The Yukos case and the EU
Andrew Gardner asks whether the massive $50 billion award to Yukos shareholders will affect the EU and its relationship with Russia.
An international tribunal in The Hague today (28 July) ordered Russia to pay $50 billion (€37.2bn) to investors who held shares in the now-dismantled oil company Yukos, once Russia’s largest oil company. The award is 20 times higher than any previous award by the court, the Permanent Court of Arbitration, and the wording leaves no doubt that politics and a desire to appropriate Yukos’s assets – not a clampdown on tax evasion – motivated the Russian state’s actions.
It would be rash to assume that the downing of an airliner by Russian-backed rebels will change Europe’s policy to Russia.
- Six things we learnt from the European CouncilTim King and Toby Vogel give their thoughts on the national leaders' inability to come to a decision on the EU's top jobs.
- The pleading begins for a better EUCalls from industry for measures to boost economic growth are short on specifics, says John Wyles.
EU states need to reform their bankruptcy procedures, not just their markets for labour and product, writes the director of the Centre for European Policy Studies.
- The trade delusionSlow progress in trade liberalisation is a lighter brake on growth than debt in the rich world and infrastructure and educational deficiencies in developing economies, writes the former chairman of the UK’s Financial Services Authority.
- What made the Bretton Woods system possible?Bretton Woods demonstrated that it takes a major crisis to produce a political dynamic of reform, write the professor of History at Princeton University and the director of the global economy programme at the Center for International Governance Innovation.
Quote of the Week
We are not yet at the point where we can get a consensual solution on a full package of appointments, so we will continue consultations.Herman Van Rompuy, the president of the European Council, after a summit on 16 July at which EU leaders failed to appoint the EU’s next foreign-policy chief.
The week in numbers
Profile of Italy's foreign minister whose bid to succeed Catherine Ashton as the EU's high representative has caused much controversy.
Even for a politician who has built a career around delivering grace under pressure, the intensity of the campaign against Federica Mogherini mounted over the past few weeks will have been unsettling. The youngest foreign minister in Italy’s republican history has been attacked for her politics (too left-wing), her views on Ukraine (too pro-Russian), her CV (too thin) and even the writing style on her blog (too naïve).
People & Places
Commission appoints a deputy director-general and seven directors at its last meeting before the summer break.
Exploring EU migration, including what the statistics reveal, how member states are reacting to migration and the need for an EU model to manage it.
- Is the EU experiencing a great migration crisis?
Europeans are unhappy with their governments’ migration policy, and many are blaming the EU.
- Is EU migration getting out of control?
- Tough immigration rules threaten economic growth
- Migration: what the polls are saying
- Finding a way to manage migration
- Why citizenship matters when it comes to migration
The figures on asylum and other forms of migration in the EU are dramatic, but are they still manageable?
Growing skill shortages and an ageing working force pose problems for growth within the European Union, while emerging economies will ramp up competition for talent and labour.
Opinion polls provide a snapshot of Europe's anti-immigration mood.
Trends and policies are converging, but no European model of management has yet emerged.
Rainer Bauböck, professor of social and political theory at the European University Institute in Florence, tells Toby Vogel why citizenship is an important factor in immigrant integration and outlines some recent changes to the concept of EU citizenship.
18 September 2014
The Crowne Plaza, Brussels, BE
Connected vehicles hold the promise of increased safety and security, better network efficiency, improved traffic management and reduced environmental impact. Car makers, mobile-network operators, insurers, IT solutions …
With: Pierre MASAI, Stefano FRATTA, Fotis Karamitsos, Klaus SCHIERHACKL, Arndt OHLER, Fabrizio CORTESI, Frans OP DE BEEK
Cyber-security in 2014
23 September 2014
Regulatory compliance, internal controls, crisis management... best practices to protect data and intellectual property
With: WIM BARTSOEN, DAVID CALLEBAUT, UDO HELMBRECHT, MATTHEW JOHNSON, Troels Oerting, JAAN PRIISALU, QUENTYN TAYLOR, Steve Wright, Simon TAYLOR