The Organisation for Economic Cooperation and Development announced on 19th February 2014 that the OECD's GDP had grown in a stable manner at 0.6% in the fourth quarter of 2013. Growth remained highest in the USA (0.8%) and the UK (0.7%). It gathered pace at 0.4% in the EU compared with 0.3% in the previous quarter and at 0.4% against 0.1% in the euro zone. Amongst the euro zone countries Germany witnessed faster GDP growth at 0.4% in comparison with 0.3% in the third quarter. In France the GDP increased by 0.3% and in Italy by 0.1% for the first time since the third quarter of 2011. Finally over the whole year 2013 GDP in the OECD zone grew by 1.3% down in comparison with growth of 1.5% in 2012.

As part of the discussions for the free trade agreement between the EU/USA, the European Commissioner responsible for Trade, Karel de Gucht travelled to Washington on 17th February and met his American counterpart Michael Froman to prepare the fourth round of negotiations that will take place during the week of 10th March 2014. The transatlantic trade and investment partnership (TTIP) will be the most extensive in the world. The Union hopes to see a 28% leap in its exports.

On 18th February 2014 European Economy and Finance Ministers adopted conclusions relative to the annual growth assessment, stressing weak recovery, high unemployment and a fragmented banking system. They made little progress on the path to finding a compromise with Parliament over banking union and the single resolution mechanism in spite of their desire to finalise this issue before the European elections. Moreover they re-iterated their agreement to redraft the rules concerning deposit guarantee systems and adopted the conclusions on the warning mechanisms on macro-economic imbalances. Moreover they postponed the deadline of the migration over transfers and payments in the single payment area in euros (SEPA) to 1st August 2014. Finally they set the priorities for the 2015 budget.

After three days of talks Iran and the major powers (US, Russia, China, Germany, France, UK) came to agreement on the framework of comprehensive discussions as well as an action plan on Teheran's nuclear programme. This meeting was started under the presidency of the EU's High Representative for Foreign Affairs and Security Policy, Catherine Ashton and in the presence of Iranian Foreign Minister Mohammad Javad Zarif. In a press release Ms Ashton indicated that the next meeting between the two parties would take place on 17th March 2014 in Vienna.

The German next generation high speed train "ICE 3" is now running on the German rail system between Cologne and Stuttgart. The new model was presented on 18th February 2014 by the Deutsche Bahn and its builder, Siemens. From a technical point of view ICE3 is more reliable and not as energy hungry as its predecessors. Its engines are no longer placed at the head of the train in the locomotive but are spread along the entire train. Its nose, which has been redesigned and its roof are now more aerodynamic. At present there only four ICE3 trains running in Germany.

On 18th February 2014 Russia and Estonia signed an agreement on the demarcation of their joint border after more than 20 years of disagreement which followed the collapse of the USSR and the independence of the Baltic country in 1991. "I am sure that (...) it will strengthen the atmosphere of confidence and cooperation," declared Serguey Lavrov, Russian Foreign Minister after having signed the text alongside his Estonian counterpart, Urmas Paet. The treaty still has to be ratified by the parliaments of both countries. We should recall that the Russian legislator refused to approve the previous treaty on this issue in 2005.

During the 16th Franco-German Council of Ministers on 19th February 2014 German Chancellor Angela Merkel and French President François Hollande decided to employ the Franco-German Brigade in Mali as part of the EU's EUTM mission and supported sanctions against those behind the violence in Ukraine. They decided to implement the financial transaction tax - at least between themselves - by the time of the European Elections in May and to implement fiscal harmonisation between the two countries notably in the area of business tax. Finally they decided to establish an energy agency and to undertake "ambitious energy transition". On this latter subject the Foundation has published a study "Competitiveness, Energy, Climate: what should Europe's priorities be? ".

Matteo Renzi is now the new President of the Italian Council. He was sworn in together with 16 members of his government, on 22nd February 2014 at the Quirinal Palace, the HQ of the presidency of the Italian Republic. The government which comprises women (50%) and also some new faces is the result of discussions between the Democratic Party (PD), the centrists and the New Centre Right (NCD). Angelino Alfano remains as Interior Minister, Maurizio Lupi in transport and Beatrice Lorenzin in Healthcare. Amongst the ministers retained but who will be changing portfolio: Maurizio Martina in Agriculture, Dario Franceschini in Culture, Roberta Pinotti in Defence, Gianluca Galetti in Environment. Notably Pier Carlo Padoan will be taking over Economy and Federica Mogherini, Foreign Affairs. Former Regional Affairs Minister Graziano Delrio has been appointed Secretary of State at the Presidency of the Council.

On 20th February 2014 Czech Prime Minister Bohuslav Sobotka met President of the European Commission, José Manuel Barroso and European Parliament President, Martin Schulz. He promised to start the ratification process of the "Budgetary Pact" officially called Treaty on Stability, Coordination and Governance (TSCG). The Czech Republic refused to sign this agreement which encourages convergence of economic and monetary policies. On this issue you can read the information file drafted by the Foundation.

The British Council of Ministers relocated exceptionally to Scotland to the oil port of Aberdeen on 24th February 2014 and took advantage - on the pretext of an agenda point on the North Sea black gold - to step up its campaign against the independence of this region. It is the third time in a century that the British government has met in Scotland, an area which is wealthy in hydrocarbons. Chance or an illustration of the gap that separates the British and Scottish authorities, both governments met on the same day just ten kilometres apart to discuss oil. Whilst the sharing of oil resources is the focus of debate over independence a report ordered by the British government in June 2013 stresses the need for ambitious reform to maximise production in the North Sea. To date 42 billion equivalent barrels of oil (boe) have been produced and it is "estimated that some 12 to 24 billion boe might still be extracted".

Events are gathering pace in Ukraine 24 hours after the signature of an agreement. On 22nd February 2014 Ukrainian MPs impeached President Viktor Yanukovych and set 25th May as the date for the next presidential election. MPs declared that the head of State had quit Kiev and was constitutionally unable to exercise office. Mr Yanukovych had previously denounced a "coup d'état" and refused to resign. Moreover former Prime Minister Yulia Tymoshenko condemned in 2011 for abuse of power was freed from her prison hospital where she had been serving her sentence for the last 30 months. She travelled immediately to Kiev to Independence Square (Maidan) where she addressed thousands of government opponents. The fight for freedom continues. Oleksandr Turchinov is now the new interim leader of Parliament. The EU's High Representative Catherine Ashton was in Kiev on 24th February. The fight continues for freedom.

UN Secretary General Ban Ki-moon requested on 20th February 2014 the rapid deployment of "at least 3000 additional troops and policemen," in Central African Republic. Speaking of the military personnel already present or planned he added: "We need more and fast". This is an intermediary phase before the deployment of the Blue Berets to Central Africa.

According to Eurostat statistics published on 24th February 2014 the annual inflation rate of the euro zone remained stable at 0.8% in January 2014 in comparison with December 2013. A year ago it lay at 2%. The monthly inflation rate lay at -1.1% in January 2014. The EU's annual inflation rate lay at 0.9% in January 2014 against 1% in December 2013. A year ago it lay at 2.1%. The monthly inflation rate was -0.9% in January 2014.

In a press release on 19th February 2014 the EIB indicated that it was stepping up its support of European SME's. Werner Hoyer, its President declared "With 21.9 billion € support to SME's has become the main contribution to our strategic goals. It is an historic record!" Amongst its sectors of investment the EIB has granted a great number of loans to European SMEs placing emphasis on research and innovation, which has led to greater competitiveness on the part of the European economy. Worldwide the EIB has signed loans in support of the climate and strategic infrastructures. Finally the EIB has launched a programme devoted to young people in view of participating in Europe's fight to counter youth unemployment.

The Winter Olympic Games ended on 23rd February 2014. Of the 89 countries which took part in these games only 26 left with medals. In the lead, the European Union with 135 medals, ahead of Russia (33), the USA (28), Norway (26) and Canada (25). Of the 99 gold medals 37 were won by EU member countries; the latter also won 48 of the 100 silver medals and 50 of the 100 bronze medals. In the EU the Netherlands dominate the ranking with 8 gold medals and 24 overall. They are followed by Germany (8 gold medals, 19 in all), Austria (4 gold medals, 17 overall), France (4 gold medals, 15 overall) and Poland (4 gold medals, 6 overall).

The Marmottan Monet Museum in Paris is celebrating its 80th anniversary in 2014. On this occasion an exhibition is running until 6th July 2014 entitled "The Impressionists in Private". It offers a unique opportunity to discover works that in the main have never been on show. 80 paintings and twenty drawings by Jean-Baptiste-Camille Corot, Eugène Boudin, Johan Barthold Jongkind, Édouard Manet, Frédéric Bazille, Claude Monet, Pierre-Auguste Renoir, Edgar Degas, Camille Pissarro, Alfred Sisley, Gustave Caillebotte, Berthe Morisot, Armand Guillaumin, Paul Cézanne, Mary Cassatt, Eva Gonzalès and Auguste Rodin provide a panorama of the history of Impressionism via these unique pieces of work.