BEPA monthly brief

Euro-pessimism is not of recent vintage; it has alternated with periods of high confidence in the European project during the past decades. Jean- Jacques Servan Schreiber’s “Le Défi Américain” in the late 1960s, Michel Albert’s “Capitalism against Capitalism” in the early 1990s, Hans Werner Sinn’s “Ist Deutschland noch zu retten” and Nicolas Baverez’s “La France qui tombe” a few years ago, epitomize our fears that Europe is a loser in world competition. Even though some of those fears proved overblown, they often served as a stimulus for further EU action.

Article available only in Romanian

Ziarul Financiar, 19.10.2009

***
Utilizarea fondurilor europene a devenit o obsesie in Romania; este asa si in alte tari nou-intrate in Uniune (NMSs), mai ales in conditiile unei recesiuni extraordinar de severe. Desi am mai abordat aceasta chestiune in paginile ZF, doresc sa aduc accente noi, impuse de derularea crizei.

Available only in Romanian, Ziarul Financiar, 16.11.2009

****
Criza internationala a curmat inalta crestere economica a Romaniei din ultimii ani; criza a reliefat slabiciuni majore ale economiei autohtone, care erau oglindite de deficite bugetare structurale mari (de peste 5% din PIB in perioada 2006-2008) si dezechilibre externe de doua cifre (amintesc ca dezechilibrul structural este ocultat de o crestere economica peste potential, ce aduce incasari bugetare aditionale numai temporare).

The president of the EC, Jose Manuel Barroso, has put under public scrutiny the draft of Europe 2020 strategy. Its main objectives focus on increasing employment and reducing poverty, improving the educational standards and bolstering the support to research and development, dealing more effectively with climate change and modifying the energy consumption and production patterns in Europe; the bottom line would be achieving “smart growth” and higher competitive strength in the global economy.

Daniel Daianu took part at the 12th CEI Summit Economic Forum (SEF)on 12 November 2009, in Bucharest, Romania.

During this conference, Daniel Daianu presented the topic: "Revisiting the growth model in Central and Eastern Europe".

Find here the presentation

Speech (Written statement, rule 142.7), 11 March 2009, Strasbourg
Debate on the report "European Economic Recovery Plan"

***

Comissioner Joaquín Almunia has said recently that eurozone-member countries, which face big difficulties, could benefit from assistance from other EU members. Why this indication of collective response is not firmly signalled to non-eurozone NMSs?

Article published by the European Voice
07.05.2009

***

The demise of investment bank Lehman Brothers is seen by many analysts as the event that brought the confidence crisis in world financial markets to a head. Although the financial crisis erupted almost a year earlier, the demise of Lehman Brothers seems to have been the tipping point into a worldwide recession.

On 28 May Daniel Daianu gave a speech at the roundtable "Never Again: the Shape of a new global
Financial Architecture", co-organised by Friends of Europe, the Financial Times, the Kiel Institute
for the World Economy and the European Financial Services Round Table

Article published by the European Voice, 24 June 2009

****
An approach that held sway for decades may have been blown away, but its supporters are fighting a rearguard action.

6 July 2009, Brussels

*****

Dear Commissioner Kroes,

I am stunned to find out that the Commission is against Romania’ intention to increase the capital of its state-owned bank CEC.

Daniel Daianu, article published in the European Voice
05.03.2009

In order to reform economic systems around the world and prevent a repeat of the current crisis, the financial industry needs to embrace certain key principles.

17 February 2009

***

In a timely workshop held on 17 February in the Economic and Monetary Affairs committee of the European Parliament, MEPs examined the effects of the current financial crisis on the non euro-zone new Member States. The seminar was held just as financial turmoil is enveloping these countries of central and Eastern Europe, with banks collapsing and unable to access capital from western sources, equity markets collapsing and credit rating agencies downgrading their assessments.

12 February 2009

***
Press release by:

Daniel DAIANU, MEP (ALDE, RO)
Zsolt BECSEY, MEP (PPE, HU)

Following the appeal made by several large European banks* which operate in the New Member States (NMS) to the European Commission and the European Central Bank to extend their policies for easing liquidity shortages and reviving lending beyond the older EU Member States, two members of the Economic and Monetary Affairs committee in the European Parliament, Daniel Daianu (ALDE) and Zsolt Becsey (EPP-ED) welcome the banks' appeal and call for specific support for the economies of the NMSs.

Authors: Daniel Daianu, Laurian Lungu

****
Abstracts

What are the prospects for New Member States to join the euro-zone in the not too distant future? They seem to be in a catch-22 situation Because of the current financial crisis some Maastricht criteria would be more difficult to fulfil in the short and medium term, which would make it hard for them to join the eurozone. But there is also an argument, which highlight benefits of a faster accession due to dynamic effects for the countries involved and for the eurozone as a whole.

Download the entire study

By Daniel Dăianu, European Voice
19.01.2009 / 09:00 CET

----
The European Central Bank's response to the economic crisis demonstrates how distinctions between eurozone and non-euro economies have blurred – and why there is a case for loosening the Maastricht criteria.

Speech (Written statement, rule 142.7),14 January 2009, Strasbourg

Debate on "Gas supplies by Russia to Ukraine and the EU"