The Centre for the USA and Europe at the Brookings Institution in Washington together with the French Presidency of the EU are organising a series of meetings with French personalities to review the French Presidency, analyse its impact on Europe and the way the Irish NO, the Russo-Georgian War and the financial crisis have been dealt with. Jean-Dominique Giuliani spoke on 20th November on Nicolas Sarkozy's influence on developments in the priorities that he initially established and on the possible changes to the EU after this presidency.

In an editorial published on his site Jean-Dominique Giuliani analyses the results of the G20 Summit looking into the influence Europe has had on the decisions taken.

In response to the financial crisis and to re-establish confidence in the markets the European Commission has put forward a project to regulate credit ratings agencies. These agencies assess financial products and their ratings are then used by the various players in the financial sector. The regulation proposal would establish the conditions whereby agencies are be able to issue ratings, the aim being to achieve greater transparency, limit the dangers of conflict in interests and to improve the quality of the ratings. Moreover the regulation proposal introduces a registration procedure to enable European surveillance authorities to control the activities of these agencies. The proposal was requested by the European Councils in June and October 2008.

The German Statistics Office published figures on the German economy for the third quarter 2008. For the third quarter running the GDP registered a decline of -0.5% in comparison with -1.4% in the first quarter and -0.4% in the second quarter which means that Germany has entered recession. Whilst imports have increased exports have declined slightly. The German Council of Economic experts published its provisions for growth. The GDP is due to increase by 1.7% in 2008 and by 0% in 2009. Inflation is due to lie at 2.8% this year and 2.1% in 2009. However the number of unemployed is due to rise from 3.27 million to 3.3 million. An increase in consumption related to the relative stability of the labour market and a decline in inflation rates and raw material prices should however help domestic growth. The Council welcomed the law on the stabilisation of the financial markets.

For the third quarter running Italy entered recession. Its GDP declined by 0.5% after a reduction of 0.3% in the second quarter according to an initial estimate published by Istat on 14th November. Given the situation the government is due to announce a plan to support the banks in the near future - to a total of 10 to 15 billion euros, so that they can increase their loans to companies and households. The government is also planning to stimulate the real economy with loan guarantee funds for SME's, support measures for innovation as well as the construction of infrastructures. The Italian Labour Minister, Maurizio Sacconi indicated on 10th November that the public deficit in Italy will rise to 3% in 2009, ie much more than the government's estimate of 2.1%. The confederation of company leaders, Confindustria reviewed its growth forecasts for 2008-2009 maintaining that the Italian GDP will undergo a decline of 0.4% this year and -1% in 2009.

According to recent estimates published on 13th November, the Organisation for Co-operation and Economic Development forecasts an extended economic slowing in the USA, Japan and the Euro Area. Economic activity is due to decline next year by 0.9% in the US, 0.5% in the Euro Area and by 0.1% in Japan. The GDP for all OECD countries is due to contract in 2009 by 0.3% annually before recovering slightly with growth of 1.5% in 2010. The average unemployment level in the OECD zone estimated at 5.9% this year is due to rise to 6.9% next year to reach 7.2% in 2010. The report believes that the world economy will have to face an extended period of financial turbulence until the end of the 2009 with a progressive stabilisation after that.

According to the most recent estimates by Eurostat published on 14th November the GDP in the euro area and the EU decreased by 0.2% in the third quarter of 2008 in comparison with the second quarter during which time the GDP declined by 0.2% in the euro area and by 0% in the EU. Hence technically the euro area entered recession for the first time in its history.

On 15th November leaders of the major developed and emerging countries (G20) promised to revive the world economy which is threatened by recession in all the wealthy countries and by a clear slowing in all other areas; they also promised to launch a reform of the international financial system. They decided on "immediate action" to prevent the world economy from drifting into long term recession and approved an "action plan" including "high priority" measures to improve supervision of the financial system, on which the Finance Ministers of these countries are to put forward proposals by 31st March. They also suggested a re-organisation of the multilateral organisations such as the IMF and the World Bank, which were created in 1944 in Bretton Woods to make way for the emerging countries. Leaders agreed to meet again on 30th April to "check the implementation" of the decisions taken. The French President suggested that this summit take place in London, UK - the country which will ensure the next presidency of the G20.

After a golden decade marred by a decline that started at the beginning of the year the Spanish economy fell into the red in the third quarter thereby entering recession. The GDP declined by 0.2% in the third quarter in comparison with the second said the National Statistics Institute on 14th November as it published its provisional figures identical to those recently announced by the Bank of Spain. In terms of the decline Spain slipped to 0.9% growth in comparison with 3.7% registered iin 2007. Spain has not suffered an economic decline like this since the second quarter of 1993 (-0.3%), before the launch of its "economic miracle".

The Bank of England believes that annual inflation may rise above the 1% mark in 2009 on the basis of the present interest rate established at 3%; it has even suggested that there may be deflation next year. In its quarterly report on inflation published on 12th November the Bank of England warned that next year price rises may not only rise beyond the 2% level established by the organisation but also that they may decrease, ie deflate in the second half of 2009, a scenario which is now part of the hypothesis studied by the Bank to decide on its monetary policy.

By the start of 2009 Switzerland will release some 890 million Swiss francs (599.1 million euro) in aid of its economy, that is affected by the financial crisis and economic slowing said the Swiss Economy Minister on 12th November. 550 million Swiss francs from the crisis fund put together by 650 companies "will be used by these companies to undertake investments in their companies."

The 22nd EU-Russia Summit on 14th November was affected by the consequences of the Russo-Georgian war as well as by the present financial crisis. In spite of differences with regard to Georgia both parties called for the organisation of a summit in 2009 with the USA for a new pan-European security agreement. In the meantime French President Nicolas Sarkozy said that he did not want any deployment of missiles on the continent. With regard to answers to give to the economic crisis both parties said they agreed to enforce regulation rules and financial discipline; they insisted on the mutual interest of both Europe and Russia in working together. Finally and in the wake of Russian interest in launching frank negotiations with regard to the situation in the Southern Caucasus, José Manuel Barroso, President of the European Commission announced that negotiations with Russia on a new strategic partnership would start up again as from January 2009.

The 27 Foreign Affairs Ministers exchanged views on 10th and 11th November with regard to EU-Russia relations with the upcoming Summit on 14th November in mind. An in-depth assessment of the EU-Russia relationship has been undertaken and will continue notably in the light of Russian behaviour which will be taken into account in the continued negotiations for a new agreement with Russia and with regard to other aspects of the relationship. They decided not apply the visa ban for another renewable six month period on Belarus leaders. With regard to the Western Balkans the 27 Ministers said they were very concerned about recent developments in the political situation in Bosnia-Herzegovina and by the unilateral declarations and acts which compromise the reforms, vital for the country's future. In terms of co-operation development they approved the EU's position in view of the upcoming UN conference on development funding in Doha.

The 27 European Ministers for Equality between men and women suggested on 14th November that they should establish common objectives to reduce the differences in salary between men and women, to define the means to achieve this and to publish the results won each year in the EU. Moreover they agreed on the establishment of a European company network by 2010 which will be on the leading edge of professional equality between men and women thereby leading to an exchange of good practice and with a knock-on effect.

On 13th November the European Comission put forward proposals to fill in legal loopholes on savings taxation to improve the fight against tax evasion. Since 2005, the Savings Directive ensures that paying agents either report interest income received by taxpayers resident in other EU Member States or levy a withholding tax on the interest income received. The Commission proposal seeks to improve the Directive, so as to better ensure the taxation of interest payments which are channelled through intermediate tax-exempted structures. It also proposes to extend the scope of the Directive to income equivalent to interest obtained through investments in some innovative financial products as well as in certain life insurances products. Moreover, simplification of the technical operation of the Directive should lead to a more user friendly system and more efficient implementation.

On 13th November the Commission published its second strategic review in terms of energy in which it puts forward a European action plan for energy security and solidarity. This document proposes the review of the directive on energy efficacy, contains a paper on electricity production by offshore windmills, updates the Commission's indicative nuclear programme. In addition to this a Green Paper on the trans-European energy networks defines priority projects particularly the gas pipeline Nabucco and an interconnection plan for the Baltic Sea which includes the gas pipeline North Stream whilst insisting on the respect of the environment. With regard to this last point Andris Piebalgs, European Commissioner for Energy said that in spite of the threats on the part of Russia to abandon the Russo-German gas pipeline project North Stream, the Europeans "cannot dilute their demands with regard to environmental legislation."

On 10th November the European Commission tabled its proposal on fishing possibilities and fishing effort for 2009 for the main stocks in the North-East Atlantic, including the North Sea. This takes account of the latest scientific advice on the state of fish stocks from the International Council for the Exploration of the Sea (ICES), advice from the Commission's own Scientific, Technical and Economic Committee on Fisheries (STECF) and input from stakeholders. Most stocks of fish continue to be overfished in 2008. This means that in order to build a healthy industry for the future, we need to fish less in the short term. The Commission's policy is to rebuild fish stocks through long-term plans for the main fish stocks. For other stocks, a gradual approach is applied, changing quotas by 15% or less each year. This provides some stability for the fishermen while maintaining movement towards more ecologically sustainable fisheries. The Commission's proposal will be debated by the Council of Fisheries Ministers when they meet on 17th-19th December so that they can apply from 1st January 2009.

On 12th November the European Commission presented the results of a public consultation on the reform of the EU budget. This consultation undertaken in Europe amongst the public, companies and governments shows "a desire for change" and "that it will be useful for put forward proposals" stressed Dalia Grybauskaité, European Commissioner in charge of the Budget. "The Commission will submit three options to its Member States next year but it will only make a proposal if political will is evident," she said. An agreement was made at the end of 2005 for the budget 2007-2013. Only technical adjustments are now possible during this period. In her opinion the present community budget with its 974.7 billion euro (over 100 billion euro per year, nearly half of which is set aside for aid to agriculture) will not allow the EU to act as it should when facing certain situations, "because it lacks adequate margin to manoeuvre".

On 13th November the German government presented its annual review of the state of German unity in 2008. According to this report the population in the new Länder is due to decrease by 11.4% by 2025. The economy of the eastern part of the country continues to suffer from structural deficits but there is a rapprochement in several areas, notably with regard to healthcare and education. MPs approved several proposals in support of reviving the eastern part of the country.

In April 2009 NATO will be celebrating its 60th anniversary. As declared by German Chancellor Angela Merkel on 10th November it will be the occasion to agree on a new strategic concept. In her opinion Afghanistan is the greatest challenge that NATO has to face and debate should not be reduced to discussing the number of soldiers present: considerations with regard to military security and civilian reconstruction go hand in hand. She insisted on the fact that it was impossible to ensure security by military means only. With regard to the Ukraine and Georgia's desire to join she said she was open to this but stressed that membership conditions were not fulfilled for the time being. On 14th November the Bundestag (the lower chamber in the German parliament) voted 428 votes in favour, 130 against and 8 abstentions for the extension of the Bundeswehr's mandate by 13 months until 15th December 2009 in the fight against terrorism and as part of the "Active Endeavour" and "Enduring Freedom" operations.

Germany is planning to help the entire German car industry after the SOS issued by manufacturer OPEL whose funding requirements total at least one billion euro. The car industry employs some 750,000 people in Germany where it is a key sector in Europe's leading economic power. German Chancellor Angela Merkel convened a crisis meeting on 17th November with Opel's managers - the German branch of the American General Motors (GM), which is itself on the verge of bankruptcy.

On 11th November French President Nicolas Sarkozy chaired a ceremony at the Fort of Douaumont marking the 90th anniversary of the Armistice of the First World War 1914-1918. "The construction of Europe, the Universal Declaration of Human Rights, the UN" are the greatest signs "of a change in awareness" that came after the horrors of the two World Wars," he said. Prince Charles, heir to the British throne, Grand Duke Henri of Luxembourg and the President of the European Commission, José Manuel Barroso and the President of the European Parliament, German Hans-Gert Pöttering, and the new President of the Bundesrat (the upper chamber in the German Parliament), Peter Müller attended the ceremony.

The Irish may say "yes" to the European Lisbon Treaty if a second referendum were to be organised - they rejected the text in June - if it was accompanied with a series of specific guarantees with regard to abortion or Ireland's military neutrality according to a survey for the "Irish Times" published on 17th November. According to the survey undertaken by TNS MRBI 43% of voters would vote "yes" and 39% "no" to a second referendum if they could be sure that Ireland would retain its European Commissioner and its low company tax rates, and if ratification did not imply abortion legislations and that it would not affect the country's military neutrality; 18% were undecided.

The head of the Italian government Silvio Berlusconi travelled to Izmir on 12th November for a Turkey/Italy Summit; he met his Turkish counterpart Recep Tayyip Erdogan. He demanded the EU accelerate Turkey's membership negotiations. He said that he was confident in terms of the opening of four rather than two new chapters with Turkey during the upcoming Czech and Swedish Presidencies of the EU in 2009.

On 13th November the 2008 "L'Europe pour les citoyens" forum rallied participants in the project funded by the programme "L'Europe pour les citoyens" whose aim it is to involve citizens in the construction of Europe. On this occasion the European Commission has awarded Golden Active European Citizenship Stars to 12 projects funded by the programme. One of the 12 Golden Stars was awarded to the Polish Robert Schuman Foundation for its project to simulate a European Council.

On 11th November the UK announced a limitation in the sectors open to immigrant workers from outside of the European Economic Area, thereby reducing the number of jobs they can aspire to by 200,000. This measure that will come into force on 27th November finds its inspiration in the points system employed in Australia which aims avoid workers filling spaces in certain professions.

On 10th November Croatia promised Serge Brammertz, prosecutor at the ICTY to continue to co-operate fully in the main trials for war crimes committed by Croats and who are on trial in this court. Serge Brammertz who travelled to Zagreb met Croatian Deputy Prime Minister Jadranka Kosor and Justice Minister Ivan Simonovic. During these meetings he referred to a request for additional documents which the ICTY had presented in June to the Croatian government for the trial of three former Croatian Generals, Ante Gotovina, Ivan Cermak and Mladen Markac.

The Urkraine's desire to have the famine of 1932-1933 acknowledged by the international community as a genocide against the Ukrainian people led to a hardening in relations between the Ukraine and Russia as the Ukraine is about to celebrate the 75th anniversary of this tragedy. Hence Russian President Dmitri Medvedev sent a long letter to his Ukrainian counterpart in which he exposed his disagreement with the thesis of genocide and announced that he would not travel to the commemoration ceremonies that will take place on 25th November. The Ukraine officially says that the Holodomor was a genocide, since the European Parliament recently judged that it was a crime against humanity.

According to figures published by Eurostat on 12th November in September 2008 compared with August 2008, seasonally adjusted industrial production fell by 1.6% in the euro area and by 1.1% in the EU. In August production grew by 0.8% and 0.3% respectively. In September 2008 compared with September 2007, industrial production decreased by 2.4% in the euro area and by 2.1% in the EU. The decrease is greatest with regard to investment, sustainable consumer and intermediary goods.

On the eve of the EU-Russia Summit on 14th November Eurostat revealed that trade between the EU and Russia almost tripled in value between 2000 and 2007 and this growth continued in the first half of 2008. Russia represents 8% of EU exports and more than 11% of imports; the trade balance is negative for the EU. Russia is the EU's third most important trade partner after the USA and China.

According to Eurostat estimates published on 14th November the monthly inflation rate in the euro area and the EU were zero (0%) in October 2008. As a result of this the annual inflation rate in the euro area is declining to reach 3.2% in October 2008 in comparison with 3.6% in September - likewise the EU rate which lay at 3.7% in October 2008 against 4.2% in September.

The European Centre for International Political Economy ECIPE has published a paper by Fredrik Erixon entitled "Europe's energy dependency and Russia's commercial assertiveness". The author believes that the new confidence in trade on Russia's part is not a temporary phenomenon and this will affect European energy supply and European investor confidence in Russia. Hence he suggests that there are two pieces missing from the European approach to Russia: an integrated energy policy and the establishment of negotiated procedures to settle legal conflicts and to reassure investors.

The most recent paper by the Centre for Franco-German relations (CERFA) looks into the "German exportation model: why does Germany export so much?" Author Hans Brodersen explains that for the last five years Germany has been the world merchandise export leader.

The presses of Sciences Po have published a paper by Christian Lequesne entitled "La France dans la nouvelle Europe - Assumer le changement d'échelle" (France in the new Europe - taking on large scale change). The author follows developments in France's European policy since the start of the '80's. He explains why France, its political elites and its society find it hard to consider the role played by their country in an enlarged EU and to think positively about globalisation.

The Natural History Museum in London is paying tribute to the English naturalist Charles Darwin with an exhibition that covers the intellectual journey that led to the theory of evolution; it helps to understand the man behind the scientist. This exhibition that opened on 14th November and which will run until 19th April 2009 is part of the events planned for the bicentenary of Darwin's birth in February 2009 and the 150th anniversary of the publication of his major work: "The Origin of the Species by means of Natural Selection."

The 49th Film Festival of Thessaloniki will be running from 14th to 23rd November. There will be 230 films including 14 which are competing for a "Golden Alexander". This year tribute is paid to the Dardenne brothers whose film "Lorna's Silence" won the best scenario prize in Canne and the LUX prize awarded by the European Parliament in 2008. This festival will also provide an opportunity to see Greek films as well as a series on the Balkans.