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Election aftermath – MEPs to watch on economic and financial policy

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Election aftermath – MEPs to watch on economic and financial policy

The European Parliament is establishing new political groups and leadership, with the first constituent plenary session on 16-19 July – Euronews has earmarked MEPs likely to shape economic and finance policy in the new assembly.

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A new parliament is being shaped around the powerful central European People’s Party group with its coalition Socialist & Democrat, green and liberal allies, but with a strengthened far right adding fresh impetus and uncertainty to the process – all of which could affect the development of financial policies over the next five years.  

While there is growing desire among lawmakers to focus more on enforcement and implementation before more regulation, there are widespread differences among the political groups on how to boost longer term economic growth.  

“One key reason for Europe’s poor economic performance is low productivity, the lack of financing available for high-potential, high-risk businesses, and the barriers to innovative European firms building scale across the Union,” researchers from the think tank Centre for European Reform (CER) wrote in a post-election analysis.  

“Populist and far-right parties are likely to be a hindrance to many of these steps,” the CER analysts added, noting that reforms such as those needed to strengthen Capital Markets Union will probably be occupy the agenda of centrist MEPs.  

Also on the to-do list is the digital euro project, which aims to provide consumers with an alternative means of payment, and the revision of EU rules on payment services, where the Parliament wants to make online platforms liable for payment fraud.   

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But who is most likely to influence these and other dossiers through a newly formed economic and finance committee in the Parliament?  

More than 25 full members of the Parliament’s economic committee are expected to be back for another five years, according to a Euronews analysis based on available provisional results. 

Among them are both committee chair Irene Tinagli (Italy/Socialists & Democrats) and vice-chairs Markus Ferber (Germany/EPP), Stéphanie Yon-Courtin (France/Renew Europe), Jonás Fernández (Spain/S&D) and Johan Van Overtveldt (Belgium/ECR). 

Others weren’t so lucky.  

Romanian liberal economist Dragoș Pîslaru, professor Marek Belka (Poland/S&D) and Eva Poptcheva (Spain/EPP), who led work to create a new anti-money laundering agency, were not re-elected.   

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As the veterans check our pre-election list  take up their old roles alongside fresh faces – Euronews took a look at some of the interesting newcomers who might be destined for the committee. 

Five to watch:  

1. Sophie Wilmès (Belgium/Renew Europe)

Wilmès (49) is a former Belgian prime minister, the first woman to hold the position, and the successor to current European Council president Charles Michel.   

The Belgian led the list of the liberal Mouvement Reformateur (MR) party, which won around 540,000 votes in the June elections – equivalent to three of 22 seats.  

The MR’s top candidate studied communications and financial management, and also worked for a time as a financial officer for the European Commission and as a financial and economic consultant for a law firm.    

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In 2015, she was budget and civil service minister until she became prime minister of Belgium from October 2019 to October 2020, when she also took on the role of deputy prime minister and foreign affairs minister.   

In the summer of 2022, she stepped down from her roles for personal reasons – but is now ready to shape EU policy.   

2. João Cotrim de Figueiredo (Portugal/Others)

Another interesting profile is that of businessman and a politician, liberal João Cotrim de Figueiredo (62).   

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Cotrim de Figueiredo won one of two seats for the Iniciativa Liberal (Liberal Initiative) party for the first time in the EU elections.   

An MBA holder and economics graduate with experience in the financial sector, between 2013 and 2016, he was chairman of the board of directors of Turismo de Portugal, and only became a politician in 2019, when he was elected as a deputy for the Lisbon constituency in the 2019 Portuguese legislative elections. 

3. Pasquale Tridico (Italy/NI)

Tridico (48) holds a PhD in Economics from the University Roma Tre and served as president of the National Institute of Social Security (INPS) from 2019 to 2023.  

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He was involved in the reform of the Italian pension system and the implementation of a so-called ‘citizenship income’ initiative, a minimum income scheme, which might inspire his activity as an MEP.   

“The idea of a European basic income financed by all, with an increase in the European budget, and used on the basis of need, where the crisis bites the most, would amortise the social spending of a state,” Tridico said in an interview last year. 

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The Italian has published articles on economic growth, welfare models, sustainable development and inequality in various academic journals – and teaches courses on economic policy and labour economics.   

Now it’s his turn to shape future policy with the Five Star Movement party.    

4. Fabio de Masi (Germany/Others)

German-Italian MEP Fabio de Masi (44) was the leading candidate of Sahra Wagenknecht’s Alliance, a newly formed party put together by former members of Die Linke.   

He (and his party, which won six seats) will be another to watch in the next mandate.   

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De Masi is an economist and has some previous experience in the European Parliament, where he was a member until 2017.   

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The economist was a member of the finance committee, as well as vice-chairman of a special committee investigating money laundering and tax evasion, due to his strong credentials in the fight against corruption.  

During his time in the German parliament (2017-2021), he headed an investigation into the collapse of German payments company Wirecard.    

5. Sérgio Gonçalves (Portugal/S&D)

In March Portugal went to the polls and saw a change of regime after eight years of Socialist-led government headed by Antonio Costa.   

A coalition of conservative forces won the national elections and the Portuguese Socialist Party decided to change its strategy for the EU elections.

Gonçalves, 45, is part of that new generation of Portuguese Socialists in Brussels and Strasbourg, with eight members – only one fewer than the last mandate.  

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From 2022 to 2023, he led the Portuguese Socialist Party in Madeira.   

Gonçalves has dedicated his professional career to the business sector, holding a degree in economics and a master’s degree in international management.   

MEPs will hold their first parliamentary committee meetings between 22 and 25 July.   

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Israeli Official Describes Secret Government Bid to Cement Control of West Bank

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Israeli judges have long ruled that Israel’s control of the territory is a temporary military occupation and complies with international law. A powerful minister’s recent speech, caught on tape, suggested the government is trying to change that.

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Former Hong Kong residents embrace UK politics amid lingering Beijing fears

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Former Hong Kong residents embrace UK politics amid lingering Beijing fears
  • More than 180,000 Hong Kongers have immigrated to Britain under a special visa program, fleeing political crackdowns in their home country since 2021.
  • Unlike many immigrants, Hong Kongers arrive in Britain with the right to vote.
  • Some Hong Kong immigrants remain concerned about Chinese influence and potential repercussions for their families.

For Richard Wong, 25, who moved to Britain from Hong Kong two years ago, it “feels strange” taking part in a free election, exercising exactly those rights that he once fought for, knowing that his friends back home no longer can.

“Back in Hong Kong we tried so hard to get democracy and then lost it. And I moved here, and we are actually practicing democracy, but in a very different context,” said Wong, who has been knocking on doors as a volunteer for an opposition Labour party candidate in next month’s UK general election.

“I still have friends spending their time in prison and I’m … doing this at the other end of the world.”

HONG KONG LAWMAKERS UNANIMOUSLY PASS CONTROVERSIAL SECURITY LAW, GRANTING GOVERNMENT POWER TO CURB DISSENT

Since 2021, more than 180,000 Hong Kongers have moved to Britain under a special visa program set up in response to a crackdown on dissent in their homeland, a former British colony handed back to Beijing in 1997.

The Hong Kong skyline is seen on Dec. 19, 2018. Since 2021, more than 180,000 Hong Kongers have moved to Britain under a special visa program set up in response to a crackdown on dissent in their homeland, a former British colony handed back to Beijing in 1997. (DALE DE LA REY/AFP via Getty Images)

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China says the crackdown was necessary to restore stability after months of sometimes violent protests in 2019.

When Britain left Hong Kong it offered a limited form of British nationality to residents, which means the Hong Kongers, unlike many newcomers from elsewhere, arrive with the right to vote in the UK.

Britain’s national election next month is the first chance they will have to participate in the central ritual of democracy in their adopted home. Many are passionate about the opportunity.

“I know the power of votes. I think if we have that power we should utilise it,” said Carmen Lau, a campaign coordinator for Vote for Hong Kong 2024, a group rallying Hong Kongers in the UK to participate in the British election.

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Before she moved to Britain, Lau was elected a Hong Kong district councillor in 2019, but later disqualified for refusing to take an oath of loyalty to the territory’s mini constitution.

With relations between Britain and China at a low ebb, amid accusations from London that Beijing had intimidated a foreign national on British soil and counter claims of spying activities, some Hong Kongers are still fearful China’s reach.

Lau said at cultural events many attendees wore masks and avoided cameras because they were afraid their family back in Hong Kong would be harassed.

“The right to vote is precious, and more Hong Kong people are moving to the UK and we’re concerned about China’s control and spies, so there is a need to speak out,” said one Hong Konger in the UK, Kate, 33, who declined to give her full name as she was fearful of reprisals.

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Is Israel’s Smotrich fulfilling his dream of annexing the West Bank?

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Is Israel’s Smotrich fulfilling his dream of annexing the West Bank?

About a month ago, a quiet transfer happened.

The Israeli army’s Civil Administration handed more control over the occupied West Bank to the Settlements Administration, led by far-right Finance Minister Bezalel Smotrich, who lives in an illegal settlement himself.

Now Smotrich and his Settlements Administration control more things, like building regulations and the management of farmland, parks and forests.

Since he entered government, Smotrich has pushed openly for more Israeli settlements in the occupied West Bank – illegal under international law – as steps towards annexation.

So what does this all mean?

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What’s the Settlements Administration?

It was set up back in February 2023, after lots of political wrangling between Smotrich – who is also a minister within the Ministry of Defense – and Yoav Gallant, the defence minister.

There were a lot of details, but the upshot is that the responsibility for monitoring illegal construction in the occupied West Bank came under Smotrich.

Meaning that illegal settlement or outpost construction would be ignored and eventually approved, while Palestinian construction would be subject to intense scrutiny over permits, and often demolished.

[Al Jazeera]

How did Smotrich swing that?

Smotrich and his fellow member of the extreme right, Itamar Ben-Gvir, head a coalition of hard right and ultra-Orthodox parties that have propped up the rule of Israeli Prime Minister Benjamin Netanyahu.

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Using that far-right heft, Smotrich negotiated to essentially take control of Israeli expansion into occupied land.

So what changed this May 29?

The army’s handover on May 29 means pages of bylaws will now be enforced by the Settlements Administration, making illegal settlement expansion even easier.

Did Israel already control the occupied West Bank?

Israel occupied the West Bank in 1967, as well as Gaza and East Jerusalem – the longest military occupation in modern history.

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But, even occupation has rules.

According to international law, the occupying power cannot move its citizens into occupied land. Israel’s Supreme Court confirmed this in 2005.

That did not stop Israelis from building illegal settlements on stolen land. And it did not stop Israeli settlers – supported by security forces sometimes – from attacking Palestinians to force them off even more land.

A Palestinian man sits near a damaged house and damaged cars after Israeli settlers attacked the village of al-Mughayyer, in the Israeli-occupied West Bank, April 13, 2024
Property damaged by Israeli settlers in al-Mughayyer, on April 13, 2024 [Mohammed Torokman/Reuters]

How many Palestinians live in the West Bank?

According to the US government, three million people.

In many cases, families have lived in the same house or on the same farm for centuries.

Traditional farming is a source of pride and identity, with generations dedicating themselves to tending ancestral olive groves and fruit orchards. Some Palestinian tribes are shepherds, traditionally roaming across their lands so their flocks can graze.

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But settler attacks have focused on farmers and shepherds, who tend to live in small, peaceful communities that make easy pickings for armed settlers with the police as their backup.

This pushed many Palestinians to move to towns, working unskilled jobs like construction.

What’s going to happen to them now?

Life will likely get even harder.

On top of sweeping arrest campaigns being stepped up in the occupied West Bank since Israel launched its brutal war on Gaza on October 7, the number of settler attacks to scare families off their land has exploded too.

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More than 500 Palestinians have been killed in attacks in the occupied West Bank.

Restrictions on movement have increased as Israel increased both fixed and mobile checkpoints and settlers have started setting up their own random roadblocks.

This means Palestinians have a much harder time getting to work or keeping their businesses running. Or seeing family, or going for a picnic. Anything, really.

Add to that the increased leniency Smotrich’s Administration is likely to show illegal settlement expansion and the crackdown on any Palestinian construction, the outlook is bleak.

INTERACTIVE -UN-LIST-ILLEGAL-SETTLEMENTS-DEC14-2023-1702556698
[Al Jazeera]

Is this it? Annexation?

Annexing the occupied West Bank to Israel is certainly a dream for Smotrich and his close political ally, National Security Minister Itamar Ben-Gvir.

They see taking over managing the occupation – by essentially commandeering the Civil Administration – as a major step towards that ambition.

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