Thursday

24th May 2018

EU vows to shape globalisation

Having finally put six years of institutional wrangling behind it with last week's agreement on a new treaty, the 27-nation EU says it is now confident to face outside challenges.

In December, EU leaders are expected to adopt a declaration, which should underline the bloc's change of priorities – moving from institutional matters towards issues such as globalisation and climate change.

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"We have agreed that we should rule out further institutional change for years ahead", UK prime minister Gordon Brown said on Friday (19 October) – something he said he personally hoped would be the case for at least a decade.

The union now has less than two months to agree a list of new priorities linked to globalisation and subsequently move on to agreeing the best political recipe for how to deal with the phenomenon.

According to the European Commission, the EU should avoid being a passive spectator, but rather "shape" globalisation.

In practice, it is promoting the so-called principle of reciprocity - meaning trading partners should open their markets as much as the EU does.

"We should be open, but not naive. We should not close our doors, rather we should encourage others to open theirs", commission president Jose Manuel Barroso said, suggesting that openness is a two-way street and that third countries should offer comparable levels of openness to EU exporters and investors.

In addition, foreign companies wishing to do business in EU territory should not be allowed to by-pass the rules applied in the union's internal market.

Speaking at the EU summit Friday (19 October), French president Nicolas Sarkozy proved to be the strongest advocate of such a principle.

"Let's not be naive, we must demand a reciprocity", he said, complaining about the severe environmental and social requirements placed upon EU businesses, but not followed by their non-European competitors.

"We have to remind others there are rights as well as obligations", Mr Sarkozy added, singling out Russia and China.

EU paper suggests protecting common market

Just weeks after the European Commission revealed its plans to prevent foreign companies from uncontrolled access to the EU's energy sector, Brussels is set to reiterate that in a global economy "openness is not a one-way street."

EU pessimistic on permanent US trade exemption

EU trade chief said the US will impose tariffs or "other limiting measures" on 1 June, as the EU's offer to start limited trade talks is probably not enough for the protectionist Trump presidency.

Commission 'playing tricks' with EU budget figures

The EU parliament's budget rapporteur complained the Commission is using numbers with a "desire to confuse". According to parliament estimates, the cohesion fund could suffer as much as a 45 percent cut.

Analysis

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Given the European Commission new budget's heavy focus on migration, border management and security, many are asking whether the proposal will fortify Europe at the expense of its peace commitments.

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