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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).


---------------


++ 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.

 

-------------------


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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They voted to "freeze" UK Government's draft to put People in jail for 42 Days on "anti-terrorist" suspicion without charge, or they abstained. Don't they look suspect ?
-------------------------

CoE's debate on UK controversy stirs PanEuropean check of anti-terror suspects' imprisonment

Former Leftists of the Sixties would boil in hot water if they heard PACE's debate on the controversial 42 days detention without charge, currently drafted by the British Government :

A "Socialist" Government, a Socialist PACE Rapporteur and a Socialist Chair of PACE's Legal Committee, opposed a .. "Conservative" amendment (supported by .. Liberals, Democrats, etc), to freeze the measure, in order to protect Citizens' Freedom, by "waiting" until CoE's Venice Committee checks its conformity with Human Rights' principles.

"Left"'s support to Conservative-Lib.Dem's criticism, wasn't enough to obtain a majority, nor to make things as they were back in the good old days, when "Left" and "Right" had a clear meaning, as "liberty" and "restrictions"...

Conservatives and most Democrats were joined by the Left in voting for the "freeze", as well as Liberal Paul Rowen, while Socialist MEP Ivan Popescu, an experienced MEP from Ukraine (PACE Member since 1996-2008) abstained. But most Socialists, added to a few Liberals and EPP's Right, voted against.

Fortunately, someone inside PACE had the wise idea to shorten the Debate for less than 1 Hour, and put it on the Agenda only at the end of an exceptionally busy day, towards the end of the Evening, when most MEPs had already gone to taste wins and foods at various Receptions all around Strasbourg's "European" area : As a result, not even 42 MEPs weren't present..

Socialist Lord Tomlinson accused the leaders of the PanEuropean Assembly, in its highest body : the "Bureau", to "lack wisdom" by deciding to hold a Debate on an issue that neither the Socialist Chair of the Legal Committee, nor its Socialist "reluctant Rapporteur", did "not want to do", ...

tomllinson

Finally, everybody (critics and supporters alike) was happy to agree, in substance, that the controversial measure "may" gravely violate Human Rights, and therefore, PACE asked Legal Experts of Venice Commission to check UK Government''s plans.

But this might take more than .. 42 Days to do, since PACE's Rapporteur asked the Experts to enlarge their study in a PanEuropean comparison of all that is happening on "anti-terrorism" legislation in 47 CoE Member Countries, including Russia, Turkey and Azerbaidjan..

Bad lack : "The existing 28 days’ detention without charge in the UK is, in comparison with other CoE member countries, one of the most extreme : In Turkey, the period is 7,5 days, in France 6 days, in Russia 5 days, and in .. the U.S. and Canada just 2 and 1 days respectively", denounced Democrat MEP Ms WOLDSETH from Norway..

woldsteth

"Numerous respected human rights organisations, including Liberty and Human Rights Watch, have expressed serious concern" "The proposed legislation ...could easily lead to extensive abuses. ...Detention for 42 days means six weeks in which one is taken away from one’s family, friends, home and livelihood only to be let off without being charged. That will destroy lives and isolate communities", she added.

- "3 years ago, the UK Government sought to increase the period of pre-charge detention from 14 days to 90 days. Not long before that, it had been only 7 days. There was a vigorous debate ...and a ...compromise was reached of 28 days. We have to ask whether there are proper safeguards in place to extend the period to 42 days. I suggest that there are fatal flaws", reminded British Conservative Clappison.

- "What sort of society holds someone in detention for 42 days and does not have to tell the person who is in prison why they are there, or explain the suspicions that arose and led to their detention? What sort of society believes that that is the way to treat its citizens? That is an appalling injustice, ...A 42-day detention period will not make the UK safer. Instead, it will be the first step to giving in to terrorists; it is saying that we are prepared to sacrifice our democratic rights and the principles for which we have stood for centuries", criticized British Liberal Michael Hanckock

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"Comments made ...by Norwegian delegates are unfortunate", replied British Socialist MEP Ms.Curtis-Thomas, accusing them to "besmirch the reputation of our police force, which is one of the Best in the World", as she said, believing that "there are significant safeguards ...to ensure that individuals are not subjected to unlawful detention"

curtis

PACE "has serious doubts whether ...the draft legislation are in conformity with the ...case-law of the European Court of Human Rights. A lack of ..safeguards may lead to arbitrariness, resulting in breaches of ... liberty and ...right to a fair trial". PACE "is particularly concerned that: ..the judge ..may not be in a position to examine whether there exist reasonable grounds for suspecting that the arrested person has committed an offence;"; that "... representation by a lawyer may be inappropriately restricted or delayed;" that "information on the grounds for suspicion of a person ...may be unduly withheld.. ;" that this "may give rise to arrests without the intention to charge;", and; in general, that "prolonged detention without proper information on the grounds for arrest may constitute inhuman treatment", says Klaus De Vries' Report, adopted with 29 votes against zero.

vries

Records don't say if it took him 42 Days to draft his Report, but, at least, he knew why...

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