EU-US Trade Negotiations: Unions oppose US trade deal with EU - by John Moylan

Plans for a major EU-US trade deal have been denounced by trade unions on the last day of their annual conference.

Delegates unanimously backed a motion opposing the Transatlantic Trade and Investment partnership (TTIP) and calling for negotiations to be halted.

Some trade unions and NGOs say that the agreement will threaten the future of the NHS and other public services.

The government insists it could boost the economy and open up the US market to British firms.
In recent months, unions have stepped up their opposition to the plan.

Many have focused on the potential impact on the NHS, where private firms are able to provide services.

They claim that TTIP would allow those firms to sue the government if it chose to return those services to public ownership.

Speaking at the conference, Gail Cartmail, assistant general secretary of the Unite union, called for the NHS to be protected from TTIP.

Read morfe: BBC News - Unions oppose US trade deal with EU

Europe -New EU Commissioners Ready To Roll As France and Britain Secure Top EU Economy Posts

French Socialist Former finance minister Pierre Moscovici takes the key portfolio of economic policy, though he will be supervised by former Finnish prime minister Jyrki Katainen and former Latvian prime minister Valdis Dombrovskis.

British Conservative Jonathan Hill takes a revamped portfolio entitled Financial Stability, Financial Services and Capital Markets Union - something the London government, outside the euro zone, had been pitching hard for. He will be in charge of relations with, among others, the European Banking Authority.

Danish liberal Margrethe Vestager will be in charge of the powerful competition portfolio that gives the EU a big say in the expansion or merger plans of the world’s biggest companies, while former Slovenian prime minister Alenka Bratusek will oversee the EU’s plan to create an energy union.

Sweden’s Cecilia Malmstrom will have the task of negotiating the world’s biggest trade agreement between the United States and Europe. Miguel Arias Caneta of Spain will be energy and climate change commissioner, though former Slovenian former premier Alenka Bratusek will have the more senior post of vice-president overseeing the development of an energy union.

Germany’s Guenther Oettinger will have responsibility for the digital economy, a portfolio including the overhaul of the EU telecoms market. Elzbieta Bienkowska of Poland takes the role of commissioner for the internal market, industry, entrepreneurship and small business.

The new Commission is due to take office on November 1, subject to its confirmation by the European Parliament.

Read more: ReEurope - France and Britain secure top EU economy posts - France 24

Soccer: Key Battles That Will Shape Netherlands' Clash with Czech Republic

Kicking off their Euro 2016 qualification campaign, the Netherlands will face the Czech Republic in Prague on Tuesday.

It won't be the first time the two countries face off: The Netherlands and the Czech Republic have played against each other a total of nine times.

Three games were won by the Dutch, three by the Czechs. The remaining three matches ended in a draw. In other words: From both perspectives, the two nations seem like worthy opponents.

Read more: Key Battles That Will Shape Netherlands' Clash with Czech Republic | Bleacher Report

Italy: Outlook Italian insurance market improves

Fitch Ratings has revised Italy's Outlook to Stable from Negative. At the same time the agency has affirmed Italy's Long-term foreign and local currency Issuer Default Ratings (IDRs) at 'BBB+'. The issue ratings on Italy's senior unsecured foreign and local currency bonds were also affirmed at 'BBB+'. 

The Country Ceiling has been affirmed at 'AA+' and the Short-term foreign currency IDR at 'F2'.

Fitch has also  revised its outlook on the Italian insurance market from negative to stable following stronger-than-expected first-half results from Italian insurers.

The change also reflects Fitch's expectation that Italian insurers' profit and capital adequacy will be resilient despite the country dipping back into recession.

GGGD will peak at 135% of GDP in 2014, marginally higher than Fitch's previous forecast (133% of GDP), due to weaker nominal GDP growth. Fitch expects GGGD to decline slowly and remain above 130% of GDP until 2017, compared with the 'BBB' median of 40%. The high debt leaves very limited fiscal space to respond to any adverse shock.

The new government of Matteo Renzi announced a structural reform agenda with an ambitious timetable and confirmed in the 2014 Stability Programme the previous governments' commitment to the eurozone fiscal framework, in particular, keeping deficit below 3% of GDP in 2014 and maintaining the medium-term fiscal consolidation path.

Almere-Digest

Insurance Industry: SURE Autumn editiom highlights Insurance developments around the world

A new edition of Koster verzekeringen b.v. international internet publication SURE, with highlights from and around the global insurance world, is available on-line.    

 KOSTER verzekeringen b.v. is an independent Dutch insurance company in Alphen aan den Rijn, established in 1985 and presently employing some 40 highly specialized employees

What makes KOSTER Verzekeringen b.v. particularly interesting is their corporate philosophy. Chairman of the Board Wim Koster says about this philosophy: "we don't just sell insurance policies but instead we helps our customers during the buying process".

For a free subscription to SURE  - contact info@koster.nl

Almere-Digest

EU-US Trade Negotiations: Germany to take control of EU/US trade deal, leak suggests- by Geoffrey Smith

U.S. tech companies hoping for unfettered access to the E.U.’s market under a major new trade deal got the bureaucratic equivalent of the ice bucket challenge Thursday.

A draft document obtained by the website Euractiv sketching out how the top jobs in the new European Commission will be handed out suggested that Germany’s Guenter Oettinger will take responsibility for the E.U. side of the negotiations for the next five years.

Oettinger is a long-time political ally of Chancellor Angela Merkel, and analysts say his appointment would ensure Europe will take a tough line on the new ‘Transatlantic Trade and Investment Partnership’.

TTIP, hailed by its advocates as a “once-in-a-lifetime opportunity” to break down remaining trade barriers between the U.S. and E.U., has run into a storm of protest in Germany–traditionally one of the biggest advocates of free trade–over concerns that it will allow big companies too many rights to sue governments.

In addition, the ongoing tensions over U.S. spying on its biggest European ally has made German public opinion wary of giving free rein to the–mostly U.S.-based–companies that dominate the internet and the world of big data.

“Merkel is concerned that the political environment around TTIP has become completely toxic,” says Pavel Swidlicki, an analyst with the think-tank Open Europe in London. “This is a smart move.”

Note EU-Digest: the EU interests are in good hands with Mrs Merkel and Germany.

Read more: Germany to take control of EU/US trade deal, leak suggests

The Netherlands: Banking Industry - ING Bank reported a sharp rise in second-quarter net profit

NG NV reported a sharp rise in second-quarter net profit, boosted by one-time gains and lower provisions for bad loans, as the Dutch bank edges closer to fully rid itself from Dutch government support.

The Netherlands' largest bank by assets on March 3 said net profit for the quarter came in at €1.07 billion ($1.43 billion), compared with €895 million in the same period last year as profit at its insurance business more than quadrupled to €245 million despite lower operational results. 
 
The insurance business benefited from revaluations on a private equity portfolio and a €79 million gain on a closed book of Japanese variable annuities.

Net profit at its banking business dropped by 1.6% to €806 million, despite a 34% drop in loan loss provisions to €405 million, which was offset by higher taxes, a payment for its contribution to the nationalization of Dutch peer SNS Reaal in 2013 and restructuring costs at its Dutch Retail bank.

EU-Digest