It is a momentous day for the European Central Bank as it launches full-scale government bond buying. Mr Draghi started speaking at 13.30 GMT and the press conference usually lasts for an hour.
By Ralph Atkins and Lindsay Whipp
Within twenty years of the end of the second world war, the same European countries that had been sworn enemies during six years of bloody conflict committed themselves to a future of peace, prosperity and political and economic integration.
Some war crimes suspects slipped the net and avoided the Nuremberg trials, but their elusiveness did not interrupt or discredit the reconciliation process led by West Germany and France.
But two decades on from the wars that ripped apart the former Yugoslavia, it is impossible to make the case that reconciliation and integration are as advanced there as they were in western Europe by the mid-1960s.
The region’s societies, ethnicities and political leaderships remain bitterly at odds over how to assess the war crimes committed in Croatia and Bosnia-Herzegovina between 1991 and 1995.
By Gideon Rachman
Germany has a habit of winning the World Cup at symbolic moments. Victory in 1954 – captured in the film, The Miracle of Bern – allowed Germans a moment of pride and redemption after defeat and disgrace in 1945. A second victory in 1974 went to a West Germany whose “economic miracle” had, by then, allowed it to regain its status as one of the world’s most advanced nations. Victory in 1990, just months after the fall of the Berlin Wall, caught the joy and potential of a soon-to-be united Germany.
US-German relations strained over new spying allegations
Germany has summoned the US envoy following allegations that an agent working for Germany’s intelligence agency was spying for the US. Gideon Rachman is joined by James Blitz, former security correspondent, and Jeevan Vasagar, Berlin correspondent, to discuss what this means for already troubled relations between the Obama and Merkel governments, and how the two nations can resolve their differences in order to tackle the numerous shared geopolitical challenges they face.
The front page of Wednesday's Bild
When the final whistle put an end to the drubbing, the winning team celebrated with unusual restraint.
Despite an incredible seven of Germany’s 14 shots ending up in the back of the net, there was little gloating at having delivered a stunning 7-1 thrashing to Brazil, tournament favourites, on their home turf.
The players’ wish to express their joy of securing a place in a World Cup final was delayed by pity – a sense that their opponents, and the Brazilians in the crowd, should not be embarrassed further within the dome of the Estádio Mineirão in Belo Horizonte.
That will have won them as many fans as the flair with which they played last night.
Back in Germany, however, the reaction was as euphoric as one would expect when the national team secures a shot at football’s ultimate prize in such emphatic fashion. Read more
After all the UK press has written about him over the past few weeks, it is good to see Jean-Claude Juncker still has a sense of humour.
The former Luxembourg prime minister has largely kept his head down since he emerged as the front-runner for the European Commission presidency – and came under fire from UK prime minister David Cameron and the pro-Conservative battalions of the British media.
On Tuesday Mr Juncker broke cover to deliver a speech at a Berlin security conference – he had, he said, accepted the invitation before becoming embroiled in the latest battle of Brussels.
Explaining that he was between jobs – having handed over the reins in Luxembourg in December and yet to be installed in a new post – he added with a smile: “I am a transgender person, in the political sense.” Read more
By Gideon Rachman
Discussing Britain’s Europe policy earlier this year, a senior adviser to the prime minister shrugged: “I know we’re accused of putting all our eggs in the Merkel basket. But, frankly, we don’t have another basket.”
By Vincent Boland in Dublin
It is tough being number one. Just ask the Irish. One of the things Ireland has had to get used to over the past decade is being ranked top (or near the top) in a range of global surveys for this, that and the other. The reaction is two-fold: a moment of pride followed by the question, “Surely they can’t mean us?”
A decade ago, Ireland was named the world’s best place to live, by the Economist. Now a new ranking has comes along declaring Ireland to be the country that contributes most “to the rest of humanity and the planet.” That sounds like the kind of award countries should be winning.
The Good Country Index, compiled by the international policy consultant Simon Anholt, is essentially an interpretation of the results of surveys carried out by international organisations such as the UN and the World Bank. The index measures the contribution of 125 countries to the world in seven categories of achievement relative to the size of their economy. Read more
Just when it seemed that European politics could get no harder for Angela Merkel, a new complication has emerged in the tangled world of the EU.
The German chancellor is already involved in a head-splitting row over the probable appointment of Jean Claude Juncker as the next European Commission president. This week while Ms Merkel was in Brazil watching Germany’s opening victory of the World Cup, the first big split emerged in her ruling coalition.
Sigmar Gabriel, her deputy, pounced on Ms Merkel’s absence to challenge her eurozone economic policy, in an intervention that has the potential to sour relations long after the original dispute is forgotten. Read more
Now that most of the results have come in from the European parliament elections, let’s take a family photograph of Europe’s presidents, chancellors and prime ministers. Who have the broadest smiles on their faces, and who are sobbing into their handkerchiefs?
Among the European Union’s six biggest states – France, Germany, Italy, Poland, Spain and the UK – the happiest leader must surely be Matteo Renzi, Italy’s premier. He won, and won big. Mr Renzi (above) demolished the notion that Beppe Grillo’s anti-establishment Five-Star Movement is on an unstoppable roll. He also inflicted an emphatic defeat on Silvio Berlusconi’s centre-right Forza Italia party.
Even though it was not a national election, the youthful Mr Renzi can now claim to have a mandate of sorts for the political, economic and social reforms that he knows are necessary to modernise Italy. This is not to say that he will succeed – the power of entrenched anti-reform interests in Italy is formidable. But maybe he has a better chance than he did 48 hours ago. Read more
No doubt about it, Sunday’s European parliament elections have produced a political tremblement de terre – an earthquake – in France, with Marine Le Pen’s National Front (FN) claiming victory in the poll. But across the 28-nation EU as a whole, the mainstream pro-European parties will breathe a sigh of relief tonight at having held their ground relatively successfully against anti-establishment insurgents from the far right, far left and anti-EU camps.
The protest vote is not nearly big enough to be labelled a comprehensive rejection of the EU, its political values and its economic crisis management over the five years since the last European elections. Eurosceptics, broadly defined, are projected to win about 130 of the EU legislature’s 751 seats. Given that the EU has just gone through the biggest financial shock and recession of its 56-year history, the damage could have been greater.
Conversely, the vote cannot be considered a ringing endorsement of the cause of closer European integration. The mainstream centre-right European People’s party looks set to be the winner, but with its representation in the EU legislature sharply down to about 211 seats from 273. Moreover, estimates of a pan-European voter turnout of just over 43 per cent – well below the levels recorded in national elections in every member-state – indicate that more than half of the 388m eligible voters simply do not think the European parliament matters much. Read more
By Gideon Rachman
In America, they have Super Tuesday. Europe is about to have a Super Sunday, with elections for the European Parliament taking place across the 28-member EU, ending on May 25. That same Sunday, Ukraine will be holding a presidential election. The next day, Egypt will hold its own presidential vote. And then, towards the end of that week, on May 29, President Vladimir Putin’s pet project – the formation of a Eurasian Union – will receive the formal go-ahead with a signing ceremony between Russia, Belarus and Kazakhstan.
Ten minutes into moderating Friday night’s European parliament election debate in Florence, I was gripped with the unnerving sensation that someone was going to tap me on the shoulder and murmur: “Mr Barber, where is it all going wrong?”
Voting kicks off in less than two weeks, but the big event in the Palazzo Vecchio is unlikely to have any more influence on the outcome than the opinions of Lorenzo de’ Medici in his tomb. Read more