Europe’s carbon price is set for a dramatic rise, according to a European Commission draft, while fuel prices for households and industry could also increase. As part of the EU’s European Green Deal, which pushes for cleaner energy and alignment with 2030 climate targets, the price of CO2
On Monday, Belarus’s government announced the suspension of its participation in the European Union’s Eastern Partnership, which is a cooperation vehicle between Brussels and ex-communist countries in the region. The Eastern Partnership is perceived by many countries in Eastern Europe and Central Asia as a precursor to a
Despite Serbia’s aspirations to join 27 member states as a fellow member of the European Union, Belgrade is refusing to back any EU policies that go against Russia, absolutely refusing to support sanctions against Moscow following its actions like the annexation of Crimea. Russia is Serbia’s friend, speaker
Meeting in Warsaw, finance ministers from the “Visegrad 4” (V4) country grouping – Poland, Czechia, Hungary, and Slovakia – discussed post Covid-19 economic recovery plans and investments. They welcomed the global minimum tax proposed by the G7 but said they prefer an international solution in the Organisation for Economic Cooperation and Development
Starting in July of this year, Romania and Bulgaria will be granted access to Europe’s Visa Information System (VIS), a database that connects border guards at the EU’s external borders with member states’ consulates around the world, as part of those countries’ eventual inclusion into Schengen, a borderless
The October elections in the Czech Republic could change the Czech government’s approach towards the EU’s climate objectives, which is currently very cautious. Similar to most countries in Central & Eastern Europe (CEE), the country is an underachiever in renewables, but it is gradually phasing out coal-fuelled power
With Europe having seen several cyberattacks in recent months, like the ransomware attack on Ireland’s healthcare agencies, or the hacking of the European Banking Authority, the European Commission has come up with a proposal for what it is calling the “Joint Cyber Unit,” (JCU) designed to coordinate efforts and
In a heated debate on Thursday night, Hungary’s prime minister Viktor Orbán was confronted over recent anti-LGBTQ+ measures by his fellow heads of state and governments. Diplomatic sources say those leaders spoke in unusually personal and emotional terms for an EU summit discussion. Luxembourg’s PM Xavier Bettel spoke
This week, Slovenia became the first country in Central & Eastern Europe (CEE) to issue 10-year sustainability bonds to the tune of EUR 1 billion, whose proceeds are to go to investments with environmental and social objectives. The country was able to raise over EUR 8.4bn from 210 investors.
In recovery plans being submitted by member states to the European Commission to tap into the EUR 750 billion in available funds, 37% of spending must go toward green investments. Nine such plans have been approved so far by the Commission. But some NGOs are afraid the Commission may be
To curb inflation, the Central Bank of Hungary (MNB) on Tuesday raised its base rate by 30 basis points to 0.9% from 0.6% – slightly exceeding forecasts. Via this move, Hungary may be the first EU member state to initiate a cycle of rate hikes aiming to combat growing
The European Commission has approved the economic Recovery and Resilience Plan submitted by Slovakia, which was among the first EU member states to present how it intends to spend EUR 6.3 billion in Union funds on things like education, healthcare and the environment. EC president Ursula von der Leyen
The European Environmental Agency makes annual comparative reports on air quality in all of the main European cities. The good part is, they make it publicly available through an interactive map, which we’ve embedded below. Check your hometown, holiday destination, or any other place that comes to mind. The
Meeting the EU’s 2030 climate targets poses a huge challenge for Central European countries, especially for coal-dependent Poland. But it is also helping the country with a population of 40 million to modernize. Thwarted by the highest electricity prices in Europe, and pressured by EU environmental regulations, Poland has
The future of natural gas and how it is funded by the EU are deepening the divide between eastern and western Europe. Countries in Central & Eastern Europe (CEE) like the Czech Republic, Poland, Hungary, Bulgaria and Romania continue to see natural gas as a key energy source and would
It’s been over a year since the EU’s ban on non-essential travel, but as of 18 June US travelers and those from 13 other countries – Albania, Australia, Israel, Japan, Lebanon, New Zealand, Republic of North Macedonia, Rwanda, Serbia, Singapore, South Korea, Thailand, and China – will once again be
A leaked draft version of the European Commission’s renewable energy directive has received loud criticism from the renewables industry and NGOs. They claim the proposal is lacking ambition and that it must be in line with EU’s new climate goals. The proposal is due to be adopted in
Minimum wages are a make-or-break issue against in-work poverty and an important element of a single labor market. But instead of setting a mandatory pan-European minimum wage, the EU is striving for strengthening collective bargaining across member states against the will of multinational corporations in whose interests it is to
On Tuesday, Hungary’s parliament passed a so-called pedophile law, which critics say is actually directed at the LGBT community and also restricts freedom of expression. Introduced by the ruling Fidesz party which has a two-thirds majority in parliament, the legislation includes a public register of convicted sex offenders and
In the final days of the Portuguese EU presidency, transport ministers agreed with members of the European Parliament revisions to Eurovignette, the rules on road charging to reduce emissions of polluting gases and infrastructure congestion. Portugal’s minister of infrastructure and housing, Pedro Nuno Santos, stated that the agreement “with
On Tuesday at the EU Summit, EU leaders and US president Joe Biden struck a conciliatory tone and made efforts toward ending disagreements on trade, including a dispute concerning aircraft subsidies that has dragged on for 17 years. The two sides also agreed to remove USD 11.5 billion in
As its first attempt to test financial markets, the European Commission on Tuesday announced it had raised EUR 20 billion in 10-year bonds successfully. The EU wants to finance the EU27’s COVID-19 crisis recovery. Speaking to the press, EC president Ursula von der Leyen said that the inaugural transaction
Few would call Europe a continent of extremes – yet wage differences are sometimes severe: in South-Eastern-Europe, in countries outside of the European Union, there are still some places where hourly wages are under EUR 2. Meanwhile, EU member states like Croatia and Slovenia offer much better pay, the latter being
China poses security challenges to NATO, which will engage the country to address them, according to an official statement from the organization following US president Joe Biden’s first NATO summit as president on 14 June. The Atlantic defense alliance also recognized Beijing’s nuclear military buildup as a threat.
Global warming will not only wreak havoc on the global economy but could also result in dire economic consequences for Hungary and other countries in Central & Eastern Europe. G7 economies, for example, could lose USD 5 trillion a year, or 8.5% of their GDP by 2050, if global