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EsadeGeo Daily Digest, 20/11/2020

EsadeGeo Daily Digest, 20/11/2020

The Washington Post – Philip Rucker, Amy Gardner and Josh Dawsey / Trump uses power of presidency to try to overturn the election and stay in office

  • President Trump is using the power of his office to try to reverse the results of the election, orchestrating a far-reaching pressure campaign to persuade Republican officials in Michigan, Georgia and elsewhere to overturn the will of voters.
  • After courts rejected the Trump campaign’s baseless allegations of widespread voter fraud, the president is now trying to remain in power with a wholesale assault on the integrity of the vote by spreading misinformation and trying to persuade loyal Republicans to manipulate the electoral system on his behalf.
  • In an extraordinary news conference Thursday at the Republican National Committee headquarters, Trump’s attorneys claimed without evidence there was a centralized conspiracy with roots in Venezuela to rig the U.S. presidential election.
  • “We cannot allow these crooks — ’cause that’s what they are — to steal an election from the American people,” said one of the attorneys, Rudolph W. Giuliani. Neither Giuliani nor other Trump attorneys have furnished evidence to support that or any other claim of widespread fraud.
  • The New York Times – Maggie Haberman, Jim Rutenberg, Nick Corasaniti and Reid J. Epstein / Trump targets Michigan in his ploy to subvert the election

Politico – David M. Herszenhorn / EU leaders brace for December disasters in virtual meeting of doom

  • It was a summit for disaster planning — for the ongoing coronavirus pandemic; on a standoff over the bloc’s historic €1.82 trillion budget-and-recovery package; and for the prospect that negotiations with the U.K. would fail to yield a post-Brexit trade deal.
  • There are difficulties in devising common national protocols for the use of rapid antigen tests, logistical obstacles in manufacturing and distributing vaccines, opposition from vaccine skeptics, and a deep worry that lifting containment measures too quickly could lead to a third wave of infections.
  • In the budget standoff, leaders did not indicate any clear path toward resolving the dispute with Poland and Hungary, which blocked the fiscal package because they oppose a new rule of law mechanism.
  • Meanwhile, on the negotiations with the U.K., French President Emmanuel Macron and Dutch Prime Minister Mark Rutte were among several leaders who urged the Commission to begin putting contingency measures in place for the likelihood there would be no trade deal before the Brexit transition period ends on December 31.
  • Euractiv – Kira Taylor / Warsaw says ‘further analysis needed’ before EU’s 2030 climate target can be agreed

The Economist / Recep Tayyip Erdogan faces up to economic facts

  • Only a few weeks ago, the Turkish lira was plummeting from one record low to another as the central bank sat on its hands, foreigners were dumping Turkish stocks and the country’s finance minister, Berat Albayrak, was arguing that exchange rates did not matter.
  • Today the currency is enjoying a big rebound, the stock market is soaring, and officials are talking about the need to reform the courts and keep inflation in check.
  • For more than two years, Turkey’s autocratic president, Recep Tayyip Erdogan, had relied on Mr Albayrak, his son-in-law, to run the economy. Mr Albayrak nearly ran it into the ground. 
  • With banks dishing out credit at rates below inflation to revive growth, the lira sank by over 40% against the dollar, burning a hole through the savings of millions of Turks. The central bank and state banks wasted at least $100bn in precious foreign reserves in an abortive attempt to salvage the currency.
  • Al-Monitor – Diego Cupolo / Under new leadership, Turkish Central Bank delivers largest rate hike in two years

Financial Times – Christian Shepherd and Thomas Hale / China’s economic recovery jeopardises Xi’s climate pledge

  • China’s reliance on coal-powered industry to propel its economic recovery threatens to undermine President Xi Jinping’s goal of reaching net zero carbon dioxide emissions by 2060, new research showed.
  • Lockdowns to stem the spread of coronavirus have cut CO2 emissions globally, but environmentalists warn that governments must pursue climate-friendly stimulus measures to kickstart growth or risk a post-pandemic rise in greenhouse gases.
  • China’s recovery has been led by the state-dominated industrial sector. Construction demand has spurred a rise in steel, aluminium and cement production of 13, 11 and 10 per cent, respectively, in October compared with the same period last year.
  • That puts China on course to account for nearly 60 per cent of global output in the three sectors, a rise of almost 10 per cent on last year. The surging domestic demand makes it near-impossible for China to phase out fossil fuels, said Yang Muyi, an analyst at Ember, a climate think-tank in the UK.
  • Bloomberg / China must ban new coal power plants to meet 2060 goal: report

Further reading for the weekend:

The selected pieces do not necessarily reflect the views of Javier Solana and EsadeGeo. The summaries above may include word-for-word excerpts from their respective pieces.


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