“What’s in a name?” asked love-struck Juliet by way of justifying her love for Romeo, whose Montague family was so loathed by the Capulets.
Global News Journal
Credit rating agencies cannot win.
They were blamed for carelessness before the crisis, handing out over-generous ratings on the packets of mortgage-backed securities that subsequently unravelled, sending the global economy into a spin and leading to Lehman Brothers collapse. Now they are being criticised again, this time for being too cautious, by dishing out rating downgrades to countries in Europe being sucked into Greece’s debt crisis.
The surge in the spread of Greek bond yields over German ones since European leaders issued a promise of emergency loans to Greece last month indicates financial markets do not believe the pledge of euro zone support is anything more than a bluff.
If this morning’s flight from Brussels to Dublin is an indication of how Irish people will vote in Friday’s referendum on the EU’s Lisbon reform treaty, then the result will be an emphatic Yes on Saturday afternoon when the final results are expected to be known.
Pat Cox, Joseph Borrell, Hans-Gert Poettering and now Jerzy Buzek. What do they have in common ? For those outside the EU bubble in Brussels, Polish conservative Buzek was elected on Tuesday as the new president of the European Parliament, following in the footsteps of the others mentioned above.
But does anyone really care ?
I asked on Facebook if anyone could name the previous two presidents and from those of my friends who do not work in any of the European Union institutions, I received numerous responses ranging from Barack Obama to Seamus & Sheila McSpud.
Barely noticed, the United States sent a top diplomat to Europe this week to seek help on an important commitment by President Barack Obama — to close the Guantanamo Bay prison.
The trip by veteran envoy Dan Fried to Brussels and Prague is part of efforts to persuade European states to take in some of the 241 remaining detainees at the prison, synonomous for many with rights abuses in the “war on terror” under U.S. President George W. Bush.
Europe has long called for the jail to be shut down, but only a few countries — such as France, Portugal and Albania — have volunteered to resettle any inmates from third countries such as Afghanistan or China.
Time is steadily running out if Obama is to achieve his goal of clearing and closing the prison by next January. A perceived lack of European help could sour the much-vaunted new start in transatlantic ties which both sides say they want.
But many European officials are asking why they should help the United States out of a hole it dug itself into.
The main problem does not involve the small number of so-called high-value terror suspects in the camp — they will remain in detention and Washington does not seriously expect anyone to come forward and take them off its hands.
Nor does it involve the 17 detainees who have already been cleared for release. The really hot issue is the fate of the remaining detainees who are not high risk but have not been given the full all-clear.
European officials fear the affair could turn into a legal and political nightmare. Who will take which detainees? Given that much of Europe is now border-free, how will one country reassure its neighbours if it agrees to resettle inmates? And doesn’t the fact that European states have different national policies on surveillance and detention pose extra problems?
Worse still, the political fall-out could be devastating. If , for example, a former Guantanamo Bay prisoner carried out an attack in Germany just before an election this year, how would Chancellor Angela Merkel explain it to voters?
German Chancellor Angela Merkel sent a clear “I told you so!” to the United States and Britain at the weekend, criticising them in unusually frank terms for resisting measures that might have contained the current financial crisis. The conservative leader of Europe’s largest economy reminded her partners that she had pushed for steps to boost the transparency of hedge funds during Germany’s presidency of the Group of Eight last year. “We got things moving, but we didn’t get enough support, especially in the United States and Britain,” she told the Muenchner Merkur newspaper. Merkel expanded on her point in a speech in Austria, suggesting that both Washington and London were only now coming around to her view.
Imagine driving a car with 27 people on the back seat trying to steer. That’s the image Peter Mandelson painted of his role negotiating at the World Trade Organisation on behalf of all European Union countries – some of which are not entirely supportive of the way he is taking things.