” Its search for support for the resistance is developing against the clock, because with regard to the banking union and the strengthening of the European Stability Mechanism (December 2018 Calendar Singapore) “between 90% and 95% of the work is completed”, according to the headline of German Finance ahead of the December summit, including a “broad support” to introduce in the bond issues “collective action clauses with simple aggregation clauses” (CACs), which would facilitate obliging private investors to assume losses. In addition to the Netherlands, concerns remain in other countries, including the Nordic and Baltic states, Austria and Finland, according to German sources in BrusselsThe German government, meanwhile, speaks of “optimism”, in words of Finance Minister Olaf Scholz. Chancellor Merkel received today in Berlin the Prime Minister of Denmark, Rasmussen. Next to cBilateral issues and consensus on the Brexit, have had occasion to expose differences and seek compensation that have not commented, however, before journalists, in his appearance in the Chancellery of the German capital.
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They stress that we must focus on the initiatives that have the greatest consensus among the countries, in particular to complete the banking union and to convert the European Stability Mechanism (the ESM, a eurozone rescue fund) into a European Monetary Fund, but as far as Regarding the common budget, they consider that “there is no rush.”
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In addition, on banking union, they are only convinced to hold technical discussions on the European Deposit Guarantee System, the main piece pending in the project agreed since 2015 but not yet implemented .
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As for the ESM, they are open to converting it into a Monetary Fund with greater responsibility for future financial bailouts, but warn that “decision-making must remain firmly in the hands of the Member States”, maintaining the intergovernmental structure without including the ESM in European treaties, an option that the Commission prefers and that would mean, among other things, greater parliamentary scrutiny.
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The rest of the reforms, they understand, should only start when countries have reduced “enough” the risks of their banking sectors. The big question surrounding British politics these days is whether, finally, the conservative rebel deputies will be able to move forward a motion of censorship against its leader, Prime Minister Theresa May.
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The Brexit has dynamited the “Tories” and the only way to make May fall is through this system implemented in 1998 by the then leader of the opposition and ringleader of the Conservatives in the House of Commons William Hague.
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But what is this motion of internal censorship? Can Theresa May fall before trying, at least, to bring her agreement to Parliament? The first step for this to happen is for 15% of the Conservative Members to present a letter requesting this motion to the 1922 Committee Chairman Graham Brady, who he is the one who must announce it.
The critical group gathered around the Dutch resistance considers that “a stronger Economic and Monetary Union requires, first and foremost, decisive actions at the national level and full compliance with our common rules”. These countries insist that “each member of the December 2018 Calendar Singapore must reinforce its own economy and oppose the transfer of important national competences to the EU”.