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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
french_finance_minister_sapin_replies_to_eurofora_question_g20__baden_baden_germany_400


*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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(Opinion).

 In Democracy, the forthcoming choices for EU's Top Jobs, as the New EU Parliament's President, new EU Commission's President (+ probably EU Council's President, EU Foreign Minister, etc) should be made according to EU Citizens' Votes in June 7, 2009 European Elections, and main EU Governments' strategic policies.

At the heart of the biggest EU Countries, in France and Germany, EU Citizens clearly voted for a renovated, non-technocratic but Political Europe based on Values, declared explicitly incompatible with Turkey's controversial EU bid.

This main choice was also supported in several other small or medium EU Countries, such as Austria (cf. promise of a Referendum), Spain (cf. EPP program's reservations vis a vis Enlargment), etc., while EPP Parties won also in Poland, Hungary, Cyprus, etc.

In other Countries, whenever Governing coalitions didn't make these choices or eluded them, continuing to let a Turkish lobby push for its entry into the EU, they paid a high price, and risked to damage Europe, by obliging EU Citizens to massively vote for euro-Sceptics whenever they were the only ones to offer a possibility to promise  real change and oppose Turkey's demand to enter into the EU :

It's for this obvious reason that British UKIP (IndDem) succeeded now (after many statements against Turkey's EU bid) to become Great Britain's 2nd Party, unexpectedly growing bigger even than the Governing Labour Party, as well as the Liberal party  ! Facts prove that it's not an isolated phenomenon : A similar development occured in the Netherlands, where Geert Wilders "Party for Freedom" (PVV) became also the 2nd biggest in the country, (after EPP), boosting the chances of a politician who had withdrawn in 2004 from an older party "because he didn't agree with their position on Turkey". And in several other EU Member Countries, even previously small parties which now focused on a struggle against Turkey's controversial demand to enter in the EU, won much more or even doubled the number of their MEPs (fex. Bulgaria, Hungary, Greece, etc).

On the contrary, whenever Socialist and oher parties were explicitly or implicitly for Turkey's controversial EU bid, they obviously lost Citizens' votes and fell down to an unprecedented low.

In consequence, EU Citizens clearly revealed their main political choices, in one way or another : They voted to change for less Bureaucracy, but more Politics and Values in a Europe really open to EU Citizens, but without Turkey's controversial EU bid.

Recent political developments are obviously different from the old political landscape which existed in the Past of 1999-2004, when Socialists based on Turkish 1% vote governed undisputed not only in Germany, but also in the UK, Greece and elsewhere, France followed old policies decided when it had been divided by "cohabitation", before the 3 "NO" to EU  Referenda since May 2005, before Merkel, before Sarkozy, etc.... before the surprises of 7 June 2009 new EU Elections.

If the current candidates to the Top EU jobs promise and guarantee to respect People's democratic choices, OK.

Otherwise, Europe must find new candidates, really motivated and able to implement these democratic choices of the People.

The beginning of crucial, final Decisions are scheduled for the 1st EU Parliament's plenary session in Strasbourg, in the middle of July, and they could be completed towards the October session, when Lisbon Treaty's fate will have been fixed.


See relevant Facts also at : http://www.eurofora.net/newsflashes/news/2009electionsandturkey.html
http://www.eurofora.net/newsflashes/news/daulelections.html
http://www.eurofora.net/brief/brief/euroelectionresult.html

 ***

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