POLITICS & POLICY
EU – New measures: 500 euro notes
The European Central Bank has declared that it will stop producing 500 euro banknotes due to the risk of money laundering and terrorist financing, to which these notes lend themselves better than smaller ones. It is believed, moreover, that because of its size, the 500 euro note is especially valued in “underground finance”, where it can be exchanged at more than its face value. Existing bills will be exchangeable for an unlimited period of time at national central banks.
Source: Luxemburger Wort, 5/05/2016
Greece – Debt Crisis: New reforms
The Greek government has submitted two new bills to the Parliament, which aim at reforming the country’s pension and tax system respectively. MPs will vote on the bills on Sunday night, before Finance Minister Euclid Tsakalotos meets with his eurozone counterparts on Monday in Brussels. A 48-hour general strike has been called for Friday and Saturday by the two main labour unions. Tsipras has nonetheless declared that reforms “fully secure people’s pensions, protect the weak, spread the tax burden and social security contributions more fairly, and safeguard the sustainability of the pension system”.
Source: Ekathimerini, 5/06/2016
“The economic recovery in Europe continues but the global context is less conducive than it was. Future growth will increasingly depend on the opportunities we create for ourselves (…) That means stepping up our structural reform efforts to address long-standing problems in many countries – high levels of public and private debt, vulnerabilities in the financial sector or declining competitiveness”.
Valdis Dombrovskis, European Commissioner for the Euro and Social Dialogue
Source: Financial Mirror, 4/05/2016
The number of civil servants that Slovakia trained between March 2014 and December 2015 for the its upcoming EU Council of Minister presidency.
Source: The Slovak Spectator, 4/05/2016
The percentage by which Maltese full-time registered employment increased from November 2014 and November 2015.
Source: Times of Malta, 5/05/2016
Photo Credits CC: Baltic Development Forum