Despite offering few details on the mechanism linking European Union (EU) funding with the rule of law, the recent deal on the 2021-2027 budget and recovery fund still raises the probability of financial penalties to countries with perceived rule of law deficiencies, most notably Hungary and Poland.… Read the rest
Serbia has launched a controversial investigation into the financing of civil society organizations critical of the government. In Bulgaria, Prime Minister Boyko Borisov is seeking appease continuing public discontent by reshuffling the government and rolling out new economic support measures.… Read the rest
The announcement of the members of the reshuffled government on 6 July did not produce any surprises on the economic front. Finance and Economy Minister Bruno Le Maire has retained his post, and the changes to some of the key portfolios such as home affairs, labor, and the environment suggest a substantial degree of continuity in the policies of President Emmanuel Macron’s administration.… Read the rest
The ruling center-right Croatian Democratic Union (HDZ) achieved a convincing victory in the 5 July general election and is expected to govern alone, relying on the support of national minority MPs and the informal backing from smaller parties.… Read the rest
The Restart Coalition led by the opposition Social Democratic Party (SDP) will likely win the most mandates in the general election scheduled for 5 July, but the ruling Croatian Democratic Union (HDZ) – expected to come in second – has better chances of forming a new coalition government.… Read the rest
- Countries’ labour markets have been hit hard by COVID-19; and the UK more than most
- The UK is a microcosm of effects likely to be seen worldwide
- The young, the poor, women, and some minority groups seem destined to suffer disproportionately
- Immediate and longer-standing inequalities are likely to be exacerbated
- Working habits will change for some and automation will probably get a boost
- Getting policy right, not least labour policies, while potentially crucial, will be difficult
Labour markets worldwide have been hit hard by the measures taken to contain the COVID-19 pandemic; and the hit looks as if it may be particularly severe in the UK.… Read the rest
- After lengthy talks, EU leaders have agreed on a new budget and a recovery fund, demonstrating member states’ continued commitment in a moment of severe crisis.
- The deal is politically transformative in that it sets a powerful precedent, allowing the Commission to issue joint debt, part of which will be passed on to crisis-hit economies in the form of grants.
- On 17-18 July, heads of state or government will convene for their first in-person summit since the outbreak of the pandemic.
- The goal for the special European Council is to agree a new multiannual financial framework (MFF) for the period 2021-27, including the envisaged EUR 750bn recovery fund.