The Russian food ban for US, Canadian and EU consumers is certainly going to have an impact – but it will create an even bigger impact for Russia itself. As David Cohen, the Treasury Department undersecretary in charge of economic sanctions explained, “What the Russians have done here is limit the Russian people’s access to…
Category Archives: Regional News
200th Anniversary Commemorative Coin in Malta
The Central Bank of Malta will issue €2 commemorative coin marking the 200th anniversary of the creation of the Malta Police Force on Wednesday July 16th. The Governor of the Central Bank of Malta, Professor Josef Bonnici, presented the coin to the Acting Commissioner of Police, Raymond Zammit. At the Central Bank of Malta there…
Launch of New EU Financial Instrument and Advisory Service
A new EU financial instrument and advisory service has just been launched to help firms to access finance more easily. The agreement was just signed by European research, innovation and science commissioner Máire Geoghegan-Quinn on behalf of the EU in Greece. The goal, over the next seven years, is for InnovFin – EU Finance for…
UK Threatens Action Against the Financial Transaction Tax
The UK is turning its anger towards the EU as the EU is implementing a financial transaction tax. Chancellor George Osborne has threatened new legal action after his pre-emptive challenge was rejected last week. As Osborne said at a meeting of EU finance ministers on Tuesday, “It’s not a tax on bankers, it’s a tax…
Portugal Looks To Meet Its Budget-Deficit Targets
The Portuguese government will continue cutting spending to try to meet budget-deficit targets. This includes cutting spending in ministries and lowering the number of public workers. As explained in the Wall Street Journal, “Portugal will exit a three-year, €78 billion ($108 billion) bailout program next month, but lenders—the International Monetary Fund and the European Union—want…
French Rail Industry Portal
France is trying to promote its railways, and it’s doing so with a new English-language web portal. The portal, which launched on March 21, 2014 has two main objectives. It will help to raise awareness among those in the industry worldwide about France’s great railway system. It will also promote news that focuses on France….
EU Renewable Energy Findings
In a recent article, they reported that renewable energy accounted for 14% of gross final energy consumption in the EU. This is up from 12.9% in 2011. As the article said, “Renewable energy employment, economic activity and investment indicators didn’t fare as well, however, reflective of ongoing fiscal and economic problems that have caused EU…
Reorganizing Finance Ministry in Lebanon
Thursday, the EU launched a 2.8 million euro in a twinning project that is supposed to reorganize the Lebanese Finance Ministry. The Finance Ministry Director General Alain Bifani, who represented Finance Minister Ali Hassan Khalil at the launch, said that the project is of the utmost importance. As he said, “The twinning project launched today…
Croatia Warned to Lower Its Deficit
Croatia, which joined the EU as its 28th member on July 1, has been given some homework. The EU finance ministers have ruled that Croatia has excessive budget deficit and that they must reduce it by 2016. According to the European Commission, Croatia’s deficit is expected to widen to 6.4% of gross domestic product in…
Michael Noonan Recognized by The Banker
Finance Minister Michael Noonan has been named the European Finance Minister of the year by the Financial Times magazine The Banker. In stark comparison, in 2010, Brian Lenihan was named the worst European finance minister by the “FT” when Ireland was facing a bailout. The current awards celebrate ministers who are restoring the economy and…
