deficit is forecast to remain above three percent of GDP in 2015 and 2016. The cep already highlighted last year in its Default Index the urgent need for action in Finland.
Germany is looking at whether the EU could provide guarantees for Greek debt to the IMF, German weekly Die Zeit reported. Thereby, Germany aims to keep the IMF on board without having to offer major debt relief for Greece. The cep does not believe that Greece’s public debt burden is sustainable. The cepDefault Index shows that there is no sign of Greece regaining its creditworthiness anytime soon.
, sondern Informationen „remote“ erhoben und gesammelt werden. Getreu des in der Datenschutzgrundverordnung verankerten Prinzips der „Privacy-by-Default“ sollen Softwareanbieter verpflichtet werden, ihre [...] . Anja Hoffmann, LL.M. Eur., hoffmann(at)cep.eu
Finland's trade deficit widened to 340 million euros in December from 26 million euros in the corresponding month last year, RTT News reported. The value of exports fell 5.0 percent year-over-year in December, while imports climbed by 1.0 percent. According to the results of the latest cepDefault-Index 2016 , the eurozone's problems are not yet solved. The figures indicate that falling creditworthiness has become firmly established in six eurozone countries: Finland, Greece, Italy, Portugal, Slovenia and Cyprus. Finland has exhibited falling creditworthiness since 2013.
Due to its failure to build a competitive labor markt, Finland is emerging as the European Union’s weakest economy, Finance Minister Alexander Stubb said according to Bloomberg. The minister warned that the Finnish economy was set to contract for a fourth consecutive year. Stubb called the development “worrying.” The cep already highlighted last year in its Default Index the need for action on the economic front in Finland.
Das Centrum für Europäische Politik (CEP) sieht trotz massiver EZB-Unterstützung und zahlreicher Hilfsprogramme weder für Griechenland noch für Italien, Portugal oder Zypern einen Grund zur Entwarnung. Der „CEP-Default-Index“, der die Kreditwürdigkeit der EU-Staaten darstellt, basiert nicht nur auf der Staatsverschuldung, sondern bezieht auch die Wettbewerbsfähigkeit mit ein. Griechenland ist danach nicht nur wegen seiner übermäßigen Kreditaufnahme, sondern auch wegen der fehlenden internationalen Konkurrenzfähigkeit nach dem Urteil des liberalen Freiburger Thinktanks ein hoffnungsloser Fall.
that cannot be managed at the national level alone”, Juncker said. He announced that the EU Commission “will prepare the ground for this to happen in the second half of this mandate.” The cep, however, believes that instead of creating an Euro-Treasury it would make more sense to introduce a sovereign default regime for the eurozone. Thereby, markets would exert the necessary reform pressure on governments, something which the EU Commission or the Eurogroup has never been able to do. The cep has drawn up a blueprint for a sovereign default regime. You can find it here .
The Vice-President of the EU Commission, Valdis Dombrovskis, responsible for the euro and social dialogue, does not rule out that France could face sanctions if it does not bring its budget in line with EU rules. “All options are on the table,” the Latvian Commissioner said in an interview with German business daily Handelsblatt published Thursday. France needs to cut its structural deficit by 0.8 percent and not only by the 0.5 percent announced by French President Francois Hollande, Dombrovskis made clear. The cep already pointed out last year in its default index that the French government
. See also our cepDefault-Index 2016
Greece only a short breather, anyhow, he argued. The cep already pointed out this fact in its latest Default Index for Greece.