Bulgaria on the way to the Eurozone

Bulgarian National Bank headquarters, Sofia (Bjoertvedt, CC)

Minimum wage in Slovakia will exceed EUR500

The number of Poles eager to work in the UK drops

Bulgaria

The European Central Bank (ECB) has resisted granting Bulgaria a fast track to Eurozone’s membership, saying its banks require tougher supervision before it can join the European Union’s single currency bloc — Novinite.com reports. That’s why Bulgarian government agreed to join the banking union first. Thanks to the solution, the ECB will take supervision over the biggest Bulgarian lenders. 10 out of 22 commercial banks operating in Bulgaria will have to “adopt extra protective capital buffers”, according to an information released by the Bulgarian National Bank (BNB).

Regarding the new measures: Bulgarian banks would require additional buffers of between 0.25 per cent and 0.7 per cent of total risk exposure as of January 2019.

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Slovakia

The minimum wage in Slovakia will reach EUR520 in 2019 — the Slovak Spectator informs. Slovak Prime Minister Peter Pellegrini has just signed a regulation, increasing the amount from EUR480.

The portal points out that it’s the first time in Slovakia’s history when the minimum wage is “set to exceed EUR500”. Further increases are expected: “Since the Slovak economy is currently thriving, the government is also ready to continue negotiations over the minimum wage increase with social partners in the future,” the Slovak Spectator writes.

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Poland

Only 3 per cent of respondents consider migrating to the United Kingdom for work — the Polish Radio informed quoting the job agency Work Service. According to the most recent, the number of Poles eager to work in the UK has dropped 16 percentage points since last year, mainly due to the Brexit. The Polish Radio points out that the UK is scheduled to leave the European Union in March 2019.

The top destination for the Polish work migration is Germany (23.3 per cent of respondents). Norway (with 15.6 per cent) and Sweden (14.7 per cent).

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What’s up in indexes

BET (of Bucharest) increased from 8,563.37 index points Friday, November 2nd to 8,573.48 index points Monday, November 5th. It’s up 0.15 per cent d/d and up 10.14 per cent y/y.

BUX (of Budapest) increased from 37,155.21 index points Wednesday, October 31st to 37,794.87 index points Monday, November 5th. It’s up 1.72 per cent d/d and down 5.79 per cent y/y.

CROBEX (of Zagreb) increased from 1,769.80 index points Friday, November 2nd to 1,771.45 index points Monday, November 5th. It’s up 0.09 per cent d/d and down 0.06 per cent y/y.

OMXR (of Riga) decreased from 957.04 index points Friday, November 2nd to 952.33 index points Monday, November 5th. It’s down 0.49 per cent d/d and down 7.06 per cent y/y.

OMXT (of Tallinn) decreased from 1,194.58 index points Friday, November 2nd to 1,192.41 index points Monday, November 5th. It’s down 0.18 per cent d/d and down 2.67 per cent y/y.

OMXV (of Vilnius) increased from 655.62 index points Friday, November 2nd to 658.66 index points Monday, November 5th. It’s up 0.46 per cent d/d and down 0.55 per cent y/y.

PX (of Prague) increased from 1,067.73 index points Friday, November 2nd to 1,072.44 index points Monday, November 5th. It’s up 0.44 per cent d/d up 1.60 per cent y/y.

SAX (of Bratislava) decreased from 334.51 index points Friday, November 2nd to 332.33 index points Monday, November 5th. It’s down 0.65 per cent d/d and up 3.20 per cent y/y.

SOFIX (of Sofia) decreased from 596.80 index points Friday, November 2nd to 596.67 index points Monday, November 5th. It’s down 0.02 per cent d/d and down 11.31 per cent y/y.

UX (of Kyiv) increased from 1,743.54 index points Friday, November 2nd to 1,753.17 index points Monday, November 5th. It’s up 0.55 per cent d/d and up 40.66 per cent y/y.

WIG20 (of Warsaw) increased from 2,197.68 index points Friday, November 2nd to 2,233.74 index points Monday, November 5th. It’s up 1.64 per cent d/d and down 10.45 per cent y/y.

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