Restless quadrilateral

In the currents weeks, Europe’s political game is being played in an ideal "quadrilateral". Even if the entire Continent’s top priority is still the economy, one must consider that "man does not live by bread alone"… Therefore the EU is looking at Dublin, Madrid, Athens and Kiev.First of all, Ireland, where on May 31st citizens voted in favor of the Fiscal compact, the treaty which sets tight measures to keep public budgets under control, favoring at the same time governance and paving the way – especially thanks to virtuous finance – to investments in growth and jobs. "The budget treaty" is an inter-governmental agreement, signed in March by 25 EU Member States (all except the United Kingdom and the Czech Republic) awaiting to be ratified by the signatories. Ireland was being monitored with concern, having been the only country to proceed by a referendum. The green light with a broad majority coming from Dublin shows no further hurdles in the agreement enforcement on January 1st. Apart from its specific content, the Fiscal compact is a clear sign of the European community’s commitment to come out of the crisis together and firmly. This Treaty, on its own, will not be enough and must be backed by other measures under study that will be presented during the EU Council meeting on June 28-29: from the state-bailout fund to bond projects, from the "banking union" to the eurobond, from a stronger ECB to monetary and fiscal measures to turn the EU into a singe competitive market, shielded from speculations and competition from the United States, China and other global giants. And now Spain, the second quadrilateral "corner"under the spotlight. Spain, the fifth economic continental power, is undergoing a long and deep recession. Budget and employment figures and those on production and consumption, unveil a country on its knees. To recover, Madrid needs immediate aid to save the weakened banking system, to fulfill its credit task, and help enterprises invest and start off the economy. Currently work is carried out between Brussels (EU Council and Commission) and Frankfurt (Central Bank) on a bank-saving strategy for Spain. Eventually, if backed by Angela Merkel’s Germany, the plan might make it to the Summit table at the end of June. Notwithstanding, the costs it would be convenient for all: giving a helping hand to Madrid would mean to save the euro and European integration as a whole.The third geographical pole is Athens, that is economically worse off than Spain, and urgently needs financial aid, but paradoxically must decide whether to take it or not. During the legislative elections at the beginning of May no political force won: the inability to form a government capable of managing the crisis led to the need for new elections. Therefore on June 17th, Greek citizens will vote rather than for the election of the Parliament, in a sort of referendum in favor or against the single currency, whether to stay in or go out of Europe. Staying in Europe will call for many economic and social sacrifices from the Greek people, but at the same time will promise to save the Mediterranean country from default, risking to pave the way for political and economic scenario tougher than the current ones. The last angle of the European political quadrilateral is represented by Kiev. Starting from June 8th to July 1st the European football championships will be co-organized by Poland and Ukraine. When, more or less five years ago, Ukraine was picked to host the sport event, it was still on an original, peaceful and strong path -that of the "orange revolution" – moving from the Soviet inheritance to the European "Common house". Now the international scenario has changed: if many of the forces who created the orange revolution failed their mission, the country is now in the hands of a master-president Victor Yanukovich, who tends to get rid of political woes using repressive means rather than through free elections (like in the case of the fake trial and arrest of the former premier Yulia Timoshenko) positioning itself outside of the European democracy. Just before the beginning of Euro 2012, the EU chancelleries are pondering two conflicting options: either boycott the matches in Ukraine or force Yanukovich’s hand in asking for justice for Timoshenko and true democracy. The train of Europe’s future may also cross Kiev".