Tag: Europe

World debt soars to record $281 TRILLION in 2020, set to rise again this year – report

RT – February 21, 2021

The Covid-19 pandemic has added $24 trillion to the global debt mountain over the last year, the Institute of International Finance (IIF) said. Government spending has accounted for about half of the increase.

Corporations added $5.4 trillion to the total, while banks and households accounted for $3.9 trillion and $2.6 trillion respectively.

With global debt now totaling a record $281 trillion, the ratio of debt to global GDP has risen 35 percentage points to over 355 percent, the institute’s study shows. The increase in debt is larger than the rise seen during the global financial crisis, in which 2008 and 2009 saw 10-percent and 15-percent debt-to-GDP jumps respectively.

Borrowing levels are expected to run well above pre-pandemic levels in many countries and sectors again this year, supported by still-low interest rates.

“We expect global government debt to increase by another $10 trillion this year and surpass $92 trillion,” the IIF said, adding that slowing down support could prove even more challenging than it was after the financial crisis.

“Political and social pressure could limit governments’ efforts to reduce deficits and debt, jeopardizing their ability to cope with future crises. This could also constrain policy responses to mitigate the adverse impacts of climate change and natural capital loss,” it added.

According to the report, rises in debt were particularly sharp in Europe, with non-financial sector debt-to-GDP ratios in France, Spain, and Greece increasing by 50 percent.

https://www.rt.com

Court Rules Against Campaigner’s Bid to Hold Scottish Independence Vote Without UK Govt’s Consent

Sputnik News – February 5, 2021

The claim comes ahead of parliamentary elections in May, pending the Scottish National Party remains in power and pushes for a second vote on independence after failing to receive backing from UK prime minister Boris Johnson.

A Scottish Independence campaigner has lost a bid to seek backing from a top civil court in Edinburgh, Reuters reported on Friday.

Scotland’s Court of Session ruled against campaigner Martin Keatings, who sought legal support for his claim the Scottish parliament could hold a fresh vote on independence from the United Kingdom without approval from Downing Street.

The Court of Sessions dismissed the case, stating Keatings argument was hypothetical and premature, and did not express a view concerning the legality of the case, Reuters added.

The news comes amid calls for a second referendum on Scottish independence, namely after Cabinet Secretary for the Constitution, Europe and External Affairs, Michael Russell, said a vote could take place in June after Holyrood unilaterally passes further legislation to approve the process.

https://sputniknews.com

In outright defiance of UK PM, Scottish leader Nicola Sturgeon’s party promises second independence referendum after pandemic

RT – January 23, 2021

Scottish First Minister Nicola Sturgeon is standing by her threat to hold a fresh referendum on independence if her party wins the May elections, despite Boris Johnson saying another one should not take place until at least 2055.

Sturgeon likened UK Prime Minister Boris Johnson to a “cowering tim’rous beastie” – a line from the poem ‘To a Mouse’, about a scared mouse, by Scotland’s national poet Robert Burns – during an interview with the BBC on Sunday. The Scottish leader also accused Johnson of being “frightened of democracy” by opposing another Scottish referendum until at least 2055 – just over 40 years after the last referendum in 2014, when a 55 percent majority of Scots voted against independence.

“The polls now show that a majority of people in Scotland want independence,” Sturgeon declared, adding, “If the SNP win the Scottish election in a few months’ time on a proposition of giving people that choice, then what democrat could rightly stand in the way of that?”

She added, “Boris Johnson clearly just fears the verdict and the will of the Scottish people.”

Various polls have repeatedly showed that a majority of Scots now support independence, with the most recent placing the number at around 52 percent. It was the 20th poll in a row to show that a majority of Scots support independence.

On Saturday, the SNP revealed in its “roadmap to a referendum” that a draft independence referendum bill “would be enacted if an SNP Scottish Government is re-elected with a majority to do so” in the May 2021 elections. The party claimed that such a referendum would be beyond any “legal challenge” from the UK government, though it stressed that any referendum would only be held after the Covid-19 pandemic.

https://www.rt.com

From ‘Dangerous Fantasy’ to Reality in Seven Years: EU Reveals ‘Uniformed Service’

Oliver JJ Lane – January 12, 2021

Less than seven years after British Eurosceptics were laughed at for expressing concerns about a coming European Union army, the bloc has revealed the official uniform of its new ‘standing corps’, as the first of 10,000 recruits prepare to deploy to the field.

Frontex, the European Union’s combined border force and coastguard, revealed the new uniform in a social media post on Monday, showing off the navy uniform complete with EU-flag identification patches and military side cap. The force said: “For the first time, the European Union has its own uniformed service – the European Border and Coast Guard standing corps.”

Previously, officers seconded to Frontex from national forces denoted their new role by wearing an armband with a symbol of the European political project — a ring of gold stars on blue — on their right arm.

The “troops” of Frontex in their own European uniforms comes less than seven years after Brexiteers were told they believed a “dangerous fantasy” for saying the European Union was moving towards having its own armed forces — of which the paramilitary Frontex is the first phase.

The so-called standing corps recruited its first inductees during 2019, who were sent to academies in Poland for training. According to reports at the time, the first Frontex standing corps officers are due to deploy in early 2021.

https://www.breitbart.com

No Going Back: U.N. Chief Guterres Promises ‘Rebuilt’ World in Coronavirus Wake

Simon Kent – January 12, 2021

Out with the old, in with the new. That was the mantra U.N. Secretary-General António Guterres espoused as he promised the world will never be the same again in the wake of the coronavirus pandemic.

Embracing the chance to push “humanity on a path on which it is not in conflict with nature,” is the desire of the former leader of the Portuguese Socialist Party,  who urged “greater efforts by everyone to protect biodiversity and step up climate action.”

Addressing world leaders at the One Planet Summit on Monday, Guterres outlined how he saw a brave new world of the future, based on the theme of a great climate and economic reset he has espoused before. Guterres said:

We have been poisoning air, land and water – and filling oceans with plastics. Now, nature is striking back: temperatures are reaching record highs, biodiversity is collapsing, deserts are spreading, [and] fires, floods and hurricanes are more frequent and extreme… We are extremely fragile.

Pandemic recovery is our chance to change course. With smart policies and the right investments, we can chart a path that brings health to all, revives economies and builds resilience and rescues biodiversity.

The U.N. chief, 71, said he envisaged a new future alignment between “public and private financial flows” that obeyed the Paris Agreement commitments to “integrate the goal of carbon neutrality into all economic and fiscal decisions.”

Organized by the French Government in partnership with the United Nations and the World Bank, the One Planet Summit brought together world leaders “to commit action to protect and restore bio-diversity.” Due to the coronavirus outbreak, the event was largely virtual.

Monday’s call by Guterres for the world to unite and rebuild was not the first time has has voiced the belief that a crisis can be an opportunity for vast global change.

https://www.breitbart.com

“More Courage to Assume Global Power”

GERMAN-FOREIGN-POLICY.com – January 7, 2021

(Own report) – The German foreign policy establishment is entering the second year of the Covid-19 pandemic with new plans for EU global power. Whereas in particular western powers and their allies have been overwhelmed by new waves of the pandemic, at times being confronted with rapidly increasing numbers of casualties, “Internationale Politik” (IP), Germany’s leading foreign policy periodical, is debating the question of “what Europe lacks to assume global power.” The demand that the Union must have more courage to assume global power had already been raised in several leading German media organs last fall. According to a poll, nearly half of all Germans surveyed agree that the EU can “play a strong role in global policy,” similar to that played by the USA and China – particularly followers of the Green Party (52 percent) and those of the FDP (56 percent), along with the generation aged between 18 and 29 (70 percent). Whereas, the IP calls on “Europe” to enhance its “international impact”, former EU commissioner Günther Oettinger cautions against the “complete overconfidence” evident in many EU capitals – “a kind of hubris.”

“Setting Standards Globally”

Demands for the EU to vigorously assert itself as a “global power” had already been raised last fall in liberal and conservative wide-circulation media organs. In October, the German weekly Zeit-online called for “more courage to assume global power.” The Union “must consider itself a global power.”[1] A little later, the Minister of Development, Gerd Müller, and the former foreign policy expert at the influential Bertelsmann Foundation, Werner Weidenfeld, declared in “Die Welt”, a daily owned by Springer, that the “EU has what it takes, to be a global power.” “Its sovereign – the nearly 400 million people with their top economic potential – and solid military equipment have lifted the EU to the rank of a global power.”[2] Almost two decades ago, Weidenfeld had used similar arguments to declare that the EU was a “global power in the making” (german-foreign-policy.com reported.[3]). Together with Müller, he now argues that “by virtue of its economic power, Europe” should “set standards in a digitalized and globalized multipolar world.” To accomplish this, Brussels of course needs not only a “more operational political framework” – if possible “flanked by a European strategic council” – but, for example, also a “European” army with a “joint command structure.”

https://www.german-foreign-policy.com

What Is “The Great Reset”?

Michael Snyder – November 22, 2020

The Internet sure has been buzzing about “the Great Reset” lately.  That term has been trending on Facebook and Twitter, and the New York Times even published an article dismissing it as a “conspiracy theory”.  But it is definitely no conspiracy theory.

I was determined to get to the bottom of this whole thing, and I am going to share the facts that the New York Times either could not find or refused to share.  It turns out that “the Great Reset” is actually an initiative that was started by the World Economic Forum that is designed to get “global stakeholders to cooperate in simultaneously managing the direct consequences of the COVID-19 crisis”.  The following comes directly from the official website of the World Economic Forum…

There is an urgent need for global stakeholders to cooperate in simultaneously managing the direct consequences of the COVID-19 crisis. To improve the state of the world, the World Economic Forum is starting The Great Reset initiative.

So the New York Times put out fake news when they told all of us that “the Great Reset” is just a “conspiracy theory”, and they owe all of us a major apology.

According to the World Economic Forum, “the Great Reset” is a “unique window of opportunity” for global leaders to shape “the future state of global relations, the direction of national economies, the priorities of societies, the nature of business models and the management of a global commons”…

As we enter a unique window of opportunity to shape the recovery, this initiative will offer insights to help inform all those determining the future state of global relations, the direction of national economies, the priorities of societies, the nature of business models and the management of a global commons. Drawing from the vision and vast expertise of the leaders engaged across the Forum’s communities, the Great Reset initiative has a set of dimensions to build a new social contract that honours the dignity of every human being.

In other words, “the Great Reset” is essentially just an updated blueprint for a New World Order.

https://www.shtfplan.com

New Year brings final Brexit split between EU and UK

DW – January 1, 2021

Britain saw a major reset to its relations with the European Union on January 1, the first day after the end of the 11-month transition phase which served to smooth its exit from the bloc.

The UK officially left the bloc on January 31, 2020, but it effectively remained tied to it in terms of customs and commercial arrangements while it sought a free-trade agreement.

At the stroke of midnight in Brussels and 11 p.m. in London on Thursday, the UK quit the EU’s Customs Union and Single Market. The New Year also ended freedom of movement between the UK and nearly all of the EU states, except for Ireland.

However, special rules are now in place for Gibraltar, a British Overseas Territory on the southern Spanish coast. Talks between the governments in London, Madrid, and Gibraltar on Thursday came down to the last hours to scramble a deal that sees Gibraltar enter the Schengen zone.

The first post-Brexit truck carried goods across the border on Friday. The driver pulled in at the new pit stop at the exit of the Channel Tunnel with a new array of documents which will now become standard practice for those passing between the UK and the EU as a result of Brexit.

DW correspondent Barbara Wesel, reporting from Calais, in northern France, said that there was very little traffic on the morning of January 1, but she explained that this was because the bigger companies had had time to prepare and accustom themselves to the new rules.

However, “it is going to hit a lot of the smaller transport companies that carry mixed loads … For them, life is going to be much more difficult.”

She added that the delays might be more noticeable on Monday, after the long weekend and the New Year’s day holiday. “Then we might see those traffic jams that everybody has been warning about,” Wesel said.

https://www.dw.com

Brexit deal is finally DONE as Boris Johnson hails ‘immense moment where we have taken back control of our destiny’

– December 25, 2020

BORIS Johnson hailed “glad tidings of great joy” in a Christmas message last night after sealing his £660billion Brexit trade deal.

The PM gave the nation an early Christmas present yesterday as he secured a historic agreement which finally sees the UK take back control from the EU and ends four years of bitter wrangling.

Mr Johnson last night punched the air as he proudly showed off the 500-page trade deal.

Speaking in a video on Twitter, the PM said: “Tonight, on Christmas Eve, I have a small present for anyone who may be looking for something to read in that sleepy post-Christmas lunch moment.

“And here it is, tidings, glad tidings of great joy because this is a deal.

“A deal to give certainty to business, travelers, and all investors in our country from January 1.

“A deal with our friends and partners in the EU.

“You remember the oven ready deal by which we came out on January 31, that oven ready deal was just the start – this is the feast, full of fish, by the way.

“And I believe it will be the basis of a happy and successful and stable partnership with our friends in the EU for years to come.

https://www.thesun.co.uk

Brexit: Some progress, more gaps as UK, EU race to lock down trade deal

DW – December 18, 2020

Leaders from Britain and the European Commission did not take an overly optimistic tone following talks late Thursday over a trade deal that would keep the UK from crashing out of a transition period with the EU without a deal in place.

President of the European Commission Ursula von der Leyen said “substantial progress” had been made on several issues, but fishing rights remained a point of contention. At the same time, British Prime Minister Boris Johnson warned that a no-deal outcome was becoming “very likely.”

“We welcomed substantial progress on many issues. Yet big differences remain to be bridged, in particular on fisheries. Bridging them will be very challenging,” von der Leyen said following Thursday’s talks, adding that negotiations will continue on Friday.

With just days to go before the end-of-year deadline, Downing Street opted for a more pessimistic tone.

“The prime minister repeated that little time was left,” a spokesman for the British PM said. “He said that, if no agreement could be reached, the UK and the EU would part as friends, with the UK trading with the EU on Australian-style terms.”

Australia doesn’t have a free trade deal with the bloc.

https://www.dw.com