Banks fail in Eastern Europe

Croatian and Latvian Bank became the top victims of financial crisis in Eastern Europe. The committee on financial and capital markets of Latvia imposed a ban, on Monday, on all financial services provided by the institution because of a lack of established several tens million lats. The activity of the board of directors and management of the bank was terminated. The next step is its liquidation.

Croatian Central Bank revoked the license of the local Credo Bank. This is the first bank failure in Croatia since the beginning of the crisis. In recent years the bank operated at a loss, and in May this year it was found that its administration has given false reports of the central bank, presenting the situation better than it was in reality. The share of Credo Bank in Croatian banking system is 0.44%, so its failure would not have significant consequences.

Britain doesn't want to participate in rescuing Europe

European Commission President made ​​a strong appeal to Eurosceptics, including those to the British government using this crisis as a reason for separation from the EU, says "Observer". Jose Manuel Barroso urged Britain to pursue European integration.

Writing to the "Observer", Barroso made ​​a rare intervention in British political debate, warning that he needed all member states to unite and make progress together. Barroso warned that "actions have consequences" and said that peace and prosperity will be best achieved by Europeans through the support and trust in EU institutions rather than to compartmentalize the continent politically and economically.

"We are witnesses of fundamental changes in economic and geopolitical order, and Europe needs to move forward with this or take the risk of collapse" he said.

"Our goal is not to maintain the same status but to move to something new and better," said Barroso. "I hope that when historians look back at these unprecedented times, they will understand that we have stepped back from the the edge of the fragmentation," says Barroso.

British Prime Minister has repeatedly called on eurozone leaders to take urgent action to save the euro. He refused both his country to participate in the rescue fund of the single currency and London feared losing their influence in Europe and behind the possible formation of a "two-speed Europe", explains "Reuters".

June couldn't revive Europe

Production in construction sector fell by 1.8% in the euro area and by 1.3% in the European Union in June compared to the previous month, according to seasonally adjusted data from Eurostat.

According to revised data for May production rose by 0.1% in the euro area and remained unchanged in the EU.

Compared to June 2010 construction in June this year decreased by 11.3% in the euro area and by 8.1% in the 27 EU member states.

On a monthly basis among the countries for which data are available for June, construction decreased in seven and increased in six. The largest decreases were registered in Slovenia (-11.9%), Hungary (-5.5%) and Germany (-4.5%) and the strongest increases - in the UK (3.8%) Slovakia (+2%) and Portugal (+1.7%).

Building construction decreased by 1% in the euro area and by 1.4% in the EU, while civil decreased by 2.7% and 0.8% respectively.

Yoy construction collapses in ten countries and increased in four. The largest falls were recorded in Spain (-43.7%), Slovenia (-35.9%), Hungary (-13.9%) and Romania, but most production is increased in Poland (16.2 %), Sweden (4.5%), Germany (2.6%) and Netherlands (2.3%).

Building construction decreased by 12.5% ​​in the Eurozone and by 9.7% in the EU and civil decreased by 4.5% in the euro area but rose by 0.6% in the European Union as a whole.

About Bulgaria is reported monthly decrease of 0.5% and a decrease of 2.6% annually.

Muammar Gaddafi has threatened to take the war in Europe

Libyan leader Muammar Gaddafi has threatened to send in Europe several hundred Libyan military in retaliation for Western countries to the detriment of its military campaign, NATO, says RIA Novosti.

"We regret when war came in Europe," Gadhafi said before many of his supporters in the town of Sabha 800 km south of Tripoli.

State TV broadcast the audio recording of the speech of the Libyan leader. Gaddafi declared readiness to avenge the European countries - "Eye for eye, tooth for tooth." According to him, Sicily, the Canary and other island in the Mediterranean are primordial Arab territories and must be "liberated."
"We are not afraid of them. We have no choice but to resist, to become martyrs and to fight until the very end, "said Gaddafi.

Southeast Europe has little progress in the first half of 2011

Southeast European countries, among which is Bulgaria, reported little progress in the first half of 2011. As a result it is expected a GDP growth in the region to be 1.9 percent for the year. It said in the last analysis for Central and Eastern Europe (CEE) "Raiffeisen Research" division "Raiffeisen Bank International".

Meanwhile, GDP growth expected this year for Central Europe is 3.3%. "The countries maintain close relations with Germany and German business in particular, enjoy the expansion, which has helped the economies of Poland and Slovakia to reach its potential growth", says the analysis "Raiffeisen".

According to Peter Bretsinshek, director of "Raiffeisen Research", differences in growth can be explained by the fact that domestic consumer demand has not recovered. Improvement is expected this year, which will displace exports from its leading role in economic growth in 2012, its dynamics will weaken significantly in line with the slowdown in Europe.

Against this background into account the expected GDP growth of 4.5% for 2011 CIS Bretsinshek considered reasonable forecasts for growth of 3.8% in CEE. And coming in 2012 may be a risk to domestic economic activity is overestimated, says the analysis.

For experts from Austria, "Raiffeisen Research" expect real GDP growth of 3.3% in 2011, which will be one of the highest in the eurozone. However, growth is expected to fall to just below 2% in 2012 due to declining export activity and the gradual return of consumer spending to normal levels.

European Citizenship

European citizenship does not replace national. As highlighted in the text of the TEU (1992), it complements it. Moreover, as already mentioned - can not be acquired separately from the national citizenship - therefore every EU citizen is first and foremost a citizen of their country and must comply with the statutory rules in it of their national citizenship. However, it should be stressed that EU citizenship can not be used to acquire the nationality of a Member State other than their country of origin of the individual European citizen. Only within the competence of Member States to lay down the rules for acquisition and loss of national citizenship.

The European Union

Development of integration processes in Europe is based on the European idea and seeking to identify forms of identity and unity of the countries of the continent. The idea of a Europe emerged in the nineteenth century and is connected with the overcoming of nationalist conflicts between countries. Important role in this regard takes the view of the cultural singularity of Europe with the rest of the world to be a factor for economic and political union of states. In this respect, the expansion of the European movement between the two wars are bound to demand a common approach in solving short-term economic issues, military cooperation and the federalist plans.

After World War II the idea of ​​a united Europe is associated with the establishment of international organizations to overcome the heavy build differences between countries and to establish mechanisms for political dialogue. Moreover, the question of the extent of powers of these bodies are formed by two concepts of their operation:

• intergovernmental organizations with a small secretariat, allowing for open questioning of government representatives;
• national organizations with executives to prepare solutions discussed by representatives of governments and adopted by a majority.