Dixon: EU-Turkey deal is historic, if it sticks

By Hugo Dixon
November 30, 2015

The EU has dangled the prospect that Turkey can join the bloc, offered to liberalise visas and promised the government a chunk of cash in return for Ankara agreeing to stem the flow of migrants to Europe. The snag is that not all of the pact looks deliverable.

Europe’s terrible banks look their best in years

November 25, 2015

Capital levels, profitability and lending rose in the six months to June, the European Banking Authority says. Bad loan ratios are almost double those of U.S. banks, and more EU quantitative easing could be bad for business. Even so, lenders are proving surprisingly healthy.

Dixon: How the EU could woo the UK

By Hugo Dixon
November 23, 2015

The British prime minister wants to rework the UK’s relationship with Europe. Once complete, other EU leaders could launch a charm offensive to persuade Britain it is valued and influential, and to vote to stay in the union. Here’s what Merkel, Hollande, Renzi, et al could say.

France can afford budget-busting security spend

November 17, 2015

Prime Minister Manuel Valls says the deficit is bound to miss EU targets as security spending rises after the Paris attacks. Brussels is unlikely to kick up a fuss over this exceptional overspending. Nor will investors, who are used to serial French fiscal slippage.

Paris attacks can both unify and cleave Europe

November 14, 2015

Deadly assaults across the French capital have sparked the sort of international solidarity which could help Europe surmount recent acrimony over issues such as migration. But the fears they generate may shape debates about security and cultural integration in ways that divide.

Dixon: Brexit debate should start with trade

By Hugo Dixon
November 9, 2015

The chances of the UK voting to quit the European Union are high. The damage to business if it does leave would be high too. Trade ties, and the difficulty of replacing them from outside the EU, should be front and centre of the debate.

Dixon: EU membership can help UK stability

By Hugo Dixon
October 26, 2015

Bank of England Governor Mark Carney has argued that EU membership is good for Britain’s dynamism but creates challenges for financial stability. While he is right, it also presents opportunities to make the economy steadier. If the UK grasps these, the EU can act as a shock absorber.

Starbucks and Fiat dragged along in fair tax tide

By Edward Hadas
October 21, 2015

The European Commission’s classification of corporate tax favours as unfair state aid makes sense, even if the two companies broke no laws. Corporate treasurers should note the trend. Following bank tax secrecy, corporate tax havens are very gradually heading for extinction.

China is unreliable new best friend for Britain

October 19, 2015

President Xi’s red-carpet reception shows Britain is hungry for Chinese investment and wants a counterweight in tense dealings with Brussels. The catch is that Chinese investment is hard to pin down and the UK has almost no leverage. Europe is the more important relationship.

Dixon: EU needs to up its game on Turkey

By Hugo Dixon
October 19, 2015

The bloc has benefited for years from a stable country on its southeast border insulating it from mayhem in the Middle East. But Turkey is an increasingly leaky and troubled buffer state. This has economic as well as political repercussions. The EU needs to get its act together.