Don't be misled by headlines that Deutsche Bank will cut 18,000 jobs, as the German bank should have done that already ten years ago. Much more drastic measures should be taken today, Beat Wittmann writes on finews.first.
This article is published on finews.first, a forum for authors specialized in economic and financial topics.
«Rien ne va plus, les jeux sont faits,» the EU leaders have nominated the Presidents for the EU Commission (Ursula von der Leyen), Council (Charles Michel) and Parliament (David-Maria Sassoli) and the EU’s foreign policy chief (Josep Borrell) and of course the next President of the ECB (Christine Lagarde).
And as the two key posts of the EU Commission and the ECB Presidency are going to a German and French national the French/German power couple is back in the driver seat of European affairs, whereas euro skeptical forces have been weakened.
«Very important to note that not one single of them is a nationalist or populist»
The leadership selection has been a typically complex «horse-trading» process but this time around in a rather speedy manner. And it can already be said that the chosen leaders have quite a few characteristics in common, as all of them are widely known personalities, experienced and battle-hardened politicians, committed Europeans with a global and multilateral perspective and respectful of institutions, processes and checks, and balances and very important to note that not one single of them is a nationalist or populist.
If it would not be that serious it would be simply ridiculous to listen to and read from self-appointed judges claiming the moral high ground to execute the majority «will of the people» and ever complaining about a democratic deficit in Brussels.
«In the early democracy in Athens, only about 20 percent of the people could vote»
The first question to answer is who are «the people», which is already a multi-dimensional issue and difficult to answer. In the early democracy in Athens, only about 20 percent of the people could vote, basically men who completed military service.
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