Bulgaria and Romania qualify to join Schengen Area

Bulgaria (Andrea, CC BY-NC-ND)

Ukraine after PM’s resignation

Nordea Bank will sell its Baltic branch

Bulgaria and Romania

The officials of European Commission claim that Bulgaria and Romania have fulfilled all the requirements to join the EU’s free-travel Schengen Area. The countries qualify for entry into the Area. Mina Andreeva, EC spokesperson, told journalists in Brussels on April 11th, that now a unanimous decision by the EU Member States will be required.

Bulgaria and Romania joined the European Union in 2007. They have planned to enter the Schengen Zone no later than 2011, but have difficulties in fulfilling the conditions. The problems were domestic judiciary and law enforcement. For years Germany, France and the Netherlands have opposed to the idea of Bulgaria and Romania joining into the Schengen Area.

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Ukraine

After Ukrainian Prime Minister Arseniy Yatseniuk’s submitted his resignation to Verkhovna Rada (Ukrainian parliament) speaker most Ukrainian politicians agree that Yatseniuk’s decision won’t solve numerous problems the country is currently facing.

“Rough years are spent fighting for the country’s freedom. The next ones will also be difficult. Our fight brought the first result, but to be honest, I have more than enough reasons to worry amid rigged and behind-the-scenes political games of recent days,” wrote Odessa Governor, Mikheil Saakashvili. “A political crisis can’t be solved by the resignation of Prime Minister Yatsenyuk alone, the fact that we welcome,” said Ukraine’s Radical Party leader Oleh Lyashko.

Sputnik News informs after submitting the resignation, Mr. Yatesnyuk had an over-the-phone talk with Joe Biden, the vice-president of the United States. “The Vice President thanked Prime Minister Yatsenyuk for his partnership during a historic time for Ukraine. He congratulated the government of Ukraine on its accomplishments over the past two years, in particular on the strides it has made on difficult but necessary economic reforms, the signature of the European Union association agreement, and the work it has done to increase energy independence,” the US Vice President Biden’s office informs.

There are many other “geopolitical” comments on the situation, in context of the referendum that was held a few days ago in the Netherlands, Dutch said “no” to the EU treaty with Ukraine.

“On Sunday Ukrainian prime minister Yatsenyuk resigned, just four days after the Dutch voted against Ukraine joining the European Union. Taken together, these two events are clear signals that the US-backed coup in Ukraine has not given that country freedom and democracy. They also suggest a deeper dissatisfaction among Europeans over Washington’s addiction to interventionism,” writes the author of ZeroHedge blog.

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Baltics

Estonian Äripäev daily informs that Scandinavian banking giant Nordea Bank has decided to sell its Baltic branch and was looking for a buyer. “The sale has been prepared for at least 18 month,” Baltic Business News writes.

The estimated value of Nordea’s Baltic business is approx. EUR1bn. Estonian newspapers remind the bank had the profit of EUR91m in 2015 (three times more than in 2014). Commentators speculate on the possible buyers are: Estonian bank LHV and British HSBC. Nordea itself didn’t confirmed the news and said that as a listed company it cannot comment such speculations. Also LHV and HSBC refuse to comment.

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What’s up in indexes?

BUX (of Budapest Stock Exchange) lost 0.92 per cent – decreasing from 26513.50 index points Friday, April 8th to 26268.40 index points Monday, April 11th. From year-end it’s up 9.81 per cent. 

BET (of Bucharest Stock Exchange) lost 0.25 per cent d/d – decreasing from 6728.47 index points Friday, April 8th to 6711.92 index points Monday, April 11th. From year-end it dropped by 4.17 per cent.

PX (of Prague) decreased from 899.33 index points Friday, April 8th to 893.56 index points Monday, April 11th. So it dropped by 0.64 per cent d/d and by 6.56 per cent.

WIG20 (of Warsaw) lost 0.27 per cent d/d – falling from 919.42 index points Friday, April 8th to 1914.22 index points Monday, April 11th. From year-end the index’s up 2.96 per cent.

OMXT (of Tallinn) was up 0.50 per cent – increasing from 964.99 index points Friday, April 8th to 969.79 index points Monday, April 11th. From year-end it’s up 7.88 per cent.

OMXR (of Riga) grew by 0.56 per cent – increasing from 613.15 index points Friday, April 8th to 616.60 index points Monday, April 11th. From year-end it’s up 3.74 per cent.

OMXV (of Vilnius) lost 0.35 per cent – falling from 495.24 index points Friday, April 8th to 493.53 index points Monday, April 11th.  From year-end it’s up 1.55 per cent.

SAX (of Bratislava) was up 0.16 per cent d/d and up 9.81 per cent from year-end. It increased from 320.50 index points Friday, April 8th to 321.02 index points Monday, April 11th.

SOFIX (of Sofia) grew by 0.13 per cent – climbing from 441.05 index points Friday, April 8th to 441.62 index points Monday, April 11th. From year-end it lost 4.18 per cent.

UX (of Kyiv) increased from 580.96 index points Friday, April 8th to 585.34 index points Monday, April 11th. So it grew by 0.75 per cent d/d. From year-end it dropped by 14.66 per cent.

CROBEX (of Zagreb Stock Exchange) grew by 0.22 per cent – increasing from 1661.17 index points Friday, April 8th to 1664.77 index points Monday, April 11th. From year-end it lost 1.47 per cent.

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