Growth in the Germany economy slowed in 2013. After 0.7% in 2012 and 3.3% in 2011 the GDP growth rate totalled 0.4% in 2013 indicated the Federal Statistics Office (Destatis) on 15th January 2014. However the German economy grew by around 0.25% in the fourth quarter of 2013, in comparison with the third said Destatis. Moreover Germany's budgetary deficit in 2013 emerged to be below previous forecasts at 22.1 billion euro, thanks to lower spending than previously planned. This is three billion less than the 25.1 billion euros planned for previously added the Finance Ministry in a press release - however it did say that from December on it would probably be doing better than previously announced.

On 15th January 2014 the European Commission adopted new guidelines establishing the terms by which Member States can grant aid designed to facilitate financing access on the part of SMEs, small midcaps and innovative midcaps. Some SMEs and midcaps, which are in the first stages of development, experience difficulties in finding financing even when they are potentially interesting. State aid can help make good the financing deficit, not by replacing existing financing sources, but by helping to attract new capital to the businesses via well-designed financial tools and fiscal measures.

MEPs adopted a new European regulation on public procurement and concession contracts which were the focus of an agreement with the Council in June 2013. These measures will enable a better price/quality ratio during the conclusion of concession contracts or during the attribution of work, goods and services. Moreover SMEs will be able to submit their tender more easily. Finally stricter measures on subcontracting have been planned for.

An agreement of principle was reached between the European Parliament and the Council to provide a better framework for the financial instruments' markets in order to limit speculation and to re-establish investor confidence that has been challenged by the crisis. This agreement that was clinched on 15th January 2014 enabled the end of stalemate more than two years after the European Commission's presentation of its proposal to revise the European directive on the financial instruments' markets, the so-called MiFID. The new European bill will help make the "financial markets safer and more effective, protect investors better, limit speculation on the commodities' markets and regulate high frequency trading," which relies on financial transactions that are completed within nanoseconds.

On 16th January 2014 MEPs approved the appointment of German Sabine Lautenschläger to the board of the ECB in replacement of Jörg Asmussen. Ms Lautenschläger 49, is the Vice-President of the German Central Bank where she is responsible for monitoring credit establishments. She was put forward by the Council of the European Union on 7th January.

In 2013 renewable energies provided 23.4% of the electricity used in Germany according to the Federal Association of Energy and Water Industries (BDEW). This is a new record. In 2012 the figure rose to 22.8%. These developments are in line with the German "energy revolution" (Energiewende). The latter aims to emerge from nuclear power and replace of coal powered stations by more modern, less pollutant means by 2022. The Energiewende's main goal is however to move over towards a new era: by 2050 renewable energies will provide 80% of the electricity consumed in Germany.

On the occasion of the meeting between British Prime Minister David Cameron and Cypriot President Nicos Anastasiades on 15th January 2014 the British and Cypriot Energy Ministers as well as company heads in this sector met to deepen cooperation in the energy sector and invited entrepreneurs to join them in their discussions.

On 14th January 2014 during his third press conference since the start of his five year mandate French President François Hollande announced; amongst other things, his proposals for Europe in 2014. He stressed that the EU had achieved some major results in 2013 in terms of the euro zone (notably banking union). In 2014 he notes that it is time for Europe's revival. In his opinion initiatives must first come from France and Germany. Three proposals have been made in this sense: economic and social convergence; coordination for energy transition; a Franco-German couple for European Defence. The French President would like an economic and monetary union with a government specific to the euro zone that has goals such as growth and employment and also financial capacities.

On 16th January 2014 the "Erasmus+" programme was launched at the Athens Academy by the Commissioner for Education, Culture, Multilinguism and Youth, Androulla Vassilou, together with the Education Minister Constantine Arvanitopoulos and the Culture and Sports Minister Panos Panayiotopoulos. More than four million people are due to benefit from an EU grant to study, acquire professional experience or do voluntary work abroad over the next seven years. Erasmus+ will have a budget of 14.7 billion €, ie 40% more than the previous programmes in 2007-2013.

On 14th January 2014 Hungarian Prime Minister Viktor Orban met Russian President Vladimir Putin in Moscow. They discussed trade relations between the two countries. In the press release the two men stressed that Russia, after Germany and Austria, was Budapest's third most important trade partner. They announced the signature of a nuclear cooperation agreement aiming to build two new nuclear power units in Parsk which guarantees 40% of Hungary's electricity production.

On 15th January 2014 the Lithuanian government approved a draft bill on the introduction of the euro in Lithuania. The project was put forward by the Finance Minister and still has to be approved by the Seimas (Parliament). The bill plans for the change in currency and the practical organisation this will demand. It has also been submitted to the ECB. This follows the declaration to the press by the Lithuanian Prime Minister Algirdas Butkevicius on 14th January 2014: "We have agreed to have the euro in Lithuania on January 1st 2015." He then stressed that the adoption of the euro would stimulate the Lithuanian economy by facilitating trade, foreign investment and the creation of jobs.

The production of natural gas in the Netherlands - Europe's second most important producer - will be reduced by 20% after a series of earthquakes. This will create a major problem for the State indicated the Dutch government on 17th January 2014. "The problem with the earthquakes affects all of the Dutch," declared the Economic Affairs Minister Henk Kamp during a press conference.

On 17th January 2014 Czech President Milos Zeman appointed Bohuslav Sobotka as Prime Minister. A list of ministers is to be approved by the end of the January. Mr Sobotka, leader of the Social Democratic Party (CSSD), committed to increasing pensions and minimum salaries whilst maintaining the deficit below the 3% threshold. He said he supported the respect of the budgetary pact rules set out by the European Union.

On 13th January 2014 the British Prime Minister announced that local authorities would enjoy major benefits if they gave the greenlight to the use of local shale gas reserves. Hence they would have the right to 100% of the profits made from the use of these resources (instead of the usual 50%) which should bring them around 2 million euro per year. According to a report by the Energy Department more than half of the British subsoil holds shale gas. The government sees an opportunity to revive the British economy in this.

On 19th January 2014 more than 200,000 opponents demonstrated in Independence Square (Maidan) in protest against the adoption of further laws that step up repression. Tension was acute between the police and demonstrators and100 people were injured. Given the rise in violence and following a meeting with Vitaly Klichko with the Ukrainian president, the latter announced that he was going to create a committee with the representatives of the opposition in order to bring the crisis to an end. On 16th January the Ukrainian parliament, dominated by MPs from the Party of Regions, adopted laws that were severely criticised by the opposition and the international community. These texts toughen sanctions taken against demonstrators rallied in the Maidan. The unauthorised installation of tents and tribunes in public places is now punishable by 15 days in prison. Moreover prison sentences ranging up to five years are now possible if people prevent access to official buildings. Defamation on the internet will also be punished. On 20th January 2014 European Foreign Ministers who, met in Brussels, deplored the violence meted out to pro-European demonstrators in Kyiv and criticised the repressive laws introduced by the Ukrainian authorities. The head of the EU's diplomacy Catherine Ashton also expressed her concern just a few days prior to this.

On 17th January 2014 in Bern, Switzerland and the EU held their first meeting on revising the agreement on the taxation of savings. The aim was to set the "technical means of the negotiations. " The meeting followed the adoption on 18th December 2013 by the Swiss government of a negotiation mandate on the revision of the agreement on the taxation of savings concluded with the European Union. For its part the European Commission was asked in May last by the EU's Council of Finance Ministers 'Ecofin' to renegotiate this agreement with Switzerland. The EU would like to close the lacuna in the present agreement which does not apply to all forms of savings, in a bid to prevent people from avoiding taxation as they protect themselves behind shell-companies.

The European company Airbus declared on 13th January 2014 that it had achieved an historic trade record both in terms of the numbers deliveries and orders of planes used in the world. In its press release Airbus maintained that it had risen above its 2013 goals having delivered 626 planes (493 A320, 108 A330, 25 A380) to 93 clients (15 of whom are new). The company which is established in Toulouse registered 1,619 orders ie 11 more than the previous year. Finally Airbus takes the lead in the aeronautics industry with 5,559 planes in use, whose value is said to total 809 billion dollars (around 591 billion euros). At the end of its press release the company added that it had taken on 3000 people over 2013.

On 20th January 2014 the European probe, Rosetta woke up after 31 months of deep space slumber. The space probe was launched in 2004 to analyse the comet 67P/Churyumov-Gerasimenko. With this probe the European Space Agency is hoping to understand the development of the solar system from its beginnings. The probe is due to meet the comet in the summer 2014 and follow it until 2015. It has completed 7 billion km since its launch in March 2004 and took around 6 hours to wake up completely.

On 16th January 2014 Eurostat indicated that inflation in the euro zone was slightly down in December 2013 lying at 0.8%, whilst it lay at 0.9% in November. In December 2012 inflation lay at 2.2%. The euro zone's monthly inflation rate totalled 0.3% in December 2013. In the EU inflation remained stable totalling 1%. The lowest annual rates were in Greece (-1.8%), Cyprus (-1.3%), Bulgaria (-0.9%) and in Latvia (-0.4%).

On the occasion of the publication of the 2014 "Global Risks" Report by the World Economic Forum, the international organisation points to the growing gap between rich and poor in a press release dated 16th January. Disparity in revenues, is according to the report, the risk that is mostly likely to have impact worldwide within the next ten years. The survey, which is used as a base in the report, was undertaken by over 700 experts across the world and analyses the world impact of 31 global risks in the next decade. After income disparity, meteorological events are the most likely to cause systemic shocks globally. Unemployment, under-employment and climate change as well as cyber-attacks follow after that.

The Air d'Islande Festival from Iceland to Paris will take place in Paris from 23rd January to 8th February 2014. Air Iceland is a project that started in 2007 to promote Icelandic culture in France. Films, musical and theatre events will be taking place at the Georges Pompidou Centre, the Point Ephémère, and the Finnish Institute.