The United States on Monday told the WTO that it regretted the European Union’s seeking retaliatory tariffs for Boeing subsidies, and that it favoured a “negotiated resolution” with the bloc over its subsidies to rival planemaker Airbus .
FILE PHOTO: U.S. and European Union flags are pictured during the visit of Vice President Mike Pence to the European Commission headquarters in Brussels, Belgium February 20, 2017. REUTERS/Francois Lenoir
GENEVA: The United States on Monday told the WTO that it regretted the European Union’s seeking retaliatory tariffs for Boeing subsidies, and that it favoured a “negotiated resolution” with the bloc over its subsidies to rival planemaker Airbus .
The U.S. speech, seen by Reuters, came at a meeting of the World Trade Organization’s Dispute Settlement Body (DSB) which gave its formal clearance on Monday for the EU to impose tariffs on US$4 billion of U.S. goods.
“In conclusion, the United States strongly favors a negotiated resolution of its dispute with the EU over the massive launch aid subsidies it provided to Airbus. The United States has recently provided proposals for a reasonable settlement that would provide a level playing field,” the U.S. delegation said.
(Reporting by Stephanie Nebehay; editing by Michael Shields)
European Council chief Charles Michel has criticized Turkey’s actions after Erdogan says Emmanuel Macron needs ‘mental check’.
“Instead of a positive agenda, Turkey chooses provocations and unilateral actions in the Mediterranean and now the insults. This is intolerable. There should be respect to Europe and its member states,” the top EU official tweeted.
Turkish President Recep Tayyip Erdogan earlier launched an attack on Emmanuel Macron. Erdogan questioned French President’s mental condition while criticizing Macron’s attitude toward Islam and Muslims.
Տեքստում սխալ կամ վրիպակ նկատելու դեպքում, ուղարկեք խմբագրին հաղորդագրություն` նշելով տվյալ սխալը, այնուհետև սեղմելով Ctrl-Enter:
Women and children from Artsakh, who have forced to flee their homes due to the Azerbaijani aggression launched on September 27 against Artsakh, organized another rally on Monday outside the EU Delegation to Armenia.
The participants of the rally are hold posters, reading՝ “Stop Azerbaijan aggression”, “Stop Turkey”, “Recognize Artsakh”. They have also prepared a letter and plan to hand over to the Head of EU Delegation to Armenia, Ambassador Andrea Victorin.
“Today, Artsakh mothers, sisters, women and children, who occurred in Yerevan due to the war unleashed by Azerbaijan and Turkey, have gathered outside the EU Delegation to Armenia with a demand not to stay silent. We urge the European Union not to turn a blind eye to our sufferings. We do not ask for protection but to give a legal assessment of the current developments in Artsakh,” one of the participants said. They also call to stop putting false equivalence between the conflict parties and impose sanctions against Turkey and Azerbaijan.
To remind, number of rallies have been organised in Yerevan in the recent days, including in front of the buildings of EU Embassies and the UN Office.
MAKKAH: The Muslim World League (MWL) has condemned attempts to insult and abuse followers of religion. The MWL stated that the principle of freedom of expression must be framed by values based on respect for the feelings of others and that freedom of opinion, when it deviated from those values, offended the moral meaning of freedoms. Dr. Mohammad bin Abdulkarim Al-Issa, secretary-general of the MWL, said the body was aware that the motive for stirring religious sentiment was “on the face of it” nothing more than a provocation for material gain.
The Gita wasn’t the first book that connected me to Krishna, yet it remains the most impactful reading experience of my life. I remember that first reading clearly – I stayed up late, drawn into the story of Arjuna and wondering what decisions he yet might make. The ending didn’t disappoint.
I’ve returned to that good book recently, for an hour a day, soaking in its words as if reading it again for the first time. I am now older and wiser in the practice of Krishna Bhakti and yet it still moves me, still delights, still informs.
Besides reminding me that I am a spirit soul, individual and with an eternal form, what else about the Gita do I love?
First, the generosity of the invitation to a relationship with Krishna. Again and again Krishna says, anyone, no matter from what level or sphere of life one is in, can directly interact with Him. Race, country, status, or what we have done or not done, cannot exclude us from our individual choice to reconnect with Krishna. His door is wide open, always.
Secondly, the reminder that it’s all about love – not peace, not liberation, not becoming one with. Not winning, not losing, being right, or being the best. It’s about pure, exuberant, unconditional love for the source of all life, Sri Krishna. The experience of it, the exchange of it, the absorption in it. How nice is that? We are meant to love and be loved. Why we run from that is our great misfortune.
Thirdly, the absolute simplicity of the process. Just hear about Krishna. Of course, this simplicity is complicated by the messy and miserable material world that we are part of. Our body is a mass of emotions and fears which successfully distract us throughout the day from thoughts of Krsna. The Gita is a loving reminder – Krishna is everywhere. Call on Him, think of Him, feel His presence. When we put our mind, our attention to that, amazing things happen. That’s the power of love, and the secret of love, to be found at the heart of the Bhagavad-gita.
I have many favorite verses and here is one from today’s reading:
“I envy no one, nor am I partial to anyone. I am equal to all. But whoever renders service unto Me in devotion is a friend, is in Me, and I am also a friend to him.” 9.29
And a sweet jewel from the Purport: “When a diamond is set in a golden ring, it looks very nice. The gold is glorified, and at the same time the diamond is glorified. The Lord and the living entity eternally glitter, and when a living entity becomes inclined to the service of the Supreme Lord he looks like gold. The Lord is a diamond, and so this combination is very nice.”
“Muslim women are supposed to be at home cooking, cleaning, and having kids. That’s what we do to some extent but we can do so much more. I am determined to smash those stereotypes”
By Gail Davis
Last Updated: 26/10/20 10:30pm
Zainab Alema shares her experiences as a black, Muslim, female rugby player
In the not too distant future, Zainab Alema hopes to be sitting on the sofa, cup of Earl Grey in hand, cheering on a Muslim woman playing for England.
If it happens, expect tears – lots of them – because this woman known to her team-mates as ‘Bulldozer’ has spent her playing days smashing plenty of physical, emotional and cultural obstacles to get out there.
1:42 Zainab Alema on ‘Bulldozer’ nickname
Zainab Alema on ‘Bulldozer’ nickname
Growing up, Zainab never thought about playing rugby – she didn’t even know women could. But from the moment she first got “stuck in” during a PE lesson at 17, she relished every second of “feeling free and just running”. The game became intertwined in her life “like an old friend”. But like old friends, there were times she’d question the relationship, feeling sometimes like an outsider, someone who didn’t belong.
From the moment she was born prematurely at only 26 weeks, she was a fighter and says she had an innate drive: “If I want to do something, I try my hardest to get it done”. She liked sport at school but until that PE class, she never loved any sport. That same PE teacher who encouraged her to give it a go got her into a training session at Ealing Trailfinders, but even then, Zainab’s rugby journey almost didn’t get started.
“I was so excited to go to my first session and I got lost and the coach came to find me and by then, the session was over. I was so mortified. I have lived in London all my life but I got totally lost.”
Accessibility, is she believes, one of the hurdles she had to overcome. “Often clubs are in secluded areas where you have to walk so far along the road before you actually get to the club. For me when I started at 17, I was going by myself by public transport. It was tough especially in winter, down dark streets. My team-mates had their parents dropping them off in cars but I had such a passion for the game, I just carried on.”
3:02 Zainab Alema on early challenges
Zainab Alema on early challenges
By far the biggest obstacle for Zainab has been her culture. She says she often gets stared at and commented on when she is in the park kitted up, complete with her hijab and rugby ball in her hand. Her dad couldn’t understand why an African Muslim woman would want to play rugby, “a male, elitist sport”. There are stereotypes she says of Muslim households: “Women are supposed to be at home cooking, cleaning and having kids. That’s what we do to some extent but we can do so much more. I am determined to smash those stereotypes.”
It’s not been straightforward. While studying to be a neonatal nurse at university, she joined the rugby team but sometimes struggled to fit in, not just because of the way she looked.
“I felt a bit out of place because a lot of the time, socialising was so alcohol-based. Not that the team would do it on purpose. We would have a pint for the Woman of the Match and I would win it quite a lot, and then have to nominate someone to have it, and it was so uncomfortable I wanted the ground to swallow me up. It may seem like something little to someone else, but it was those little experiences that were so difficult for me.
“I was the only black person on my team wearing a hijab and leggings under my shorts. I look different and all of that stuff played on my mind. I would end up just playing and then go, and when I look back, it makes me feel a bit sad. I didn’t get that time to connect with my team off the pitch, just because of that awkwardness.
“People say, you could just sit down and have a coke, which I do now, but I think in uni it is a bit different. I guess you go to the bar a lot more too.”
When she left university and began nursing, she found something was missing in her life. She needed a way to release the stress so she began looking for a new rugby club.
“What I did was have a little nosy at them on social media. What’s the vibe of the club? Is there a black person? Is there an Asian person? Is there someone that I can relate to?”
She settled on Millwall and earned herself her ‘Bulldozer’ nickname. Her job as No 8 was to pick the ball up at the back of the scrum and smash straight into the opposition fly-half.
“The name is sort of a metaphor for what I’m doing and who I am. It smashes and demolishes things, it’s like what I am doing with stereotypes. I kind of like it and it has stuck.”
2:15 Zainab Alema on barriers
Zainab Alema on barriers
Zainab currently plays at Barnes Rugby Club. “They’re amazing and it’s weird even though Barnes is a very middle-class area and there are barely any black people at the club, I feel so at home.
“I guess because I’m an adult, I know how to take control of my emotions and I can say no if I don’t want to be in an environment. We had another black woman join us recently because of me, and that’s brilliant.”
Given that, perhaps things are beginning to change – “there is a slow progression,” she says. Her hero was World Cup winner Maggie Alphonsi and now she loves watching England’s Shaunagh Brown.
“There is more visibility and I like to be active on my social media, because I want people to know that yes, if you’re black and a woman, you can play rugby. I know how difficult it is so I want to be open with my journey so that other people like me coming through, or thinking maybe I want to try rugby, can look at me and say you know what, I can do it.”
Zainab runs ‘Studs in the Mud‘, where she uses rugby to try and change people’s lives for the better, shipping out kit around the world to give people, particularly women and children, the chance to play. She also has a project which aims to encourage more Muslim women to give rugby a go.
“It’s about making a safe space. We are so underrepresented – I thought I was the only one at one point so I’m trying to amplify our voices and create somewhere for them to play. We’re here for you to come and give you advice. I’m hoping that we can go and watch each other’s games, have little social things together, and have a sense of belonging within the rugby community.”
Zainab goes on to talk about the one time she very nearly did turn her back on rugby. “I was ready to say you know what, I’m done, I can’t see myself in this space. It was quite emotional.
“I went on to the World Rugby guidelines and I wanted to see for myself if someone like me could play in a headscarf, a hijab. I was ready to leave but seeing that it was OK to play in one cemented it for me. There in black and white, it said I can practise my faith and play the game. I can be a Muslim rugby player.”
2:37 Zainab Alema on belonging in Rugby
Zainab Alema on belonging in Rugby
What does your dad think of rugby now?
“Oh, he’s so proud. I was in The Telegraph a while back and he was straight off to the newsagents to buy a copy and get it framed to put it up on the wall and I thought, ‘hey, are you the same person who was asking me why do I want to play rugby?’ He’s so super proud of me right now.”
“You have to see it to be it,” she concludes.
Zainab will carry on ‘bulldozing’ her way through the game – being different and standing out is no longer a negative for her. She’s using it to make rugby truly diverse. She’ll deserve that celebratory cup of tea if and when her rugby ambition is realised, and there’s a Muslim woman wearing the red rose of England.
The statement outlines that the trading of shares with a European Economic Area (EEA) ISIN on a UK trading venue in UK pound sterling (GBP) by EU investment firms will not be subject to the EU STO. This currency approach supplements the EEA-ISIN approach outlined in a previous ESMA statement of May 2019.
This revised guidance aims at addressing the specific situation of the small number of EU issuers whose shares are mainly traded on UK trading venues in GPB. ESMA, based on EU-wide data, regards that such trading by EU investments firms occurs on a non-systematic, ad-hoc, irregular and infrequest basis. Therefore, those trades will not be subject to the EU STO, under Artcile 23 of MiFIR.
ESMA has done the maximum possible in close cooperation with the European Commission to minimise disruption and to avoid overlapping STO obligations and their potentially adverse effects for market participants. The approach put forward by ESMA will effectively avoid such overlaps if the UK adopts an approach that does not include EEA ISINs under the UK STO. ESMA however notes that the scope of the UK STO after the end of the transition period remains unclear at this stage.
In the absence of an equivalence decision in respect of the UK, the potential adverse effects of the application of the STO after the end of the transition period are expected to be the same as in the no-deal Brexit scenario considered in the previous ESMA statement.
The application of the STO to shares with a different ISIN should continue to be determined taking into account the previous ESMA guidance published on 13 November 2017.
NATO was created in 1949, with the dual aim of keeping the peace among the Allies and providing a security alliance against the Soviet Union, there has been a tension between whether or not NATO should drive the security agenda in Europe.
Since 1949, a number of European-wide organisations have tried to coordinate European defence policy – from the failed attempt at a French proposal for an integrated European Defence Community in 1954, to its alternative, Western European Union (WEU), former association (1955–2011) of 10 countries (Belgium, France, Germany, Greece, Italy, Luxembourg, the Netherlands, Portugal, Spain, and the United Kingdom) that operated as a forum for the coordination of matters of European security and defense.
The precursor to the EU, the European Community, didn’t really put security matters on its agenda. So it was in the mid-1990s following the Maastrict Treaty that the newly-formed EU began to develop its own common foreign and security policy and the relationship with NATO began to shift.
NATO had already developed a good working relationship with the WEU, but this really became relevant in 1996 with attempts to use the WEU as an institutional bridge between the EU and NATO. As long as the EU remained an organisation without a defence component to support its common security policy, and NATO an organisation focused strictly on collective defence of its members, the EU had little need to develop military ties with NATO. However, as some EU member states started to consider an autonomous EU defence and security instrument towards the end of the 1990s, this relationship became unavoidable.
After a 1998 joint summit between the UK and France at Saint Malo, the formal process began towards creating the EU’s Security and Defence Policy (ESDP – now termed CSDP). Attention started to focus on an alternative arrangement to the WEU as the bridge between the two institutions.
Once the EU formally adopted the WEU’s “Petersberg Tasks”, which set out the conditions under which militaries could be deployed, the relationship between the EU and NATO changed from one of informal meetings to something more institutionalised. Formal committees and structures began to be mapped out by 1999.
However, cultural and institutional differences between the EU and NATO still had to be reduced before any official arrangements could be finalised. NATO retained a very strict security regime dating back to its Cold War years, while in contrast, the EU was designed as an open and transparent organisation. In order to adapt to a stricter security policy, the EU modelled its security framework on NATO. This was also helped by the fact that most EU states have also been NATO member states – currently 22 are members of both.
A new Era of EU-NATO Cooperation
EU-NATO relations facing new challenges and these are confronting both the European Union NATO today are severe and complex, including terrorism, refugee and migration crises, hybrid threats, disinformation. The importance of EU-NATO cooperation, based on shared values and interests, has become more critical than ever.
Both organizations need to pay growing attention to hybrid threats. A shared understanding is gradually emerging about the need for active countermeasures and improved resillence to malicious influence by external actors seeking to undermine Western democracies and current international order. The EU in particular has an important role to play in strengthening Europe’s resillence, but has yet to buil a coherent response including shared analysis drawing on relevant EU policies and improved crisis-response mechanisms. The second major challenge, capability development, has been at the focus of EU-NATO cooperation ever since the creation of the EU’s Common Security and Defence Policy, but with few results. New EU initatives are being developed which can potentially make an important positive contribution also to NATO.
EU and NATO Member States are slowly waking up tp the new reality that there will be no bussiness as usual. It is hard to dispute the extensive progress the EU and NATO have made in deeping their cooperaiton. However, the direction in which the relationship should head is far from being decided. Some argues that there is a need for NATO to Europeanise as a result of the EU’s increasing strategic autonomy. The argument goes that if the EU were progressibely phase put its defence related dependence on the US, NATO could become primarily European. In contrasts, others see the feasibility of division of labour between the two, one that could eventually be conducive to an EU-US alliance in lieu of NATO as such. Others meanwhile argue for a US withdrawal form NATO and for leaving European security to the Europeans.
As Members of the European Parliament we will have to take important decisions that will make one or the other of these options a reality.
Ryszard Czarnecki: Politician from Poland, Former Vice-President of European Parliament, Minister of European Affairs and Minister in Prime Minister Office
The European Union achieved spectacular market success this month when it launched its new “Support to mitigate Unemployment Risks in an Emergency” bond programme (SURE).
The €100bn programme will be used by the EU to support member nations addressing pandemic job security and social welfare weakness over the next year.
The first €17bn bond issue off the SURE programme achieved perhaps the largest order book for a financial asset in history: €233bn in demand from investors.
That could mean a number of things — that investors just love the EU, or most obviously that the deal was mispriced too cheaply. And the 10-year bond tranche was sold at a negative yield.
But credit where credit is due, the deal’s success is truly remarkable. No doubt it will win every Debt Capital Award there is (yes, there are such things). It represents a real turnaround for the EU, which actually managed to agree an initiative to finance jobs and growth, and got the plan underway.
The staggering demand for the bond also highlights just how easily nations are financing the emergency costs of the pandemic in today’s ultra-low interest rate environment via increased borrowing — something the US and UK should be watching carefully.
The truth is investors value the European Central Bank Put: the ECB can buy up to 50 per cent of the deal via its quantitative easing programmes, therefore guaranteeing liquidity in the bond.
However, like all things involving Brussels, it’s really not just a simple success story.
For a start, the ECB is now tied into guaranteeing liquidity in perpetuity. The merest hint that the QE programme is not perpetual will cause the price of all its bonds to crash. Should the ECB ever try to raise European rates, the price of all bonds will demonstrate the effects of financial gravity — and destroy the reputation of the EU as an issuer.
The real story that the EU doesn’t want to talk about is how the SURE Bond Issue represents a massive step forward in the creation of the European Superstate — bypassing any meaningful discussion of what that entails for European democracy. What the EU bond achieves is the transfer of fiscal sovereignty from member nations to Brussels. And no one got to vote on it.
Back in Frankfurt (the not-quite-the-centre of European finance the Germans imagine it to be), that solo EU critic, Bundesbanker Jens Weidemann, has been desperately warning against EU joint-borrowing initiatives. If it happens, he argues, it should be strictly one-off, and should not become a common budgetary tool.
Sadly, no one is listening to Weidemann. He is a lone voice in the Frankfurt financial wilderness..
Pre-euro, the Germans had the curious notion that countries joining the Eurozone would meet the strict membership rules of the single currency by exercising sound fiscal responsibility, reforming their economies, and ensuring solid accountable finances. Silly Germans.
There are no doubts as to the credit quality of the EU bond. Moody’s, the credit rating agency, rates the EU as Aaa (the same level it rated a lot of stuff before 2008). Although Brussels is out raising new EU debt, the EU has still not agreed on banking union, common fiscal policy, or closer political tie-up. All that is agreed are the rules of the monetary union restricting how much states can borrow and the size of deficits — rules that are completely unenforceable in the current pandemic economy.
The new SURE Bond was sold as near-equivalent to the German Bund, but yielding 40 basis points more. Its equivalency to German state debt is “implicitly” true. Note the subtle difference: it’s true, but not “explicitly” true. (That’s what being a debt capital markets banker teaches you.) Although there is no joint and several liability requiring EU members to repay the bond, it’s hardly imaginable that the Germans would ever walk away if Brussels found itself unable to repay… or is it?
What all this essentially shows is that the implicit guarantee promises of the bond are yet another Brussels fudge, hoping the wobbly construct never gets tested. Every single investor who bought the bond understands this was a cheap Bund — just don’t tell the German political classes they are on the hook for it.
Funding Europe directly from Brussels very much suits the agenda of the autocracy of EU bureaucrats whose objective is oversight over member states’ budgets (and everything else), and also of the ECB (for the same reason). ECB president Christine Lagarde is not a banker or economist, but a very smooth French political operative. She sees common issuance of “Eurobonds” to finance Europe as a convenient policy tool to quell dissent between members over the impossibly troublesome monetary rules, and to centralise control of European debt.
After next year’s Recovery EU bond binge, the next stage will be an initiative to coordinate and align the joint issuance of European debt. It already looks inevitable. It will be argued that a larger, more liquid single European sovereign bond market will improve funding and the economic relevance of the EU. The fact it further diminishes national sovereignty will be a small price to pay.
Lagarde wants joint issuance to be part of her armoury. That plaintive wail you heard in the wind was Weidemann’s warning that “closer political integration would be needed and for the EU to develop into a democratic state” before common bond issuance is even contemplated — but the reality is it has already happened. The fantastically successful SURE bond was the first step in Brussel’s state-capture of European states financial sovereignty.
European states will no longer need to go to the market to raise euros to bulwark unemployment or stem job losses — now they apply to Brussel for handouts. No longer will they need to finance much-needed projects via markets in their own name.The new EU funding programmes fit perfectly with the rules of single currency membership: independent nations can’t run up large state deficits under the terms of the euro, but client states beholden to Brussels just need to ask nicely.
