Is the European Union a union of equals?
The ongoing issue of organising a bailout for the Greek economy continues this evening with concerns that an earlier agreement between Eurozone members could well disintegrate in the short to medium term. The press today have highlighted the role played by German Chancellor Merkel who many believe dictated the conditions attached to the proposed bailout and even devised the voting system to see the issue through. So is the European Union really working together?
Concerns have been growing over the last few months that the likes of Germany and France are dictating many issues within the Eurozone and have been very vocal in the press regarding their concerns about bailing out the Greek authorities. We have seen rumour and counter rumour in the press regarding potential conditions and potential concerns within the Eurozone, and it is not difficult to see how these issues have been leaked. So what next for the European Union?
Despite the fact that France and Germany are supporting the bailout in public there are concerns that behind the scenes they are not 100% behind the proposed solution. However, there is no doubt that the European Union will need to bail out the Greek authorities because there is the potential for this to cause further issues within the Eurozone and possibly bring down other economies.
Share this..
Related stories
Manufacturing sector looking positive into summer
Productivity in the UK manufacturing sector is showing signs of improvement following a muted first quarter, figures show.The Office for National Statistics (ONS) revealed today that output in UK manufacturing industries rose by 0.3 per cent between March and April. All industries showed growth, with the transport equipment sector leading the way on 0.9 per cent growth.These figures mean overall o...
Read MoreUS authorities desperate to support the dollar
Ben Bernanke, the Federal Reserve chairman, has this evening thrown his support behind the US currency in a rare vote of confidence from the Federal Reserve. The US government appears desperate to support the greenback which has now fallen to a 15 month low on the currency exchanges and is under constant pressure. While would expect the Federal Reserve to comment upon the currency at regular inter...
Read MoreHSBC flexes its muscles with $1.3 loan from parent
Who needs the governments new loan facility? Who needs to dilute shareholder interests?
HSBC Holdings has flexed its muscles in the UK by handing over a $1.3 billion cash injection to its UK subsidiary HSBC Bank. The move was made overnight with the minimum of fuss, no big headlines and a business as usual sign on the door. While the UK operations of HSBC Holdings are in no way st...
Is Gordon Brown being sidelined by the US authorities?
Gordon Brown's hopes of taking control of the forthcoming G20 summit in London took a major hit today with the revelation that Barack Obama and US government would not be seeking any "specific commitment" from the meeting of the world's most powerful countries. There is a belief that Gordon Brown had hoped to bring together a major agreement between all parties which he could have then used to inc...
Read MoreBank of England unlikely to change UK base rates
This Thursday will see the next meeting of the MPC with nearly 100% of UK economists confident there will be no change in UK base rates. It would appear that the UK stock market is in a period of depression whereby the odd piece of sporadic good news appears to be discounted and all focus appears to be on negative news. So how can the Bank of England help with investor sentiment? At this moment...
Read More