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Inicio arrow newsitems arrow ECB President Draghi to EuroFora : BRICS' developments raise Interesting Questions for €uroZone

ECB President Draghi to EuroFora : BRICS' developments raise Interesting Questions for €uroZone

Escrito por ACM
14.07.14

 mario_draghi_400

*Strasbourg/EU Parliament/Angelo Marcopolo/- New developments on the BRICS' countries (Russia, China, India, South Africa, Brazil) raise Interesting and Topical Questions for €uroZone, replied in substance ECB's President Mario Draghi, to a relevant Query by "EuroFora",

just before a landmark INTW by Russian President Vladimir Putin to the Press Agency "Itar-Tass",apparently, fully confirms that, (See Infra). .


Significantly, Draghi said that to "EuroFora" at the eve of an exceptionaly Important Heads of State/Governments' Summit of the BRICS due to Start Tomorrow in Fotraleza, (at Brazil's Norhern Coasts to the Atlantic Ocean), almost at the same time as, in parallel, another exceptional EU Member Countries' Heads of State/Governments' Summit is scheduled for the Day After : Wednesday, July 17, in Bussels.

ep_eco_committee_with_draghi_400


Meanwhile, ECB's President had already started to participate in New EU Parliament's (as it has recently emerged from the May 2014 EU Elections), 1st full working Plenary Session, this Week in Strasbourg, (14-17 July 2014), where he has just made a Speech and Debated with MEPs at its Economic and Monerary Committee this Monday Evening, in the General Framework of a recently established, quasi-regular "Monetary Dialogue" between the EU Parliament and ECB.


 At first, Mario Draghi smiled kindly and greeted "EuroFora", that he already knew both from his earlier visits to EU Parliament in Strasbourg, but mainly from several ECB's Press Invitations for "EuroFora" to visit the European Bank's Headquarters at nearby Frankfurt, (Comp. f. ex. : ...., etc),  as well as from certain of our working trips to Brussels' EU Summits, (where ECB's President started to be systematically invited to EU's Heads of State/Governments' meetings focused on Economy since December 2011, while, in addition, the €uroArea Treaty, proposed by the Franco-German "motor" on August 16, 2011, in Paris (See relevant "EuroFora"s NewsReport from Elysée Palace, then), decided by the December 2011 and the January 2012 EU Summits in Brussels; and signed by EU Heads of State/Government on March 2012, explicitly provides for a regular presence of ECB's President in all special €uroArea Member States' Summits).

brics


- "What do you think, Mr. President, about the recent developments on the BRICS countries ? Do you believe that they can affect, in one way or another, the €uroZone,  and/or that there might be at least some useful concrete points for Cooperation with them ?", "EuroFora" asked, on this occasion, Draghi, after reminding him the Fact that Russian, Chinese, Brasilian, South African and Indian Heads of State were holding a Summit "Tomorrow".


- ECB's President clearly indicated to "EuroFora" that, indeed, he was well Aware of that imminent BRICS' Summit, and he "knew" about its main points.

 

ecb_president_arriving_towards_agg_400


 + Moreover, Mario Draghi, reacting Positively to "EuroFora"s Query on the BRICS, clearly stressed that, in his opinion, effectively, - "This is a very Good Question, indeed !" for Topical €uroZone issues, as he explicitly acknowledged.


- Therefore, he expressed the view that "I should have been asked such a Question earlier Tonight", i.e. during his above-mentioned Debate with MEPs at EU Parliament's Economic and Monetary Committee on various Topical developments, and Regretted the Fact that, unfortunately, at least for the time being, Noone among the MEPs who were present this Evening in Strasbourg, didn't raise that yet...


++ This fact practicaly Hinders me to give a Full and substantial Reply Now to such an Interesting Question, since I have to leave the Parliament the Fastest possible, for other meetings, Draghi apparently regretted, speaking to "EuroFora" during this same Evening that New EU Commission's President-designate, former long-time Prime Minister of Luxembourg, and €uroGroup's Chairman, Jean-Claude Juncker, was reportedly gathering around him, elsewhere in Strasbourg, several Top EU Personalities, in order to prepare a Crucial Debate and Vote, Tomorrow at EU Parliament's Plenary, on his Election as New EU Commission's President for the Next 5 Years of the period 2014-2019, as well as to hold Consultations for the entire Next EU Commission's composition and individual Members' choices...


- However, Draghi appeared, as usual, fond of pertinent Comparisons between €uroZone's 18 Member Countries, and various Other Actors at the International level. (As, f.ex., on the Relation that he found, in his view, between those Countries who have a High Unemployment of Young People, and those where Youngsters "Lack the Skills demanded by the Labor Market", as he said earlier Tonight, pointing mainly at OCDE's findings).

20140714_210353_400


+ Even more Interesting Comparisons could certainly be made by Mario Draghi also concerning the Topical Observations that he made ToNight at EU Parliament, about the Positive and the "Negative" aspects of a "Too Long" prolongement of a Total Lack of Inflation, f.ex. reportedly now at €uroZone, in relation with the lack of sufficient Growth, and the respective Situation which exists now, in this regard, inside the BRICSn (f.ex. China, but also Russia, etc).


Moreover, "EuroFora"s Topical Question on the BRICS' developments in relation to "€uroZone" seems to really present a notable interest for President Draghi personaly, given also the notorious Fact that he is a Top Economist who emerged from the "Goldman Sachs" Financial services' Multinational Giant, who is,  by an astonishing Coincidence, the ... Creator of the very Word "BRICS", and a main initial Theorist of the Economic Power that the BRICS' Countries, and particularly China, among them, is reportedly due to acquire at the Horizon of 2050, compared to the USA, EU and Japan, etc, as a Famous "Goldman Sachs"' premonitory Graph has already Warned, based on the estimated GDP Growth of each :  

10_largesr_economis_of_the_world_at_a_2050_horizon_goldman_sachs_graph_400 

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Launched as early as already since 2001, the Goldman Sachs' experts' acronym "BRIC" (which became "BRICS" after the recent Addition also of South Africa, who hosted the previous, 2013 BRICS' Summit), was initially supposed to symbolize a Swift of "Global Economic Power", from the "G7" mainly Western-style, established "Bigger" Countries of the World, towards some Other, Emerging Giants from the formerly "Developing" World.


Meanwhile, indeed, the BRICS had had their 1st Summit held in Russia, at Yekaterinburg, back on 2009, and are Now due to start their 6th Summit of Heads of State for 2014, tomorrow in Brazil, at the Atlantic Ocean ressort of Fortaleza, where Russian President Putin will meet with Chinese President Xi, Brasilian President Rousseff, together with their Indian and South African counterparts; PM. Modi and President Zuma.


In fact, the Fast-Growing Economic and Financial Mass, as well as wide Trade areas, found at the BRICS Countries, had already incited, f.ex. the former French President Nicolas Sarkozy, when he had chaired the G8 and the G20, back on 2011, (Comp. "EuroFora"s NewsReports from the May 2011 G8 Summit at Deauville, and the November 2011 G20 Summit atstartCannes : . .....), to make a serious  Attempt to Convince China a.o. to Start Negociating a kind of Collective Contribution to a New kind of Regulation of the World's Monetary Order.


Already, BRICS' stance in real practice should normaly have been behind the fact that the €uro had reportedly succeeded to circulate and be used at approximatively the Half of the World's riches, almost at 50% - 50% with USA's Dollar, as ECB services declared recently at nearby Frankfurt.

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>>> All out of a sudden, just a few Hours after "EuroFora" evoke with ECB's President such Topical issues of relations between €uroZone and the BRICS, given several converging recent developments, it was anounced that Russian President Vladimir Putin, have an exceptionaly important Exclusive INTW to the Itar-Tass Press Agency, where he declares his Political Will to Boost the BRICS' "Role" in the World and "Raise" it  at a "New Level" :

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- In particular, the overall Idea is explicitly placed under the Banner of a strive towards "a Multi-Polar World", as Putin stresses from the outset, using a Terminology which would certainly please also his Chinese counterpart, the President Xi Jiping, and others among the BRICS Leaders....


- "The modern world is indeed multipolar, ....this is objective reality. Any attempts to create a model of international relations where all decisions are made within a single ‘pole’ are ineffective, malfunction regularly, and are ultimately set to fail", warns , indeed the Russian President, at the eve of the 2014 BRICS Summit (Comp. Supra).


- Fortaleza's Summit being "Sustainable Solutions" for an "Inclusive Growth", the 5 Heads of State are due to "consider the most Urgent Issues in Global Politics and the Economy, as well as the BRICS' Development"; Putin added Tonight.


+ In addition to a series of important GeoPolitical Issues such as, f.ex., "Cooperation inside the UNO", opposal to "Individual States' attempts to Impose .. a policy of Displacing "unwanted" regimes and .. "Unilateral" Solutions to Crisis", the "creation of a Mechanism of Regular High‑level consultations between (BRICS') Foreign Ministries on ...Regional Conflicts", etc., as well as "Cooperation in setting Rules .. in the Global Information space", and "Equal Rights for all Countries to Participate in Internet's management", "Analyse the situation in the World's HotSpots" and consider "Measures" to "prevent the Harassment of Countries who don't agree with some Foreign Policy Decisions made by the USA", and are threatened by "Unilateral Sanctions", instead of "promoting a Civilized Dialogue on all points at issue, based on Mutual Respect", (etc), as the Russian President highlighted, the BRICS intend, Today, also to Boost their "Economic Ties", advancing well beyond a growing "mutual Trade" between them, (which already became "over 300 Billions $ in 2013"), in a Huge "Market of almost 3 Billions Consumers", between Countries with "unique Natural Resources, and a substantial technological, financial and industrial potential", in order to "Draft", "at this moment", "on Russia's Initiative", a real "BRICS' Economic Cooperation Strategy" :


 - This includes Measures to face BRICS' "Needs" for a "serious Infrastructure Modernization", mainly thanks to the establishment of a "Development Bank" to support "Cooperation" and "Major Projects", as well as the "creation of a BRICS' Pool of Foreign Currency Reserves", as Putin revealed, which would certainly be of great Interest also to "€uroZone" Countries.


+ But, "First of all", there is BRICS' "Common Intention to Reform the International Monetary and Financial System", (including the IMF), which, "In its present form, is Unjust", by "taking a more active part in the IMF and the World Bank's Decision-Making system" : Since Bretton Woods (1945), the International Monetary System ...depends a lot on the US Dollar, or, to be precise, on the monetary and financial policy of the US Authorities", something tha "the BRICS Countries want to Change", (precisely as also EU Countries had explicitly tried to Start doing f.ex. since the 2011 French G8 - G20 Chairmanship, by former President Nicolas Sarkozy, in close cooperation with German Chancellor Angie Merkel).

amerkel__vputin

=> All this should contribute to enhance also the role of "International Law" and of the "UNO", at the World stage, where the present BRICS' Countries intend to eventually accept some "Strategic Partnerships" also with certain other willing Countries, (as f.ex. Argentina, etc), but without yet opening any process of Full Enlargement beyond the current  "Big 5", unless, perhaps, a  "Gradual Expansion" "in the Future",  Vladimir Putin concluded Today.

 

Meanwhile, as BRICS Countries stand now, they already "account for 21 % of global economic output, and have contributed more than 50% of World economic Growth in the past Decade" (2004-2014), according to the Chinese Press Agency "Xinhua".

brics_5_400 

(../..)


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(NDLR : "DraftNews", as already send to "EuroFora"s Subscribers/Donors, earlier. A more accurate, full Final Version, might be Published asap).

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    The incoming Swedish EU Presidency (July-December 2009) may still remain in favour of Turkey's controversial EU bid, despite June 2009 EU Elections' results, but it has "very strong demands on Turkey"'s obligation to respect EU Rules, said the Head of Swedish Foreign Ministry's Press Service, Cecilia Julin, to "EuroFora", reacting to critical Press reports.

    - "I know (that) the link is often made also to Sweden's position on Turkey"'s controversial EU bid. Indeed, "we (Swedish EU Presidency) are very much engaged in the future membership of Turkey, but not without fullfiling all the Criteria".

    - "It's very clear that we (Swedish EU Presidecny) have very Strong Demands on Turkey, in a sort of concept for Future membership of the Union, ...which will be a Long Process...", she stressed.

    This means, in particular, "the Copenhagen Criteria (on Human Rights, Democracy and Rule of Law), and also the adaptation to the Acquis of the European Union".

     - "If you listen to what Mr. Bildt (the Swedish Foreign Minister) says on Turkey at different occasions, it's very clear : We want Turkey to become part of the Union, in the Future. But we want it to fullfil all the Criteria : The Acquis of the European Union. That's very clear", she concluded.

    The Senior Official of the Swedish Foreign Ministry was reacting to critical Press Reports, from Brussels' Journalists invited by EU Commission's secretariat to Stockholm, who claimed that Bildt was abusing of a ..."Whip" (sic !) against Cyprus, by "threatening" the presence of UNO's Peace-keeping force at the "Green line" which separates the island's Government-controlled areas from the territories occupied by Ankara's army, if Nicosia didn't accept any political solution, regardless of Turkey's demands, before the end of 2009.

        Governing AKEL Party's new Secretary General, Andros Kyprianou, reacted by declaring that no-one can threat the People of Cyprus : -"We shall decide for our Future, and nobody else",  he reportedly said, asking to "keep calm". "In order to find a Solution soon, certain basic Principles must be respected", he stressed, calling those who feel an urgency to use their influence on Turkey. Other Political Parties were more critical.

    This was a reference to recently reported statements by Turkish Minister Bagis, Prime Minister Tayip Erdogan and Turkey's National Security Council (a Military-Political body), accused to push towards a partitionist "2 States" solution, contrary to UNO SC Resolutions for Cyprus' reunification.

    December 2009 is a crucial moment for EU's appraisal of Turkey's controversial EU bid, because EU Council has decided to review then Ankara's compliance with the European position on the recognition of Cyprus' Government, which was clearly set out by an EU reply of 21 September 2005 to Turkish Prime Minister Tayip Erdogan's claims, refusing to recognize even the existence of EU Member Cyprus, in controversial statements he made to London (former EU chair) on July 29, 2005.

    EU Parliament's latest Resolution on Turkey, adopted on March 2009 in Strasbourg, warned Ankara that "the non-fulfillment of Turkey's commitments... by December 2009, may further seriously affect the process of Negotiations" with the EU.

    In practice, the issue boils down to Ankara's "embargo" against Ships and Airplanes using Cyprus' seaports or airports at the strategic EU island, which traditionaly hosts one of the World's biggest Shipping flags. EU has already "freezed" 6 relevant Chapters in EU - Turkey Negotiations since December 2006, after Ankara refused to fullfil a commitment it had undertaken when EU had decided to open controversial "accession" negotiations with Turkey, back on December 2005.

    - "As far as EU - Turkey relations are concerned, it's clear that Turkey needs to fullfil its obligation of full, non-discriminatory implementation of the additional Protocol (to "EC-Turkey Association Agreement"),  This is an important issue....and should be addresseed as soon as possible as it clearly affects the pace of the accession negotiations.Issues covered by the Declaration of September 2005 will continue to be followed up, and progress is urgently awaited", warned earlier in Strasbourg the out-going Czech EU Presidency (former vice-Prime Minister Alexander Vodra).

    But the Head of the Swedish Foreign Ministry's Press Service, Cecilia Julin, dismissed "interpretations" by "some" that Foreign Minister Carl Bildt was reportedly "threatening" Cyprus with consequences on the UNFICYP, if it doesn't accept any solution until December 2009, while Turkey is reportedly delaying in an attempt to impose a partitionist "2 States" solution.

    On the contrary, Julin, stressed that "Sweden has strong demands on Turkey'"s respect of "Copenhagen Criteria and EU Acquis".

    Meanwhile, Sweden  is "concerned" about the risk of "Stalemate" in Cyprus' Talks, but is well aware that "the main responsibilities lie with the two leaders and the UNO", Europe playing only a role of "facilitator".

    After carefully verifying, the Head of Swedish Foreign Ministry's Press Service, stressed to "EuroFora" that Bildt's reference to UNFICYP "was not linked to a Threat", and dismissed those who "interpreted" it so.

    On the contrary, the Swedish EU Presidency acknowledged the fact that Peace Talks are mainly for the UN and the leaders of the Cypriot communities, EU's role being limited into that of a "facilitator".

    As for Turkey's reported attempts to impose a "2 States' solution", the Head of the Swedish Foreign Ministry's Press Service sharply replied by stressing that Turkey must respect the "EU Acquis" rules.

    In particular :

    - "Basically he (Bildt) underlined that it's the leaders of the two communities in Cyprus and the UN that have the main responsibilities for solving the problem", started to say the Swedish Senior Official to "EuroFora", referring to the above-mentioned "briefing".

    - "But the EU had a role in sort of pointing out the benefits and facilitating a little bit the outcome for the settlement of the whole Cyprus' issue", she added.

    - "And he did state the Fact, that the rest of the World (i.e. USA, etc) will, of course, look at the differend issues which are at the table, and the future of the UN Peace keeping force is part of what is at the table", she admitted.

    - "I understand that some have interpreted that as a Threat, by the Swedish Minister" "But", in reality, "it's a statement of a Fact, that, when we'll look at the differend issues, one of the issues on which we shall have to take a stand on, is the future of the UN Peace keeping force in Cyprus".

    Indeed, one of the questions usually raised for a Solution of Cyprus' issue is what International and/or European or other Guarantees, by a Peace-keeping force, might be needed afterwards, eventually for a transitory period.

    Questioned anew by "EuroFora" whether (according to critical Press Reports) this could be taken as a veiled warning that, if Cyprus didn't accept any Turkish demand for any solution whatever, it might be left alone to face Ankara's Military Invasion/Occupation, she denied :

    - "He (Bildt) didn't say it in that way"... "It was not linked to a threat, or anything like that", the Head of the Swedish Foreign Ministry's Press Service stressed.

    On the contrary, "he (Bildt) underlined that the main responsibility lies with the parties concerned on the island". "The EU can try to facilitate and show the benefits of reaching a settlement. But also, when the EU and the rest of the World (i.e. USA) will have to look at it, they will look at all the Facts on the table, and the presence of the UN Peace-keeping force is one".

    And "he (Bildt) didn't speak about that at all", she replied to "EuroFora" question on Turkey's reported attemps to impose, in one way of another, a partitionist "2 States solution".

    Asked whether Bildt's aim was to incite both parties to move forward efficiently, she agreed :

    - In fact, "the EU is really very concerned with the Stalemate in the situation. Yes !", the Head of Sweden's Foreign Ministry's Press Service anounced. That's why Bildt "was hoping for the two parties (i.e. for Turkey's also) to engage and break, a little-bit, the present stalemate, come to a solution of the issue" of Cyprus.

    But, replying  to a "EuroFora"s question on the risk, denounced by several politicians in case of strict Time Deadlines, for Turkey to provoke a stalemate and wait for the time to come to impose a partitionist "2 States' solution", she reacted by pointing at Turkey's obligation to respect "EU Acquis" :

    - "Turkey must fullfil the EU Acquis : That's clear !", the Swedish Senior Official stressed.

    More details are expected when Swedish Prime Minister Reinfeldt will debate his Programme with new MEPs at EU Parliament's plenary mid-July in Strasbourg, that he has visited already in 2008.

    Foreign Minister Carl Bildt became familiar with Strasbourg's CoE last year, when Sweden chaired the PanEuropean organization of Human Rights. As EU chairman-in-office, he will also chair the 27-member States strong EU Group inside the 47-member States strong CoE.

    Minister for EU affairs, Cecilia Malmstrom is well known at EU Parliament, where she has been an active MEP of the Liberal Group for many years, following also Press Freedom issues.

    Both have already made various statements at "EuroFora", on differend topical matters.

    ***

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