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Gary Cohn, director of President Donalds Trump National Economic Council, has made a rather interesting statement. Weve been told we need deregulation to grow jobs in this country. We are not anti-regulation. We want smart regulation that allows our financial services to be the envy of the world, he said.

In simple words, Cohns statement means, In the US, regulation on banks will be reduced. At the same, in the EU regulation on banks will be increased and that will be important for investors.

Its remarkable that when we look at statistics by the Federal Reserve of St. Louis inCommercial and Industrial Loans, All Commercial Banks,we see that at the moment total loans stand at $2.099 trillion and the ascending curve of the total amount is close to similar as the one we have seen in the run-up to the crisis from April 2004 to November 2008. The data are, in my opinion, food for thought.

Unsurprisingly, markets reacted positively on Friday with the S&P 500 Financials Index advancing 2 percent. Goldman Sachs rose 4.6 percent and Morgan Stanley reacted similarly with a plus of 5.5 percent, which was the biggest gain since the Trump election.

Besides that, German Chancellor Angela Merkel said European leaders may commit to a union of "different speeds" when they make a major declaration on its future at the next summit in Rome at the end of March, of course without Great Britain. That declaration of Rome should mark the 60th anniversary of the EU and in which they will have to set out the EUs post-Brexit roadmap.

If you ask me, yes this is important for long-term investors notwithstanding it got very little attention in the media.

Merkel said: We certainly learned from the history of the last years, that there will be as well a European Union with different speeds (!), that not all will participate every time in all steps of integration (!). I think this may be in the Rome declaration as well.

Merkel said the idea was to set out a plan for the next ten years of the EU, which has been buffeted by the Eurozone crisis, Brexit, migration, the Ukraine conflict and now faces a new challenge in the form of US President Donald Trump.

By the way, Belgium, the Netherlands and Luxembourg, a group of the EU's founding members, also issued a statement on Friday backing a two-speed EU.

On March 25, we can expect a EU Declaration of Rome. Interestingly, the meeting in Rome will come just after the Dutch will have had their general elections on March 15.

Now, suppose the EU heads of state follow, which is to be expected, Mrs. Merkel idea that we could get a EU that should work at different speeds (!) because there is no other choice, then the legitimate question that arises is how could economies of the same union can perform well, not forgetting they all had their own currencies not so long ago, with a single currency whereby the euro has the same value for everybody?

We dont know if ECB PresidentMario Draghi hintedat something like Changes are in the air, but anyway in a prepared speech he gave last Thursday, which was before Mrs. Merkel comments, he stated: The euro area relied heavily on the notion that the integration process would itself create the incentives for sound policies. Faced with stronger competition through the single market and an inability to devalue, governments would be forced to address long-term structural problems and ensure fiscal sustainability. That this did not happen was in part because the single market process stalled

Finally, German Finance Minister Wolfgang Schauble said in the German daily Tagesspiegel: The euro exchange rate is, strictly speaking, too low for the Germaneconomys competitive position.When Draghi embarked on the expansive monetary policy, I told him he would drive up Germanys export surplus...I promised then not to publicly criticize this policy course. But then I dont want to be criticized for the consequences ofthis policy.

Schaubles comments came after last week Peter Navarro, US President Donald Trumps top trade adviser, had toldthe Financial Timesthat Germany was exploiting the US and its EU partners by using a grossly undervalued euro to create a vast trade surplus.

Yes, it looks like there is some change in the air.

Etienne "Hans" Parisisis a bank economist who has advised global billionaires and governments on the financial markets and international investments.

2017 Newsmax Finance. All rights reserved.

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European Union at 'Different Speeds' May Thwart Long-Term Investors - Newsmax

Mr Donald Tusk

President of the European Council Rue de la Loi 175 1048 Brussels

Mr Jean-Claude Juncker

President of the European Commission Rue de la Loi 200 1049 Brussels

Ms Federica Mogherini

High Representative of the European Union for Foreign Affairs and Security Policy / Vice-President of the European Commission Rue de la Loi 200 1049 Brussels

Mr Johannes Hahn

Commissioner for European Neighbourhood Policy & Enlargement Negotiations Rue de la Loi 200 1049 Brussels

February 1, 2017

Dear President Tusk, President Juncker, High Representative / Vice-President Mogherini,

We, the undersigned organizations, are writing in advance of Azerbaijan President Ilham Aliyevs upcoming visit to Brussels and meeting with you. We urge you to use this high-level visit to insist that President Aliyev commits to concrete, lasting human rights reforms in Azerbaijan. Insisting on such reforms would help ensure that the EU guides its engagement with Azerbaijan in a manner that honors Article 21 of the Lisbon Treaty, and the EU strategic framework and action plan on democracy and human rights, by fostering democracy, the rule of law, the universality and indivisibility of human rights and fundamental freedoms.

President Aliyevs visit takes place following the EU Foreign Affairs Councils authorization of a mandate for negotiating a new partnership agreement between the EU and Azerbaijan. At the same time, the Azerbaijani government restricts the space for independent activism, critical journalism, and opposition political activity by imprisoning and harassing many activists, prominent human rights defenders, and journalists, as well as by adopting laws and regulations restricting the activities of independent groups and their ability to secure funding.

The Azerbaijani authorities are sensitive to concerns from partners such as the EU, as demonstrated by their release of 17 human rights defenders, journalists, and political activists in 2016. Despite this, the authorities continue to keep many other government critics wrongfully imprisoned, and have arrested more political activists and bloggers throughout 2016 and 2017, underscoring that partners can only expect to see meaningful results if they have principled and consistent engagement and set clear benchmarks for sustained reform.

Non-governmental organizations in Azerbaijan face serious obstacles to operating independently due to excessive legal and regulatory restrictions. Cabinet of Ministers regulations issued in January 2017, as part of the governments review of laws regulating NGOs and donors, offer limited prospect for fundamentally improving the operational environment for NGOs. Although the new regulations simplify some procedures for registration of foreign grants, they leave intact the large discretion of the authorities to arbitrarily deny their registration.

Azerbaijan violates its human rights commitments to free speech, assembly and other protections, blatantly ignores the European Court of Human Rights judgment in the Ilgar Mammadov case and blocks all funding to independent civil society organizations by any EU institution. Deepening engagement with a government without securing concrete and sustainable human rights improvements sends a message that these issues are not of concern to the EU and could lead to further deterioration in human rights protection.

In 2015 the Extractive Industries Transparency Initiative (EITI) downgraded Azerbaijans status from member to candidate, due to the inability of civil society to adequately participate in EITI decision-making processes because of the countrys severe restrictions on free speech and free association. In October 2016, after re-assessment, EITI chose not to reinstate Azerbaijans status due to a lack of improvements. The Open Government Partnership voted in May 2016 to downgrade Azerbaijans membership to inactive status, citing the authorities arrests of activists, freezing of NGO bank accounts and restrictions on foreign funding, and other concerns.

We urge the EU and its member states to secure tangible human rights improvements and changes from the government of Azerbaijan at the very outset of negotiations of the new partnership agreement. Any new partnership agreement signed with Azerbaijan should similarly include strong provisions committing the government to upholding universal human rights standards and securing lasting, meaningful human rights reforms.

Doing otherwise would also seriously question the principles set out in the EUs founding principles and in the EUs Strategic Framework on Human Rights and Democracy, as well as the commitments enshrined in the EU Guidelines on Human Rights Defenders and the EU Human Rights Guidelines on Freedom of Expression Online and Offline.

In light of this, in your upcoming meetings with President Aliyev, we urge you to insist on:

We also call upon relevant European Union institutions to abide by their commitments to transparency, including ahead of and during the process of negotiating the new partnership agreement between the European Union and Azerbaijan. Transparency and public scrutiny are fundamental elements of good governance.

We thank you for your attention and remain at your disposal for any further questions.

Sincerely,

Eastern Partnership Civil Society Forum

Front Line Defenders

Human Rights House Foundation (HRHF)

Human Rights Watch

International Federation for Human Rights (FIDH).

International Partnership for Human Rights (IPHR)

Center for Civil Liberties, Ukraine

Democracy and Human Rights Resource Center, Azerbaijan

Election Monitoring and Democracy Studies Center (EMDS), Azerbaijan

Human Rights Club, Azerbaijan

Human Rights Information Center, Ukraine

Kharkiv Human Rights Protection Group, Ukraine

Legal Education Society, Azerbaijan

Public Association for Assistance to Free Economy, Azerbaijan

NGOs members of the Civic Solidarity Platform:

ARTICLE 19, UK

Crude Accountability, United States

HRM Bir Duino, Kyrgyzstan

Human Rights Monitoring Institute, Lithuania

Centre for the Development of Democracy and Human Rights, Russia

Human Rights Center of Azerbaijan

Index on Censorship, United Kingdom

Institute for Reporters Freedom and Safety (IRFS)

Kazakhstan International Bureau for Human Rights and Rule of Law

Macedonian Helsinki Committee

Moscow Helsinki Group

Norwegian Helsinki Committee

Office of civil freedoms, Tajikistan

Promo LEX, Moldova

Public Association Dignity, Kazakhstan

Public Verdict, Russia

The Kosova Rehabilitation Centre for Torture Victims

The Netherlands Helsinki Committee

The World Organisation Against Torture (OMCT), Switzerland

Ukraine Helsinki Human Rights Union and Analytical Center for Interethnic Cooperation and Consultations

NGOs members of the Human Rights House Network:

Barys Zvozskau Belarusian Human Rights House in exile, Vilnius (on behalf of the following NGOs):

Belarus Watch (ByWatch)

Belarusian Association of Journalists

Belarusian Helsinki Committee

City Public Association Centar Supolnasc

Human Rights Centre Viasna

Human Rights House Belgrade (on behalf of the following NGOs):

Belgrade Centre for Human Rights

Lawyers Committee for Human Rights YUCOM

Helsinki Committee for Human Rights in Serbia

Educational Human Rights House Chernihiv (on behalf of the following NGOs):

Ahalar

Civic Education Center Almenda

Chernihiv Public Committee of Human Rights Protection

Local Non-governmental Youth organizations R

Ukrainian Helsinki Human Rights Union

Human Rights House Oslo (on behalf of the following NGOs):

Health and Human Rights Info

Human Rights House Foundation

Human Rights House Tbilisi (on behalf of the following NGOs):

Article 42 of the Constitution

Caucasian Centre for Human Rights and Conflict Studies (CAUCASIA)

Georgian Centre for Psychosocial and Medical Rehabilitation of Torture Victims (GRCT)

Human Rights Centre (HRIDC)

Media Institute

Union Sapari

Human Rights House Voronezh (on behalf of the following NGOs):

Charitable Foundation

Civic Initiatives Development Centre

Confederation of Free Labor

For Ecological and Social Justice

Free University

Golos

Interregional Trade Union of Literary Men

Lawyers for labor rights

Memorial

Ms. Olga Gnezdilova

More:
Joint NGO Letter to the European Union Officials - Human Rights Watch (press release)

Brussels: The EU today insisted all parties must fully implement the Minsk ceasefire accords to restore peace in Ukraine, after US President Donald Trump stoked fresh concerns he could take a softer line on Russia.

Trump repeated over the weekend he wanted to work with President Vladimir Putin to fight the Islamic State group, and drew fire from across the US political spectrum by playing down alleged political assassinations in Russia.

The White House also raised eyebrows by referring to "Ukraine's long-running conflict with Russia" -- a framing of the situation that former national security advisor Susan Rice publicly criticised as a "distortion of... Recent history".

Russia annexed the Ukrainian region of Crimea in March 2014 and has supported separatists in the east of the country.

Asked about the US administration's remarks, EU foreign affairs head Federica Mogherini said she could not speculate about their meaning but she was clear what the European Union's position was.

The 28-nation bloc would "continue not to recognise" the illegal annexation of Crimea by Russia, Mogherini said as she arrived for an EU foreign ministers' meeting in Brussels. The EU also recognises "the need to fully implement the Minsk agreements, including or starting from a ceasefire and restoring calm to east Ukraine," she said.

"I cannot say where the US administration stands... I can only say where the EU stands on this," Mogherini added. British Foreign Secretary Boris Johnson stressed there could be no easing of sanctions on Russia until peace was restored in Ukraine.

"The UK will be insisting that there is no case for relaxation of the sanctions, there is every case for keeping up pressure on Russia," Johnson said as he went into the meeting.

He said everyone was concerned by the recent upsurge in fighting between government troops and pro-Moscow rebels in the east.

Russia annexed Crimea after pro-EU protestors ousted pro-Russian president Viktor Yanukovych, sparking a conflict which has cost nearly 10,000 lives and plunged EU ties with Moscow into a deep freeze.

Trump meanwhile has repeatedly said he wants to improve relations with Putin, appearing to downplay events in Ukraine to the dismay of historic US allies in Europe.

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European Union says Ukraine rivals must stick by Minsk accords - Zee News

The presenter talked with Charles Grant, director of the Centre for European Reform, and Henry Newman from Open Europe, over the cost of Britain leavingtheEuropean Union.

Speaking on Sunday Politics, the host claimed Theresa May would find it very difficult in the future if she is forced to pay a 30billion bill to the EU.

Mr Grant suggested Brussels is expecting a figure up to the amount of 60bn before admitting it could be considerably lower.

However, host Neil exploded over the huge amounts of money that Britain could be forced to pay as a result of Brexit.

BBC

He said: Am I missing something here? If she ends up settling for a bill of about 30billion, which I think would be politically, no matter how popular she is, politically very difficult for her.

It does kill any idea that there is a Brexit dividend for Britain.

Mr Grant explained how this issue could potentially crash Brexit talks and leave the UK in a very dangerous position.

He said: Well some of what some of the senior officials in London and also Brussels are very worried that this particular issue could crash the whole talks.

GETTY

It may be politically impossible for Theresa May to accept a Brexit bill of 30billion

Charles Grant, director of the Centre for European Reform

Because it may be politically impossible for Theresa May to accept a Brexit bill of 30billion.

If there is no deal and we leave the EU without a settlement then there is massive legal uncertainty.

If Article 50 ended in two years, no deal, what contract law applies, can aeroplanes take off from Heathrow? Nobody knows what legal rights you have if youre an EU citizen living in Britain or visa-versa.

The director added that Brussels believes this puts the EU in a very strong position as the UK prepares to leave.

PA

1 of 12

Issued by the Supreme Court of (top row, from the left) Lord Neuberger, Lord Mance, Lord Kerr, Lord Sumption, (bottom row, from the left) Lady Hale, Lord Clarke, Lord Wilson and Lord Hodge, who agreed with the majority decision that the Government could not trigger Article 50 without Parliamentary approval.

He added: If there is no deal at the end of two years then we crash out, disastrous for the British economy, bad for the European economy.

Therefore they think they have all the cards to play. And they are very worried that if it is mishandled domestically in Britain then we will have a crash.

The host was left furious over the potential issues that could come if the Prime Minister does not secure a good deal with the European Union.

He finished: We will wait a long time for that 350million a week or whatever it was that was meant to come from Brussels to spend on the NHS, thats not going to happen for the next five, six, seven years.

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'Am I missing something?' Andrew Neil FUMES over 30bn Brexit bill EU expects UK to pay - Express.co.uk

The European Union has been weathering plenty of disunity in recent months. But as they gathered Friday, the blocs leaders seemed to have found common ground in growing concerns over President Trumps unexpected new policies and unconventional mode of governance.

Mainstream European political figures already worried about populist challenges and the specter of Russian interference in their own upcoming elections have been rattled by a rapid-fire series of controversial presidential directives and combative behavior, including a getting-to-know-you call with Australias prime minister that reportedly ended abruptly when Trump became irritated over a refugee agreement.

In Valletta, the ancient fortress-capital of the Mediterranean island nation of Malta, leaders arriving for the EUs first gathering since Trumps inauguration had some sharp words for the 2-week-old U.S. administration some centering on policy disagreements, and some on the presidents unorthodox style.

Both before and after he took office, Trump has been vocal in his support of Britains vote last June to exit the European Union, and has made repeated and almost offhand references to the likelihood of the bloc breaking up. He has also called NATO obsolete, but in recent days has signaled at least a degree of support for the transatlantic alliance that most European nations regard as vital to their security.

Trumps remarks have been read by many in Europe as a sign that the new U.S. president has little regard for international institutions widely credited with underpinning decades of peace and economic progress. French President Francois Hollande, who spoke with Trump last weekend, was perhaps the most openly combative in his view of the U.S. leader.

It is unacceptable that there should be through a certain number of statements by the President of the United States pressure on what Europe should or should not be, the French news agency AFP quoted Hollande as saying as he arrived at the informal summit.

More criticism came from Austrian Chancellor Christian Kern, who said tangible aspects of Trumps policies were setting off alarm bells in Europe, and from the president of the European Commission, Jean-Claude Juncker, who suggested that the Trump administration had not shown itself to be very detail-oriented.

In the European Union, details matter, Juncker said.

One reported contender for the post of Trumps envoy to the EU, businessman Ted Malloch, has already stirred controversy. In a BBC interview last month, Malloch appeared to liken the EU to the former Soviet Union, suggesting that maybe theres another union that needs a little taming. He later said the comment had been tongue-in-cheek.

In Malta, even some who said they were willing to take a wait-and-see attitude about the new U.S. administration were hardly positive in their assessments. The prime minister of Luxembourg, Xavier Bettel, said the U.S. presidents values were not the values Im fighting for.

German Chancellor Angela Merkel took a characteristically cooler and more pragmatic tone, telling reporters as she arrived: I have already said that Europe has its destiny in its own hands. Merkel had voiced that view after Trump seemed to waver in his backing of NATO.

Germany has been unhappy, however, with a senior Trump advisers talk of the European common currency, the euro, being artificially undervalued, and his suggestions that Merkels government was to blame. And Merkel has expressed reservations about the presidents suspension of the U.S. refugee program and his temporary ban on travel from seven Muslim-majority countries.

At their gathering, the EU leaders held closed-door talks in which they hoped to forge a strategy for individual and collective dealings with Trump. Analysts said that would be no easy task.

Its a policy sea change for an American president to openly state that he supports additional countries leaving the European Union, said Heather Conley, director of the Europe program at the Washington-based Center for Strategic and International Studies.

We just never had an approach to foreign policy like this no one has a playbook, no one has a manual, she said.

Heading into the Malta meeting, EU President Donald Tusk had taken the unprecedented step of warning in a letter to European leaders that Trumps policies posed a potential threat to the bloc, listing that alongside other menaces including Russian aggression, jihadist attacks and a wave of populism.

The meeting was a somewhat awkward one for British Prime Minister Theresa May, who is moving to implement the so-called Brexit. May met with Trump in Washington last week andpressed European concernsabout American support for NATO, but suffered intense blow-back at home, particularly after the travel ban was announced, less than 24 hours after her departure.

Mays offer to serve as a bridge between Trump and the EU drew a tart response from one of the leaders attending the Malta talks the president of Lithuania, Dalia Grybauskaite, who also took a swipe at the U.S. presidents penchant for making foreign policy declarations by tweet.

I dont think there is a necessity for a bridge, the Lithuanian leader, whose Baltic states proximity to Russia renders it heavily dependent on the NATO security umbrella, told the BBC. We communicate with the Americans on Twitter.

The main goal of the gathering in Malta, on the front lines of the Mediterranean migrant crisis, was to try to find ways to stem seaborne arrivals from North Africa. The leaders endorsed a plan to provide Libyas coast guard with equipment, training and other support, and to cooperate with Libyas neighbors, including Tunisia and Egypt.

But rights groups expressed reservations about the plan, saying would-be asylum seekers could be either trapped in lawless Libya or sent back home and exposed to the same perils that caused them to flee.

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A divided European Union has one thing in common: Mistrust of Trump - Los Angeles Times