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Brussels talk this week was dominated by the tales of two negotiations. The Ukraine talks and the Greek debt renegotiation are all that has mattered for the Eurochattering classes.
Meanwhile MEPs were in Strasbourg with a very light agenda, and a quiet year ahead is foreseen for our elected officials. The Commission is dramatically reducing its legislative output and enhanced security measures in Parliament is restricting access for visitors and stakeholders. What will MEP’s do?
The Breakfast Club
Newly installed Greek Finance Minister Yanis Varoufakis began the week on a whistle-stop tour of Europe, trying to build support for Syriza’s debt renegotiation plans.
He raised eyebrows with a laissez-faire attitude to formal dress somewhat lacking in his economic thinking. The London leg of the trip allowed Varoufakis to rekindle his odd couple relationship with Norman Lamont, the Tory Peer and former Chancellor. Unfortunately for the pair, reported the FT, London’s Reform Club didn’t approve of his dress down attire and refused entry for breakfast. No worries though, they went down the street to the five-star Sofitel Hotel instead (an end to austerity indeed!).
One hopes the Greeks didn’t take heed of Lord Lamont’s negotiating strategy on the Maastricht Treaty as they headed to the summit of European leaders, where debt talks have so far ended in stalemate. In a telling remark, Angela Merkel arriving at the European Summit on Thursday said “Europe -- and this is Europe’s success -- is always about finding a compromise”. Some would wonder how that strategy is working out. We shall see who blinks first in the coming days.
Putin & Staring Contests
A staring contest seems like exactly the sort of competition in which Vladimir Putin would excel, but it was he who seemed to back down on Thursday as a ceasefire in Ukraine was announced. The breakthrough came after a marathon 16-hour session at the Summit in Belarus. Chocolate king and Ukrainian President (which one of those titles would you rather have at this point) Petro Poroshenko insisted that should Russia go back on its word this time, even tougher sanctions must follow.
With the Ruble dropping through the floor and the Russian economy looking weak, have we reached the endgame for Putin’s aggression? A nameless Eurocrat said: “The next 48 hours will be crucial.” Indeed.
Brits Abroad
There’s been a certain amount of soul searching amongst the once proud British Foreign Office this week as they see Merkel and Hollande doing the heavy lifting in Ukraine negotiations and budget cuts of up to 40% coming at home. An editorial in The Times on Monday asked what role is there for Britain on the world stage and the Foreign Office reportedly prepared for talks on Iran, only to have the Ukraine negotiations bump Iran off the EU leaders meeting agenda.
One wonders how much progress Phillip Hammond will make talking about European reform when the EU leaders clearly have bigger fish to discard having exceeded their quotas. That said, with UKIP on the rise and an in/out referendum on the cards, you would think Merkel and Hollande might be kind enough to give Cameron the odd win.