UD Leader Kyriacou with Turkish Prime Minister Erdogan and FNF's Joerg Denhert

“Political will is what is at need for the attainment of an agreement for the reunification of Cyprus and for the normalization of relations between Greece and Turkey,” said Prime Minister Papandreou during his recent visit to Cyprus.

“We also need to create conditions of trust between Greece and Turkey and between the Greek Cypriots and the Turkish Cypriots, for without trust no legal form of an agreement will survive through time.” He also emphasized that without the prospect of accession to the European Union, Turkey will have no incentive to move towards the resolution of the Cyprus problem.

Prime Minister Papandreou said that time is of the essence, since the nature of a problem gets more complicated as time progresses. (more…)

ELDR Vice President Van der Laan and Commission Vice President Kallas and Finnish Europe Minister Thors

The Netherlands will have a snap general election on Wednesday June 9, following the collapse of Prime Minister Balkenende’s fourth government since 2002. Whereas changing governments on average every two years is generally not something I would applaud, the early demise of this Christian Democrat - Labour coalition (with protestant conservatives thrown in for the majority), is probably a blessing in disguise. This coalition has achieved very little in their three years in office. (more…)

Kristiina Ojuland

In yet another proof of the socialists’ reflex to control other people’s lives European socialists’ president Poul Nyrup Rasmussen made an unprecedented move in lecturing the successful liberal government of Estonia by suggesting them to waste more tax payers’ money and trying to prevent Estonia to join the Eurozone.

In a crude logic he suggested that Estonia should not try to stick to the 3% threshold of a budgetary deficit in order to fulfill the criteria for the adoption of the Euro. Such a bold public move calls not only for the destruction of the successful European growth and stability pact but is an unacceptable interference in Estonian affairs. (more…)

Sharon Bowles, Liberal Democrat MEP for the South East of England

The agreed CRD text today in the European Parliament is a good step forward on core capital, exposures and supervision.

The securitisation provisions, now with proportional penalties for due diligence failure may not be perfect but it is fit for purpose - the purpose, to rebuild confidence and repair the securitisation market. Review at the end of the year on the retention percent, means we have covered all bases - including international coordination. (more…)