IBOV 177,547.57 ▲ 2.44% IPSA 11,009.22 ▲ 0.50% IPC MEX 67,298.78 ▲ 0.88% MERVAL 3,379,771 — 0.00% COLCAP 2,297.00 ▼ 0.19% BVL PERÚ 57,575.02 — — USD/BRL5.06▲ 0.04% USD/MXN17.44▲ 0.27% USD/CLP937.27▲ 0.18% USD/COP3,204▼ 0.73% USD/PEN3.39▼ 0.30% USD/ARS1,482▲ 0.30% USD/UYU40.14▲ 1.07% USD/PYG6,035▲ 1.50% USD/BOB10.95▲ 3.79% USD/DOP57.92▼ 0.14% USD/CRC447.42▲ 1.35% USD/GTQ7.62▲ 2.27% USD/HNL26.74▲ 1.52% USD/NIO36.62▲ 0.31% USD/VES736.04▼ 0.04% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.49▲ 0.36% USD/TTD6.71▲ 0.76% EUR/BRL5.77▼ 0.51% BRENT 92.79 ▼ 1.36% WTI 90.32 ▲ 4.02% IRON ORE 161.91 — — COPPER 6.48 ▲ 0.42% GOLD 4,097 ▼ 1.20% SILVER 59.11 ▼ 1.52% SOY 1,244 ▲ 0.87% CORN 488.75 ▲ 5.79% WHEAT 705.75 — 0.00% COFFEE 316.55 ▼ 0.03% SUGAR 14.82 ▲ 0.54% ORANGE JUICE 147.50 ▲ 2.57% COTTON 81.64 ▲ 2.22% COCOA 5,345 ▲ 0.32% BEEF 219.20 ▼ 3.30% CATTLE 336.15 ▼ 3.83% LITHIUM 69.00 ▼ 0.12% PETR4 42.58 ▲ 2.21% VALE3 75.10 ▲ 3.96% ITUB4 42.90 ▲ 0.87% BBDC4 18.97 ▲ 2.26% ABEV3 16.13 ▲ 2.09% BBAS3 21.09 ▲ 1.01% B3SA3 15.90 ▲ 4.81% WEGE3 46.74 ▲ 10.05% PRIO3 59.77 ▲ 2.73% SUZB3 42.66 ▲ 2.47% RENT3 37.14 ▲ 1.61% AZZA3 17.81 ▲ 1.89% CSAN3 3.92 ▲ 3.70% RAIZ4 0.27 — 0.00% PCAR3 2.75 ▲ 0.73% GMAT3 3.91 ▲ 2.09% PSSA3 55.45 ▲ 3.68% CVCB3 1.27 ▲ 13.39% POSI3 3.70 ▲ 0.54% SLCE3 13.96 ▲ 1.53% NATU3 8.68 ▼ 0.34% BRKM5 6.07 ▲ 6.30% RANI3 8.00 ▲ 1.39% CSNA3 5.38 ▲ 6.32% CMIN3 5.84 ▲ 4.66% USIM5 8.65 ▲ 2.25% GGBR4 24.06 ▲ 2.43% ENEV3 25.97 ▲ 2.16% CPFE3 46.71 ▲ 0.67% CMIG4 11.21 ▲ 1.72% EQTL3 39.35 ▲ 1.34% LREN3 13.54 ▲ 2.03% VIVT3 35.38 ▼ 1.17% RAIL3 13.64 ▲ 3.02% KLABIN 17.93 ▲ 1.93% RAIA DROGASIL 18.29 ▲ 0.88% RDOR3 34.49 ▲ 1.68% HAPV3 11.39 ▲ 1.33% FLRY3 16.65 ▲ 0.60% SMTO3 16.05 ▲ 3.02% UGPA3 32.83 ▲ 3.17% VBBR3 34.98 ▲ 3.03% BBSE3 42.58 ▲ 2.48% BPAC11 57.02 ▲ 2.98% CURY3 30.20 ▲ 0.83% AERI3 2.05 ▲ 0.49% VIVARA 21.55 ▲ 0.65% COMPASS 24.81 ▲ 1.51% VAMOS 3.23 ▲ 4.53% SANB11 26.95 ▼ 0.96% ASAI3 8.40 ▲ 1.82% SBSP3 29.29 ▲ 2.41% WALMEX 48.65 ▼ 1.02% GMEXICO 214.34 ▲ 2.57% FEMSA 227.98 ▲ 0.55% CEMEX 22.17 ▲ 0.45% GFNORTE 191.99 ▲ 3.33% BIMBO 60.30 ▲ 1.53% TELEVISA 9.82 ▲ 0.61% AMX 22.70 ▼ 0.26% GAP 378.40 ▼ 0.03% ASUR 273.53 ▼ 0.52% OMA 229.62 ▲ 1.49% KOF 182.55 ▲ 1.15% GRUMA 280.45 ▼ 0.76% KIMBER 38.85 ▲ 1.17% SQM-B 65,055 ▲ 0.80% COPEC 6,550 ▲ 1.55% BSANTANDER 79.85 ▲ 1.06% FALABELLA 6,042 ▲ 2.08% ENELAM 84.53 — 0.00% CENCOSUD 2,010 ▼ 0.89% CMPC 1,070 ▼ 1.28% BANCO CHILE 193.50 ▲ 1.84% LATAM AIR 24.09 ▼ 0.45% YPF 82,500 ▲ 2.33% GGAL 8,275 ▲ 3.89% PAMPA 5,625 ▲ 2.74% TXAR 668.50 ▼ 1.55% ALUAR 974.00 ▲ 0.10% TGS 9,905 ▲ 2.01% CEPU 2,411 ▲ 3.03% MIRGOR 16,925 ▲ 0.89% COME 43.14 ▲ 0.63% LOMA NEGRA 3,823 ▲ 6.03% BYMA 295.00 ▲ 0.94% TELECOM ARG 4,420 ▲ 3.88% ECOPETROL 16.69 ▲ 0.97% BANCOLOMBIA 84.66 ▲ 1.22% GRUPO AVAL 5.04 ▼ 0.98% CREDICORP 393.43 ▲ 0.60% SOUTHERN COPPER 195.48 ▲ 3.97% BUENAVENTURA 32.09 ▲ 2.69% MERCADOLIBRE 1,799 ▼ 1.29% NUBANK 14.51 ▲ 0.83% XP 17.30 ▲ 2.67% PAGSEGURO 9.67 ▲ 0.94% STONE 11.36 ▲ 0.93% GLOBANT 30.67 ▼ 4.45% TECNOGLASS 45.24 ▲ 0.20% GAP AIRPORT 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1.20% SILVER 59.11 ▼ 1.52% SOY 1,244 ▲ 0.87% CORN 488.75 ▲ 5.79% WHEAT 705.75 — 0.00% COFFEE 316.55 ▼ 0.03% SUGAR 14.82 ▲ 0.54% ORANGE JUICE 147.50 ▲ 2.57% COTTON 81.64 ▲ 2.22% COCOA 5,345 ▲ 0.32% BEEF 219.20 ▼ 3.30% CATTLE 336.15 ▼ 3.83% LITHIUM 69.00 ▼ 0.12% PETR4 42.58 ▲ 2.21% VALE3 75.10 ▲ 3.96% ITUB4 42.90 ▲ 0.87% BBDC4 18.97 ▲ 2.26% ABEV3 16.13 ▲ 2.09% BBAS3 21.09 ▲ 1.01% B3SA3 15.90 ▲ 4.81% WEGE3 46.74 ▲ 10.05% PRIO3 59.77 ▲ 2.73% SUZB3 42.66 ▲ 2.47% RENT3 37.14 ▲ 1.61% AZZA3 17.81 ▲ 1.89% CSAN3 3.92 ▲ 3.70% RAIZ4 0.27 — 0.00% PCAR3 2.75 ▲ 0.73% GMAT3 3.91 ▲ 2.09% PSSA3 55.45 ▲ 3.68% CVCB3 1.27 ▲ 13.39% POSI3 3.70 ▲ 0.54% SLCE3 13.96 ▲ 1.53% NATU3 8.68 ▼ 0.34% BRKM5 6.07 ▲ 6.30% RANI3 8.00 ▲ 1.39% CSNA3 5.38 ▲ 6.32% CMIN3 5.84 ▲ 4.66% USIM5 8.65 ▲ 2.25% GGBR4 24.06 ▲ 2.43% ENEV3 25.97 ▲ 2.16% CPFE3 46.71 ▲ 0.67% CMIG4 11.21 ▲ 1.72% EQTL3 39.35 ▲ 1.34% LREN3 13.54 ▲ 2.03% VIVT3 35.38 ▼ 1.17% RAIL3 13.64 ▲ 3.02% KLABIN 17.93 ▲ 1.93% RAIA DROGASIL 18.29 ▲ 0.88% RDOR3 34.49 ▲ 1.68% HAPV3 11.39 ▲ 1.33% FLRY3 16.65 ▲ 0.60% SMTO3 16.05 ▲ 3.02% UGPA3 32.83 ▲ 3.17% VBBR3 34.98 ▲ 3.03% BBSE3 42.58 ▲ 2.48% BPAC11 57.02 ▲ 2.98% CURY3 30.20 ▲ 0.83% AERI3 2.05 ▲ 0.49% VIVARA 21.55 ▲ 0.65% COMPASS 24.81 ▲ 1.51% VAMOS 3.23 ▲ 4.53% SANB11 26.95 ▼ 0.96% ASAI3 8.40 ▲ 1.82% SBSP3 29.29 ▲ 2.41% WALMEX 48.65 ▼ 1.02% GMEXICO 214.34 ▲ 2.57% FEMSA 227.98 ▲ 0.55% CEMEX 22.17 ▲ 0.45% GFNORTE 191.99 ▲ 3.33% BIMBO 60.30 ▲ 1.53% TELEVISA 9.82 ▲ 0.61% AMX 22.70 ▼ 0.26% GAP 378.40 ▼ 0.03% ASUR 273.53 ▼ 0.52% OMA 229.62 ▲ 1.49% KOF 182.55 ▲ 1.15% GRUMA 280.45 ▼ 0.76% KIMBER 38.85 ▲ 1.17% SQM-B 65,055 ▲ 0.80% COPEC 6,550 ▲ 1.55% BSANTANDER 79.85 ▲ 1.06% FALABELLA 6,042 ▲ 2.08% ENELAM 84.53 — 0.00% CENCOSUD 2,010 ▼ 0.89% CMPC 1,070 ▼ 1.28% BANCO CHILE 193.50 ▲ 1.84% LATAM AIR 24.09 ▼ 0.45% YPF 82,500 ▲ 2.33% GGAL 8,275 ▲ 3.89% PAMPA 5,625 ▲ 2.74% TXAR 668.50 ▼ 1.55% ALUAR 974.00 ▲ 0.10% TGS 9,905 ▲ 2.01% CEPU 2,411 ▲ 3.03% MIRGOR 16,925 ▲ 0.89% COME 43.14 ▲ 0.63% LOMA NEGRA 3,823 ▲ 6.03% BYMA 295.00 ▲ 0.94% TELECOM ARG 4,420 ▲ 3.88% ECOPETROL 16.69 ▲ 0.97% BANCOLOMBIA 84.66 ▲ 1.22% GRUPO AVAL 5.04 ▼ 0.98% CREDICORP 393.43 ▲ 0.60% SOUTHERN COPPER 195.48 ▲ 3.97% BUENAVENTURA 32.09 ▲ 2.69% MERCADOLIBRE 1,799 ▼ 1.29% NUBANK 14.51 ▲ 0.83% XP 17.30 ▲ 2.67% PAGSEGURO 9.67 ▲ 0.94% STONE 11.36 ▲ 0.93% GLOBANT 30.67 ▼ 4.45% TECNOGLASS 45.24 ▲ 0.20% GAP AIRPORT 217.70 ▲ 0.01% ASUR 273.53 ▼ 0.52% OMA AIRPORT 105.35 ▲ 1.07% AMX ADR 26.12 ▲ 0.12% FEMSA ADR 130.96 ▲ 0.47% CEMEX ADR 12.74 ▲ 0.32% PETROBRAS ADR 18.89 ▲ 1.89% VALE ADR 14.85 ▲ 4.21% ITAU ADR 8.48 ▲ 0.95% SANTANDER BR 5.45 ▲ 0.74% AMBEV ADR 3.14 ▲ 0.96% CSN 1.09 ▲ 9.00% GERDAU 4.77 ▲ 2.69% LATAM ADR 51.22 ▼ 0.68% BTC 65,709 ▼ 0.59% ETH 1,927 ▼ 0.32% SOL 77.71 ▼ 0.25% XRP 1.13 ▼ 0.62% BNB 569.74 ▼ 0.18% ADA 0.17 ▲ 0.28% DOGE 0.07 ▼ 0.78% AVAX 6.59 ▼ 0.41% LINK 8.63 ▲ 0.03% DOT 0.82 ▼ 1.58% LTC 46.77 ▼ 0.64% BCH 216.26 ▼ 1.69% TRX 0.33 ▼ 0.20% XLM 0.18 ▼ 1.27% HBAR 0.07 ▲ 1.28% NEAR 1.88 ▲ 0.86% ATOM 1.47 ▼ 0.18% AAVE 96.99 ▼ 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Europe Fights Existential Dispute Against Coronavirus-fed Nationalism

By · April 2, 2020 · 5 min read

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RIO DE JANEIRO, BRAZIL – The coronavirus threatens to hasten the collapse of the international order that emerged in the 20th century and of which the European Union has become the last bastion.

Brussels chose to avert the head-on clash with Trump and preserve what was left of the multilateral order waiting for better times or a new tenant in the White House.
Brussels chose to avert the head-on clash with Trump and preserve what was left of the multilateral order waiting for better times or a new tenant in the White House. (Photo: internet reproduction)
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Authorities from the continental bloc are attempting to strengthen multilateralism with initiatives such as those approved on Tuesday (the first humanitarian aid to Iran and the naval operation to halt the Libyan war), but the widespread closure of borders and the retrenchment of national governments within their borders, including within the EU, have reinforced the unilateral trends fed in the White House by Donald Trump and enthusiastically endorsed from London to Moscow for different reasons.

The EU has hitherto withstood with great difficulty the clashes sparked by the Trump Administration – which, since coming to power in 2017, has managed to cast doubt on NATO‘s future, condemned the World Trade Organization to stagnation, dissociated itself from the global fight against climate change and left the international agreement to prevent Iran’s nuclearization on the brink of collapse.

Brussels chose to avert the head-on clash with Trump and preserve what was left of the multilateral order waiting for better times or a new tenant in the White House. The plan was to reinforce the EU’s own structures, increase the global presence of the euro (stagnant since its birth 20 years ago) and provide the EU club with defensive powers that would reduce political, economic and military dependence on Washington.

But the shock caused by the Covid-19 pandemic surprised the EU without having led, in return, to any significant advance in its path towards geostrategic independence.

The unprecedented health crisis and its feared economic impact also triggered a nationalist reaction in most member states, which raises doubts as to the community club’s ability to jointly and multilaterally address not only the human and social drama that surrounds the Old Continent but also the problems that the continental bloc was already facing.

“We are at a critical moment of European construction,” said French Finance Minister Bruno Le Maire on Tuesday. “Either Europe finds its political direction again and is strengthened, or it forgets its purpose and disappears,” he added.

Shada Islam, director for Europe of the Friends of Europe study center, believes that the global reorganization triggered by the pandemic, in fact, presents an opportunity for the European Union. “Countries like China, Russia, and Turkey do not have the traction needed to lead a new order, and with the US in retreat a void opens up,” she notes.

The European Commission (EU executive) is convinced that this crisis, as previous ones, represents an opportunity to deepen continental integration and strengthen its weight in the world.

“We should not forget that none of the problems we had before the virus disappeared,” warned Josep Borrell, the EU’s foreign policy chief. “Some of these problems are growing and getting worse, and we must continue paying attention to them”, added the Spaniard, announcing the adoption of the naval operation Irini, which aims to halt the interference of Russia and Turkey in the Libyan war.

The Trump Administration has managed to cast doubt on NATO's future, condemned the World Trade Organization to stagnation, dissociated itself from the global fight against climate change and left the international agreement to prevent Iran's nuclearization on the brink of collapse.
The European Union has resumed its territorial expansion plans by giving the go-ahead for the opening of negotiations on the accession of Albania and Northern Macedonia (a country that last week joined NATO). (Photo: internet reproduction)

As a sign of this desire to remain on the global stage, Europe also debuted the Instex system on Tuesday, which, for the first time, allows the US blockade to be evaded and to send humanitarian aid to Iran, a country badly hit by the epidemic.

The European Union has also resumed its territorial expansion plans by giving the go-ahead for the opening of negotiations on the accession of Albania and Northern Macedonia (a country that last week joined NATO).

But the apparently positive signs are overshadowed by the sense of paralysis and powerlessness that the Union offers in the face of an unprecedented health crisis. The frictions of the last European summit on the potential economic response to the crisis in the making are compounded by the sense of helplessness that the countries most affected by the epidemic, such as Italy or Spain, feel in the face of the apparent lack of solidarity of their community members.

The human drama strikes the EU, moreover, at a delicate moment, with the first break in the newly-reduced club (with the departure from the UK on January 31st) and current budgets (2014-2020) about to expire.

The February European summit, the last time European leaders could meet in person, ended with a resounding failure to decide on new accounts (2021-2027), leaving the club under threat to tackle the coronavirus crisis without a final budget or pressed by the need to approve emergency allocations at least for next year.

“The EU tends to focus on its own small issues every time a global challenge arises,” laments Islam. “At the moment, the EU’s response should be an inspiration to other places on the planet, but it is far from being one, because of its internal disputes,” adds the European director of Friends of Europe.

Propaganda war

Brussels believes that the bad image of the European reaction to the Covid-19 pandemic is partly the result of the propaganda war waged between different world powers. “There is a global battle for the report,” commented Josep Borrell, the EU’s top foreign policy representative a few days ago.

Borrell’s department, in its reviews of misinformation campaigns, has already detected some one hundred waves of messages that seek to discredit European administrations and encourage mistrust of continental public opinion. These campaigns seem to be linked to interests related to Moscow, but not exclusively.

China is also pushing its own report, according to an internal Commission document, citing “the admirable work [of Beijing] in containing the coronavirus” and “the gratitude that the West should have for China for its rapid reaction.”

This campaign’s underlying message, according to Brussels, is that the strength of a centralized state like the Chinese “can be an asset” in cases like the epidemic.

Source: El País

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