Weekly Digest: November 4

Every week, the head editors of the European Review gather and analyze the most salient topics of the week, and present them to you in the form of a easy-to-read digest. Enjoy!

Politics

Angela Merkel to Step Down as Party Leader

Elections in Bavaria were the first step - elections in Hesse were the final straw. After Angela Merkel’s governing party suffered yet another defeat in a German state election, Mutti announced that she will not run for reelection at her party’s leadership conference in December, nor will she run for reelection as Chancellor in 2021. Will she last until then, though? Some commentators think not.

Finland Celebrates "National Jealousy Day"

Every year on November 1, Finland releases the incomes of every Finnish citizen. That’s right - Finns get to know how much their neighbors, their friends, and even their mothers make. Some grumble about an invasion of privacy, while others remark that the move indicates Finland’s culture of transparency and seriousness of reducing wealth inequality.

Economics

Deutsche’s performance in EBA stress-testing

The EBA (European Banking authority) has conducted an annual series of tests to adverse shocks in order to seek a better bank resilience and market discipline. The german bank, Deutsche, has performed a ratio of 8.1% for 2020, which has placed it in the last tier of the 48 banks evaluated. The stress tests conducted for this major capital lender were however not very detrimental to risk-assessment of asset quality and liquidity.

Poland requests increase in parts left open by Brexit within the EIB

Concerned with the fallbacks of UK’s exit from the European Union in the shareholdings of the European Investment Bank, Poland requests an “asymmetric increase in capital contributions’’. As the country wishes for its part to reflect its important growth in the representation within the EIB, some objectors are concerned with the EIB’s good rates of security as lender to European projects.


Culture and Society

Europe’s Largest Museums Will Loan Looted Benin Bronzes to Nigeria’s Planned Royal Museum

Many renowned European museums are in negotiation with Nigeria and particularly Nigeria’s Royal Museum with regards to Benin bronzes that were looted from the nation during the Benin Expedition of 1897. While this loaning is seen as a positive negotiation, many, such as French President Emmanuel Macron and other critics, see it merely as a step in the right direction towards further returning possession and ownership of artifacts of African heritage owned by European nations.

Central and Eastern European Artists Come Together to Collect Anti-Populist Works   

In Central and Eastern Europe, artists are working to create an independent and unified collection, intended to be a reaction to the rise of right-wing nationalism and populism. Museums and other public presentations of art can fall prey to the personal interests or media campaigns, so the shared collective would be a safe space for art of all kinds.