Daily Archives: 14 May, 2015

On Wednesday, 13 May, the European Commission unveiled its highly anticipated plan to deal with the increasing number of migrants trying to reach the European shores. The long-awaited European Agenda on Migration made waves in the media with its system of immigration quotas and proposal for military action in the Mediterranean. The “immediate action” called for by the Commission establishes a set of measures to deter and dismantle traffickers’ networks, while also distributing the burden of resettling asylum seekers amongst EU member states. More details will continue to be presented on the various proposals, while the package will be discussed by the EU leaders at the upcoming European Council meeting in June

Spain is accelerating, Germany is slowing down, and Greece is in reverse. Gross Domestic Product (GDP) in the entire euro area grew by 0.4% in the first quarter, one tenth more than in the last quarter of 2014, according to Eurostat’s first estimate. However, this figure from the EU’s statistics office conceals a disparity in the performance of the different economies in the region. Low oil prices, the depreciation of the euro against the dollar, and the debt purchase programme, coupled with the low interest rates spurred by the European Central Bank’s (ECB) monetary policy have been the main factor which has benefitted the Eurozone’s economy. But the ECB has warned that the recovery will not be sustainable unless governments work harder with reforms.

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