Page 19 - May-June 2018 GSE Report Flip Book

MONETARY POLICY MJAAYNU- AJRUYNE20210818
German Chancellor Merkel secures agreement on asylum seeker returns and faces growing pressure on the trade front
Economic turmoil in Iran triggers protests China—the land of contradictions
Will political risks trigger global monetary reset?
GLOBAL POLITICAL RISKS
German Chancellor Merkel secures agreement on asylum seeker returns and faces growing pressure on the trade front
German Chancellor Angela Merkel has secured agreements from 14 EU countries—including Hungary, Poland, the Czech Republic, Belgium, Denmark, Estonia, Finland, France, Lithuania, Latvia, Luxembourg, the Netherlands, Portugal and Sweden—to take back asylum seekers who had previously registered elsewhere. At a summit on refugee settlement, EU leaders agreed to share out refugees on a voluntary basis and create “controlled centers” inside the EU to process asylum requests, making the deportation process for previously registered refugees far more effective.
This bilateral agreement also provides Merkel leverage in her stand-off with Bavaria’s Christian Social Union, whose leader, Interior Minister Horst Seehofer threatened to defy Merkel by closing Germany’s borders to some refugees and migrants—a move that would likely bring down her government.
The Irish Times’ Derek Scally wrote:
For three years the Christian Social Union (CSU) [e.g., Merkle’s “sister party”] has demanded a tougher refugee line from the Merkel Christian Democratic Union (CDU), but always fallen into line. No more. After a federal election disaster last September, and another state election humiliation looming in October, the Bavarian lion is roaring now with a heady mix of superiority and vulnerability. “Every day people get news reports confirming their view that we politicians don’t have the situation under control,” said Alexander Dobrindt, CSU floor leader in the Bundestag. “Correcting this systemic failure is the task of the CDU/CSU union.” (SBS News, 06/30/18; The Independent, 06/30/18; The Irish Times, Derek Scally, 06/30/18)
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