FROM Peter Spiegel
A Migration Deal…a Compromise in Values? Countries of Europe are desperate to end the flood of immigration from Syria and other war zones, which last year exceeded a million people. They're making a deal with Turkey worth €6 billion. Tens of thousands of people would be shipped back and forth between Greece, Turkey and other countries to separate refugees from unwanted migrants. But the UN warns the plan might violate individual rights established by the Geneva Conventions in the aftermath World War II. Supporters say it's worth the risk to end the chaos -- and to prevent fascist parties from taking advantage of growing panic in Europe's democracies.
Europe’s Response to the Refugee Crisis An emergency summit of the European Union convened in Brussels today after yesterday’s decision by their interior ministers to re-settle 120,000 refugees from Syria, Iraq and Eritrea. Contrary to business as usual at the EU, it was not unanimous among all 28 countries.
Wild Swings in Global Markets Have Led to Fears of a Worldwide Slowdown “It wasn’t very long ago that the dread hovering over global financial markets was that things were getting too calm.” This summer, Federal Reserve officials were worried about complacency. Those days are very definitely over. America’s economy is finally looking good, but Wall Street’s sudden volatility is a signal that all is not well. We’ll hear how slow growth in Europe, Asia and South America has led to warnings about the continued impact of the worldwide recession.
MH 17: The Victims' Bodies Go to the Netherlands and the EU Points to Russia The Netherlands lost 193 of the 298 victims when Malaysian Airlines FH 17 was shot down over Eastern Ukraine, and it will lead the investigation. Earlier, a refrigerated train with the remains of victims went from the crash site to Kharkiv, which is under control of Ukraine. Pro-Russian separatists turned over the black boxes to Malaysia, which will pass them on to Dutch investigators.
Obama's "Solidarity Event" in Poland Is Aimed at Russia President Obama is touring Europe, in part to bolster security in the aftermath of Russia's aggressiveness in Ukraine and its takeover of Crimea. In Warsaw, Poland today he said he'll ask Congress for a $1 billion "European Reassurance Initiative." "We'll increase the number of American personnel army and air force units continuously rotating through allied countries in central and eastern Europe. And we will be stepping up our partnerships with friends like Ukraine, Moldova, and Georgia as they provide for their own defense."
Crimea Overshadows G-7 Meeting in The Hague President Obama is in the Netherlands for a planned, 52-member summit on nuclear security — and an unplanned meeting of the G-7 industrialized countries to deal with a more pressing subject, that of Russia's annexation of Crimea. Peter Spiegel is Brussels Bureau Chief for the Financial Times .
Bloodshed in Ukraine It's been another day of bloody clashes between police and protesters in Kiev, Ukraine's capital city. President Viktor Yanukovych says opposition leaders are trying to seize power by force, requiring him to order a crackdown. In Paris, US Secretary of State John Kerry responded to today's developments by "talking about the possibility of sanctions or other steps with our friends in Europe and elsewhere in order to try to create the environment for compromise." So what's at stake for Russia, and what's expected from Vladimir Putin?
European Allies React to US Spying Revelations One revelation from Edward Snowden was that the National Security Agency tapped the personal phone of German Chancellor Angela Merkel. Today, leaders of the European Union finished a two-day meeting, where American spying overshadowed economic concerns. President of the European Council, Van Rompuy, echoed their concern that "the partnership must be based on respect and on trust, including as concerns the work and cooperation of secret services." Peter Spiegel is Brussels Bureau Chief for Britain's Financial Times .
Secrecy, Diplomacy and Edward Snowden Edward Snowden says he went to work for a defense contractor so he could inform the American public about the government's secret surveillance of telephone and Internet conversations. Having fled from Hong Kong, he's still thought to be in the Moscow airport. Over the weekend, London's Guardian newspaper and Der Spiegel in Germany published new revelations that the US has spied on allies as well as enemies. Angry leaders in Europe say that could scuttle a trade deal between the US and the European Union — the biggest ever negotiated. Does the US keep more secrets than it needs to for national security? Should whistle-blowers be prosecuted or protected?
Nobel Peace Prize Goes to a Divided EU The European Union has been awarded the Nobel Peace Prize at a time when the member nations are sharply divided. The EU was formed in the aftermath of two devastating wars in less than 50 years. The Nobel Peace Prize rewards the achievements of the more recent past. Is it also designed to affect the future? Peter Spiegel is in Brussels for the Financial Times .
As Greek Talks Falter, Eurozone Future Uncertain There have been recent elections in France, Germany and Greece, key countries in the ongoing Euro debt crisis, but it doesn't look any closer to a resolution. In Greece, there were developments over the weekend as various parties from the national elections a week ago try to assemble a government. Peter Speigel is Brussels Bureau Chief for the Financial Times .
Challenge to Austerity Programs after French, Greek Elections President Nicolas Sarkozy, the French advocate of austerity, lost yesterday's election to the Socialist candidate, François Hollande. Two so-called reformist parties in Greece were also defeated by voters. German Chancellor Angela Merkel lost no time in warning new leaders to stick with the program. Peter Spiegel is Brussels Bureau Chief for the Financial Times .
Can the Leaders of Europe Save the Euro? In Europe yesterday, there was another summit and another delay in taking the action needed to stave off another worldwide recession. But even some pessimists concede there was a new sense of urgency that could lead to a rescue plan before it's too late. We hear about efforts to save the Euro and avoid another worldwide recession.
Can the Leaders of Europe Save the Euro? Yesterday's summit of European leaders put off action until Wednesday, another delay in a financial crisis that's beginning to sound like 2008. The possibility of so-called "contagion" goes like this: Greece is on the verge of default, and austerity measures have led to rioting in the streets. If Greece fails, private investors could lose faith in Spain, Italy and, possibly, even France, with US lenders potentially next in line. Nobody really knows the extent of the danger. Will the Euro, designed to stabilize the continent, require that it break apart?
Slovakia Posed to Block Expanded EU Bailout Package All of Europe is now focused on Slovakia, a country of 5.5 million people that didn't even exist before 1993. But Slovakia's parliament, in the capital, Bratislava, holds veto power over efforts to bail out Greece and rescue the Eurozone. Peter Spiegel is Brussels Bureau Chief for the Financial Times .
Is Time Running Out on the Eurozone? With a bigger economy than the United States, the Eurozone has the resources to avoid a break-up. But does it have the political will? With Greece imposing drastic austerity measures, Germany's parliament gave Chancellor Angel Merkel a bigger vote than expected today in support of increasing the Eurozone's bailout fund . We hear about the latest efforts to hold it together and the prospects for a double-dip recession worldwide.
East Asia: President Trump's first foreign policy test Starting with North Korea's latest test of nuclear missiles, a chain of events is causing instability in Asia. Could it turn into the first real foreign policy crisis of the Trump Administration?
As Brexit is triggered, negotiations with the EU begin The head of the European Union says "We're missing you already." But British Prime Minister Theresa May says, "There's no turning back." She's made this Day One of "Brexit" — as the UK becomes the first nation to break away after 60 years of European unity.
House Republicans release their Obamacare replacement As two House committees take up "repeal and replacement" of "Obamacare," there may be life left in the Affordable Care Act after all. Even Republicans are divided, and proposed changes won't make good on President Trump's promise to provide "health insurance for everybody."