Nick Clegg to hail 'earlier generations' at award of Nobel peace prize to EU

Deputy prime minister to attend ceremony in Oslo after David Cameron decided to turn down opportunity

Nick Clegg will hail the sacrifices of earlier generations for helping to create an unprecedented period of peace in Europe when he represents Britain next week as the Nobel peace prize is awarded to the EU.

The deputy prime minister will attend the ceremony in Oslo after David Cameron decided in October to turn down the opportunity to rub shoulders with the leaders of France and Germany days before an EU summit.

Clegg will describe the award as a "tribute to the people, not the institution" when he attends the ceremony in Oslo next Monday at which the prize will be awarded to the three presidents of the EU: the commission president, José Manuel Barroso; the council president, Herman Van Rompuy; and the parliament president, Martin Schulz.

The leaders of the other three main EU powers in addition to Britain – Angela Merkel of Germany, François Hollande of France and Mario Monti – will all be in attendance. Clegg is expected to hold talks with some, if not all, of the leaders to lobby on behalf of the City of London ahead of the next European summit which will take place three days after the Nobel ceremony.

Cameron indicated his unease at the prize, awarded as the EU grapples with the eurozone crisis, when he said that Nato had also helped keep the peace in Europe. Speaking after an EU summit in October, he said: "I think three of the possible five European presidents are going to Oslo ... I personally won't be going but I am sure there will be enough people to collect the prize."

Clegg will tread a careful line when he attends the ceremony at which the EU will be hailed for its role in making war in Europe "unthinkable". Amid fears that the ceremony could fuel criticisms that the EU is elite and out of touch at a time when Greeks are struggling in the face of austerity measures imposed as the price of support from the eurozone and the IMF, Clegg will focus on people rather than institutions.

A source close to Clegg said: "For centuries, the idea of Europe and peace was a contradiction in terms. The fact that we have not been to war with our European neighbours for nearly 70 years now is a testament to the sacrifices of the generations that have gone before us and the hard work since.

"Nick sees this prize as a tribute to the people, not the institution. Coming from a family that has been bought together in Britain after suffering the horrors of both world wars in different parts of the globe, this has particular resonance for him. His family's history is intertwined with that of the process of peace in Europe.

"Nick Clegg will also be taking the opportunity to have a series of high-level conversations with other European leaders about the most pressing issues on the agenda, including banking reform and the EU budget."

• Nick Clegg
• Nobel peace prize

Nicholas Watt

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History Shows Why Germany Should Help Greece

Business Insider

History Shows Why Germany Should Help Greece Bloomberg Germany's Chancellor Angela Merkel has at last opened the door to the possibility of writing off Greek debts, but only several years from now. As they decide on the right thing to do, Germans should take a close look at their own history. As Merkel ... Merkel: Greece may have debts written offThe Australian Financial Review Greece Is Staging A Huge Rally, As Angela Merkel Hints At A GamechangerBusiness Insider German chancellor Merkel does not rule out forgiving some of Greece's debt ...Macleans.ca Caymanian Compass all 555 news articles »

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Ex-Greek PM's mother linked to $550m Swiss account

Furore over allegations in Greek press that Margaret Papandreou is on list of those who stockpiled fortunes overseas

Greece's civil war over naming and shaming suspected tax evaders intensified following the claim by police that former prime minister George Papandreou's octogenarian mother was behind a Swiss bank account of mutual funds worth $550m (£342m).

Allegations that US-born Margaret Papandreou was on the so-called "Lagarde list", identifying Greeks who had stockpiled fortunes in Switzerland, provoked uproar after two popular newspapers published the claims on Sunday.

Citing high-level officials at the crisis-hit country's financial crime squad, SDOE, the two weeklies, To Vima and Proto Thema, named Papandreou as the primary beneficiary of one of the biggest accounts on the list of more than 2,000 wealthy Greeks with deposits in the Geneva branch of HSBC. The American issued a vehement denial. "Why such lies? Why such attacks? Is it because my family never served this country's interest groups?" she asked.

As the furore deepened, Papandreou, who had four children, including George, with the late socialist prime minister Andrea Papandreou, received support from an unexpected corner. The editor of the magazine Hot Doc that sent shockwaves through Greece by publishing the list in October, rushed to her defence, brushing off the allegation as a dirty tactic by media barons bent on settling old scores.

"The whole story is the product of rumour," he said. "It's a very dirty game. Instead of investigating who is on the list, which has sat in the office drawers of ministers for over two years, scenarios are now being created as to what names are behind the names on the list. The truth of the matter is that there are hundreds of offshore companies also on the list which should be looked into. This is about the press settling accounts. Margaret Papandreou is a victim."

The bank account to which Papandreou was allegedly linked is in the name of the "private employee" Maria Pandeli.

According to To Vima, Nikolaos Lekkas, the director of inspections at SDOE, raised the issue of the 89-year-old's involvement in the account at a meeting attended by other senior inspectors in October. The information was passed in testimony to prosecutors compiling a parliamentary report into the handling of the list by two senior SDOE officials, including its chief director Stelios Stassinopoulos.

Lekkas had reportedly told colleagues that "behind the biggest account on the list is Mrs Margaret Papandreou". But in a statement to Hot Doc he denied the claim: "I never named people who are supposedly referred to, or involved, in any way with the aforesaid list."

George Papandreou, who navigated Greece through the worst of its debt woes after the economic crisis erupted within months of his socialist government assuming power in late 2009, angrily slammed the allegations as part of a concerted campaign to besmirch the efforts he had made to rid the country of corruption. The socialist premier's attempts to clean up public life included loosening ties between politicians and the media. Both stories were "rumours without facts" said the politician, who stepped down as prime minister and leader of the Pasok party last year.

As the recession-plagued country's plight has gone from bad to worse with austerity-whipped Greeks ever more angry with their lot, demands for punishment to be meted out have also got louder. No person is more associated with Greece's economic collapse than Papandreou, the first eurozone prime minister to seek international assistance from the IMF and other EU member states when it became clear Greece was heading for bankruptcy.

"People want scapegoats and he is a very easy one," said a well-placed source who requested anonymity because of the uproar the scandal has caused. "I firmly believe he handled the crisis badly, but I do not for a moment believe this story about his mother being on the list. The owners of newspapers like To Vima are furious with Papandreou for blocking their attempts to get loans from the Bank of Greece."

This is not the first time that the Papandreou clan has been hit by scandal. The former prime minister's brother, Nikos, hit the headlines earlier this year when it was revealed the younger Papandreou, a writer by profession, was paying €6000 a month to live in lavish quarters with a swimming pool, Filipino maid and Porsche car.

• Greece
• Tax avoidance
• Europe
• Switzerland

Helena Smith

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Bonds down on Spain, Greece news

Telegraph.co.uk

Bonds down on Spain, Greece news Sydney Morning Herald Australian bond futures prices are lower due to optimism caused by a banking sector bailout announced in Spain and a plan by Greece to buy back government securities. At 0830 AEDT on Tuesday, the December 10-year bond futures contract was at 96.900 ... Stock Futures Rise Ahead of ISM DataTheStreet.com Merkel no longer discards losses on Greek debtFXstreet.com all 66 news articles »

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Greece Announces Terms of Bond Buyback to Slash Debt

Wall Street Journal

Greece Announces Terms of Bond Buyback to Slash Debt New York Times A successful buyback is critical for Greece. The International Monetary Fund has said that it will lend more money to Greece only if it is reasonably able to show that it is on target to achieve a ratio of debt to annual gross domestic product of less ... Greece Offers to Buy Back DebtWall Street Journal Greece launches bond buyback in effort to cut national debtWashington Post Greece Offers 10 Billion-Euro Debt Buyback Key to Securing AidBloomberg Chicago Tribune -NEWS.com.au (blog) -The Seattle Times all 690 news articles »

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Greece Offers 10 Billion-Euro Debt Buyback to Unlock Aid

Greece Offers 10 Billion-Euro Debt Buyback to Unlock Aid Businessweek Greece offered 10 billion euros ($13 billion) to buy back bonds issued earlier this year as the bailed-out nation attempts to cut a debt load that may threaten future international aid. Greek bonds rallied after the so-called modified Dutch auction was ...

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Playing without pressure in Greece

ESPN (blog)

Playing without pressure in Greece ESPN (blog) The Champions League trip to Olympiakos Tuesday arguably comes at a good time for Arsenal. There is no time to dwell on the non-performance in the 2-0 loss to Swansea, and the match gives fatigued first-teamers a chance for much-needed rest. and more »

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