EM Daily Brief

Photo : Public Security Department of Icelandic Police/REUTERS

EM in Brief: Volcano eruption occurs for fourth time in Iceland

By Rosemary Kurian

ICELAND
Volcano eruption occurs for fourth time
On 17 March, Deutsche Welle reported on the volcano eruption on the Reykjanes Peninsula in Iceland, for the fourth time in three months. Iceland’s Meteorological Office noted that the eruption caused the creation of a fissure almost three kilometres long wedged between Stóra-Skógfell and Hagafell mountains. The eruption was expected by authorities after witnessing signs of accumulating magma, and hundreds of people were evacuated from the Blue Lagoon thermal spa, a key tourist location. No flight disruptions in the airspace were reported. Iceland sits on a volcanic hotspot, located between the Eurasian and North American tectonic plates. The country has 30 active volcanoes, being a popular country for volcano tourism, and therefore is experienced with management of volcanic eruptions. (“Iceland: Volcano erupts for fourth time in 3 months,” Deutsche Welle, 17 March 2024)
 
SLOVAKIA

Demonstrations spark over government’s plan to control brodcasting
On 16 March, Deutsche Welle reported on the protests by thousands of Slovaks against the government of Robert Fico, Slovakia’s Prime Minister, for planning to control the Radio and Television of Slovakia (RTVS), the country’s public broadcaster, which could threaten press freedom in the country. The demonstrations were planned by Progressive Slovakia (PS) and Freedom and Solidarity (SaS), the two liberal oppositions to the government. Martina Simkovicova, the country’s Culture Minister, drafted the plan to disband the RTVS and transform it into Slovak Television and Radio (STaR). A seven-member council that would be nominated by the government and the parliament would select the director of STaR, who could be dismissed any time without an explanation. The plan was criticised by the European Broadcasting Union (EBU) which owns the RTVS. Demonstrations took place in Bratislava and Košice, Slovakia’s largest cities. Fico’s earlier plan to change the justice system also sparked fears among the public over a threat to the rule of law. (“Slovakia: Thousands protest public broadcaster revamp plan,” Deutsche Welle, 16 March 2024)
 
SPAIN

Farmers continue to protest demanding ease of CAP rules
On 17 March, Deutsche Welle reported on the demonstration by thousands of Spanish farmers with tractors in Madrid, against the EU’s agricultural policies that they claim are a financial burden. Organised by the Union of Unions, the march took place from the Ministry of Ecological Transition to the Ministry of Agriculture after the EU’s proposal to ease the rules of the Common Agricultural Policy (CAP), which they believe are not enough, their products more expensive that non-EU imports. Luis Cortes, a member of the trade union, warned the government to focus on environmental regulations rather than agricultural limitations, expressing frustration over European bureaucracy. (“Spanish farmers protest in Madrid despite EU concessions,” Deutsche Welle, 17 March 2024)
 
REGIONAL

EU signs EUR 7.4 billion multi-sector deal to ease economic and energy dependency
On 17 March, according to Deutsche Welle, the European Commission announced a financial package worth EUR 7.4 billion to Egypt, to aid in stabilising its economy and reduce dependence on Russian gas. It also includes a grant to address the flow of migrants to Europe from the region. The EUR 7.4 billion was given in EUR five billion in macro-financial, EUR 1.8 billion in investments and EUR 600 million in grants from 2024-2027, to support Egypt’s declining economy. The EU-Egypt deal has boosted their relationship into a “strategic partnership” with aims to increase cooperation in energy, trade and security. The Egyptian economy has been hit due to massive infrastructure projects, the conflict in Gaza as well as its implications on tourism and shipping through the Suez Canal, a key income earner for Egypt. The IMF agreed to offer it a USD 8 billion loan package. Further, the risk of economic instability in Egypt has prompted increased migration into Europe. The EU delegation’s visit in Cairo headed by Ursula von der Leyen, the President of the European Commission, also included Giorgia Meloni, the Italian Prime Minister, and Kyriakos Mitsotakis, the Greek Prime Minister, who have been receiving the majority of migrants to Europe. Human Rights Watch, a US-based NGO, stated that the deal “strengthens authoritarian rulers while betraying human rights defenders.” (“EU to provide Egypt €7.4 billion funding package,” Deutsche Welle, 17 March 2024)

EU demands firms to adhere to regulations to prevent environmental damage and forced labour
On 16 March, according to the BBC, many of the EU countries backed a legislation that requires companies to ensure that their supply chains does not cause environmental damage or employ forced labour. The Corporate Sustainability Due Diligence Directive (CSDDD) was backed by 17 out of 27 members without any votes against it. The directive aims at requiring European companies to adhere to environmental and human rights regulations and prevent any potential harm. Over several rounds of negotiations, a compromise was reached with only larger businesses with more than 1000 employees and a net turnover of at least EUR 450 million being affected. The original draft was meant to affect firms with more than 500 employees and a minimal revenue of EUR 150 million. Key objections were raised by Germany and Italy with multiple small and medium businesses, who feared that their economies would be hit with the legislation. The draft must be passed by the European Parliament to become law. (Kathryn Armstrong, “EU backs law against forced labour in supply chains,” BBC, 16 March 2024)

Climate activists protest against exploration of fuel deposits in the North Sea
On 16 March, The Guardian reported on the action by climate activists across Europe to block access to the North Sea oil infrastructure in the form of a pan-Europe civil disobedience protest. Activists from Germany, the Netherlands, Norway and Sweden have blocked refineries, ports and gas terminals in their respective countries, to show their disapproval of the exploitation of the fuel deposits in the North Sea. Activists in Scotland staged banner drops in areas considered as of “strategic importance.” and actions are expected in Denmark. Activists began their protests after a report found that no giant fossil fuel producing country was planning to stop drilling into their facilities soon to meet the temperature targets set at 1.5 Celsius by the Paris Agreement. The UK, Germany, Netherlands, Norway and Denmark failed to align their energy policies with their climate promises, with Norway and the UK farthest away from the promises made in the Paris Agreement, according to the report. (Damien Gayle, “Climate activists across Europe block access to North Sea oil infrastructure,” The Guardian, 16 March 2024)

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