After five months of struggling to stay afloat in the quicksand of a debt crisis, Greece has finally asked the European Union and the IMF to throw it a lifeline.
Global News Journal
If Europe’s lobbying register is correct, oil giants like Shell and BP are spending just a few hundred thousand euros a year on EU lobbying, sums that are dwarfed by the millions they spend across the Atlantic.
The so-called “vertical restraints block-exemption regulation”, unveiled on Tuesday, set down new guidelines for online retailers who don’t operate a ‘bricks-and-mortar’ outlet. In doing so, it sought to resolve a debate that has been going on for years between luxury brand retailers such as Gucci and Chanel and discounters who sell big-name brands more cheaply from warehouses over the Internet.
It was no great surprise that the managing director of the International Monetary Fund looked perplexed when asked during a visit to Brussels to comment on proposals to create a European monetary fund.
As the new European Union executive prepares to debate fresh policy proposals which might unblock the stalemate over approving genetically modified crops for feed, processing or cultivation, there are few signs that Europe’s fears over what some have termed “Frankenstein foods” are easing.
Every new year brings resolutions, and the European Parliament is no exception.
Often derided as a multi-lingual talking shop, the institution is feeling newly invigorated by some fresh faces and by the European Union’s Lisbon reform treaty, which came into force late last year and gives the 736-member parliament more say in drafting laws and acting as a check on legislation.
So there’s no question Greece has work to do to improve its bookkeeping.
Not only must it get spending in check, but it needs to be a bit more honest about where its finances stand in the first place. After all, it’s not often an EU country says one month that its budget deficit is a little over three percent of GDP and admits a few weeks later that, oh dear, it’s actually nearer 13 percent.