Brussels Playbook
By SARAH WHEATON
with ZOYA SHEFTALOVICH
https://www.politico.eu/newsletter/brussels-playbook/le-pen-nightmare-before-christmas/
DRIVING THE
DAY: LE PEN AND YOUR POCKETBOOK
EUROZONE
CRISIS FOR CHRISTMAS? National Rally leader Marine Le Pen could have the fate
of the European economy in her hands. She and her far-right party are weighing
whether to vote against French Prime Minister Michel Barnier’s budget. That
would not only pull the plug on his fragile coalition government, but also
terrify financial markets and send shockwaves around Europe.
**A message
from DP World: A global leader in trade and logistics, DP World ensures the
seamless flow of goods across many markets, including across Europe. We operate
ports and terminals in strategic locations like Belgium, Germany, the
Netherlands, Romania, France, and Cyprus. We welcome the EU’s leadership in
fostering sustainable global trade.**
French
financial twist: Years of lavish spending have brought France’s deficit to more
than 6 percent of the entire economy, twice as much as permitted by EU rules.
Barnier’s big task is to rein that in — and few like his plan to boost energy
taxes and delay some public benefits. “If the budget remains as it is, we’ll
vote for no confidence,” Le Pen said after meeting Barnier for over an hour
Monday.
You thought
Greece was bad? A decade ago, huge public debt in Greece almost toppled the
single-currency eurozone. It exposed how crises couldn’t be contained in one
country as the economies of Portugal, Ireland and Spain teetered, and big
beasts like France and Italy felt the heat, too. This time, France is the one
with the debt crisis, and Germany — once the stabilizing force — is facing its
own political and economic turmoil.
Side note:
Guess who is the latest proponent of Germany relaxing its famed debt brake: One
Angela Merkel, if you can believe it.
Dire
warning: The European Central Bank said last week that the bloc could be on the
brink of a new eurozone debt crisis because of low growth and policy
uncertainty.
Nightmare
before Christmas: The moment of truth will come right before Christmas, when
Barnier will have to use a constitutional trick to pass his budget. The gambit
will allow him to pass a text without a parliamentary vote, but also expose him
to a no-confidence motion that could cost him his job.
Sem comentários:
Enviar um comentário