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Europolitics Economic policy – SpECIAL DOSSIER The crisis: A test for Europe Pages 11-15 EUROPOLITICS The European affairs daily Monday 23 February 2009 N° 3699 37th year FOCUS ECONOMIC POLICY The ubiquitous EU G20 leaders lay ground for April summit crisis By Sarah Collins regulating financial markets, dealing The economic and financial crisis has with tax havens, toxic assets and execu- been on the front pages for months and Italian, German, French and British tives’ pay. However, the spectre of pro- is a source of anxiety for citizens and leaders should have agreed, on 22 Feb- tectionism and a lack of coordination their governments and companies and ruary, a general European line to take on national stimulus packages continue their management. It dominates the EU’s at a major meeting of the G20 group of to plague EU leaders trying to put on a agenda, so much so that it has become countries, on 2 April in London. The united front. “Only if we work together the main subject of all the high-level EU meeting in Berlin is crucial in forming and not against each other can we ensure meetings (see the list of key meetings for a united European stance at the April that we emerge in better shape,” Barroso the next ten weeks below). On the eve gathering, as differences over national insisted after his meeting with Merkel, of these important events, Europolitics rescue plans emerge among the member on 19 February. devotes a substantial dossier to what can states. And there is also the social aspect to be summed up in a single sentence: the France’s proposed bailout of the coun- consider: the Irish Congress of Trade EU urgently needs continuous coordina- try’s car industry, currently being exam- Unions organised a 21 February mass tion and a framework to move forward ined by the European Commission, has protest against the government’s han- coherently and effectively. Its raison caused concern in the Czech Republic dling of the crisis. And British MEP d’être, or even its very survival as a and Slovakia – which host French-owned Glyn Ford, in a 13 February article for Union, depends on it. car plants – because of provisions within the UK’s Tribune magazine, put for- Key meetings coming up: it that ensure French factories stay open. ward the idea that people will soon be 22 February: Informal meeting of the It is not clear whether the Commission demanding retribution for the “crimes” European G20 members ahead of 2 April will have decided on the issue before committed by “a combination of govern- summit; 23 February: General Affairs an informal summit of EU leaders, on ment deregulation, greedy bankers and Council (Brussels); 25 February: Conclu- 1 March, which will lay the ground for cowardly officials”. Barroso is shortly to sions of the de Larosière high-level group the European Council, on 19 March. meet with the social partners, and he on cross-border financial supervision;1 At a joint press conference with recently announced a special summit March: Informal European Council on German Chancellor Angela Merkel on employment to be held under the financial issues (Brussels), preceded by before the 22 February meeting, Com- Czech Presidency in May. a meeting between Barroso and repre- mission President José Manuel Barroso But growth projections continue to sentatives of East and Central European said, “Our unique European experience be revised for the worse; the EU’s latest countries; 4 March: Contribution of the is also helping us to build a vision not interim forecast, published on 19 Janu- Commission to the spring European only for Europe, but also for the world. ary, predicted a fall in GDP of between Council; 10 March: Ecofin Council; 19-20 The meeting of European G20 leaders 1.75% and 2.75% this year in the largest March: European Council in Brussels; 2 this Sunday here in Berlin will be an member states. Eastern European states, April: Meeting of G20 leaders in London important step in developing a clear and meanwhile, are also facing further uncer- to discuss the global financial system; united European position for the G20 tainty, with the recent plummeting of 7 May: European employment summit summit in London on 2 April.” currencies and assets; Barroso is to meet (Prague or Brussels) The major issues that need to be tack- with them ahead of the 1 March summit led ahead of the London summit are to discuss the issue, amongst others. n Sold by subscription only © reproduction strictly prohibited in any language www.europolitics.info The centrepiece EUROPOLITICSTHE EUROPEAN AFFAIRS DAILY of EU news www.europolitics.info ❏ Yes, I would like to subscribe to EUROPOLITICS daily: ❏ 6 MONTHS, 112 issues (paper version) + unlimited online access at the price of €890 (1). 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