TUESDAY, 20 AUG 2019

 

CONNECT

Facebook Linked In Twitter
GAP_Group_2019_728x90px
Invest Cyprus 30/04-30/03/2019
IMH LTD

Anastasiades and SG Envoy Lute Agree to Continue Consultations for Cyprus Solution

US Delays Huawei Trade Ban for Another 90 Days

IMH LTD
GAP_Group_2019_468x60px

BUSINESS

brought to you by Deloitte

Former President of the European Council Reflects on Brexit and Looks to a European Future at The Club, Nicosia

Former President of the European Council Reflects on Brexit and Looks to a European Future at The Club, Nicosia

Phoenix Leaders welcomed Herman van Rompuy, Former President of the European Council and Former Prime Minister of Belgium, to The Club in Nicosia. In front of an intimate audience of Members and Guests of The Club, van Rompuy presented his view on the future for a post-Brexit Europe in a period increasingly characterised by growing political instability.

Over the course of the evening, van Rompuy argued that despite a wave of growing Euro-scepticism, support for EU membership has never been greater. “A continuously increasing majority of Europeans think that being a member of the EU is a good thing for their country. In a report of the European Council on Foreign relations, more than half of Europeans think that there is a significant risk of the EU collapsing in this generation. According to the same survey, 92% of voters think they would be worse off if the EU were to burst. Europeans fear the collapse but do not hope for it. Fear is not the same as hope.”

van Rompuy contended that there could be more support for pro-European policies than currently expected. “One of the explanations for the reluctance of national governments and parliaments to follow a pro-European course is the political instability at national level. The fragmentation of the national political landscapes, the volatility of the voters and the extremist drift have made it very difficult to govern in most Member States. It is not surprising that there are at least 15 minority governments in EU-28, within the euro area and beyond. How can Europe be sufficiently strong when too many Member States are weak.”

Van Rompuy also highlighted the role of social media in creating an environment of political instability. “Not only is there fake news and external manipulation, but there is also a trend towards individualisation. People are reached directly by social media without intermediate bodies and filters such as political and social organisations or traditional media. People hear one-sided messages and gradually only those they want to hear. All this reinforces the hardening of points of view and the polarisation. It sometimes leads to a blocked society and a blocked democracy.”

Despite the continued uncertainty created by the situation in Westminster, Mr van Rompuy noted that Brexit had made the EU-27 more united and that together they “are further strengthening the eurozone and the Schengen area. It may be too slow, but nobody wants the way back. We will continue to conclude FTAs all over the world. The EU-27 is also in favour of a rules-based global trading system also without the UK as an EU member state. We are continuing to work towards a single digital and energy market. European industrial policy is certainly in the making in those sectors where we are all lagging behind globally. We know that there can be no climate policy without European enforceable targets and instruments.”

Van Rompuy concluded that “historically, the European Union remains a success story. However, there are no lasting achievements in history. We have to work again and again to ensure that this is the case. We have to do it ourselves. Many want to undermine or destroy the Union and its sovereignty. Once again, we will prevent this from happening. I am sure of that. It is much more than just a vain hope.”

The presentation and Q&A session was followed by an opportunity for Members and guests of The Club to discuss their own views on the future of Europe with van Rompuy individually at a drinks reception at The Club.

 

MORE ON BUSINESS

GOLD Magazine: Good Law & Good Order

Almost 8 years ago (in September 2011), GOLD compiled its first listing of the ...

UK: Cranswick Acquires Katsouris Brothers

Cranswick,  a supplier of fresh and added-value food products, has revealed it has ...

Harneys Cyprus Advises on US$300 Million Sale of Global Depository Receipts

Harneys advised TCS Group Holding PLC (the Company) on all Cypriot law and regulatory ...

FROM AROUND GOLDNEWS

   

Trump Calls for Big Rate Cut and Economic Stimulus

The US central bank should consider cutting interest rates by one percentage point and introduce "some quantitative easing" stimulus measures, ...
   

Amazon Under Fire for New Packaging that Cannot be Recycled

Amazon has been criticised by environmental groups and customers after introducing a range of plastic packaging that cannot be recycled in the UK, The Guardian ...
   

EY: Global IPO Market Shows Continued Signs of Slowdown in Q2 2019

The trend of unicorn IPOs coming to market and pushing their proceeds to historic levels continued in Q2 2019 despite ongoing geopolitical uncertainty and ...
   

Sony to Buy Insomniac Games

PlayStation console maker Sony Interactive Entertainment said on Monday it would buy privately held Insomniac Games Inc, known for developing games such as ...
   

KPMG in Cyprus Supports the Pancyprian Volunteerism Coordinative Council’s Campaign ‘Collecting School Supplies for Children’

Corporate Social Responsibility programme forms an integral part of KPMG’s corporate philosophy around the world, combining economic and business growth ...
   

US Delays Huawei Trade Ban for Another 90 Days

The US Commerce Secretary, Wilbur Ross, has confirmed a ban on Chinese technology giant Huawei will not come into force for another 90 days, the BBC reports. ...
   

Record Number of Tourists for July 2019

July 2019 had the highest volume of tourist arrivals ever recorded in Cyprus during the specific month, with arrivals of tourists reaching 550,971 in July 2019 ...
   

US Considers Activities of Yavuz as Unlawful

The United States considers the activities of Turkish drillship Yavuz off the north-eastern coast of Cyprus as unlawful, and urges the Turkish authorities to ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

Limassol_Economic_19/06-18/10_300x250px
Legal_Forum_06/08-10/09_300x250px

IMH LTD