Discussing the Future of Transatlantic Dialogue on Data Privacy with Dr. Günter Krings
American Institute for Contemporary German Studies’ President Dr. Jackson Janes met with Dr. Günter Krings, Parliamentary State Secretary at the German Federal Ministry of the Interior, to talk about improving future transatlantic dialogue on data privacy issues. Referring to the recent NSA affairs, Krings stresses the necessity of an active US engagement to appease their German counterparts. The two agree that there is a need for a transatlantic intelligence cooperation for security reasons, currently exemplified by the crisis in Iraq. However, Krings suggests improvement of the transatlantic intelligence alliance on three points: enhancing dialogue between the partners, increased transparency of conduct, and a cost-benefit analysis of prospective activities of the intelligence community, particularly against our allies. (American Institute for Contemporary German Studies)
News
EU Looks to Italy’s Foreign Minister as Foreign Policy Chief
Despite her lack of experience, and some open opposition by Lithuania and Poland, it seems likely that Federica Mogherini, Italy’s incumbent Foreign Minister, will be selected to succeed Lady Ashton as the European Union’s foreign policy chief, at a summit this Saturday. Italy’s Prime Minister Mario Renzi and his French counterpart Francois Hollande are among nine center-left heads of government who support her selection. (Financial Times)
Hollande Replaces Firebrand Economy Minister with Former Banker
After removing Arnaud Montebourg from his office for his public criticism of the government’s economic policy, President Hollande appointed former banker Emmanuel Macron, who served as the top economic advisor to President Hollande until July, as the new economy and industry minister. Macron, who favors market reforms and already played a big role in coordinating the French response to the Eurozone crisis, is expected to help Hollande realize the structural reforms that his European counterparts have long been pressing for. (Financial Times)
House Ex-Im Opponents Threaten Subpoena in Bid to Bolster Oversight
In an apparent bid to bolster their oversight over the Ex-Im bank, Congressmen Hensarling and McHenry, the chairs of the House Financial Services Committee and its Oversight and Investigations Subcommittee, have requested unedited bank records as well as interviews with three of the bank’s senior officials. The Ex-Im bank has been reluctant to deliver the requested documents and dismissed the possibility of an interview. If the bank continues to refuse to adequately respond to the requests, Hensarling and McHenry have threatened to work with the Committee on Oversight and Government Reform to receive the uncensored documents by subpoena, further complicating the bank’s bid for reauthorization. (World Trade Online)
US Rebound Stronger than First Thought
Despite a weak first quarter, the US economy’s second quarter fared even better than previously predicted, raising the official annualized growth estimate from 4.0 to 4.2 percent. The development indicates a robust growth and continuous recovery of the US economy, sparking hopeful predictions of three percent (or higher) growth for next year. (Financial Times)
Recent Analysis
Chart: Sharp Decline in Intra-EU Trade over the past 4 Years
The chart by Bruegel, an economic think tank based in Brussels, provides a comprehensive overview over intra-EU and intra-Eurozone shares of export on total export of the two groups respectively, finding that intra-EU trade has declined sharply over the past several years. Europeans are increasingly relying on their links with trading partners outside of Europe. (Bruegel)
Women Commissioners: Juncker Struggles to Reach Eight
The article featured in European Voice addresses the complicated issues that Jean Claude Juncker, the next European Commission President, is facing when it comes to finding qualified women for the Commission. His current line-up is likely to be declined by the European Parliament if Juncker does not manage to overcome the lack of gender balance and the East-West imbalance of his proposed line-up of Commissioners. The author is convinced that balancing the gender gap will depend greatly on the choice of the highly sought-after post of foreign policy chief. (European Voice)
The German Locomotive has Become Europe’s Liability
In his opinion piece, Marcel Fritscher refutes the perception that Germany’s decline in output can be blamed on transient factors such as the Ukraine crisis or a mild winter. Instead, he is convinced that Germany’s slowing economy can be traced directly back to both domestic and European structural weaknesses. In that light, the most urgent task for Germany and the European Union is to generate more investment and jointly address their structural weaknesses. Instead of denying the real nature of their problems, Germany should realize that it cannot succeed without its European partners and embrace its position of strength in Europe to lead the way in reforms targeting investment and growth. (Financial Times)
Upcoming Events
Seventh Round of TTIP Negotiations – September 29 – October 3 in Washington DC – a political stock-taking between Ambassador Froman and Commissioner De Gucht will follow the talks on October 13.
EU Policy Agenda for Social Enterprise: What Next? – September 3 in Brussels; hosted by the European Economic and Social Committee – More Information
The EU-US Transatlantic Trade and Investment Partnership-TTIP – September 8 in Copenhagen, Denmark; hosted by the British Chamber of Commerce In Denmark – More Information
Resolving Cross-Border Internet Policy Conflicts – September 9 in Washington DC; hosted by the Information Technology and Innovation Foundation – More Information
Discover Global Markets: Free Trade Agreement Countries – September 9 -10 in Detroit, MI, hosted by the US Commercial Service – More Information
Jobs and Economic Growth for Atlanta: How TTIP Will Help – September 10 in Atlanta, GA; hosted by the Trans-Atlantic Business Council – More Information
TTIP Road Show, Edinburgh, Scotland: The US-EU Trade Negotiations and the Coalition for Transatlantic Business – September 23 in Edinburgh, Scotland; hosted by British American Business – More Information
Breakfast Briefing on the European Banking Union – September 23 in New York, NY; hosted by the European-American Chamber of Commerce – More Information
Jobs and Economic Growth for Indianapolis: How TTIP Will Help – September 26 in Indianapolis, IN; hosted by the Trans-Atlantic Business Council – More Information
Launch of new Atlantic Council Publication on TTIP’s Benefits for Small and Medium-sized Enterprises – October 9 – More information forthcoming