The European Central Bank on Wednesday announced a surprise 750-billion-euro scheme to purchase government and corporate bonds, as it joined other central banks in stepping up efforts to contain the economic damage from the coronavirus. AFP.
The European Central Bank on Wednesday announced a surprise 750-billion-euro scheme to purchase government and corporate bonds, as it joined other central banks in stepping up efforts to contain the economic damage from the coronavirus. AFP.
The European Central Bank on Wednesday announced a surprise 750-billion-euro scheme to purchase government and corporate bonds, as it joined other central banks in stepping up efforts to contain the e
In Albert Camus' novel The Plague, the narrator, a doctor, describes the determined, almost surreal air of normality that prevails even as the full force of an epidemic is about to hit the Algerian town of Oran. "Our townsfolk were like everybody else, wrapped up in themselves," he says. "How should they have given a thought to anything like plague, which rules out any future, cancels journeys, silences the exchange of views. They fancied themselves free, and no one will ever be free so long as there are pestilences".
Something similar might be discerned in political terms in the seemingly heedless approach to that grand, historically unprecedented project called the European Union. Even as Europe became the "epicentre" of the coronavirus pandemic, according to the World Health Organisation, the EU has continued to wrangle over matters big and small.
President of European Commission, Ursula Von der Leyen, gives a press conference after EU leaders' video conference on COVID-19, caused by the novel coronavirus, at the European Council building in Brussels AFP
Last week, for instance, the bloc was arguing over making changes appropriate for the age of coronavirus to the rules of procedure for meetings of the European Council. The Council comprises the heads of government of the 27 member states and the issue was about virtual meetings. Might videoconferencing give the impression the EU is shutting down?
Such apparently frivolous concerns cannot hide the serious ways in which the pandemic is testing European solidarity. It has already led to the closure of national borders within the EU and even within the Schengen area of supposedly free travel.
According to one senior diplomat, the coronavirus crisis has exposed the EU's basic faultline: the absence of trust
Although the border closures are meant to apply to people rather than goods, health checks at some crossings are causing massive delays to land-based freight, thereby calling into question the EU’s boast of a seamless market worth 3 trillion euros ($3.3 trillion) of annual trade inside the bloc.
But the pandemic is doing more than cast doubt on the most binding principle of the continent’s post-WWII integration project – freedom of movement. Intra-European solidarity is also being sickened by unilateralism, uncooperativeness and uncoordinated decisions by member states.
Soon after Italy raised the alarm about the surging coronavirus infection within its borders, particularly within the rich northern industrial region of Lombardy, it tried to invoke an EU mechanism to share medical supplies. But no EU member state offered to help and Germany actually went so far as to ban the export of medical masks and other protective gear.
Berlin’s restrictions were later relaxed but it says something about the sour mood of suspicion that Italian foreign minister Luigi Di Maio has been showering hosannas on China rather than on the European community. Hailing the speedy arrival in Italy of medical equipment and Chinese doctors, Mr Di Maio said: "We are not alone, there are people in the world who want to help Italy”. Add to that the fulminations of Aleksandar Vucic, President of Serbia, a country which has been trying desperately to join the EU. Heaping praise upon China for its support as it battles the coronavirus, Mr Vucic contrasted China’s concrete steps with the “fairy tale” of solidarity from Europe.
An Uber Eats delivery man stands by the Spanish Steps at a deserted Piazza di Spagna in central Rome on March 12, 2020, as Italy shut all stores except for pharmacies and food shops to halt the spread of Covid-19. AFP
And finally, there was last week’s emergency move by the European Central Bank to launch the mass Pandemic Emergency Purchase Programme (PEPP) of bond-buying. While this is seen as a timely attempt to avert a deeper financial crisis, it has also brought to the fore old divisions within the 19-member common currency eurozone.
France and Italy want the bloc’s bailout fund to offer credit lines and issue joint “coronabonds”, but Germany and the Netherlands lead the naysayers, who warn against a rush to unprecedented risk-sharing. According to one senior diplomat, the coronavirus crisis has exposed the EU’s basic faultline: the absence of trust.
That is a harsh judgement but long-time observers of the European project point to several similar indicators of brittleness. Heather Conley, director of the Europe Programme at the Centre for Strategic and International Studies in Washington and a former deputy assistant secretary of state for European Affairs in the George W Bush administration, says: “there is growing realisation that European solidarity is a rhetorical rather than a material concept”. She points to the EU’s repeated failure to live up to the principle of solidarity. Even though it is enshrined in EU treaties and the EU refers to solidarity as one of its goals, “solidarity seems to mean little at the moment of crisis and national requirements”, says Ms Conley.
This is depressingly true, at least with respect to two significant recent events in the European bloc’s history. During the 2015 Syrian refugee crisis, individual EU member states such as Hungary and Austria closed their borders and remained stubbornly leery of attempts to reform the asylum system. Europe has still not managed to share the burden of migrants evenly, in order to prevent the southern states from being overwhelmed.
The long-running Greek debt crisis also came to a head in 2015, with harsh measures imposed on Athens in exchange for a bailout. It would be fair to say it tested the notion of European goodwill, the 'whatever it takes' promise that must necessarily underpin cross-border collaborative ventures.
Accordingly, as the unprecedented coronavirus crisis takes its toll, the pessimists say that the lack of a coordinated European response shows the inherent failings of a project that depends upon fraternal spirit and allegiance to succeed. They have a point. That said, there is also the possibility that the PEPP bond-buying will somehow work to bind wounds after all the hard words and hard feelings of the pandemic period. It could yet happen, if PEPP is used to generate the funds sought by EU member states (including by Italy, the eurozone’s third-largest economy) on condition that the money is exclusively used for Covid-19.
Cataclysmic events often rejig the course of history, changing the pace of developments that might have happened anyway. The pandemic may be such an event for Europe's future, for good or ill.
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
UAE squad
Ali Kashief, Salem Rashid, Khalifa Al Hammadi, Khalfan Mubarak, Ali Mabkhout, Omar Abdelrahman, Mohammed Al Attas (Al Jazira), Mohmmed Al Shamsi, Hamdan Al Kamali, Mohammad Barghash, Khalil Al Hammadi (Al Wahda), Khalid Eisa, Mohammed Shakir, Ahmed Barman, Bandar Al Ahbabi (Al Ain), Adel Al Hosani, Al Hassan Saleh, Majid Suroor (Sharjah), Waleed Abbas, Ismail Al Hammadi, Ahmed Khalil (Shabab Al Ahli Dubai) Habib Fardan, Tariq Ahmed, Mohammed Al Akbari (Al Nasr), Ali Saleh, Ali Salmeen (Al Wasl), Hassan Al Mahrami (Baniyas)
Desert Warrior
Starring: Anthony Mackie, Aiysha Hart, Ben Kingsley
Director: Rupert Wyatt
Rating: 3/5
Ms Yang's top tips for parents new to the UAE
Join parent networks
Look beyond school fees
Keep an open mind
Timeline
2012-2015
The company offers payments/bribes to win key contracts in the Middle East
May 2017
The UK SFO officially opens investigation into Petrofac’s use of agents, corruption, and potential bribery to secure contracts
September 2021
Petrofac pleads guilty to seven counts of failing to prevent bribery under the UK Bribery Act
October 2021
Court fines Petrofac £77 million for bribery. Former executive receives a two-year suspended sentence
December 2024
Petrofac enters into comprehensive restructuring to strengthen the financial position of the group
May 2025
The High Court of England and Wales approves the company’s restructuring plan
July 2025
The Court of Appeal issues a judgment challenging parts of the restructuring plan
August 2025
Petrofac issues a business update to execute the restructuring and confirms it will appeal the Court of Appeal decision
October 2025
Petrofac loses a major TenneT offshore wind contract worth €13 billion. Holding company files for administration in the UK. Petrofac delisted from the London Stock Exchange
November 2025
180 Petrofac employees laid off in the UAE
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), EsekaiaDranibota (Harlequins), Matt Mills (Exiles), JaenBotes (Exiles), KristianStinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), EmosiVacanau (Harlequins), NikoVolavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), ThinusSteyn (Exiles)
Sunday, January 20
3pm: Jordan v Vietnam at Al Maktoum Stadium, Dubai
6pm: Thailand v China at Hazza bin Zayed Stadium, Al Ain
9pm: Iran v Oman at Mohamed bin Zayed Stadium, Abu Dhabi
Monday, January 21
3pm: Japan v Saudi Arabia at Sharjah Stadium
6pm: Australia v Uzbekistan at Khalifa bin Zayed Stadium, Al Ain
9pm: UAE v Kyrgyzstan at Zayed Sports City Stadium, Abu Dhabi
Tuesday, January 22
5pm: South Korea v Bahrain at Rashid Stadium, Dubai
8pm: Qatar v Iraq at Al Nahyan Stadium, Abu Dhabi
Predicted winners for final round of games before play-offs:
Friday: Delhi v Chennai - Chennai
Saturday: Rajasthan v Bangalore - Bangalore
Saturday: Hyderabad v Kolkata - Hyderabad
Sunday: Delhi v Mumbai - Mumbai
Sunday - Chennai v Punjab - Chennai
Final top-four (who will make play-offs): Chennai, Hyderabad, Mumbai and Bangalore
hall of shame
SUNDERLAND 2002-03
No one has ended a Premier League season quite like Sunderland. They lost each of their final 15 games, taking no points after January. They ended up with 19 in total, sacking managers Peter Reid and Howard Wilkinson and losing 3-1 to Charlton when they scored three own goals in eight minutes.
SUNDERLAND 2005-06
Until Derby came along, Sunderland’s total of 15 points was the Premier League’s record low. They made it until May and their final home game before winning at the Stadium of Light while they lost a joint record 29 of their 38 league games.
HUDDERSFIELD 2018-19
Joined Derby as the only team to be relegated in March. No striker scored until January, while only two players got more assists than goalkeeper Jonas Lossl. The mid-season appointment Jan Siewert was to end his time as Huddersfield manager with a 5.3 per cent win rate.
ASTON VILLA 2015-16
Perhaps the most inexplicably bad season, considering they signed Idrissa Gueye and Adama Traore and still only got 17 points. Villa won their first league game, but none of the next 19. They ended an abominable campaign by taking one point from the last 39 available.
FULHAM 2018-19
Terrible in different ways. Fulham’s total of 26 points is not among the lowest ever but they contrived to get relegated after spending over £100 million (Dh457m) in the transfer market. Much of it went on defenders but they only kept two clean sheets in their first 33 games.