BNE Blog

Cameron is right about Turkey

By Phillip Souta

Roland Rudd

The Prime Minister was absolutely right to say that the EU needs to let Turkey make greater progress towards joining the EU.

Eventual Turkish membership would give a great boost to the EU’s Economy.  The Prime Minister pointed out that Turkey grew at a rate of 11% at the start of the year, and is estimated to become Europe’s second largest economy by 2050.  The single market, investment and the demographic balance of the EU would all benefit from Turkish membership.

Opponents say that Turkey is not geographically or culturally European.  Many who advance these arguments use them as a mask for their real objection: they don’t want a Muslim country in the EU. Read full article »

July 29th, 2010 | Posted in European Politics | No Comments »

The Single Market – the UK can give it a second wind, and help Europe grow

By Phillip Souta

Phillip Souta

“What we need are strengths which we can only find together … We must have the full benefit of a single large market.”  These are the words of Margaret Thatcher, spoken in 1986 as Prime Minister, emblazoned on the first page of Mario Monti’s report, published this May, on “A New Strategy for the Single Market”.

The publication last Friday of stress tests of 91 banks, and the generally favourable market reaction this week to the results, marks a watershed for the Eurozone – it has survived the biggest crisis that is has faced, and dealt with the immediate challenges of first, not breaking up and second, finding ways to shore up the finances of its more troubled members. Read full article »

July 28th, 2010 | Posted in Economy | No Comments »

The Common’s European Scrutiny Committee – Process, Politics and Bill Cash

By Phillip Souta

Phillip Souta

The European Scrutiny Committee (ESC) is one of the most important committees in the House of Commons.  It has more staff and MPs than any other departmental select committee.  It scrutinises some 1,000 European Union “documents” – draft regulations, directives, Council decisions, budgetary documents – every year.  It is highly visible on the European stage as it liaises with other member state European Scrutiny Committess under COSAC - the Conference of Community and European Affairs Committees of Parliaments of the EU.

It’s looking increasingly likely that the chair of the committee is going to be one of its most long-standing members – Bill Cash, Conservative MP for Stone.  He was nominated unopposed by the 1922 committee of backbench Tory MPs, and it’s the Conservatives’ turn to chair it.  Barring a last minute realisation on the part of the Tory party that this would be a very bad idea indeed, he will likely be ensconced in that position next Wednesday 21 July for the next five years. Read full article »

July 15th, 2010 | Posted in UK Politics | No Comments »

Germany admits it needs to boost domestic demand

By Phillip Souta

Phillip Souta

“Most of my British friends drive German cars. Stop buying them, I tell them – you’re contributing to economic imbalances in the eurozone!” Dr. Markus Kerber, the Director General of Fiscal Policy and Macroeconomic Affairs at the German Ministry of Finance opened a speech at a BNE / German Embassy roundtable, on 29 June, on the vices and virtues of the German economy with a jab at the critics of Germany’s export-led economic model.

He went on, however, to give what was perhaps the most unlikely speech one could imagine from a German government official.  And that from the man occupying the post which is said to always embody whatever-is-current German thinking on all things macroeconomic. Read full article »

July 1st, 2010 | Posted in Economy | No Comments »

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