6 February 2018 - Italy news for this week
Max Ruggiero • Tuesday, 06 February 2018 14:01
6 February 2018 - World news for this week
Max Ruggiero • Tuesday, 06 February 2018 12:49
22 January 2018 - World news for this week
Max Ruggiero • Monday, 22 January 2018 10:11
22 January 2018 - World news for this week
Max Ruggiero • Monday, 22 January 2018 09:24
15 January 2018 - Italy news for this week
Max Ruggiero • Monday, 15 January 2018 11:25
8 January 2018 - Italy news for this week
Max Ruggiero • Monday, 08 January 2018 07:17
If at one point it was considered possible that the UK snap election would send a clear signal about London’s relation with EU, it was short-lived. Yesterday’s UK election was not an election about Europe, it was rather a very European election.
Giuseppe Scognamiglio • Saturday, 10 June 2017 10:33
This week Saudi Arabia, the United Arab Emirates, Egypt and Bahrein closed all diplomatic relations with Qatar. Within a few hours, these four countries were joined by Yemen and the Maldives. This is not just an interruption of diplomatic relations, as took place in 2014, but an actual geographic isolation of Qatar, that calls for the expulsion of all its citizens currently located in the participating countries, a stop to all air and sea traffic and the closure of all borders. According to the official motivation, the closing of relations is due to "support for terrorist activities" provided by Qatar to terrorists in the region. The accusation of "supporting terrorists" in actual fact means that the countries of the Gulf coalition want to bring Qatar back in line with Saudi politics, straining the power relations in the region.
GIUSEPPE SCOGNAMIGLIO • Wednesday, 07 June 2017 11:44
Donald Trump won the US presidential election in a stunning victory, that sent shockwaves around the world. The New Yoork tycoon , who has defeated the expert prognosticators for almost 18 months, did it one more time, and on the day that counted the most.
GIUSEPPE SCOGNAMIGLIO • Wednesday, 09 November 2016 11:48
How we defeated the terrorism of the Red Brigades in Italy. Italian Antimafia is a success story, so much so that nowadays the Antimafia prosecutor’s office is also responsible for anti-terrorism. Is there complicity between our countries and Islamic terrorism?
GIUSEPPE SCOGNAMIGLIO • Wednesday, 27 July 2016 11:31
A) A lot has been said on the international press on Turkey and while the majority of researchers' analyses are correct, we can’t help noticing a substantial one-sided coverage of the coup by western media. While it’s true that the government reaction to the coup has been impressive, western media seem to be focused only on one side of the story while overlooking other aspects. For instance while Erdogan's call to reinstate the death penalty or suspend the European Convention on Human Rights may be concerning at first sight, then it is clear its connection with the state of emergency, which is nothing new to countries that face internal threats of this magnitude. The US has done similar things in the past and not for a coup d’état; more recently, France has established the same limitation of rights as a consequence of terrorism and for a longer time.
GIUSEPPE SCOGNAMIGLIO • Friday, 22 July 2016 15:45
- The '80s like attempt is failed exactly because we are not any longer in the '80s: the army is not the same, the Heads are appointed by the Government, the soldiers are not any more the ignorant young that obeyed blindly to their chiefs. In fact they refused to shoot against the people;
Giuseppe Scognamiglio • Saturday, 16 July 2016 13:46
The UK has voted to leave the European Union, with the Leave campaign securing around 51.9% of the vote vs 48.1% for the Remain. David Cameron has resigned as Prime Minister in an emotional speech outside 10 Downing Street. While England voted overwhelmingly for Brexit, Scotland and Northern Ireland backed Remain. The pound crashed to the lowest level since 1985 as sterling fell below $1.35. I think the risk of political contagion is high, but the EU will not disintegrate. There is a chance that the British departure will be an opportunity to push the EU into further integration.
Giuseppe Scognamiglio • Friday, 24 June 2016 08:38
TRANSATLANTIC TRADE AND INVESTMENT PARTNERSHIPBy Giuseppe ScognamiglioThe United States and the European Union share a large, dynamic, and mutually beneficial trade and economic relationship. The two sides account for 50% of world GDP, 25% of worldwide exports, 31% of worldwide imports, 57% of foreign investments stocks. The economic relationship with the EU is the largest in the world, generating goods and services trade flows of about €1,5 billion a day. In 2013 the total trade reached € 484 billions (EU imports: €195 billions; EU exports €288 billions). Many observers nevertheless assert that the relationship has not reached its full potential due to a range of regulatory, technical, and other barriers. US and EU negotiators have sought to address some of these issues through various forums over the years but concerns about the slow economic growth, since the start of the financial crises in 2008, have prompted calls by public and private stakeholders for a renewed, intensive focus on eliminating and reducing tariff and non-tariff barriers to US-EU trade and investment. No single EU country would be able to negotiate a deal with the US on the same terms as the EU as a bloc can.The elimination/reduction of (already low) tariffs and (but there is still no agreement on this) non tariff barriers. It could add as much as $120 billion to the european economy by driving Foreign Direct Investment and creating new market opportunities for SMEs and Mid-Market firms on both sides of the Atlantic.Negotiations cover: 1) market access, comprising elimination of tariffs for goods and new access to services and public procurement; 2) regulatory convergence and NTBs (non tariff barriers); and 3) rules for global trade. March 2014 talks reportedly saw progress on all three but obstacles to a deal are still present.Tariffs are considered the easiest issue to tackle, as they are low (3-4%), although higher in some sensitive sectors (dairy products, sugar, meat,tobacco, textiles).Services, by addressing long-standing barriers, while recognising the sensitive nature of some sectors. Disagreement on financial services is visible: the EU aims to include financial regulatory cooperation in TTIP, besides market access, but the US is concerned this might affect restrictions in the Dodd-Frank law and prefers separate discussions.Regulatory NTBs to trade (e.g. divergent standards, sanitary requirements) are seen as the core of the deal, yielding most benefits, but among the most difficult issues to address. The negotiators are discussing how to ensure compatibility of existing and future regulations, so as to reduce unnecessary costs and red-tape, while "achieving the levels of health, safety, and environmental protection each side deems appropriate." In particular, five aspects are highlighted: sanitary and phytosanitary; technical barriers to trade (technical regulations, conformity assessment and standards); specific sectors of goods and services; cross-cutting discpilines and transparency; and a framework for future regulatory cooperation. However, observers already conclude there is deadlock on regulatory issues. The US stresses the horizontal and transparency issues, while the EU prioritises the sector-specific pillar.In September 2013, the European Commission published a paper explaining the overall economic impacts that would emerge from TTIP. An ambitious TTIP deal would increase the size of the EU economy around €120 billion (or 0.5% of GDP) and the US by €95 billion (or 0.4% of GDP).According to the study, EU exports would increase in almost all sectors as a result of TTIP, but the boost in total EU exports outside the Single Market would be particularly significant in metal products (+12%), processed foods (+9%), chemicals (+9%), other manufacturing good (+6%), other transport equipment (+ 6%), and especially motor vehicles (+41%).Consumers will also benefit from cheaper products. The study estimates that in total, the average European household will see its disposable income increase by around €500 per year, as a result of the combined effect of wage increases and price reductions.The European Commission published also a paper illustrating the benefits that would emerge for SMEs through TTIP. This paper explains that SMEs are disproportionately affected by trade barriers: since they have fewer human and financial resources to overcome those than larger firms, the costs for SMEs to export or invest outside the EU often outweigh the gains.Moreover:1. Larger market implies higher competition (higher standards).2. To the extent that trade is intra industry, there is an important dynamic effect from an increase in labour productivity.Long term consequences on Foreign Direct Investments (FDIs):3. attraction of new flows, also from countries outside agreement.4. Increase in home exports implies an increase in outsourcing (offshoring); Home firms can outsource low value added parts of Global Value Chains (GVCs); foreign firms increase their role as suppliers5. Intracompany trade becomes more important.In conclusion: the EU will continue to push for financial services to be part of the TTIP, but now it seems very difficult that the EU will succeed. However TTIP's gains are several and their impacts could go beyond the numbers (productivity, labour market, less regulatory arbitrage, enhanced transparency and others). Benefits will differ by country (States), sector, workers.Latest update: On 18 July 2014, EU and US officials ended the sixth round of TTIP negotiations in Brussels. The following points were discussed:- Classic market access issues: This encompasses the areas of tariffs, services and public procurement. For the EU, procurement is one of the most fundamental elements of these negotiations and both sides set as objective to substantially improve access to government procurement opportunities at all levels of government on the basis of national treatment.- Regulatory agenda: This is considered to be the most economically significant part of TTIP. For those issues that cut across sectors, officials have continued to discuss how to ensure close regulatory cooperation between their respective regulators on different areas of regulations including standards and conformity assessment and on everything that has to do with sanitary and phytosanitary matters. Officials are discussing nine sectors, amongst which pharmaceuticals, cars, chemicals and engineering.- Engaging with stakeholders: Chief negotiators engaged intensively with over 400 representatives of civil society, trade unions, public health and businesses. Presentations were made by representatives from SMEs such as the UK Federation of Small Businesses, Chamber of Commerce of Rhône-Alpes or the Association of German Chambers of Commerce and Industry. These presentations illustrated how TTIP could bring concrete benefits to SMEs, not only through the specific SME chapter, but also how other chapters of TTIP could be of relevance.On 18 September: Meeting of the Transatlantic Trade & Investment Partnership Advisory Group. The discussion focused on the sanitary and phyto-sanitary standards and the regulatory coherence between the two regions.In 2013 Italy reported an export share destined to the US of only 7% of total Italian exports and a trade balance's surplus with US of more than 15 billion Euro (Italian exports: € 27 billion; Italian imports: € 11 billion). US represents the third market for Italy exports after Germany and France.The sector suffering from the higher trade tariffs in US is the fashion industry: with 9% of goods value compared to an average of 2,7% for all goods exported. Non tariff barriers are even higher, with an average of 25% of goods value. In the NTBs, beside fashion system the other industries mainly hit are machinery and agrifood.In the optimistic scenario of elimination of all tariff and non tariff barriers, three years after the trade liberalization there will be an increase of 0,5% of GDP and 1,6% of exports with an increase of employment of about 30.000 workers (+0,2%). In the case of a cautious scenario with the mere elimination of the tariff barriers the impact on the Italian economy is still positive but smaller, again three years after the trade liberalization: +0,2% GDP, +0,9% exports, employment +0,1%.
Giuseppe Scognamiglio • Thursday, 25 September 2014 12:34
A seguito della pubblicazione in Gazzetta Ufficiale n. 221 del 20 settembre 2013 del decreto del ministro dell'Economia e delle Finanze del 16 settembre 2013, che modifica il decreto attuativo dello scorso 21 febbraio 2013, si definisce il quadro normativo relativo alla Tobin Tax italiana.
Giuseppe Scognamiglio • Monday, 22 September 2014 17:27
The outcome of 2014 European elections is a call for change. New policies are necessary, a new strategy needs to be adopted.
Giuseppe Scognamiglio • Wednesday, 02 July 2014 11:47
The rise of global cities. Nonetheless, there is another important phenomenon which is more and more thoroughly questioning the supremacy of the post-world war II international order and challenging nowadays' geopolitical and economic balance.
Giuseppe Scognamiglio • Tuesday, 17 June 2014 12:16