EU prepares for 'new stage' in economic union | EurActiv

A great public display of disagreement between the French (Eurobonds now) and German (Eurobonds only after fiscal union) positions is the result of the summit held on May 23. But while they are far apart, both France and Germany want further, deeper integration. The seem to be arguing over the chronology, not the direction.

From EurActiv.com's report of the summit:

The European Central Bank's President Mario Draghi was on the same page. Issuing jointly backed European debt would not make sense until the euro zone reaches some kind of fiscal union, he said after the EU leaders meeting. 

"Euro bonds make sense when you have a fiscal union, otherwise they don't make sense," Draghi told reporters in Brussels. 

Asked later by EurActiv if some kind of central EU finance ministry would be considered, Van Rompuy did not dismiss the idea but said it was just one among a number of options being discussed.

And the German position:

Germany’s European Central Bank executive board member, Jörg Asmussen, said ahead of the summit that the euro zone should be backed by “a fiscal union and banking union as well as a democratic legitimised political union”.

EU prepares for 'new stage' in economic union | EurActiv

For you to read while I'm grading...

Grading, grading... but here are what seems like two good reads (I literally have not had time to read them the whole way through, so you tell me if they're worth it!):

The Economist on the EU's choice: break up or move toward what will start to smell like a federation. I made a similar point last July in an interview in Metro. This is, no doubt, a massive crisis for the EU, but US media tends to underestimate the significance of the fact that European integration proceeds in this fashion. Periods of stagnation and/or intense crises, which can only be averted by further integration, are typically followed by just that: further integration.

And this perspective on the improving prospects for Turkey-EU relations.

The TurkEU Blog shall resurface once grades are turned in.

Turkey ramps up pace of EU bid after French polls | Hürriyet

From Hürriyet Daily News:

Hollande’s victory over Nicolas Sarkozy, an avowed opponent of Turkey’s EU membership bid, has led to cautious optimism in Ankara that France may now unblock several chapters in the accession talks, which have been at a standstill since 2010. EU Enlargement Commissioner Stefan Füle will be in Turkey tomorrow to discuss the so-called “positive agenda” between Ankara and Brussels. 

POLITICS - Turkey ramps up pace of EU bid after French polls

On my way to Istanbul

Visiting in Istanbul for a few days (writing this on my phone at Arlanda Airport). It has been too long since I was there so I'm greatly looking forward to the trip. There won't be too much time for leisure but I'm hoping to at least catch up with some friends and have a cup of kahve at Istiklal Caddesi.