New York Times | The Necessary Empire New York Times The former Byzantine and Ottoman part of Europe the part closest to the Middle East is still the poorest, least stable and most in need of support and guidance from the European Union. Whether Europe remains a secure and prosperous continent, ... |
New York Times | EU Leader Says (in English) That English Is Waning New York Times All that doesn't stop many French speakers from resenting English's primacy, though, nor from hoping that the language might recede a bit after Britain leaves the European Union, the process known as Brexit. That is the sentiment that Mr. Juncker mined ... Speech by Michel Barnier at the 7th State of the Union Conference, European University Institute, Florence Influence of English is fading, says EU chief Juncker UK Prime Minister Theresa May Hits Out at EU officials on Brexit |
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EU Leader Says (in English) That English Is Waning - New York Times
Michel Barniersaid yesterday programmes and schemes could have to be scrapped
THE EU is set for an explosive political crisis if Britain holds firm and refuses to pay a divorce bill, the blocs chief Brexit negotiator said yesterday.
Michel Barnier also has repeated claims that our exit from the bloc will not be quick or painless in a sign thatBrussels are DETERMINED to make us suffer.
And hewarned that there would be political and legal implications if Britain refuses to cough up the cash and that it was incontestable that we would have to pay.
Sky News
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At a press conference in Brussels yesterday he told an audience that it was an illusion to think that things could be wrapped up quickly and that there would be explosive consequences if we didnt pay up.
The news came before Theresa May delivered a damning speech on the steps of Downing Street accusing Brussels chief of meddling in our election.
Mr Barnier was speaking as the EU Commission set out its detailed negotiating guidelines for the upcoming Brexit talks.
He described the bill as incontestable.
Imagine what would happen if this were not to take place, he said.
We have to be rigorous in our approach to clearing these accounts. Otherwise the situation might be explosive if we have to stop programmes. Can you imagine the political problems which might arise?
Brussels are seriously concerned about the cash they will lose when Britain leaves the bloc and there are rumours they will ask us to pay up to 100 billion euros to settle our bills.
But The Sun can reveal Mrs May is drawing up a nuclear option of immediately ending Britains 18bn annual Budget payments if Brexit talks breakdown.
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Mr Barnieralso fired a warning shot at MrsMay: Some have created the illusion that Brexit will have no material impact on our lives or that negotiations can be completed quickly and painlessly. This is not the case.
He said that EU leaders should remain cool-headed in the process, but accused the UK of causing months of uncertainty that needed to be eradicated.
And he stated that there WOULD be consequences for us as a result of leaving and that there was a legal process that had to be agreed to cover all the technical points of our exit.
David Davis yesterdayREFUSED to pay up to100 BILLION for a Brexit divorce bill.
The Brexit Secretary said this morning that the UK did not recognise the figure which is claims is just to settle the UKs part in promised money.
Mr Barnier insisted yesterdaythat the UK had material commitments and future projects it had agreed to fund already. Those commitments will have to be honoured, he said.
And after an audience with the Queen yesterday afternoon, Mrs May launched a scathing attack on EU chiefs.
In a moment of high drama, she slammed the former Luxembourg premier and other euro elite for deliberately timed threats and smears on her Tory government to try to influence the elections outcome.
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Yesterday's comments were the latest in an escalating tensions between Britain and the EU.
Last week Mrs May hit back at Angela Merkel's description of our Brexit plans as an "illuion" as tensions continued to escalate.
The Prime Minister said the 27 nations were "lining up to oppose us" which would bring instability to the country.
Over the weekend EU sources leaked details of a dinner between EU chief Jean Claude Juncker and Mrs May in Downing Street where he said that Brexit "cannot be a success".
Mrs May insisted the UK does not owe the EU any money because there is nothing to that effect in the treaties - but Mr Juncker said she was "in another galaxy".
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Mr Juncker said the UK would not get a trade deal then but Mrs May has repeatedly insisted leaving the EU with no deal would be better than taking a bad deal anyway.
The President of the European Commission reportedly then told Mrs May as he exited: "I leave Downing Street ten times as sceptical as I was before."
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European Union set for 'explosive' political crisis if Britain doesn't cough up billions for a divorce bill, chief ... - The Sun
LONDON
The European Union said Thursday that it's preparing new regulations that could force a key financial market and potentially thousands of jobs to move away from London once Britain leaves the bloc.
The EU Commission said it will present next month new rules on the oversight of this market, the so-called clearing of euro-denominated trades.
In financial markets, clearing is the business of acting as an intermediary in a trade to reduce the risks from defaults by ensuring funds are delivered to the seller. Some 75 percent of euro-denominated interest rate derivatives are cleared in the U.K. and tens of thousands of jobs depend on the business.
Some European authorities want this euro-clearing business to be located in a country in the EU, as the bloc is tightening its oversight of banks and financial services in the wake of the financial crisis.
When asked Thursday whether clearinghouses would be forced to leave the U.K. if they wanted to continue handling euro-denominated trades, Commission Vice President Valdis Dombrovskis said the EU was "looking at this issue."
"Of course, in a context of Brexit we see that the situation is changing," Dombrovskis told reporters in Brussels. "The bulk of EU-denominated derivatives are cleared in the U.K., and therefore we need to assess what implications it has for financial stability."
While the commission did not specify what the new rules would be, it expressed concern that after Brexit a "substantial volume" of euro-denominated transactions would be cleared outside the EU, meaning they would not be subject to the bloc's regulations and supervision.
The commission said it wants to ensure clearinghouses are subject to the "safeguards provided by the EU legal framework" in areas where they play a key role in the stability of financial markets and monetary policy.
Talks on separation
The statement comes as the EU and Britain begin two years of complex negotiations over the separation of two economies that have been intertwined for more than 40 years. A German newspaper reported Sunday that European Commission President Jean-Claude Juncker said British Prime Minister Theresa May was in a "different galaxy" in her expectations for Brexit. May yesterday accused EU officials of making "threats" to influence next month's general election in Britain.
Treasury chief Phillip Hammond said Britain would consider any proposed clearing regulations but that the EU must be careful not to disrupt growth and investment in the U.K. and Europe.
"London is the world's No. 1 financial center, with high standards of financial supervision, including long-standing cooperation with EU institutions," Hammond said. "This benefits the entire continent. We trust everyone in the negotiations will see the value in not undermining that."
TheCityUK, which lobbies on behalf of Britain's financial services industry, was more blunt.
"A forced relocation of euro-clearing would lead to disruption, uncertainty and fragmentation of the market," Chief Executive Miles Celic said in a statement. "A potentially less liquid and less competitive EU market would result in higher costs for European savers and investors. This would ultimately be detrimental to people and businesses in Britain and in Europe. This is in no one's interest and is entirely avoidable."
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EU Weighs Rules That Could Move Thousands of Jobs From London - Voice of America
It was a deft jibe, emasculating Macron, and at the same time playing into her supporters' fears of a France crushed by a German-dominated Europe.
It would have resonated in Brussels, too, where the prospect of a Le Pen presidency brings eurocrats out in cold sweats. During the campaign, Le Pen has railed against an imperious EU, suggested France would leave the euro, and promised to hold a referendum on France's continued membership of the bloc.
Such an outcome on Sunday would send shockwaves through the EU, already battling to maintain a united front against a belligerent Britain even before formal Brexit talks have begun.
The fear in Brussels is that President Le Pen, emboldened by Theresa May's hardline Brexit in the UK, will make plans for Frexit as soon as she is able. But unlike Brexit, which involves the departure of already semi-detached nation outside of the border-free Schengen area and the euro, the departure of France, one of the political and economic powerhouses of the EU, would surely spell the end of the bloc.
But even a Macron victory would have ramifications far beyond France's borders.
On the face of it, a Macron presidency should bring sighs of relief in Brussels. Macron, a former economy minister under Francois Hollande, is an outward-looking, economically liberal veteran of the Brussels ministerial meeting circuit.
As a result, Macron gave an interview on Monday calling for reform of the EU, warning that it would be a "betrayal" if the bloc continued as it was and that a failure to reform would hasten a "Frexit".
Of course, it helps Macron to appear more Eurosceptic as he goes up against Le Pen
But this is more than just an empty threat - it is likely that once established in the Elysee, Macron will go ahead with pushing for reform.
A victory for Le Pen on Sunday would by no means guarantee France's departure from the European Union. For one thing, she has stepped back from a hardline position as she has sought to extend support from beyond her base.
In any case, membership of the EU is embedded in the French constitution and Frexit would need the approval of the French national assembly, which would almost certainly block the move.
But a Le Pen presidency would result in a hardline Euroskeptic Elysee squaring up against Brussels, making trouble for the future stability of the bloc.
Even if she is unable to implement Frexit, Le Pen could call a referendum on the euro -- which she has described as a "weapon in the hands of the European Central Bank" - and press for France to withdraw from the border-free Schengen area.
After the spate of terrorist attacks in Europe, several countries including France imposed border controls and under the terms of the Schengen Agreement, these can be extended to two years in exceptional circumstances -- a move President Le Pen would likely instigate.
Axelle Lemaire, a French Socialist MP and minister in the current government, said the election had given voters the opportunity for a "real debate" about the future of the EU and France's place inside it. She said: "Between the two rounds each candidate tries to attract the largest majority of voters possible, and so it is not surprising to hear Marine Le Pen talk about how there could be 'co-existence' between the two currencies.":
"Emmanuel Macron is becoming more vocal in his criticism of the EU. He is still a strong supporter of the European project and its ambition but he has been critical of its transparency, democracy and efficiency and whether it is creating jobs and prosperity."
Lemaire said that even if Macron wins on Sunday he would still be keen to have a reformed EU.
"I think he is sincere in his request for reform. It is not possible to accept the situation as it is, and people don't accept it as it is. So this means dealing with Germany, especially if it is run again by Angela Merkel, by saying 'let's try to re-instill ambition in the European project'. I think he will carry out a reform agenda."
Whoever wins, either Le Pen or Macron as president could use the Brexit process to shoe-horn changes to its relationship with the EU, by tacking on demands during the EU27 negotiations. Without a doubt, a Le Pen victory poses the greater threat to the future existence of the EU. Yet even if Macron triumphs, it is clear that the EU will not be able to dodge significant reform for much longer.
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The French presidential election spells trouble for the EU -- whoever wins - CNN