Romania to postpone euro adoption target until 2029

Iulian Ernst in Bucharest December 16, 2021

Romania has repeatedly put back its target for euro adoption, missing a window of opportunity in 2015-17 when it met all the nominal convergence criteria set by the Maastricht Treaty.

Academic close to Erdogan says Turkey should prepare for state of emergency due to economic crisis

bne IntelIiNews December 16, 2021

Professor walks back comments but fears circulate that move could be made to prepare for a sudden and unjust snap election.

Top EU court says Bulgaria must issue ID to baby girl with two mothers

Denitsa Koseva in Sofia December 15, 2021

Bulgaria does not recognise same-sex marriage and refused to name both as mothers in a national birth certificate.

Putin, Xi vow “renewed friendship” at virtual summit a week after Putin’s summit with Biden

bne IntelliNews December 15, 2021

Russian President Vladimir Putin and his Chinese counterpart, President Xi Jinping, held a virtual summit on December 15 in a show of solidarity against what they called “US aggression.”

Lithuanian premier rejects ministers' resignations over Belarus sanctions-busting scandal

Linas Jegelevicius in Vilnius December 15, 2021

Head of state-owned railways will instead step down over contract that allows Belaruskali potash to continue being carried to Port of Klapeida.

Belarusian court sentences Tikhanovskaya’s husband and other leading opposition figures to 15-18 years in jail

bne IntelliNews December 15, 2021

A Belarusian court sentenced Sergey Tikhanovsky to 18 years in jail along with several other top opposition figures, journalists and bloggers on December 14 as the Lukashenko regime continued its brutal repression of its enemies.

Owner of Russia's largest car dealer Rolf forced to sell

bne IntelliNews December 15, 2021

Russia's largest car dealer Rolf of Sergei Petrov has been sold to rival KlyuchAvto for an undisclosed amount.

Hungary’s central bank announces package of tightening measures

bne IntelliNews December 14, 2021

MNB raises rates by another 30 bps, widens interest rate corridor and phases out QE and bond purchase schemes.

President Zeman agrees to all new Czech government ministerial appointments

bne IntelliNews December 14, 2021

President climbdown on vetoing foreign minister gifts Prime Minister Petr Fiala first victory in what is likely to be a long tug of war.

Crisis-hit Turkish lira takes high-volatility rollercoaster ride featuring new all-time low

bne IntelIiNews December 14, 2021

Day saw a stomach-churning descent of 7%.

Bulgaria’s parliament endorses government led by Kiril Petkov

Denitsa Koseva in Sofia December 13, 2021

Appointment puts an end to the deep political crisis in the country that has held three general elections since April.

Albania’s opposition Democrats in disarray as delegates vote to dismiss party leader at unauthorised assembly

bne IntelliNews December 13, 2021

Current party leader Lulzim Basha says he won't quit despite vote at unauthorised assembly hosted by his predecessor Sali Berisha.

Bosnian Serbs vote to start quitting key state institutions

Eldar Dizdarevic in Sarajevo December 13, 2021

Opposition fear move will result in a new war while international community warns of a serious escalation "threatening the stability of the country and the entire region".

Russia issues a eight-point list of demands

Ben Aris in Berlin December 13, 2021

Following the two-hour December 7 virtual summit between Russian President Vladimir Putin and US President Joe Biden the Russian Foreign Ministry has followed up and issued a concrete eight-point list of demands on December 10.

Lithuania humiliated by Belarus sanction-breaking scandal

Linas Jegelevicius in Vilnius December 13, 2021

Foreign and transport ministers offer to resign after revelation that state-owned railways has continued to transport potash exports of sanctioned regime.

Hungary’s government to defer €1bn of investment as budget gap balloons

bne IntelliNews December 12, 2021

Delay in receiving recovery funds also plays a part in decision.

Bulgaria’s Change Continues inks coalition deal, nominates cabinet

Denitsa Koseva in Sofia December 11, 2021

Formation of the coalition should put an end to the deep political crisis in Bulgaria, which has gone through three general elections and two caretaker governments since April.

Biden pledges no backstage talks with Russia about Nato’s eastern flank

Wojciech Kosc in Warsaw December 10, 2021

US president reassures Bucharest Nine of commitment after talks with President Putin stoke fears.

Russian wines export to France, as bottlenecks tighten in Europe

bne IntelliNews December 10, 2021

Russia could see a 20-25% spike in the prices of imported wines in 2022 due to a poor harvest in Italy and France, supply chain disruptions and higher costs, RBC business portal wrote citing local distributors and retailers.

Grim plights in Belarus and Turkey underlined as Committee to Protect Journalists reports “especially bleak year” worldwide

bne IntelIiNews December 10, 2021

Prison census finds number of journalists jailed around the world in 2021 hit a new record.