organization:european monetary union

  • The Gulf Impasse’s One Year Anniversary & the Changing Regional Dynamics – Gulf International Forum

    Kristian Coates Ulrichsen, Ph.D., Fellow for the Middle East, Rice University’s Baker Institute for Public Policy.

    http://gulfif.com/the-gulf-impasse

    A year has passed since the Qatar News Agency was hacked and implanted with ‘fake news’. Ten days later this hacking was followed by the diplomatic and economic embargo of Qatar by four regional states – Saudi Arabia, Bahrain, the United Arab Emirates (UAE), and Egypt. The element of surprise strategy applied by the Quartet was intended to shock the Qatari government into acceding to their demands. Now, one year later this approach is misplaced as Qatar proved more resilient than anticipated. Rather than isolating Qatar regionally and internationally, the crisis has widened the cracks in the Gulf into a chasm and has generated unintended consequences that risk inflicting generational damage on its political and social fabric. As with the Iraqi invasion and occupation of Kuwait in 1990, the blockade of Qatar is an era-rupturing event that will reverberate through the regional politics and international relations of the Gulf for years to come.

    Evolving Threat Perceptions
    The Gulf Cooperation Council (GCC) was formed in 1981 largely in response to regional security threats triggered by the Iranian Revolution in 1979 and the outbreak of the Iran-Iraq War in 1980. The six states that came together in Abu Dhabi to form the GCC often differed in their foreign policy outlook. The five smallest Gulf States shared varying degrees of wariness toward Saudi Arabia, reflecting in part a history of border disputes. For example, Kuwait was put under Saudi blockade in the 1920s and 1930s, Oman and Abu Dhabi had territorial disputes with Saudi Arabia from the 1950s to the 1970s, and as recently as 1992 and 1993 skirmishes occurred on the Saudi-Qatari border. Simmering unease in smaller Gulf capitals at the prospect of Saudi domination of GCC structures hampered attempts to construct collective military and security policies such as the Peninsula Shield Force or a common internal security agreement.

    And yet, throughout the three major wars in the Gulf – the Iran-Iraq War (1980-88), the Gulf War (1991), and the war and subsequent US-led occupation of Iraq (2003-11), the GCC remained a bastion of relative stability in a region gripped by conflict and insecurity. During this tumultuous period, all six GCC states retained a common threat perception enabling them to overcome instances of intra-GCC friction, such as Saudi and Emirati attempts to reverse the 1995 succession of Qatar’s Emir Hamad bin Khalifa Al Thani or the Emirati walkout from the planned GCC monetary union in 2010 after Riyadh was chosen over Abu Dhabi as the site of the prospective GCC central bank. Indeed, GCC states have always worked best together in the face of external threats that draw together the six ruling families’ common interest in political survival – evidenced by the decision in 2011 to revive and dispatch the Peninsula Shield Force to Bahrain to assist in the restoration of order and the creation of a $10 billion GCC fund to assist Bahrain and Oman in the wake of Arab Spring unrest.

  • Greece Loses Last Trace Of Sovereignty After EU Takes Control Of Greek Borders | Zero Hedge
    http://www.zerohedge.com/news/2015-12-05/greece-loses-last-trace-sovereignty-after-eu-takes-control-over-greek-bor

    Banque AIG :
    Bernard ConnollyEurope – Driver or Driven?EMU and the
    Lust for Crisis ACI Congress, May 30, 2008


    "Ever since this summer’s dramatic “referendum” farce, and the subsequent hijacking of the Greek banking system by the ECB’s ELA, Greece has officially been a nation without state sovereignty. Europe reminded Greece of just this a few days ago when days after its waved the carrot before Turkey promising billions in aid, and an EU acceptance fast track, it threatened Greece with expulsion from the Schengen customs union (a union which as a subsequent leak revealed will likely be “temporarily” shuttered for as long as two years unless the refugee crisis is brought under control).

    Perhaps to confirm that few things will stand in its mission-creep to subjugate the sovereignty of European member states, starting with the poorest and most insolvent, namely Greece, we find out that the EU and its border agency, is not only preparing to take over border control of countries that have been found to be “ill-equipped” to deal with the refugee problem, but has already launched this plan into action in Greece.

    Because after being threatened with expulsion from the Schengen zone, Greece (which does not actually share a contiguous, physical border with any Schengen nation) caved in and accepted an offer from the European Union to bolster its borders with foreign guards as well as other aid, including tents and first aid kits. This decision follows reports that Greece was unwilling to accept foreign border guards on its territory, but these were later denied by the government.

    Greece asked #Frontex yesterday to provide rapid intervention teams to the Aegean islands. https://t.co/gLF2D4deEu

    — Frontex (@Frontex) December 4, 2015

    The deployment of additional officers will begin next week.

    As Keep Talking Greece writes, “the masks have fallen. Hand in hand, the European Union and the Frontex want to cancel national sovereignty and take over border controls in the pretext of “safeguarding the Schengen borders”. With controversial claims, they use the case of Greece to create an example that could soon happen “in the border area near you.” And the plan is all German.”

    Paranoia? Or just another confirmation that the Eurozone is using every incremental, and produced, crisis to cement its power over discrete European state sovereignty and wipe out the cultural and religious borders the prevent the amalgamation of Europe into a Brussels, Berlin and Frankfurt-controlled superstate? "

  • Eurozone crosses Rubicon as Portugal’s anti-euro Left banned from power - Telegraph
    http://www.telegraph.co.uk/finance/economics/11949701/AEP-Eurozone-crosses-Rubicon-as-Portugals-anti-euro-Left-banned-from-po

    Après l’écrasement de l’essai grec, tuer dans l’œuf les moindres velléités portugaises - le néo-libéralisme en mode post-démocratique - autoritaire

    Mr Cavaco Silva is effectively using his office to impose a reactionary ideological agenda, in the interests of creditors and the EMU establishment, and dressing it up with remarkable Chutzpah as a defence of democracy.

    The Portuguese Socialists and Communists have buried the hatchet on their bitter divisions for the first time since the Carnation Revolution and the overthrow of the Salazar dictatorship in the 1970s, yet they are being denied their parliamentary prerogative to form a majority government.

    This is a dangerous demarche. The Portuguese conservatives and their media allies behave as if the Left has no legitimate right to take power, and must be held in check by any means.

    These reflexes are familiar – and chilling – to anybody familiar with 20th century Iberian history, or indeed Latin America. That it is being done in the name of the euro is entirely to be expected.

    Greece’s Syriza movement, Europe’s first radical-Left government in Europe since the Second World War, was crushed into submission for daring to confront eurozone ideology. Now the Portuguese Left is running into a variant of the same meat-grinder.

    Europe’s socialists face a dilemma. They are at last waking up to the unpleasant truth that monetary union is an authoritarian Right-wing enterprise that has slipped its democratic leash, yet if they act on this insight in any way they risk being prevented from taking power.

    Brussels really has created a monster.

    #euro #Union_Européenne #Portugal #dette

  • Brutish, nasty – and not even short: the ominous future of the eurozone | Wolfgang Streeck | Comment is free | The Guardian
    http://www.theguardian.com/commentisfree/2015/aug/17/greece-eurozone-deal-north-south?CMP=share_btn_fb

    Most importantly, with Greece staying in common currency, she can now reassure her core constituency, the German export industry, that none of the captive members of eurozone will ever be released, not even on probation – something much appreciated also by the German trade unions, the Social Democrats, and her geostrategically-minded American friends.

    Of course none of this means the euro mess won’t continue. On the contrary, with a historic window for a fundamental recalibration of the euro system missed we are in for more of the same, and the next act of the drama is already beginning. The problem with the euro is not a lack of “European spirit” on the part of the Greeks, or of German inability to appreciate the failsafe recipes of US macroeconomics. It is that the monetary union is a fundamentally misconceived institution, as it denies weaker countries the possibility of devaluing their currency in support of economic adjustment while otherwise preserving member states’ sovereignty.

    #Grèce #mémorandum_de_gauche #austérité #euro #RDA #Mezzogiorno

  • streeck2015_european-law-journal_heller-schmitt-and-the-euro.pdf
    https://wolfgangstreeck.files.wordpress.com/2015/04/streeck2015_european-law-journal_heller-schmitt-and

    Dans un article récent inspiré de la crise grecque, Wolfgang Streeck remonte la généalogie du néo-libéralisme, via l’ordo-libéralisme allemand de l’après-guerre, jusqu’à « l’état autoritaire » selon Carl Schmitt - la BCE comme « dictateur idéal ».

    (l’article commente une conférence de Schmitt prononcée en 1932 devant la fédération des industries rhénanes, « Une économie saine dans un état fort »)

    Given the jurisdictional asymmetry between the ECB and the EMU member
    countries, as well as the absence of an equally effective political counterpart at the level
    of the EMU as a whole, the ECB is the ideal dictator –the only agent capable of taking decisive
    action

    #Union_Européenne #euro #BCE #Grèce #néo-libéralisme #ordo-libéralisme #Foucault #Etat_d'exception #Souverain

  • VersoBooks.com
    http://www.versobooks.com/blogs/2146-wolfgang-streeck-the-euro-a-political-error

    Très important entretien accordé par Wolfgang Streeck le 7 juillet à l’Espresso et désormais disponible en anglais.

    Wolfgang Streeck dirige l’Institut d’Etudes sociales Max Planck de Cologne - son livre « Du temps acheté » a récemment été publié par Gallimard.

    ‘The euro is not Europe’. Wolfgang Streeck suggests this as a basis for an accurate analysis of the negotiations over the Greek debt. ‘The equation between the monetary union and Europe is simply ideology, and serves to conceal prosaic interests’, the director of Cologne’s Max-Planck Institute for the Study of Societies explains.

    The interests of the countries of Northern Europe, against those of the South; of international finance against the peoples of the Mediterranean; of the ‘market people’ [Marktvolk] against the ‘state people’ [Staatvolk]; of capitalism against democracy. For the author of Buying Time: The Delayed Crisis of Democratic Capitalism, the Greek case in fact merely represents the latest variant of a process dissolving the postwar democratic capitalist system. That is, the system that had fought to hold democracy and capitalism together in a fragile and unstable combination, and which gave rise to a social pact that has now exploded.

    Even in Europe. And precisely because of a European Union that has become ‘the engine of the liberalisation of European capitalism, a tool of neoliberalism’. And because of a single currency that serves ‘the market’s interests’. For Wolfgang Streeck, one of today’s most influential sociologists, if we are to get out of the vicious circle of a free-market Europe condemned to austerity, we must start by renouncing the euro as a single currency. With a new European Bretton Woods.

    #monnaie #dette #Grèce #Allemagne #Etalon_Or #austérité