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The Regions This Week
March 1, 2019 www.intellinews.com I Page 9
Southeast Europe
Moldova’s general election failed to produce a majority in parliament. The most likely outcome is for oligarch Vlad Plahotnuic’s Democratic Party, which is neck and neck with the Socialists, to cobble together a narrow majority with the help of independents, defectors from the Socialists and MPs from convicted fraudster Ilan Shor’s epony- mous party.
Bulgaria’s competition watchdog, KZK, unfroze the procedure for construction of the Turkish Stream extension on the country’s territory that should connect the gas network with Serbia, allowing the tendering procedure to continue. Earlier in Febru- ary, the state-owned gas network operator Bulgar- transgaz temporarily halted the tender due to com- plaint filed by local Atomenergoremont company.
“Most if not all” mandatory private pension funds are considering withdrawing from Roma- nia following recent changes to Romanian legisla- tion, a central bank official warned. According to an emergency decree adopted by the government, the private pension funds managers have to sig- nificantly increase their capital to as much as 10 times the current level.
Turkey launched its biggest ever naval exercise.
Analysts see it as a show of force to Greece and Cyprus, with which Turkey is at odds over rights to potential gas and oil reserves in the Eastern Medi- terranean, and as a pumping up of national pride in advance of the end-of-March local elections.
The Slovenian finance ministry plans to lower labour taxation in a bid to boost spending and economic growth. According to Finance Minister Andrej Bertoncelj, the reform is aimed at increas- ing net revenue of those employed in order to make the Slovenian economy more competitive at the international level.
An opposition protest turned violent in Albania when a group of demonstrators tried to break the line of police placed at the main entrance of the
parliament, but were repelled with tear gas. The opposition Democratic Party has quit the parlia- ment and launched a series of protests with the aim of forcing out Prime Minister Edi Rama.
Bosnian power company Elektroprivreda BiH will spend €69mn on wind turbines from Siemens Gamesa. Construction of the company’s new wind farm will increase the production of electricity from renewable energy sources in the country.
The Civil Liberties Committee of the European Parliament selected the former head of the Romanian anticorruption body, Laura Codruta Kovesi, as their top candidate for the position of European chief prosecutor. The selection came despite harsh criticism from Romania’s ruling coalition who accuse Kovesi of abuse.
Croatia will apply to join the Exchange Rate Mechanism (ERM II) in the second quarter of this year, central bank governor Boris Vujcic said. The Croatian government previously announced plans to join the ERM II in 2020 as a step towards joining the Eurozone.
Around 150 Kosovars, including women and chil- dren, are still in war zones in Syria. Per capita, Kosovo ranks first among outside countries with the most citizens who have taken part in wars in Syria and Iraq.
The Hungarian authorities halted an investiga- tion into the escape of North Macedonia’s ex- prime minister Nikola Gruevski, who illegally fled his home country to avoid a prison sentence and was granted asylum in Budapest. Reportedly, Gruevski had valid travel documents when he entered Hungary.
Israeli lender Bank Hapoalim is planning to sell its holdings in Turkey’s Bank Pozitif, sources told Reuters. Bank Hapoalim acquired a controlling 70% stake in Bank Pozitif, Turkey’s 39th biggest bank by assets, in 2006.