European union

Guy Verhofstadt claims Olympic gold for the EU

Who is on top of the gold medal table at the Tokyo Olympics? China? The United States?  According to former European parliament Brexit chief Guy Verhofstadt, it is, in fact, the European Union that is triumphing at the games. While you have to go down to seventh place in the Olympics leader board to find an EU country (Germany), Verhofstadt appears to have his own scoreboard:  ‘Fun fact,’ he wrote on Twitter: ‘EU combined has more gold medals than US or China’. Verhofstadt went on to say that he would ‘love to see the EU flag next to the national on athletes’ clothes’.  Mr S wonders whether this is all just a ploy to ensure that Verhofstadt’s Belgium

Should the EU diversify – with blockchain?

The European Investment Bank has warned that the EU is not investing enough in blockchain — the technology that underpins cryptocurrencies — and artificial intelligence. In a report released Tuesday, the EIB wrote that the EU is falling behind both China and the US in these two areas, with the funding gap estimated at between €5 billion and €10 billion annually. This is problematic because, as the bank argues, AI and blockchain are two of the most significant disruptive technologies of our time, and they will have a major impact on the future economy. At present, the US and China account for more than 80 per cent of annual equity

The EU’s decline is self-inflicted

In 1991, at the height of the first Gulf War, the EU demonstrated to the world its divisions and helplessness, as Belgium infamously blocked the export of munitions to the UK, then at war in the Gulf. They quickly came to regret it. The Belgian Foreign Minister subsequently remarked tellingly: ‘Europe is an economic giant, a political dwarf and a military worm’. It seems these days that little has changed, save that even the EU’s claim to be an ‘economic giant’ is eroding with the loss of the world’s fifth largest economy, a dwindling share of world trade and a catatonic growth rate, even before the pandemic. Worse still, much

The EU’s vaccine catastrophe is a crisis of its own making

As news emerges that both Pfizer and AstraZeneca are cutting supplies of their Covid-19 vaccines to the EU by up to 60 per cent, EU officials are turning on the drug companies, threatening fines and lawsuits if they don’t speed up deliveries. The Italian Prime Minister Giuseppe Conte has blasted the delays as unacceptable and threatened to take the companies to court. While the European Council President Charles Michel is threatening to use ‘all the legal means at our disposal’ to make the drugs companies ‘respect the contracts’ signed with the EU. But hold on, because on closer inspection it turns out that much of the unfolding vaccine catastrophe in

The EU is a divided house

What does 2021 hold for the European Union? At the end of 2020 Brussels has gone out of its way to engage in unity-signalling, announcing that all 27 members will begin vaccination on the same day and feigning a united front in the face of the UK’s new strain of coronavirus. But in truth its 27 member states are confronted by serious structural divisions in three fundamental areas: economics, culture, defence. Deep economic divisions surfaced in the EU after the 2008 financial crash along a north-south axis. The split between the richer ‘frugal’ northern economies and the ‘profligate’ southerners was starkest in 2012-13 over Brussels’ treatment of Greece. Papered over

Britain’s bizarre Italian travel guidance

Here’s a tip. When the Foreign Office advises against going somewhere, hop on the next plane. The mandarins have advised against visiting Italy because of Covid-19. It’s as bizarre as everything else that our rulers have said about the virus. Confirmed cases in the UK are currently more than twice as high per 100,000 as in Italy. Anyone with our welfare at heart should be telling us to go to Italy at once. I left the next day. The Italians could be forgiven for serving us our own medicine and quarantining all arrivals from the UK. As it is, they test you at the airport, and quarantine is only required

Brexit, if used properly, can speed Britain’s post-Corona recovery

Will the recovery be shaped like a V or a U, some other letter or perhaps the Nike swoosh? This is a much-discussed question among economists right now — but it is not the most important question. We’re familiar with the idea of an up-and-down financial crisis where things return to their starting point: we had roller-coasters in the mid-1980s. Even after the global financial crash of 2008-09, financiers still kept their place as masters of the universe. Global supply chains were repaired and the old power structures remained in position. This time might be very different. Old fixes are being applied to a new crisis. Central banks, for example,

The man who defined Labour’s forgotten past

To read this long-overdue and welcome biography of Peter Shore is to undergo a journey from Labour’s eurosceptic heights in the 1960s to its demise as a party of the nation state in the 1990s. Titled Labour’s Forgotten Patriot, patriotism is a theme which constantly recurs and, to a considerable extent, defined Shore’s political life. Peter Shore has been a rather neglected figure. This is odd since he had considerable influence over Labour politics for two decades and was probably the staunchest defender of Britain’s independence. A Cambridge Apostle, rising star in the Labour Research Department of the 1950s and part author of three consecutive Labour general election manifestos, Shore came

In defence of Sadiq Khan’s EU citizenship plan

Sadiq Khan has ventured to Brussels today to meet with European Union negotiators. London’s mayor has a plan to convince EU officials to offer Brits ‘associate citizenship’ after the Brexit implementation period ends this year. The citizenship would grant Brits continued access to freedom of movement and residency within the EU, along with a possible host of other rights linked to healthcare, welfare and voting in European Parliamentary elections. The bid, Khan says, is for ‘heartbroken’ Londoners and others. Of course, Khan is extremely unlikely to be successful. Although London’s mayor wants associate citizenship to be high up on the negotiating agenda when it comes the ‘future relationship’, it’s probably