Merkel

Is José Manuel Barroso’s reappointment as European Commission president in trouble?  Probably not.  But the jury is still out on whether he will secure formal approval from the European Parliament as early as mid-July.  If he does not, it will be difficult to dispel the clouds of doubt that will linger over his future for two months or more.

Such uncertainty is hardly what the European Union needs at a moment when its banking system faces hundreds of billions of euros in losses this year and next, and when Germany and France, the eurozone’s two biggest economies, appear utterly at odds over when and how to rebalance their public financesRead more

Who were the biggest winners and biggest losers of the European Parliament elections?

Top of the winners’ list are surely Chancellor Angela Merkel of Germany and President Nicolas Sarkozy of France.  Merkel’s Christian Democrats destroyed her Social Democrat coalition partners at the polls, and Sarkozy’s UMP party brushed aside the opposition French socialists.  Merkel and Sarkozy will feel vindicated in their approach to the global economic crisis, particularly as regards the need to introduce tougher financial regulation (and to lecture central banks from time to time). Read more