EU relations Le Figaro concludes.
The Economist writes that restoring the EU's economy will take years of pain. Whilst Spain,Portugal,Greec and Italy are in a difficult position The Economist thinks that the French economy is the greatest danger for the EU.
It has been losing competitiveness to Germany and the trend has accelerated as the Germans have cut costs and pushed through big reforms. French public spending and debt has increased.TheState's involvement has grown in France to consume almost 57% of GDP, the highest share in the euro zone. Because of the failure to balance a single budget since 1981, public debt has risen from 22% of GDP then to over 90% now.
French firms are burdened by overly rigid labour- and product-market regulation, exceptionally high taxes and the euro zone’s heaviest social charges on payrolls. Over 10% of the workforce, and over 25% of the young, are jobless. The external current-account deficit has grown into one of the euro zone’s biggest deficits. In short, too many of France’s firms are uncompetitive and the country’s public sector is living beyond its means.
The Economist feels that President Francois Hollande is half hearted about reform and his measures such as a 75 percent wealth tax and increased company taxesare preventing growth and encouraging businesses to leave the country. The Socialist party remains hostile to capitalism, It says and other European countries are beginning
to introduce reforms .
The Economist concludes that unless Francois Hollande changes France's State run economy it could threaten the Euro and that hedoes not have much time to defuse the timebomb at the heart of Europe.
According to a survey published Sunday The Observer, 56% of Britons would vote for out of the EU if a referendum were held, only 30% want to stay. Britain is closer in mood to quitting the European Union than ever before but the fact is that Europe is Britain's main market. Britain has always thought of the EU a trading block and has never agreed with the concept of political and monetary union.As the EU has slipped deeper into economic crisis Britains have become even more sceptical about remaining in the EU. A referendum is not however due until after 2015 parliamentary elections. If the EU improves its economic position British public opinion may change but the current position and negative attitude will continue to poison EU relations Le Figaro concludes.
The Economist writes that restoring the EU's economy will take years of pain. Whilst Spain,Portugal,Greec and Italy are in a difficult position The Economist thinks that the French economy is the greatest danger for the EU.
It has been losing competitiveness to Germany and the trend has accelerated as the Germans have cut costs and pushed through big reforms. French public spending and debt has increased.TheState's involvement has grown in France to consume almost 57% of GDP, the highest share in the euro zone. Because of the failure to balance a single budget since 1981, public debt has risen from 22% of GDP then to over 90% now.
French firms are burdened by overly rigid labour- and product-market regulation, exceptionally high taxes and the euro zone’s heaviest social charges on payrolls. Over 10% of the workforce, and over 25% of the young, are jobless. The external current-account deficit has grown into one of the euro zone’s biggest deficits. In short, too many of France’s firms are uncompetitive and the country’s public sector is living beyond its means.
The Economist feels that President Francois Hollande is half hearted about reform and his measures such as a 75 percent wealth tax and increased company taxesare preventing growth and encouraging businesses to leave the country. The Socialist party remains hostile to capitalism, It says and other European countries are beginning
to introduce reforms .
The Economist concludes that unless Francois Hollande changes France's State run economy it could threaten the Euro and that hedoes not have much time to defuse the timebomb at the heart of Europe.
Source : https://www.marocafrik.com/english/EU-summit-22-23...