Monday

25th Jun 2018

Agenda

This WEEK in the European Union

  • Last year's EU-US summit lasted a few hours on the margins of a two-day Nato summit (Photo: Valentina Pop)

A summit of EU and US leaders on Monday (28 November) will likely put more pressure on Europe to get its act together on the euro-crisis risking to bring down the world economy.

Set to take place in Washington DC, the summit will confront President Barack Obama and his foreign minister Hillary Clinton to the chiefs of EU institutions - Jose Manuel Barroso from the European Commission, EU council chair Herman Van Rompuy and foreign affairs representative Catherine Ashton.

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Brussels diplomats expect Obama to repeat his calls on the EU to stop squabbling and put their money where their mouth is when it comes to eurobonds, ECB intervention and other measures aimed at bring an end to the sovereign debt crisis in the eurozone.

"The main focus of the summit will be the global economic situation," an EU statement reads. Trade issues, convergence of regulation on both sides of the Atlantic and the US-EU data sharing agreements are also on the agenda of the second day of meetings, on Tuesday. Last year, the summit was held for a few hours on the margins of a two-day Nato summit in Lisbon.

Finance ministers of the eurozone will meet in Brussels on Tuesday evening to talk about Greece and the release of a delayed tranche of the EU-IMF aid, pending a signature from the opposition leader in Athens on a formal commitment that his party, if it comes to power in elections next year, will stick to the austerity and structural adjustment programme demanded by international lenders.

Meeting at the level of all 27 EU member states, finance ministers the next day are looking at the new capital requirements for banks, amid signals from central and eastern Europe that they may lead to capital flight from subsidiaries and thus expand the sovereign debt crisis into a lending crisis throughout Europe.

Foreign ministers meeting together with defence chiefs on Wednesday will take stock of EU's military missions in Bosnia and fighting pirates off the Somali coast. On Thursday, foreign ministers will most likely adopt a fresh batch of sanctions against Iran following the publication of the UN atomic agency report confirming that Tehran is pursuing its nuclear programme. Syria, Egypt and Kosovo are also on the agenda.

MEPs on Wednesday will adopt the EU membership treaty with Croatia, a formality paving the way for the 28th member of the EU to sit at the table of leaders during the December summit.

This WEEK in the European Union

The European Commission will this week set out new legislative proposals on credit ratings agencies, seen by many in Brussels as a thorn in the side of the eurozone crisis.

Greece and Merkel's fate top This WEEK

Eurozone ministers are expected to give the green light to the final disbursement of aid to Greece and agree on measures to help with its debt burden. Meanwhile, the government in Berlin is shaken by Bavarian rebels over migration.

Dutch debate on EU agenda This WEEK

Dutch prime minister Mark Rutte will debate the future of the EU with MEPs and with European Commission president Jean-Claude Juncker in Strasburg on Wednesday.

New governments in Spain and Italy This Week

MIgration will be back in the EU limelight as interior ministers discuss the latest proposals on asylum. Italy's new minister is a fan of Orban and has vowed mass deportations.

Greece and creditors proclaim 'end of crisis'

After late-night talks, the Eurogroup agreed on a €15bn disbursement and debt relief measures for Greece, while setting out a tight monitoring when the bailout ends in August.

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