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EsadeGeo Daily Digest, 14/10/2021

EsadeGeo Daily Digest, 14/10/2021

Politico – Cristina Gallardo and Hans von der Burchard / Everything you need to know about the EU´s proposal for Northern Ireland trade

  • Brussels has rejected British demands to negotiate a “new protocol” for post-Brexit trade with Northern Ireland and insisted on improving the current model instead.
  • In unveiling what it called a “meaningful and substantial” package of solutions, the European Commission on Wednesday proposed four papers to tackle disruption in trade between Great Britain and Northern Ireland. These trade flows are governed by the Northern Ireland protocol that Brussels and London agreed as part of the Brexit Withdrawal Agreement in 2019.
  • The Commission’s package aims to ease the movement of goods from Great Britain to Northern Ireland by cutting down paperwork and costs for traders while introducing more structural safeguards and stronger surveillance.
  • The reduction in red tape would be achieved by broadening the list of goods the EU thinks will stay in Northern Ireland and which are not at risk of secretly circulating into the rest of the EU single market via the border with the Republic of Ireland.
  • The Guardian- Lisa O´Carroll / Northern Irish firms hail EU proposals to resolve Brexit protocol row

South China Morning Post / Taiwan won’t start a war with mainland but ‘will meet enemy full on’, defence minister says

  • Taiwan will not start a war with Beijing but will defend itself “full on”, Defence Minister Chiu Kuo-cheng said on Thursday, amid a spike in tensions across the Taiwan Strait that has raised concern internationally.
  • Taiwan, a major semiconductor producer, has repeatedly said it would defend itself if attacked, but that it would not “advance rashly” and wanted to maintain the status quo with the mainland.
  • He was speaking after the People’s Liberation Army mounted four consecutive days of mass air force sorties into Taiwan’s air defence identification zone beginning on October 1, part of a pattern of what Taipei views as stepped-up military harassment by Beijing.
  • Military tensions with Beijing, which claims Taiwan as its own territory, are at their worst in more than 40 years, Chiu said last week adding that Beijing would be capable of mounting a “full scale” invasion by 2025.
  • Foreign Policy – James Palmer / Why China won’t back off Taiwan

Financial Times – Max Seddon and David Sheppard / Putin denies Russia is restricting gas supplies to Europe

  • Vladimir Putin has vehemently denied Russia is limiting gas supplies to Europe to drive up prices but offered no indication that there would be swift action to relieve tension in volatile energy markets.
  • The Russian president told a conference in Moscow on Wednesday that accusations of state-owned Gazprom using energy as a “weapon” to speed up approval of the recently built Nord Stream 2 pipeline to Germany were “politically motivated blather”.
  • Putin said Russia was meeting all requests for gas supplies from Europe, adding that Gazprom had already exceeded its contractual obligations to customers in the bloc
  • “We’re increasing [supply] as much as our partners ask. There hasn’t been a single refusal. Not one,” Putin said.
  • Euractiv – Frédéric Simon / EU outlines short and long-term answer to global energy price surge

CNBC – Jeff Cox / Fed says it could begin ‘gradual tapering process’ by mid-November

  • Federal Reserve officials could begin reducing the extraordinary help they’ve been providing to the economy by as soon as mid-November, according to minutes from the central bank’s September meeting released Wednesday.
  • The meeting summary indicated members feel the Fed has come close to reaching its economic goals and soon could begin normalizing policy by reducing the pace of its monthly asset purchases.
  • In a process known as tapering, the Fed would reduce the $120 billion a month in bond buys slowly.
  • The target date to end the purchases should there be no disruptions would be mid-2022.
  • Bloomberg – Craig Torres / Fed officials saw taper starting in mid-November or mid-December

Today’s further reading:

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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