News Summary

The Vostok Report

The news to 15 March 2013.

14 March: The Just Russia Duma deputy, Ilya Ponomaryov, quit the party in protest at the expulsion of fellow deputies, Dmitri and Gennady Gudkov. Ponomaryov declared his intention to form a new parliamentary faction, however party bosses are likely to attempt to replace him with a loyal party member.

Source: RIA Novosti

13 March: Former Economics Minister, Elvira Nabiullina, was appointed as the new head of Russia’s Central Bank. Experts predicted a moderate loosening of monetary policy.

Source: RIA Novosti

11 March: Hungary’s Parliament passed constitutional amendments removing the right of the country’s highest court to strike down sections of the Constitution. In separate developments, the new Central Bank chief, Gyorgy Matolcsy, proved as radical as expected, clearing out staff appointed by the previous, non-Fidesz Governor.

Sources: BBC, Reuters

13 March: Alenka Bratusek managed to form a government with a parliamentary majority in Slovenia, two weeks after the resignation of her predecessor. The new government reflects the majority who voted against plans to recapitalise the country’s banks following the financial crisis. Analysts predicted that they would have to form alternative plans for the banking sector before the end of the parliament in two years time.

Source: Bloomberg

13 March: Belarus‘ exports fell 14.7% in the year January 2012 to 2013, with imports falling 2.6%. Belarus had a trade deficit of $o.16bn for the year. The European Bank for Reconstruction and Development adopted a new three-year strategy, devised to increase the manufacturing and agricultural industries of the country.

Source: Belta, Belta

13 March: Slovakia and Poland announced plans to bid for the 2022 Winter Olympics.

Source: Reuters



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