Since the introduction of the common currency, the 16 member countries, that have presently adopted the Euro, form an informal group within the EU institutional framework where they discuss their specific concerns on monetary and fiscal policies. This has often been very useful. The Lisbon Treaty has therefore formally confirmed the Euro group.
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Politicians have little time to think and therefore often come up with bizarre ideas. One of these is the carbon border tax proposed by President Sarkozy and favoured also by other politicians in Europe.
A carbon border tax is an instrument for protecting European industries against imports of carbon-intensive products like cement, steel, aluminium or heavy [...]

Following in US footsteps the EU has been negotiating a free trade agreement with Korea during the last two years, which is on the point of being finalised. If signed and ratified by both parties it would progressively abolish duties and other import obstacles on a bilateral trade volume of some $ 100 billion within [...]