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Friday, November 4th 2011

Magazine

European Summit in Brussels: story of another disaster foretold

Brussels, one day between the two European summits, the 23rd and the 26th of October 2011

For all those who like to enjoy a press review to start the day there are many reasons to get prepared for the apocalypse foretold. Some newspapers, radio and TV headlines herald the worst. What about the destruction of the Eurozone then? Are we heading to the end of European integration? Help!

By Arezki Yaiche


© Council of the European Union, 2011
© Council of the European Union, 2011
Since the first rescue package for Greece in May 2010, and even since the collapse of US bank Lehman Brothers in 2008, we have had the opportunity to kill ourselves several times. However each time last-chance European Summits have given us hope to stay alive. We all agree to consider that this dramatization refrain is tiring. The aftermath of the 2008 credit crunch which paved the way for the European sovereign debt crisis, triggered by the former conservative Greek Government indebtedness’s falsification, will soon make us all depressive. Please do not mention here the ecological crisis or the fragile nerves of our leaders would explode.

ALL UNITED IN SELF INTEREST

To get some fresh air in those disastrous times I recommend you to take a walk around Schuman area in Brussels with all those TV trucks waiting for the holly speech. It's fantastic to see how European current events do seem to be of great interest for the international press. Some journalists try so hard everyday to find the best background for their evening TV news bulletin. With their styled hair and microphones, they face daily a great dilemma: should they shoot in front of the European flags in front of the Commission's main building (Berlaymont) or next to the entrance of the building welcoming the 27 head of states and governments to save the world (Justus Lipsus)?
When it came down to it, some media and politicians talked about everything but the real solutions. It's ten times better indeed to focus on the manly tensions between the British Prime Minister and the French President or to laugh complacently like did some journalists invited to “Merkozy” press conference dedicated to mock Italian Prime Minister’s credibility. 
Except for some pledges for future… first steps... towards the beginning… of... the solution to save us all! What did we learn from this summit? Columns of the few journalists authorized to cover this event (some are doing a great job) and also unfortunately stupid remarks which tarnish the debate desperately needed to well understand those difficult issues… For instance we can some incredible remarks:  "we are doomed”, “Greeks are lazy liars”, “Italians are making fun of us”, “French people are arrogant”, “English people dare give us lessons”, “Germans are too rigid (adamant)” and “others countries are useless…."Are we not supposed to live in the democratic and progressive European Union?

RUN FOR YOUR LIFE!

So far the threat of destruction hasn't fostered convincing political actions. Except for some temporary measures postponing the disaster (Bank recapitalization, bonds purchase by the ECB, weakly financed European financial stabilization facility (EFSF)), we are witnessing simultaneous austerity measures in Europe (especially in Greece, Ireland, Portugal, Spain, and France). Today European citizens the most exposed to unemployment and to troubles linked to ailing welfare systems are the only to really suffer from this crisis.  The beauty contests to praise rating agencies have to cease and make way to real solutions on the long run (Eurobonds, financial transaction tax, financial regulation, green growth stimulus package, strong European economic governance and extension of qualified majority). A lot of Members of the European Parliament, civil servants of the European Commission, NGO's, national politicians and economists are struggling to develop those proposals in the media. We often try to comment some of these proposals on generation 112.eu : The solutions are on the table but the political will is not yet there. So run for your life!



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