In his annual State of the Union address to the European Parliament, European Commission President José Manuel Barroso today made a strong case for new direction and a new thinking for Europe. He sketched out the way towards more European unity to overcome the crisis and maintain sovereignty in a globalized world. Noting that the questions of the future cannot be answered with the tools of the past, he stressed that "in an interconnected world, Europe's Member States on their...

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Below is a transcript of a report on the outcome of today’s meeting of the Governing Council, which was attended by the President of the Eurogroup, Prime Minister Juncker, and by the Commission Vice-President, Mr Rehn. Based on our regular economic and monetary analyses, the ECB decided to keep the key ECB interest rates unchanged. Owing to high energy prices and increases in indirect taxes in some euro area countries, inflation rates are expected to remain above 2% throughout 2012,...

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The German-American Friendship Month offers a wide variety of lectures, wine tasting, Kasperltheater (puppet theater), exhibitions- and, of course, don't forget the German beer and food! Get together at the annual Steuben Parade and Central Park Oktoberfest on September 15. For detailed information on the events, please visit: www.GermanParadeNYC.org/store 2012 German-American Friendship Month Events: STEUBEN: THE NEW YORK YEARS Thursday, September 6 at 7 p.m. Fraunces Tavern, 54 Pearl Street, NYC Erick-Kurz-Memorial-Lecture, sponsored by the Steuben Society of America. Much is known about Baron...

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WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today the launch of a pilot program specifically designed for large arbitration cases involving claims of $10 million or more. The program enables parties to customize the administrative process to better suit special needs of a larger case and allows them to bypass certain FINRA arbitration rules. Participation in the pilot program, which began today, is voluntary and open to all cases; but in order to be eligible, all parties...

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Speaking at the Alpbach Economic Symposium in Austria today, European Commission President José Manuel Barroso emphasized further integration and strengthening of the European Union as the key to overcoming the euro crisis. He announced that on September 12th, the European Commission will outline proposals for a European banking union. "This is the next concrete and immediate deliverable of our vision to generate confidence in the future of the Euro area," explained President Barroso. "This is action now - even if...

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Dr Andreas Dombret, Member of the Executive Board of the Deutsche Bundesbank provided us with his presentation on "2012-08-16-Salzburg-Global-Seminar" that he presented at Salzburg Global Seminar "Financial Regulation: Bridging Global Differences" in Salzburg on Thursday, 16 August 2012.

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Olli Rehn, Vice President of the European Commission and Commissioner for Economic and Monetary Affairs and the Euro, made a stop-over at the German House to brief representatives of New York's U.N., diplomatic and consular community on latest developments with regard to Europe's common currency. His conclusion: markets have to understand there are no quick fixes, but with the current correction of macroeconomic imbalances well on track, a genuine "Economic and Monetary Union 2.0" will pave Europe's way into the...

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In today's Wall Street Journal, European Commission Vice President and Commissioner for Economic and Monetary Affairs Olli Rehn writes that the euro zone is at a decisive juncture as "Europe is undergoing a correction of the macroeconomic imbalances that built up before the financial shock of 2008." Noting that "over the last two years, Europe has made remarkable progress in addressing these imbalances," he points out that Europe's financial firewalls have been significantly strengthened and that "Europe is committed to...

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The Whitehouse: July Energy Review: Advanced Fuels Move U.S. Ahead The Military Sealift Command fleet replenishment oiler USNS Henry J. Kaiser (T-AO 187), left, delivers a 50-50 blend of advanced biofuels and traditional petroleum-based fuel to the guided-missile cruiser USS Princeton (CG 59) during the Great Green Fleet demonstration portion of Rim of the Pacific (RIMPAC) 2012 exercise. Earlier this month, during the Rim of the Pacific Exercise (RIMPAC) – the largest maritime exercise in the world – the U.S. Navy...

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According to the latest Eurobarometer survey, Europeans broadly support the initiatives for growth, stability and jobs put forward by the European Union. As member states implement reforms, it is encouraging that citizens approve of the level of ambition under the EU's growth strategy (Europe 2020). The modernization of labor markets, creation of jobs, helping the poor and socially excluded, and supporting an economy that uses less natural resources are seen among the top priorities. The Spring 2012 Eurobarometer, the bi-annual opinion poll...

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