Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Euro defender Juncker steps down after 8 years  Join our daily free Newsletter

MENAFN - AFP - 20/01/2013

No. of Ratings : 0
Digg This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093600947%26title%3dEuro-defender-Juncker-steps-down-after-8-years%26src%3dRSS Share This Article: http%3a%2f%2fwww.menafn.com%2fmenafn%2fqn_news_story_s.aspx%3fstoryid%3d1093600947%26title%3dEuro-defender-Juncker-steps-down-after-8-years%26src%3dRSS Add to Delicious Seed this article Buzz this article Add to Reddit Add to furl Add to stumbleupon Add to Mixx!


 


(MENAFN - AFP) Respected leader, defender of the euro and the wider European dream, Jean-Claude Juncker steps down this week as head of the eurozone finance ministers group after eight often tumultuous years.

Known for his dry sense of humour and respected for his commitment to the European cause, the Luxembourg prime minister hands over the reins with the eurozone in better shape than many believed possible after the ravages of the debt crisis.

No little part of his success has been his ability to keep everyone on board, reconciling the often sharply differing views of France and Germany, the top two economies in the bloc.

"When I want to speak in French, I think in German; when I want to speak in German, I think in French, with the result that I am totally incomprehensible," he joked typically at one stage.

Alongside the humour, there is also sharp judgement, needed since he was named in 2005 as the first head of the now 17-state eurozone.

He steered the single currency through the global financial crisis in 2007-08 which then morphed into the eurozone debt crisis, proving popular with his colleagues and clearly winning their respect.

In July, however, he insisted wearily it was time to leave but when France and Germany failed to find a compromise candidate, they pressed him to stay on.

Second time around, and having helped put the eurozone on a sounder footing, Juncker announced this month his "irrevocable" decision to quit.

He has not been afraid to be blunt with member states when required and is well known for speaking out when others might not.

He has "two fatal flaws -- he has an opinion and he is not afraid to share it", said one European official.

In a farewell address to the European Parliament this month, Juncker typically did not mince his words, railing against unnamed, rich northern states who had become arrogant, laying down the law to their weaker southern EU partners.

He insisted that countries such as bailed-out Greece were going through real hardship and that their sacrifice should not be played down or dismissed.

Annoyed by one MEP who accused him of spouting platitudes, Juncker shot back: "You will see what platitudes really are in the next few years."

Criticism and setbacks, the incredible strains of the debt crisis which threatened several times to sink the euro, none of this dampened his faith in a federal European state which could be home to all the old continent's traditions and peoples after untold years of conflict and bloodshed.

He was awarded Germany's prestigious Charlemagne Prize in 2006 for his commitment and vision, which he always tempered with a solid dose of realism.

"For me, Europe is about taking a series of concrete steps and strong, perhaps even fervent, convictions," he told German TV recently. "But strong convictions alone are worth nothing if you can't be pragmatic too."

Juncker was born December 9, 1954 in a Europe still struggling to rise from the wreckage of World War II when his father had been press-ganged into the German army.

His father was a strong influence, not least for his experiences as a metal worker and union member. A smoker, Juncker appreciates the finer things in life -- good cognac, certainly -- and holds firmly to the political right but he is suspicious of its simple prescription that free market economics can solve all problems.

He told MEPs that the social dimension -- "the poor relation in the union" -- should not be forgotten, with the strong having to do more than the weak.

"Juncker, he is the most Socialist Christian-Democrat there is," said MEP Daniel Cohn-Bendit, leader of the Greens.

Juncker first joined the Luxembourg government in 1982 and has been at the top table ever since, serving as premier from 1995 -- an office he says he hopes to keep for a while.

It is clear he has no plans to leave quietly.

"Now I will be a free man and I can express my own views ... you will hear from me!" he said after his address to Parliament.


 






  MENA News Headlines
May 24 2013Stalin police criticism sparks anti-Semitism row in Russia ,AFP
(MENAFN - AFP) An explosive comparison made by a liberal Russian politician between Stalin's agents and Hitler's secret police has provoked a storm of abusive criticism in Russia that has been ...

May 24 2013Hitler's shadow looms over anniversary of VW hometown ,AFP
(MENAFN - AFP) Europe's number one carmaker Volkswagen is not keen on celebrating the 75th birthday of its German hometown of Wolfsburg on Sunday because of the long shadow cast by Adolf Hitler ...

May 24 2013Fashion brands say street crime threatens Paris tourism ,AFP
(MENAFN - AFP) The streets of Paris are getting a reputation of being unsafe for tourists and this is a threat to business by the great brand names of French fashion, a top body representing the ...

May 24 2013Journalism on verge 'of extinction' in DR Congo: media NGO ,AFP
(MENAFN - AFP) Journalists' lives are in danger and they are being prevented from reporting freely in areas of eastern Democratic Republic of Congo that are controlled by armed M23 rebels, the NGO ...

May 24 2013Air China orders 100 Airbus A320 jets worth $8.8 bn ,AFP
(MENAFN - AFP) Air China said on Friday it had ordered 100 Airbus A320 series medium-range single-aisle passenger jets, which carry a catalogue price of $8.8 billion (6.8 billion euros). Air China ...

May 24 2013Landmark Swiss-China trade deal on horizon in July ,AFP
(MENAFN - AFP) Switzerland and China could sign a landmark free-trade agreement as early as July, the Alpine country said Friday, as Beijing seeks to underscore its growing global ties via deals ...

May 24 2013China's Catholics show fervour in Shanghai celebration ,AFP
(MENAFN - AFP) Thousands of Chinese Catholics gathered in Shanghai on Friday for a celebration to honour the Virgin Mary, in a show of religious fervour permitted by the Communist-ruled ...

May 24 2013Ivorian student anger over university revamp ,AFP
(MENAFN - AFP) Last year's reopening of Ivory Coast's universities was a grand affair, turning the page on a bloody leadership crisis that had forced their closure with new lecture halls, added ...

May 24 2013News Corp approves split into two firms June 28 ,AFP
(MENAFN - AFP) News Corp said Friday its board approved the breakup of the media-entertainment conglomerate headed by Rupert Murdoch into two separate companies, to be effective June 28. Murdoch ...

May 24 2013Default should be option for eurozone nations: Bundesbank ,AFP
(MENAFN - AFP) The head of the German central Bundesbank Jens Weidmann said on Friday that eurozone countries should be able to default, a possibility which the EU has gone to great lengths to ...

more...


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help