The European Central Bank possibly is the most politically independent central bank of our times. But a new era of populism and the related pressures on central banks in the US and Great Britain should catch the attention of European policymakers concerning the relationship with their central bank.
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In 2014, when Russia annexed Crimea and involved itself in the secessionist wars of Donetsk and Luhansk, the consequent international sanctions from the European Union and America signaled an end to Russia’s positive diplomatic relations with the west. Now, almost three years later, these sanctions have failed to act as a deterrent for Putin to yield Russia’s control over the southern and eastern regions of Ukraine.
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After the election of Trump, the High Representative Federica Mogherini stressed the following in a CNN interview: “friendship stays, partnership stays, but EU politics is not determined by US politics”. The emerging unpredictability surrounding the United States (USA) opened up the possibility for the European Union (EU) to play a role as super power.
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2016 gave us an American president-elect despite never having served in elected office. It also marked an historic turning point in the European project when a key member voted to leave. These events, in the minds of many, cemented the phenomenon of the ‘post-truth’ paradigm where slapdash opinions have garnered widespread favour atop ‘facts’. The architects of previous sacrosanct-held facts, the sciences, and especially the economics profession, require a makeover.
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By committing itself to making trees and green infrastructure a part of its scenery, Paris can bring colours back to a grey city.
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According to the speeches on the inauguration day of the newly re-shaped Frontex agency, it seems that the European Union has found the best antidote to the migration challenge so far: the novelty has been labelled a “milestone” in the history of border politics and solidarity between Member States. But Frontex’ new aims focus foremost on control and monitoring, whilst little is said about the asylum system and the refugees’ rights.
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