From 21st January to 4th February a delegation of IMF and European Commission experts were in Bucharest to assess the country's economic situation. It ensured that Bucharest was respecting its deficit objectives. It noted that most of the performance criteria had been achieved at the end of December and the structural reforms had been or were about to be finalised. Finally it remarked that work to reduce the number of state enterprises had been interrupted but that some work had been started to continue the process. The monetary policy was deemed adequate and should enable the country to return to the loans market.

On 4th February 2014 the OECD announced that annual inflation since December 2012 had increased slightly to 1.6% in December 2013 in all OECD countries. This increase is linked to that of energy prices, according to the OECD report. In the euro zone inflation increased, rising from 0.9% in December against 0.8% in November. The main EU country where inflation had risen was Germany (1.4% against 1.3%). Inflation was stable in France and Italy (0.7%) whilst it slowed slightly in the UK (2% against of 2.1%).

The European Central Bank announced on 6th February 2014 that the interest rate on the main refinancing operations as well as those on the marginal lending facility and the deposit facility will remain unchanged, at 0.25%, 0.75% and 0% respectively. The ECB is forecasting increased growth in 2014 and a decrease in inflation. It is counting on continued recovery to counter the worrying weakness of inflation. ECB President Mario Draghi believes that there is no reason to fear a period of deflation right now - which means a decrease in prices, wages and growth. "There is no deflation in the euro zone," he declared at the monthly monetary policy press conference to justify the upkeep of the main interest rates at 0.25%, its lowest ever level.

On 7th February 2014 for the first time in a year and a half the Central Bank of Ukraine made a clear reduction of the official rate of exchange of the local currency against the dollar. According to data available on the institution's website the official rate was set at 8.70 hryvnias for one dollar against 7.99 in July 2012.

The Monetary Policy Committee at the Bank of England voted on 6th February 2014 in support of the upkeep of the Bank's rate at 0.5%. The rate has remained unchanged since 5th March 2009 when it was reduced by 0.5 points.

MEPs adopted new measures, 580 votes in support, 41 against and 48 abstentions on 5th February 2014 to step up air passenger rights. Citizens whose flight is delayed should be able to access compensation more easily and receive better information. The new measures oblige airlines to introduce contact points in airports in order to inform passengers of their rights, complaints procedures, reimbursement and re-scheduling of flights.

On 5th February 2014 MEPs adopted a draft bill 498 votes in support, 56 against and 68 abstentions, that aims to improve the rights and working conditions of seasonal workers from third countries. The measures mean for example that exploitation will be stopped and also that it will no longer possible for temporary work to become permanent. The European Commission indicated that the Union hosted more than 100,000 workers yearly.

On 4th February 2014 MEPs adopted 573 votes in support, 62 against and 44 abstentions a new legislative project so that citizens and businesses moving to another country of the EU face less red tape. These measures aim to simplify procedures guaranteeing the authenticity of certain official documents like birth and marriage certificates. The text still has to be approved by the Member States.

On 4th February 2014 MEPs adopted 640 votes in support, 18 against and 22 abstentions of new measures concerning copyrights to facilitate the granting of licences for the use of music on line in the Union. These measures should guarantee greater protection as well as faster copyright payment. Finally the legislation should also stimulate the creation of on-line music services for consumers.

On 6th February 2014 MEPs supported the Parliament's negotiators, 441 votes in support, 141 against and 173 abstentions regarding the bank resolution mechanism which should help banks in difficulty. Negotiations between the Parliament's representatives and the Member States, whose positions diverge, are due to continue in order to reach agreement on the bank resolution mechanism which is the last stage towards the implementation of Banking Union. European Parliament refused that the resolution funds linked to the mechanism be based on an intergovernmental treaty and for national governments to have the final say, preferring to grant this right to the Commission. Moreover MEPs believed that 10 years was too long a period for the implementation of the full pooling of funds which should total 55 billion euro in the end.

In a non-legislative resolution MEPs rejected a proposal by the European Commission on 6th February 2014 which would allow pork to be labelled as having been "raised" in a Union State after having only spent four months in situ. Moreover MEPs encouraged the Union to base itself on the stricter rules that have been set for beef as far as pork, mutton, goat and poultry were concerned irrespective of whether these were fresh, refrigerated or frozen.

On 4th February 2014 MEPs adopted an additional transitional period to enable businesses and banks to adapt to rules governing transfers and payments (SEPA). These measures aim to avoid payment problems in the event of a delay in the implementation of European measures.

The heads of the two main employers' bodies in France and Germany, Pierre Gattaz (Medef) and Ulrich Grillo (BDI) met in Paris on 5th February 2014 to launch a joint appeal to their governments to support business competitiveness and employment in Europe. The call was launched in view of the Franco-German Council of Ministers planned for 19th February and before the European Council on 20th and 21st March. The two organisations have drawn up recommendations to strengthen Europe's competitiveness; reducing the cost of labour, a common energy policy, better access by businesses to financing and reduced regulatory costs. They are also demanding a revival in research and innovation in Europe, the completion of the internal market and significant progress in the opening of world markets to European products.

German Defence Minister Ursula von der Leyen travelled to Mali on 6th February 2014 one day after the German government's decision to increase the number of its troops stationed there (from 180 to 250). The German Parliament still has to approve this contingent increase. Ursula von der Leyen is advocating greater involvement by the German army abroad. "We have the capability to take up new commitments." Germany's goal is also to support its partner, France which is intervening at present in Mali and Central Africa.

Referred to in 2012 to decide whether European law was compatible with the ECB's decision to undertake Outright Monetary Transactions, the German Constitutional Court in Karlsruhe, the country's highest legal body decided to the leave the decision to the European Court of Justice. It is the first time that the German Court has done this - its most recent decisions have been examined closely by the EU's Member States since they have come to define the development of the crisis in Europe. The Court believes that the ECB is going beyond its remit as it bids to buy OMT's in that the treaties stipulate that the ECB has to limit itself to supporting the EU's economic policy but it stresses that as a German federal court it does not have the mandate to emit a decision on action taken by a European institution. It is therefore up to the European Court of Justice to decide whether this decision is legal or not.

Germany's trade surplus reached a record peak in 2013 in spite of a slight decline in December announced the Federal Statistics Office, Destatis on 7th February 2014. Last year this surplus rose to 198.9 billion euro against 189.8 billion in 2012 in gross data, thereby improving its previous 2007 record (195.3 billion euro). This is its highest level since the launch of statistics collation in 1950 said the institution.

Lithuanian President Dalia Grybauskaite travelled on 8th February 2014 to Erfurt in Germany to speak with German Chancellor Angela Merkel. They discussed the strengthening of bilateral economic and trade relations between Germany and Lithuania, security issues, as well as Lithuania's integration prospects in terms of the euro zone by 2015. The Eastern Partnership was also on the agenda.

Polish Prime Minister Donald Tusk continued his tour of European capitals which started on 29th January 2014 in a bid to find a settlement to the Ukrainian crisis. He travelled on 3rd February to Tallinn to meet his Estonian, Latvian and Lithuanian counterparts, then on to Stockholm for talks with Swedish Prime Minister Fredrik Reinfeldt and Finnish Prime Minister Jyrki Katainen. Mr Tusk finally telephoned the Ukrainian opposition leaders on 6th February to discuss their claims vis-à-vis the government for the reform of the Constitution and the electoral law.

On 6th February in a non-legislative resolution 2014 MEPs encouraged the EU and the Member States to step up diplomatic pressure on Ukraine as well as to adopt targeted measures such as the freezing of assets and travel bans against those responsible for the deaths of demonstrators. They called on the introduction of financial support to the country and also asked for the immediate and unconditional liberation - political rehabilitation of all demonstrators, illegally held political prisoners including Yulia Tymoshenko. However during the vote the EU's High Representative Catherine Ashton said that the "Union was not implementing a sanctions strategy at present". At the same time MEPs asked Russia to respect the sovereignty of Ukrainian citizens concerning their choice of political orientation.

On 10th February 2014 the EU's 28 Foreign Ministers discussed the situation in Ukraine. They said they were concerned about the political crisis in the country and called on the authorities to respect fundamental rights. The EU is still available to support political and economic reform in the country and said that it still wanted to sign an association agreement with Kiev. Europe and the USA are working on an alternative aid plan. However the Ukrainian crisis has led to disquiet amongst the western leaders with Angela Merkel deeming comments regarding the role played by the EU made by one American diplomat, Victora Nuland as "unacceptable". On 9th February 2014, around 70, 000 demonstrators met in Independence Square in Kiev asking for a return to the 2004 constitution as proposed by the opposition to the Ukrainian parliament. On 8th February Ukrainian President Viktor Yanukovych travelled to Sochi in Russia for the launch of the Olympic Games. He met his Russian counterpart V. Putin with whom he discussed the situation in Ukraine. Moscow has decided to put the economic aid promised to Kiev on hold until the appointment of a new Prime Minister.

The International Institute for Strategic Studies presented its annual report on 5th February in London entitled "The Military Balance 2014". The report lays out the military and defence capabilities of 171 countries and includes essays on the developments in armed conflict in the world. Graphs also present comparative statistics on defence, its economic aspects and ongoing research in the areas of infantry, the marine and aviation.

On 3rd February 2014 the European Commission published the EU's first anti-corruption report which stresses that corruption affects all Member States and that it costs them nearly 120 billion euros per year. Even if Member States have taken several measures in the previous years results are unequal and additional work has to be undertaken to prevent and punish corruption more effectively. The report highlights the nature of what corruption is, how developed it is and the efficacy of the measures taken by the Member States to counter it.

The European Centre to counter cybercrime presented its first report on 10th February illustrating what it has done to help protect citizens and businesses in Europe since it was launched in January 2013.

According to a Commission report published on 5th February 2014 the common rules governing imprisonment, adopted unanimously by the Member States are only being implemented in around half of the Member States. The report looks into the implementation of three framework decisions covering the transfer of prisoners, probation and alternative sanctions as well as the European Supervision Order. In virtue of these three measures prison sentences, probationary decisions or alternative sanctions and supervisory measures can be executed in an EU country other than the one in which the prisoner has been sentenced or where the person is awaiting trial. It might be a country whose nationality he carries, his usual place of residence or another EU country with which he has links. The Commission is inviting the Member States to implement the common rules regarding those in prison or those awaiting trial in another EU country.

After ten months of work and 1.5 million euros in investments the house of Romantic composer Felix Mendelssohn-Bartholdy (1809-1847) reopened its doors on 3rd February 2014 in Leipzig. It is the only house having belonged to Mendelssohn that remains. The renovated building comprises the first floor apartments dating back to the 19th century and a museum on the ground floor. For the inauguration the museum acquired new original documents including a water colour by the composer.

The Van Gogh Museum in Amsterdam is running an exhibition from 14th February to 1st June 2014 on Félix Vallotton (1865-1925) entitled "Fire beneath the Ice". The exhibition shows a mixture of paintings and prints. Nearly 60 paintings from museums and private collections offer an overview of all of the artist's work.

The Belvedere in Vienna is putting on an exhibition together with the Berlinische Galerie from 14th February to 15th June 2014 "Vienna-Berlin". It is a retrospective devoted to artistic relations maintained by Vienna and Berlin at the end of the 19th century until the 1930's. Those forty years were marked by three major artistic movements: the Secessionists of the 1900's, Expressionism and New Objectivity. The exhibition brings together the works of Max Beckmann, Otto Dix, George Grosz, Ernst-Ludwig Kirchner, Gustav Klimt, Oskar Kokoschka, Max Liebermann, Egon Schiele ... in all the exhibition presents 90 artists and 200 pieces of art.

The Kunsthaus in Zürich is running an exhibition devoted to Expressionism in Germany and France entitled "From Matisse to the Blue Rider" The exhibition highlights the beginnings of Expressionism showing that this movement was born in a cosmopolitan spirit and that it was marked by a series of rich international exchange. The 107 pictures and prints on show come from both public and private collections in Europe and America.

The Tate Britain in London is running an exhibition on the work of Richard Deacon, a British sculptor and winner of the Turner Prize until 27th April 2014. The exhibition focuses on materials and their use by the artist between language and materialism. Three seminars will also be organised by the museum on Richard Deacon's work from February to March 2014.