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IMF says Western sanctions could cut 9% off Russia's GDP; Italy counts 90,000 sea migrant arrivals so far this year; Standard &...

IMF says Western sanctions could cut 9% off Russia's GDP; Italy counts 90,000 sea migrant arrivals so far this year; Standard &...
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04-Aug-2015
 

Daily Update

 

Highlights

IMF says Western sanctions could cut 9% off Russia's GDP

Sanctions linked to the Ukraine crisis could end up costing Russia 9% of its gross domestic product, the International Monetary Fund said on Monday.

Italy counts 90,000 sea migrant arrivals so far this year

taly's coast guard said about 1,800 migrants were rescued from seven overcrowded vessels over the weekend (2 August), while five corpses were found on a large rubber boat carrying 212 others.

Standard & Poor’s lowers outlook on the EU to negative

Standard & Poor's has changed the outlook for the European Union from stable to negative after the bloc's support for Greece and following Britain's decision to vote on leaving the EU, S&P reported Monday (3 August).

Recent News

After five-week shut down, Greek shares plummet

Greece's stock market suffered heavy losses on Monday (3 August), plunging nearly 23% at the open before recovering slightly, after a five-week shutdown brought on by fears the country was about to be dumped from the euro zone. One fund manager described it as "herd behaviour" and said few people were buying.

Poland's ruling party risks defeat as economic miracle disappoints

In the past few years the Polish city of Rybnik has acquired a new shopping mall and its tenement blocks have been spruced up with European money, yet residents are no longer prepared to give their government credit for the changes.

Germany sees immigration boom while native population declines

More than 20% of Germany’s population has a migrant background. Migrants are almost twice as likely to have a university education as the average German.

Interviews

Fleckenstein MEP: ‘Parliamentarians should be removed from EU-Russia sanctions lists’

It is the duty of parliamentarians to contribute to re-opening the dialogue between the EU and Russia, argues Knut Fleckenstein, saying it was “a serious mistake” to block the Russian State Duma speaker from entering Finland.

Ignacio Molina: Catalan separatists will never gain EU support

Many of the most radical Catalan separatists believe the autonomous elections on 27 September 27 this year will open the door to the question of secession from Spain. Researcher Ignacio Molina believes this is a dangerous idea.

AFD founder: 'Schäuble’s Greece policy is pure marketing'

German Finance Minister Wolfgang Schäuble’s latest plans for a euro tax have solidified the prospect of a transfer union, says Eurosceptic Bernd Lucke in an interview with EurActiv Germany . The founder of the Eurosceptic Alternative for Germany (AfD) party, argues that all the “talk about a Grexit” is just a bluff.

LinksDossiers

CAP: Still a work in progress

In June 2013, politicians approved the first major reform of the Common Agricultural Policy (CAP) in a decade, following months of haggling over quotas, subsidies and measures to improve environmental accountability.

Opinion / Analysis

Global economic integration at all costs?

The political and economic implications of mega-regional free trade agreements deserves more open discussion by all stakeholders, argue Axel Berger and Dominique Bruhn.

Better Regulation: expertise over politics?

As the Commission makes a bid for greater democratic legitimacy, it must take care not to allow its technocratic tendencies to sideline the EU’s elected institutions, argue Charles de Marcilly and Matthias Touillon.

Europe needs bridges between national media, here is how

How to reconcile Greek and German public opinions, or reform the Eurozone, without building bridges between national media? David Mekkaoui and Christophe Leclercq explain why they think this is necessary and possible.

A Greek Versailles?

Former Greek Finance Minister Yanis Varoufakis denounced the July bailout agreed between prime minister Alexis Tsipras and the eurozone leaders as a “new Versailles Treaty”. Quincy Cloet asks if this is a fair comparison.

EU should learn from Australia on drug approval process

Europe’s drug approval process is overly bureaucratic, stifles innovation and hinders patient access to life saving medicine. Reform is needed; Australia is leading the way.

Infographics

INFOGRAPHIC: Curbing illicit financial flows is a resource for Africa

Over the last 50 years, Africa is estimated to have lost in excess of $1 trillion in illicit financial flows (IFFs). This sum is roughly equivalent to all of the official development assistance (ODA) received by Africa during the same timeframe. Currently, Africa is estimated to be losing more than $50 billion annually in IFFs.

Ten tips for a successful Capital Markets Union

The European Union plan for a Capital Markets Union can help unlock the latent potential in financial markets. The banking industry is ready to support this proposal.

INFOGRAPHIC: Musical Chairs at the Commission

All of the changes in the European Commission reshuffle. Jonathan Faull, the European Union’s top civil servant for financial services regulation, will head up an EU executive “Brexit” taskforce dedicated to the United Kingdom’s referendum on its membership in the bloc.

Videos

BlogActiv

Britain after Brexit


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