In only three weeks, the Juncker commission will unveil one of its most totemic policy packages: the so-called “energy union”.
But behind the hype, key parts of the plan still seem to lack any real bite, according to documents seen by the Brussels Blog.
Overall, a single energy market makes a lot of sense as the EU is currently often a messy patchwork of 28 counter-productive energy islands. If the member states integrated their gas and electricity networks more deeply, the continent could cut costs, slash emissions and reduce dependency on Russia. Who could object to that? Well, as ever, the mood among member states is hardly harmonious.
Speaking to reporters on Wednesday, Maros Sefcovic, the EU’s vice-president charged with launching the energy union on February 25, said that the single market would comprise “hardware” and “software”.
Relatively speaking, hardware is the easy bit. Build gas pipelines and electrical cables across borders and that will improve security of supply and help prices converge.
The big hurdle is the software. Fundamentally, energy has massively different costs in various countries because of divergent tax and regulatory systems. You cannot have a free-flowing single market until you harmonise these. Poles, Czechs and Hungarians pay less than half of German and Danish rates for power. In Denmark, 57 per cent of the final electricity price is based on levies, whereas in Britain the figure is closer to 5 per cent.
So will the member states converge fully? They don’t seem to want to. Sefcovic admitted on Wednesday that taxation was a significant problem and that he had hit a wall with member states: “Most of us in this room would agree that it would be the best way forward but we have to be very realistic that unanimity on an issue like energy taxation would be very difficult to achieve.” Oh dear. That’s a pretty big hole in the energy union plan.
Read moreLorsque l’on souscrit à un crédit quelque en soit la forme, il est important de connaître les différents taux qui existent sur le marché.
Le taux nominal ou facialLe taux nominal est un taux de crédit présenté sous la forme d’un pourcentage annuel et qui figure également sur les prospectus publicitaires ou le contrat établit par votre établissement bancaire.
Ce taux sert de calcul aux intérêts que vous devez. ce taux peut être fixe signifiant alors qu’il sera toujours le même jusqu’à la fin de votre contrat ou variable signifiant alors qu’il pourra évoluer pendant la période de souscription de votre crédit en fonction de l’indice de référence dont vous aurez préalablement pris connaissance avant la signature du contrat.
Le taux effectif global (TEG)Le taux effectif global ou TEG permet de représenter réellement ce que va vous coûter le crédit concrètement et faciliter ainsi la compréhension pour le souscripteur. Il est toujours stipulé dans le contrat de crédit et couvre tous les frais liés au crédit souscrit.
Le taux actuarielCe taux va permettre au souscripteur de calculer le rendement réel de son placement s’il y en a un. Ce taux est calculé en fonction des intérêts et en tenant compte de divers éléments :
Ce taux périodique correspond au taux qui est appliqué au capital qu’il reste à rembourser lorsque les intérêts sont recalculés à une certaine échéance. Ce taux va dépendre alors de la périodicité du remboursement : mensuelle, trimestrielle ou annuelle.
Le taux d’usureLe taux d’usure est un indice qui est établit par l’État en question et qui est d’ailleurs publié tous les trimestres dans le journal officiel. Ce taux symbolise la limite maximale qui est autorisée pour un taux de crédit de n’importe quelle sorte.
Il faut savoir que plus le crédit est long sur la durée, plus le risque est grand pour l’établissement bancaire qui vous prête l’argent. Par conséquent, le taux d’intérêts sera forcément plus élevé également afin qu’il puisse se couvrir en cas de problème.
“The question we ask in this annual publication is not how Europe is dealing with disorder but how others are coping with growing instability”.
In this video, FRIDE Director Giovanni Grevi explains the main findings of this year’s annual publication on European foreign policy challenges. Grevi talks about the disorder management strategies of nine different countries facing instability – ranging from major powers with the ability or aspiration for global influence (i.e. China, the United States) to others with a regional focus (i.e. Iran, Turkey) – and the implications of those strategies for Europe. In addition, Grevi gives some key recommendations for the EU on how to make a relevant contribution to security, for itself, its partners, and the region.
Cast your mind back to November.
Jean-Claude Juncker, the new European Commission president, was being pummeled by the European Parliament after a leak revealed widespread tax avoidance in Luxembourg while he was prime minister of the Grand Duchy.
Like Captain Renault in Casablanca, MEPs queued up during a failed vote of no confidence to declare themselves “shocked, shocked” that tax avoidance was going on in Luxembourg.
In a bid to quell the criticism, Mr Juncker said that a lack of tax harmonization within the EU was to blame. To combat this, the commission president said he would introduce legislation to force the automatic exchange of tax-rulings that affect companies based in other member states.
But, according to this leaked document from 2012, both the commission and member states have long been aware of the problem of cross-border tax-rulings – and had already looked into ensuring the automatic exchange of tax information.
The Code of Conduct Group, which looks at business taxation with the commission, came out with guidance in 2012 to encourage member states to “spontaneously exchange the relevant information” on cross border tax rulings. They then asked member states how feasible this was.
Read moreIs the Russian Navy about to collapse? In a recent article on War is Boring, David Axe made this argument largely based on data from my recent articles on the Russian shipbuilding program and the Russian Navy’s priorities. While the information I provided is sound, Axe’s overall interpretation is not.
The Russian Navy is investing in a time-phased recapitalization of its navy over the next 20 years. Submarines are the first phase, already well under way, followed by smaller surface combatants, then increased amphibious capabilities. The navy is letting recapitalization of cruisers and destroyers slip into the next decade. As such, the availability of large combat ships will decrease in the near term but begin to increase in the medium to long term.
The Russian Navy has historically had four main missions: 1) strategic deterrence, 2) coastal defense, 3) protection of sea lanes of communication, and 4) out-of-area deployment.
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