Political Briefing #12/2016

POLITICS & POLICY

Bosnia – EU Membership application

Bosnia has officially submitted its EU application, earlier today. The country already tried to apply to join the Union in the early 2000s but due to deep divisions among the country’s communities, political and civil society reforms requested by the EU never took place. Commenting on the news, Federica Mogherini, head of EU Foreign affairs, and Johannes Hahn, EU Enlargement Commissioner both stated how important unity and peace are, even in a moment in which the European project is at its limits.

Source: Luxemburger Wort, 15/02/2016

Greece – Debt crisis: No further recapitalization

According to the European Central Bank, Greece does not need any further bank recapitalization. Indeed, the country already received €14.4 billion of funding. Daniele Nouy, Chair of the Single Supervisory Mechanism, stated that Greek banks will be kept out from the ECB’s stress test this year because they already went through “rigorous” health checks last year. The Bank of Greece is currently supervising a €9.5 billion portfolio and needs to recover €800 million of bad loans.

Source: Ekathimerini, 13/02/2016


THE STATEMENT

“You could call Brexit a risk, but I prefer to talk about what would be better for us (…) Do I want a future where we survive in the UK or do I want a future where we thrive in the UK? (…) Of course, there may be trade barriers for Britain if it left the EU. But more importantly: we want the UK to be able to set standards for new development, and we couldn’t set those outside the UK. The same applies for research and development: you wouldn’t be able to define research fields relevant for Siemens in Britain”.

Jürgen Maier, CEO of Siemens in the UK

Source: The Guardian, 14/02/2016


NUMBERS

29%

The percentage of British and German companies operating in the UK that would either reduce or relocate in the event of a Brexit.

Source: The Guardian, 14/02/2016

17%

The percentage of the Greek GDP that is spent on pensions. More than any EU members.

Source: Ekathimerini, 14/02/2016


Photo credits CC: German Embassy London


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