Multi-speed Europe

At the start of summer 2024, Bulgaria has reported record low unemployment levels. According to the latest data from Eurostat, the share of job vacancies across the European Union declined to 2.4 percent in the second quarter, down from 2.6 percent in the previous quarter.

Bulgaria is planning to transition from the leva (BGN) to the euro (EUR) in just over a year as part of its strategy to enter the Eurozone. While the exact date remains uncertain, the implications of this shift are clear. The newly adopted euro law outlines the process and addresses potential consequences of further delaying Eurozone membership.

The annual inflation rate in Cyprus dropped to 2.2% both in Cyprus and in the eurozone in August, compared to July 2024 (from 2.4% in Cyprus and 2.6% in the eurozone), Eurostat said.

Faced with the specter of reliving a situation reminiscent of 2015 - obviously not the same, but with some similar characteristics - when tens of thousands of immigrants and refugees were "stuck" on Greece's border with North Macedonia, Athens is in search of a strategy - and allies to strengthen its position and push it through - to respond to Berlin's recent decision to tighten controls on it

Germany has introduced temporary border controls to ensure safe, orderly, and legal entry into the country, a move that will not impact the visa issuance process for Turkish citizens, as confirmed by Germany's Embassy in Türkiye on Monday.

Athens is determined to take a very tough stance toward Germany, especially after Berlin's recent decision to tighten controls on its western land borders, according to well-informed sources speaking to Kathimerini.

In June, Bulgaria's services sector saw a monthly production increase of 0.6 percent, while Eurostat data showed a decline in the EU for the same period. Production in the Eurozone's services sector dropped by 0.8 percent compared to May, with the overall EU figure falling by 0.9 percent.

Greek Prime Minister Kyriakos Mitsotakis said on Thursday that a German plan to impose tighter checks at its land borders amounted to unilaterally scrapping Europe's open-border Schengen zone and would burden frontline states such as Greece.

Germany announced plans this week to extend controls to all its land borders and turn away more asylum seekers in a bid to reduce irregular migration in a shift from its previous open-door policy.

The European Union is grappling with a sharp increase in both legal and illegal migration, leading several member states to implement temporary border checks, despite their participation in the Schengen area, which typically allows for free movement. The Schengen rules permit such measures only "as a last resort" in response to serious threats to internal security or public order.