Germany's finance minister Wolfgang Schaeuble said there has
been considerable progress with Greece but no deal has yet been done. He added
that Greece must meet conditions before the next trance of its bailout can be
paid. He said it was unlikely that the Eurogroup would receive the Troika report
on Greece before 11 November. He added that there were also no concrete deals
wit Cyprus yet and he did not expect them to start before next year.
Jean-Claude Juncker, leader of the eurozone finance
ministers' group, called on Greece to solve the remaining issues it has with its
international lenders and said the Eurogroup would look to conclude talks on the
Greek loan program on 12 November. He added that the conclusion of talks with
Greece hinged on Athens implementing agreed reforms before the deal was made.
That statement from Jean-Claude Juncker, Eurogroup president,
has now been published. Here's what he had to say: The Eurogroup took note of
the progress made towards a full staff level agreement between Greece and the
Troika on updated program conditionality, including ambitious and wide-ranging
measures in the areas of fiscal consolidation, structural reforms, privatization
and financial sector stabilization. We called on the Greek authorities to solve
remaining issues so as to swiftly finalize the negotiations with the Troika
institutions. The Eurogroup expects to further discuss the Greek
adjustment program at its next regular meeting on 12 November on the basis of
the relevant program documentation and seek to conclude on the program, subject
to the completion of prior actions by the Greek authorities and of national
procedures in Member States, in line with the established practice.
The U.K. coalition government has suffered its first significant Commons
defeat as MPs voted by 307 to 294, majority 13, to back a Tory rebel call to cut
the EU budget.This vote is not binding on ministers. But it is
nonetheless a major embarrassment for ministers. So, the EU and the evil corrupt
politicos who run it. Razor's principle: All things being equal, the simplest
explanation tends to be the truth.The EU is a massively complex and expensive
mistake. It is a fundamental falsehood and the lies are wearing thin. So now the
greatest democracy in the world has dealt a serious blow to this behemoth and
like biblical prophets of old have drawn a line in the sand from which the
nations of Britain can reclaim sovereignty. I hope that the UK gets its
referendum and finds a way out of this EU.You could build up an example, that
life outside this mess is better and bring it this way to a collapse. At least
the EU-skeptical Scandinavians would follow soon.The wealth and cultural
richness of this continent was the result of (peaceful) competition and search
for better solutions in smaller units and not of an gigantic federal state, that
will destroy all differences. The EU can not be Europes answer to the
globalization, it will just accelerate its decline.
Germany's finance minister Wolfgang Schaeuble said there has
been considerable progress with Greece but no deal has yet been done. He added
that Greece must meet conditions before the next trance of its bailout can be
paid. He said it was unlikely that the Eurogroup would receive the Troika report
on Greece before 11 November. He added that there were also no concrete deals
wit Cyprus yet and he did not expect them to start before next year. 
Jean-Claude Juncker, leader of the eurozone finance
ministers' group, called on Greece to solve the remaining issues it has with its
international lenders and said the Eurogroup would look to conclude talks on the
Greek loan program on 12 November. He added that the conclusion of talks with
Greece hinged on Athens implementing agreed reforms before the deal was made.
That statement from Jean-Claude Juncker, Eurogroup president,
has now been published. Here's what he had to say: The Eurogroup took note of
the progress made towards a full staff level agreement between Greece and the
Troika on updated program conditionality, including ambitious and wide-ranging
measures in the areas of fiscal consolidation, structural reforms, privatization
and financial sector stabilization. We called on the Greek authorities to solve
remaining issues so as to swiftly finalize the negotiations with the Troika
institutions. The Eurogroup expects to further discuss the Greek
adjustment program at its next regular meeting on 12 November on the basis of
the relevant program documentation and seek to conclude on the program, subject
to the completion of prior actions by the Greek authorities and of national
procedures in Member States, in line with the established practice. 
5 comments:
survey out today is bleak reading for middle-class households in the UK, which face “unprecedented” cuts to their standards of living by the end of the decade,
According to the Commission on Living Standards Even as the economy recovers, a typical household is expected to be £800 a year worse off in 2020 than they were in 2008, according to leading economists, business figures, academics and campaigners.
A decline in the number of middle-ranking jobs, the economic “crunch”, and high unemployment among women and older people are to blame for the “bleak” forecasts, the report said.
"The Governing Council, within its mandate to maintain price stability over the medium term and in observance of its independence in determining monetary policy, may undertake outright open market operations of a size adequate to reach its objective, " Mr Draghi said after the bank kept euro zone interest rates at 0.75 per cent.
"The Governing Council will consider further non-standard monetary policy measures according to what is required to repair monetary policy transmission. In the coming weeks we will design the appropriate modalities for such policy measures."
The government has been defeated in Parliament on the EU budget after 53 Conservative MPs defied their party over the issue.
Tory rebels joined with Labour to pass an amendment calling for a real-terms cut in spending between 2014 and 2020.
The coalition says the budget must be frozen in real terms as a very minimum.
The amendment, passed by 307 votes to 294, is not binding on ministers, but is a blow to David Cameron's authority on Europe before key talks next month.
The defeat, the most significant since the coalition came to power in May 2010, came despite efforts by ministers to woo rebels and Mr Cameron earlier saying he would veto any budget deal if he could not get a good deal for Britain.
The rebel amendment calling for a real-terms reduction in EU spending was passed after a stormy debate in Commons on the 27-member union's next seven-year budget and UK contributions.
The European Commission's proposed budget for 2014-2020 would see a 5% increase in spending on the current seven year period.
"If you think the EU has too much money, its budget is too large and it needs to be cut, then vote for the amendment," Conservative MP Mark Reckless, who spearheaded the rebel position, told MPs.
After the vote, Mr Reckless told the BBC that the UK was "fed up" of giving more money to the EU every year and MPs had made clear a budget cut was the "only thing" they would accept.
"What this is about is our constituents' money," he said. "Parliament has spoken very clearly that unless there is a deal which is a cut in the budget which gives money back to taxpayers in this country, it will not get through Parliament."
It was "hard to see" other EU nations agreeing to cut spending since most were net gainers from the budget, he added: "Yes, we would love it if that budget went down but all the other countries have a veto as well."
And he rejected suggestions that the defeat showed the government's weakness over Europe and the leadership's inability to control its MPs.
"I would say a government that is trying to deliver the toughest budget settlement in Europe in history is strong and purposeful and doing the right thing for the country."
He also accused Labour of "very cheap politics" by voting for a budget cut after supporting huge increases in EU finances over the last decade.
But shadow chancellor Ed Balls said there had been cross-party support for the idea of reducing EU expenditure at a time of austerity at home.
"It is not about party politics, it is about the national interest. Parliament has spoken and David Cameron has got to listen and deliver.
"He has to put the national interest first if he is strong enough. I fear he may be too weak."
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