Finnegan's Take

Archives for Euro

When European governments’ credit ratings were downgraded it became more expensive to raise money for health development projects For the past six years, the GAVI Alliance has been raising money on financial markets through the International Finance Facility for Immunisation (IFFIm). This is achieved by selling ‘Vaccine Bonds’ to investors which gives GAVI cash to… » read more

Posted by Gary Finnegan

Chronic drug shortages in Greece have left thousands of patients without medicines and paralysed the drug supply chain. The impact of the ongoing financial crisis in Europe is having a deep impact on patients – and that’s before the possible return of the Drachma which could at least double the relative cost of imported medicines.… » read more

Posted by Gary Finnegan

Tapping a developing country for cash is a lot to ask so we need not be surprised that China wants something in return So it looks like Europe is asking China to contribute more than €100, 000,000,000 to boost its bailout fund and help save Europe’s single currency. The French President has been delegated the… » read more

Posted by Gary Finnegan

While closer fiscal union can help solve today’s crisis, the public backlash will cause some Member States to pull away over the next decade. Still, it’s better to separate the currency crisis from the political crisis as simultaneous catastrophes would be unbearable. The future remains uncertain but key elements of a plan to end the… » read more

Posted by Gary Finnegan

Let’s predict the headlines for the next EU summit: – Day before the summit: EU leaders divided ahead of crunch summit This one comes with stories of how impossible it will be to come to any agreement and how Obama has been on the phone screaming at Sarkozy to recapitalise French banks – Night of… » read more

Posted by Gary Finnegan

With Greece on the brink, Brussels is dangerously distracted by efforts to invent new European rules and institutions which will help prevent future sovereign debt crises. After protracted negotiations, MEPs and the European Council – which represents EU Member States – came to an agreement on the so-called “Six Pack” economic governance package. The deal… » read more

Posted by Gary Finnegan

Always say never

Over the past 18 months, observers have noted the alarming frequency with which things that were once ruled out of hand by EU leaders have become the norm. It began with the mantra-esque refrain of “We won’t bail out Greece”, which ultimately morphed into a commitment to back Athens to whatever extent becomes necessary. This… » read more

Posted by Gary Finnegan

Too many Europes

At a time when Europe is in crisis, it’s alarming to see so many conflicting statements from its leaders EU Compeittion Commission Joaquin Almunia said today that Ireland’s bank guarantee, introduced in September 2008, was a mistake. I think you’d struggle to find an Irish person who hadn’t come to the conclusion two years ago,… » read more

Posted by Gary Finnegan