UK – Brexit: Consequences

According to the European Commission, uncertainty over Britain’s referendum generates a risky situation for Europe’s economy. Uncertainty about the final outcome could indeed bring about a slowing down of the UK’s external demand. If, until two months ago, the British economy was expected to grow by 2.1% both in 2016 and in 2017, current projections revise those numbers down to 1.8% and 1.9% respectively.

Source: Luxemburger Wort, 3/05/2016

Hungary – Economy: Current situation

According to the EU’s projections, Hungary’s GDP will grow by 2.5% in 2016 and 2.8% in 2017. This is mainly due to growing private consumption and to measures that will boost the housing market by allowing faster deals next year. Hungary’s government deficit is expected to stay at 2%, despite increased fiscal room. The country’s public debt dropped by 0.9% last year and is expected to decline further this and the next year, reaching 74.3% 73% of GDP respectively.

Source: Bbj, 3/05/2016

Greece – Debt crisis: New measures?

Greece’s government officials representatives are meeting with creditors to find an agreement regarding loans and debt reliefs before the next Eurozone finance ministers meeting next Monday. Current talks revolve around whether to implement new contingency measures should Greece not meet its budget targets in 2018. These measures have recently been requested by the IMF, stating that the previous ones are inadequate if Greece’s aim for 2018 is to achieve a budget surplus worth 3.5% of GDP. The Greek government has declared that it is against contingency measures and proposes instead to activate a mechanism for cutting state spending in case the government misses budget targets.

Source: Ekathimerini, 3/05/2016


“Should we give in to street protests and scrap these proposals? No”.

Myriam El Khomri, French Minister of Labour, on the French government labour reform bill.

Source: The Independent, 03/05/2016


€978 mln

Hungary’s trade surplus in February.
Source: Bbj, 3/05/2016


The percentage by which the number of people sleeping rough in Dublin has increased in the last 5 months.
Source: Irish Times, 3/05/2016

Photo Credits CC: Parti socialiste


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