For and against the “Declaration”. The results of the informal European Council of 30 January are already influencing certain behaviour in the political and financial worlds. The adoption of the budgetary pact by an overwhelming majority of member states (25 out of 27) did not meet with a warm welcome everywhere; there was much criticism, particularly within the European Parliament (but in the minority, overall). We could say as much about the other major document which was approved by the summit: the Declaration on growth and employment. Our bulletin yesterday amply reported on the reactions of the EP political groups to the latter of these texts - reactions which were mostly hardline and, in some cases, very negative. It is, obviously, our duty as journalists to report on all positions. But the reader should bear in mind that any parliament decides by majority and in the EP the majority group is the EPP. It is hard to understand the orientations of the EU if one neglects political reality, as determined by the people. Allow me to explain.
The weight of the EPP. The democratic Europe which fights for election results to be upheld on all continents cannot ignore them at home. According to the calculations of my colleague Maroun Labaki, the “large centre-right political family, the EPP” has the majority at the European Parliament; 17 out of 27 members of the European Council (heads of state or government) belong to it; the presidents of the European Council (Mr Van Rompuy) and Commission (Mr Barroso) are EPP, as are 13 European commissioners out of 27.
Major shared objectives. It has to be stressed that in the vast majority of cases, the European institutions are currently all heading in the same, or at least similar, directions. Economic recovery is the priority and under this heading, youth employment is everybody's main goal. It is quite to be expected, and even a positive thing, that a number of political forces see current efforts as insufficient and for them to be challenging certain points, and it is absolutely logical that the unions are protesting. But, a few pages further on, our bulletin also reported on operational initiatives which will allow several billion euros immediately to be earmarked for programmes aiming to create jobs for young people, projects which will be brought into being largely by small and medium-sized businesses (SMEs). I repeat Mr Barroso's comment: “there are 23 million SMEs in the EU; if each one of them hires an unemployed person, all young people, and more, will have a job”. These initiatives, furthermore, have absorbed the incentives and orientations of the president of the European Parliament, Martin Schulz, and of Danita Hübner, chiar of the parliamentary committee on regional development.
Developments. It is worth noting a few developments, outside or on the sidelines of the EU institutions:
(a) Several banks or banking organisations are targeting their publicity towards claiming that their activities consist exclusively of funding the real economy: loans to businesses (especially SMEs) and to young people wanting to set up a business. Speculation on financial operations? Not us, honest.
(b) The trial of Kweku Adoboli is in session. This is the trader in the London office of the Swiss bank UBS who lost his bank $2.3 billion through his activities between October 2008 and September 2011. He has put in a plea of not guilty to all charges. A preliminary hearing will take place on 9 April for the presentation of documents; the debates of the trial will start on 3 September. It is not known whether between now and then, Mr Adoboli and his bank will try to reach a compromise to stop too much light being shed on the controversial operations which go on in the City of London.
(c) The row over the Tobin tax goes on behind the scenes, with the four positions remaining immovable: proposal of the European Commission in favour of a “European tax” to apply in 2014; positive decision announced by Mr Sarkozy on behalf of France; favourable position of Dr Merkel to apply it to all 27 within the EU (therefore including the United Kingdom); resounding no confirmed by David Cameron, who rejects it with all his might, unless it is to apply globally. But experts are talking about the possibility of compromise, based on the details and actual content of the tax… (FR/transl.fl)