European Commission officials are warning Russia to stop “unacceptable” threats against former Soviet states that have been looking to develop closer ties to the EU.
Russia banned imports of wine and spirits from Moldova in what’s believed to be a strike against the country for looking to work with the EU. Ukraine and Armenia have also said that Russia has taken action against them for looking into the EU. Continue reading
The leaders of 11 European Union nations are putting plans in place to make the 27-nation bloc more of a “European government” that would direct elect it’s leader who then would appoint a continent-wide government.
The “Future of Europe Group” headed by German Foreign Minister Guido Westerwelle released a report that says the current Eurozone crisis has caused a “crisis of confidence” in the EU. A result of the crisis, the report states, is a necessity for a stronger European Commission and a directly elected head of the Commission. Continue reading
Luis deGuindos, Spain’s economy minister, stated today that the country is on the verge of asking for a bailout as reported in various media sources.
Any decision on a bailout request would be dependent on the outcome of audits of all Spanish banks. The results of the audit are not expected until the end of June. Continue reading
Amid concerns about looming bank failures in Spain, the European Commission is proposing providing bailout funds to banks directly rather than going through individual governments.
Commission head Jose Manuel Barroso cited the need for flexibility and speed in sending the funds directlyto banks. Also being placed on the table is a debate about creating a “banking union” similar to the Euro Zone.
