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Home arrow newsitems arrow Mnuchin US Interest Rate move Natural, says French Finance Minister Sapin to EF, at G20

Mnuchin US Interest Rate move Natural, says French Finance Minister Sapin to EF, at G20

Written by ACM
Friday, 17 March 2017
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*Baden-Baden/G20/Angelo Marcopolo/- French Minister of Finance, Michel Sapin, speaking to "Eurofora" during a G20 Finance Summit, backed US Interest rates latest move :

 

- USA Authorities recent decision to Rise Interest Rates "corresponds to the situation inside America", said the French Finance Minister, Michel Sapin, in Reply to relevant "Eurofora" Question.


 - As a matter of General Principle, "Central Banks' Decisions are Taken in relation with the situation of a Country, and of the Monetary Mass that they have to manage", he added.


 - Thus, given also the Fact that, inter alia, US has Now more "Growth", that Latest Move looks Justified, and does Not have any notable International Economy after-thought, Sapin said, apparently accrediting recent News about a so-called "Trump Boom" towards Higher Employment and Growth in North America.


+ But it's also the Recent ECB's Decisions which were also justified, went on to say the French Minister, apparently pointing at Nearby Frankfurt's Discussions about €uro's Higher price and Interest Rates' policies that might be considered by ECB's Chief, Mario Dragi (also Present here at Baden-Baden, and very Busy-looking).


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++ At another Global interest development, Sapin also Downplayed previous concerns about an eventual China - US clash on Trade and/or Monetary issues :  - "No", at least currently, "there is Not much about it, and it doesn't seem to be a real problem, he dismissed, in furher remarks to "Eurofora".


The French Minister was speaking on the sidelines of the G20 Meeting of Ministers of Finance which has just Started at Baden Baden in Germany, hosted by his collegue, Wolfgang Schauble, and extends Tomorrow, Saturday.


Earlier Today, Sapin had kick-Started his Bilateral meetings, at a nearby Hotel, with his New US counterpart, Steven Mnuhin, who had also met earlier with Schauble.


However, the current US Federal Reserve's Governors' Chair, Mrs Janet Yellen, (still in office at this G20 Finance meeting also of Central Banks' Governors), had been already apointed during the previous, Obama Administration, (2011 + 2014), for a mandate ending on Januay 2018.


Mnuchin's Family is said to stem from Russia, settling to the US since the very Beginning of the 20th Century, with his Grand-Father reportedly havin lived also in Belgium, long before Brussels becomes the nowadays Headquarters of EU Commission and Council, as well as NATO.

 

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Meanwhile, OECD's latest "Economic Policy Reforms" update, Focusing on "Going for Growth 2017", presented here, Earlier Today, by its Head, Angel Guria, (Comp. numerous Guria Statements to "Eurofora" on various Topical Issues, during many years, f.ex. at..., etc), together with Wolfgang Schauble, point at a Need for the US to Invest in "Public Infrastructures", almost as New US President Don Trump has notoriously promised during his succesful Electoral Campaign.


By intelligently Designing also Better Transport Facilities, such a move may even contribute to an Amelioration of Natural Environment, OECD's latest Report says.


As for the EU, OECD's latest recomendations focus also on a much-needed Amelioration of European Networks, (including in Energy, Transport links, and various other Sectors), almost as also EU Commisioner previousl for Energy, afterwards for Digital Economy, and curently on Budgets, Gunther Oettering, (also from nearby "Black Forest" area, as Schauble : Both ChristianDemocrats with Chancelor Angie Merkel), had already urged Earlier.

 

(../..)

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  Ten Years of ECHR : 1998 - 2008 show need of Revival in 2009-2010 coinciding with 2009 EU Election
   

A threefold, coordinated move by new Top French Political actors in the 2009 EU Parliament Elections, expressed in Strasbourg a will to boost Europe's Political dimension close to Citizens' concerns, going from protection of Economy to defence of Human Rights.    

The move met an exceptional ECHR's call for a "revival" of Human Rights' protection mechanism', in a Mega-Conference, early 2010.   

Obviously focusing on June 2009 Elections to EU Parliament, it involved from the outset the recently nominated "dual" Head of French Governing Party (UMP)  Michel BARNIER and Rachida DATI :

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     - "As President Sarkozy has clearly said, we (France) are in favor of a Strong, Sovereign and Independent, Political Europe, which protects its Citizens, and not for a large Super-Market, nor for a Europe under influence",

    "This goes for everything, including Energy", added to "EuroFora" the experienced former EU Commissioner, Minister of Foreign affairs, currently of Agriculture and Sarkozy's new pick as Leader of the Governing party UMP to EU 2009 Election, Michel BARNIER                                              .                             

  - Human Rights are important because they are at the Heart of the Political Europe that we aspire for : I.e. a Europe able to act and protect its Citizens, stressed also the New French Minister for European affairs, Bruno LE MAIRE, while meeting Strasbourg's Journalists at his first visit to the CoE.   

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This is one of the main interests for CoE, which is also a natural place for cooperation between EU countries and Russia or Turkey, which was recently helpful at the Middle East crisis, he added.

The move gained momentum with French Minister of Justice, Rachida Dati's main observations at ECHR's 5Oth Anniversary :   

- "While we are seeking Europe's Borders and Identity, you (ECHR) remind us also of its Values", Human Rights, Dati noted.   

Citizens seek more and more often ECHR's help, and the tempo accelerates, Europa awaits a symbol, while national legal orders are not freezed   

And she expressed "support" to ECHR President Jean-Paul Costa's call to satisfy the vital need to revigorate the PanEuropean Court by deciding big changes at a High-Level Conference open to a large audience, a kind of "Etats Generaux" of Human Rights, at the beginning of 2010.       

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It's not so much the recently growing number of applications for Russia or Ukraine etc, which seems to be Costa's main concern : In fact, the cases declared "admissible" are much fewer...    

But rather the persistent violations of Human Rights, sometimes very grave (ie. murders, torture, abritrary deprivation of liberty, oppression of freedom of speech, destructions of homes/properties, etc), despite numerous, repeated condemnations by ECHR. So that CoE's Ministers, due to "supervise execution" of ECHR's judgements, are overloaded.   

F.ex. most Media noted that Turkey still remains, even in 2008, the 1st among 47 CoE member States in the number of condemnations by ECHR :  257, compared to 233 for Russia, with a population more than the double..    

The problem is that it's not the 1st time at all : During all the last Decade 1998-2008, Turkey was condemned by ECHR much more than any other State, and for particularly grave violations :   

- 1.652 condemnations, compared to 605 for Russia, 548 for Poland, 494 for France, 476 for Ukraine, etc.   

Italy's second place with 1.394 condemnations is a misleading false appearance : In fact, most of them (999) concern mere "procedural delays" in national courts. Same for France.   

On the contrary, Turkey was condemned 180 times for Killings, 192 times for Torture or Inhuman/Degrading treatments, 340 times for arbitrary deprivation of Liberty, 528 times for "Unfair trial", and 169 times for oppression of Freedom of speech, (etc). And the latest, 2008 numbers, indicate no change in this trend, (See supra).   

The current Spanish CoE Presidency (November 2008 - May 2009) has made of the implementation of ECHR's judgements its 1st Priority.   

ECHR's President, Jean-Paul Costa, stressed in its 2009 Annual Press Conference, CoE Member States' obligation to implement the judgements, according to Article 46 of the European Convention on Human Rights.   

Moreover, if CoE's Committee of Ministers delays to ensure implementation, then, the repetition of violations in similar cases provokes a multiplication of complaints tabled to the Court, which overload the mecanism for the protection of Human Rights, denounced Costa.          

A series of Debates on "the situation of Human Rights in Europe", focusing on the "need to fight against Impunity" of perpetrators of grave crimes, is  currently prepared by CoE's Parliamentary Assembly for the session of June 2009.  

The final Timing comes shortly AFTER the EU Elections, but the main Reports should have been adopted before.

Meanwhile, French President Sarkozy and German Chancelor Merkel's recent call "for a Political Europe" in 2009 EU Elections (See earlier "correspondence from Paris, Elysee Palace), seems more and more endorsed also by other EU Countries' Top MEPs :

Thus, f.ex., EU Parliament's 1st vice-President, Greek MEP Mrs Rodi KRATSA, speaking to "EuroFora", agreed that 2009 EU Election would be a "naturally good" opportunity to debate what really interests EU Citizens : "The Future of a Political Europe, able to face the Economic Crisis, with a Culture and identity which attracts the People"

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(Photo taken earlier during Sarkozy's 1st visit at EU Parliament, in 2007 : Sarkozy and Merkel's Ideas for a Political Europe inspire also other EU politicians accross the continent)..
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