Central and Eastern Europe: China's Stepping Stone to the EU?

The Chinese footprint in Europe has expanded significantly over the last decade. In 2015, Chinese investment in the European Union (EU) reached a record high of USD 23 billion, from less than USD 3 billion in 2009. In this context, Central and Eastern Europe (CEE) also receives an unprecedented level of attention. To further economic cooperation with the region, the fifth "16+1" Summit between China and 16 CEE countries concluded on November 5, in Riga, Latvia where Chinese authorities played a key role in closing new deals.

China-CEE cooperation is an initiative similar to other Chinese market penetration strategies, but also one of the main platforms aimed at enhancing multilateral cooperation within the framework of the Belt and  Road Initiative (BRI). This initiative, a modern Silk Road, promotes the economic integration of China, Asia, and Europe by improving infrastructure and increasing trade and investment.

Within this broader initiative, Europe is emerging as one of the top destinations for Chinese capital. And the countries of CEE represent a very different market proposition, and a potential platform for China to leverage its growing economic and political influence with the EU as a whole.

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China's "go global" approach

As the Chinese economy matures, Outbound Foreign Direct Investment (OFDI) is becoming one of its main drivers to promote economic growth. The first Chinese "go global" phase in the early 2000s aimed at exploring viable market opportunities, trade relations and access to natural resources. Most of the investments were channeled to Asia, Africa and Latin America. China's main objective is to move up in the high technology ladder, meaning the current phase of investment is focused on advanced technologies, knowledge industries, transportation and distribution networks and global market influence. According to UNCTAD data, Chinese global OFDI has been on an impressive growth trajectory for the last decade, hitting around $130 billion in 2015, turning China into a key investor representing approximately 10 percent of the global ODFI outflows.

China and the EU

In the eyes of Chinese investors, Europe is portioned into two distinct zones consisting of the West and the East, based on variances in economic wealth and technological advancement. This drives a diversified strategy of Chinese investments in Europe.

Chinese FDI in Western Europe, mainly in the United Kingdom, Italy, France, Portugal and the Netherlands is aimed at engaging with Europe's strategic assets and research and development networks. Merger and acquisition (M&A) activities and joint ventures have been the main market entry mechanism to date. Key target sectors include real estate and hospitality, automotive, financial and business services and information technology. In particular, Chinese companies are interested in acquiring companies with strategic assets giving them access to established brands, technology and distribution channels.

Additional overseas opportunities for Chinese companies in the EU have been created by the economic crisis in Europe and the need for capital, the privatization process and post-crisis restructuring. Government-backed Chinese State Owned Enterprises (SOEs) remain the dominant players, supported by financial assistance from state-run and commercial banks and sovereign funds. Interestingly, sectors such as finance, telecoms, logistics and public procurement are restricted to foreign investors in China but open to Chinese investors in the EU. This amplifies the political aspect of asymmetrical market access and lack of reciprocity. In fact, European FDI in China is stagnating or even declining.

Chinese interests in CEE

The 16 CEE countries present a very heterogeneous group, including 11 EU countries and five EU candidate countries in the Balkans. The differences across the region are significant in many aspects, including the level of economic development, per capita income and institutional framework. Despite this, China has clustered the CEE as one region that maps to its main objectives: transportation networks for the Silk Road, and investment goals for further capital expansion across the EU.

There appear to be four principal reasons for China's growing interest in CEE:

First, China is mainly attracted to the region for its strategic position and ability to reduce transportation costs for delivering Chinese goods to Western Europe. One of the main outcomes of the Riga conference was a deal on the construction of the Belgrade-Budapest high-speed railway. This major infrastructure project, expected to reduce significantly the transport time of Chinese products into Europe, will be funded by the Exim Bank (USD 2.5 billion) and implemented by China Railway and Construction Corporation.

Second, the CEE represents a collective population of over 120 million with rising per capita income levels, offering new market opportunities, thus heightening the region's appeal to Chinese market-seeking FDI.

Third, Chinese investment interests within the CEE region appear to be very strongly related to ongoing privatization opportunities, including large scale infrastructure projects and public procurement opportunities.

Fourth, Chinese investment is expanding towards more efficiency-seeking FDI influenced by human capital assets in the region, and relatively low labor costs. As labor costs rise in China, manufacturers may find it cheaper to locate production facilities closer to their EU destination markets.

While Chinese investment in CEE remains at modest levels (only in Hungary the aggregate Chinese FDI is above 1 percent of GDP), it is growing rapidly. The most advanced and largest countries in the region have received the largest share investment over the last 15 years: Hungary (USD 2 billion), Romania (USD 741 million), Poland (USD 462 million) and Bulgaria (USD 222 million).

In turn, attracting Chinese investment to the region remains a key goal of the CEE countries. Eastern Europe economies account for 8 percent of total Chinese investment in Europe. CEE leaders have been courting Chinese direct investment in the hopes of stimulating job creation and infrastructure growth. In 2013, China promised, and reiterated again in Riga, to create an USD 11 billion "China-CEE Fund" to finance projects in CEE. Despite this pledge, Chinese investment comes with many strings attached. Projects have to be highly viable economically, require Chinese companies to be the main contractors and Chinese labor to implement the projects.

Looking Ahead

Arguably, there also exists a political opportunity behind China's interest in the CEE region. By building up assets in CEE and fostering competition among the target countries, China is first increasing its economic and political influence in the region, and thus, enhancing its bargaining power with the EU, especially in light of the much-expected Bilateral Investment Agreement (BIA) between the EU and China, first rolled out in 2012 and currently under negotiation. In order to successfully negotiate the BIA, the EU needs to speak with one voice. Arguably, this may become more difficult as it appears that the relationship between China and the EU continues to be primarily driven by individual member state interests to the detriment of wider EU objectives.

The "16+1" initiative will create more opportunities for China to direct its products, capital, labor and services to the CEE. However, Chinese spillover in this region will not remain confined to infrastructure, trade and investment, but may also slowly extend into politics, culture and security (e.g. in Serbia). Consequently, it is increasingly important for European policymakers to pay closer attention to China's investment strategies in the CEE countries. In order to maximize China's engagement in Europe, while simultaneously hedging against its risks, perhaps it is time to initiate a new debate about how to best coordinate a comprehensive response at the EU level taking into account both the benefits and consequences of Chinese investment in region.

Valbona Zeneli is a professor of national security studies at the George C. Marshall European Center for Security Studies. The views presented are those of the author alone and do not necessarily represent the views of the George C. Marshall Center, German Ministry of Defense or the U.S. Department of Defense.

Source: Central and Eastern Europe: China's Stepping Stone to the EU?

'Tis the Season to Get Deals on Airline Tickets

If buying airline tickets isn't on your holiday shopping list, you may be missing out on some of the best travel deals of the year.

While most Americans are busy with family and buying gifts this time of year, Cyber Monday is also the time when airlines start offering flash sales and cheaper airfares. While many deals start on Cyber Monday, they'll continue through the end of the year.

Go to Consumer Reports' 2016 Holiday Gift Guide for updates on deals, expert product reviews, insider tips on shopping, and much more. Be sure to check our Daily Gift Guide, and sign up to get an e-newsletter with top picks, trusted product reviews, and the latest news from Consumer Reports. 

"It's a lot like doorbuster sales," says Patrick Surry, chief data scientist at airfare research site Hopper, which uses data to predict and analyze prices. "You may only see these prices for a few hours to a few days, depending on how rapidly they sell."

The key to getting a good deal, says Surry, is to not look for airfares during typically heavy travel periods, such as your kid's spring break.

"The best prices will be for less common travel times," he explains. Deals on airfares you buy now can be good for travel as far off as next summer.

So how do you go about finding the lowest airline tickets?

Sign up for price alerts. When you know you need to travel on specific dates, there's a temptation to lock in your airfare sooner rather than later. "That's actually the worst thing you can do because you don't understand what the trends are," says Matthew Ma, co-founder of The Flight Deal.

Ma says a better strategy is to become familiar with the prices for a trip you are considering by signing up for daily price alerts through Google Flights or Kayak. "Every day you'll get an alert to see what the price is, and if you see the price drop, you should buy," said Ma. "The mentality should always be track, see what the trends are, and buy when it's below."

Buy quickly. Whether you're tracking prices for an upcoming trip or you see a flash sale that seems too good to pass up, Ma says it's important to act quickly. "If you see a good deal, buy it and then figure out whether or not it makes sense to keep it," he says.

Department of Transportation regulations give you up to 24 hours to cancel airfare booked for a trip that is at least seven days away. There can be variations in how airlines implement this rule, so double-check the airline cancellation policy before you submit your credit card information.

Let us know in the comments below.

Don't follow business travelers. You're more likely to see deals on airline tickets during off-peak travel seasons and for travel on Tuesdays, Wednesdays, and Saturdays, when there are fewer business travelers. But it's possible to find a deal for popular travel times as well, especially if you're willing to visit less-traveled destinations, says Surry. That's especially true if you need to buy last-minute tickets.

Consider the cities you're flying to. If you've got London or Paris on your bucket list, you might not see many airfare discounts. But you are more likely to see travel deals for less popular European cities. If you do, you could buy one of those and then catch a connecting flight on one of Europe's budget airlines or take a train or a bus. 

"If you chase the deal and not the destination you can save a lot of money." Ma says. "The distance between two major cities in Europe is two hours, three hours max." Flying into Milan rather than Rome, for example, can save hundreds of dollars, and traveling between the two cities can be relatively easy and inexpensive once you're abroad.

Understand the fees. Comparing airfares can be complicated partly because there are so many budget airlines that charge extra for everything from carry-on luggage to preferred seating. Before booking a travel deal that seems too good to be true, make sure you understand any additional fees you may be charged. "You see this cheap-looking price, but you could end up paying more by the time you bring a checked bag," says Surry.

Similarly, be sure to know the terms of the card you use to book your airfare. Ma recommends using a credit card rather than a debit card whenever possible. This makes it easier to cancel your flight within 24 hours. Your credit card may also provide travel insurance, or reimbursement for certain travel expenses.

Source: 'Tis the Season to Get Deals on Airline Tickets

November route roundup: Where airlines are adding service

Hot summer temperatures have affected one airline's schedule at Las Vegas McCarran International Airport. (Photo: Jeremy Dwyer-Lindgren / Special )

Airlines are constantly tweaking their schedules, trying to find profitable new routes or pulling the plug on ones that have underperformed. It's part of their never-ending quest for efficiency and profitability. Airports and communities also court these new services.

There are dozens of changes to airline routes each month. Here's a look at some of the most interesting from the past month.

Too hot to fly? Norwegian Air suspends summer Las Vegas flights

Las Vegas summers apparently are too hot for one budget airline. European low-cost carrier Norwegian Air will suspend its four Las Vegas routes in March, saying hot weather there has created performance issues for its heavily loaded Boeing 787 aircraft.

"Norwegian Air is making our Las Vegas routes seasonal for 2017 as the planes' ability to take off during high-temperature periods was limited at times this past summer," Norwegian spokesman Anders Lindström told USA TODAY. "This unfortunately led to a few delays earlier this year, which is something we do not want to repeat during the summer of 2017."

Norwegian Air flies from Las Vegas to four European destinations: Copenhagen, Denmark; London Gatwick; Oslo, Norway and Stockholm, Sweden. Anders says the routes have performed well, but the carrier has decided to adjust its schedule there rather than risk continued operational delays during the summer months. Flights operating on Norwegian Air's summer schedule typically operate from March through November.

USA TODAY

'Super 80 Send Off': American retiring 20 MD-80s in 1 day

Commercial airliners face performance limitations in extreme heat, which results in less-dense air that makes it more difficult to achieve lift. The issue occasionally becomes a concern for airports in the U.S. Southwest, typically when temperatures approach 110 degrees Fahrenheit.

For Norwegian, the issue is compounded by the carrier's high-density seating configurations that add extra weight to its planes. Norwegian packs 291 seats on to its Boeing 787 -8 models and 344 on to its bigger 787-9s. By comparison, United's 787-8 and 787-9 Dreamliner models seat 219 and 252 passengers, respectively.

With that extra weight, Norwegian has calculated that its Dreamliners shouldn't take off if ground temperatures hit 104 degrees (40 Celsius). The average daily high temperature for Las Vegas tops 104 degrees nearly 40 days each year, according to the National Weather Service.

For now, Norwegian will convert its Las Vegas routes from year-round to seasonal service. Going forward, the carrier says it's looking at options – including flights that operate during cooler hours of the day – that would allow it to resume a full-year schedule in 2018.

Pittsburgh lands two new routes to Europe

Pittsburgh International Airport landed two new routes to Europe in November, announcing new service on discount carriers WOW Air of Iceland and Condor Airlines of Germany.

WOW's service to the Icelandic capital of Reykjavik will begin June 16 while Condor's seasonal nonstop service to Frankfurt launches a week later.

The service on WOW will give Pittsburgh its first year-round trans-Atlantic service since 2011.

USA TODAY

Photo tour: Behind the scenes at Los Angeles International Airport

The airport has long courted new links to Europe since the demise of US Airways' once-gargantuan hub there.

Pittsburgh's overall flight schedule remains a fraction of what it was in the early 2000s, but it has made headway in rebuilding some of its domestic network. However prestigious trans-Atlantic routes to Europe have been slow to return.

Suddenly, Arizona's Phoenix-Mesa airport goes international

Arizona's Phoenix-Mesa Gateway Airport  – a secondary airport for the greater Phoenix area – landed its first-ever international airline on Nov. 16. Its second came just two days later. Both airlines are based in Canada and both will fly to the same two destinations: Calgary and Edmonton in the province of Alberta.

NewLeaf Travel Co. was the first to announce the new service, revealing plans to add three weekly flights to Calgary starting on Jan. 19 and one weekly flight to Edmonton starting Jan. 21. The company -- dubbed a "virtual airline" by some -- sets schedules and fares but outsources all of its actual flying to Canadian operator Flair Airlines, which operates Boeing 737-400 flights on behalf of NewLeaf.

Looking to protect its home turf, Calgary-based WestJet announced just two days later that it would fly the same routes. WestJet also will fly three weekly flights to Calgary and one to Edmonton, launching its routes on exact date that Newleaf begins its service on the routes.

"WestJet is Canada's low-fare leader and we will defend that position,'' WestJet spokesman Robert Palmer said via email to The Arizona Republic. "We are firm believers in healthy competition, which benefits consumers."

WestJet will have one advantage over NewLeaf among U.S. customers. NewLeaf operates under a Canadian charter license that only allows it to sell itineraries departing from Canadian airports. WestJet faces no such restrictions and can sell itineraries originating at either U.S. or Canadian destinations.

WestJet already serves Phoenix Sky Harbor airport with year-round service to Calgary, Edmonton and Toronto as well as seasonal service to six other Canadian destinations.

JetBlue invades New York-Boston 'shuttle route'

JetBlue began flights between New York LaGuardia on Oct. 31, launching service on a route that has long been dominated by the Delta and American (formerly US Airways) shuttle services.

JetBlue was able to start six weekday round-trip flights between the cities, freeing up space for the service by shifting some of its previous LaGuardia service to New Jersey's Newark Liberty International Airport. JetBlue kicked off its Boston-New York LaGuardia flights by offering fares as low as $49 each way, substantially undercutting what had been the standard weekday fares for the American and Delta shuttles.

USA TODAY

First look: JetBlue unveils special 'RetroJet' paint scheme

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Alaska Air pushes transcontinental build-up

Alaska Airlines is staking out a claim as a major player on cross-country routes from the U.S. West Coast.

Alaska Airlines will add non-stop service between San Diego and Baltimore/Washington International (BWI), launching one daily round-trip flight on March 15.

The carrier says BWI will become its fourth new East Coast destination from San Diego in as many years. Alaska Air's other new East Coast routes from San Diego are to Boston, Orlando and Newark Liberty. BWI becomes Alaska Airlines' 21st destination with seasonal or year-round service. From BWI, San Diego will give Alaska Airlines three non-stop routes. It also flies from the Maryland airport to Seattle and Los Angeles.

USA TODAY

Alaska Airlines' iconic Eskimo gets a makeover

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The 'boneyard': Where airlines send old planes to be scrapped

Read or Share this story: http://usat.ly/2gam3DU

Source: November route roundup: Where airlines are adding service

Let It Be Sunday!

It's like… you know leftover mashed potatoes are better re-heated, but still somehow you scoop them out of the refrigerator with a spoon (or your fingers).  The leftover sweet potato pie just needs hot coffee, and if you're feeling a fancy, a plate.  Turkey is better cold, with mustard.  Wait, there's still coconut cake left!? There goes the neighborhood.

The refrigerator is a veritable extravaganza for the next few days.  

Here's where we are with the Internet. I've included some links that I can stand and left out some links and news that I'm still processing.  Ok? Ok.

•  I spend a lot of time talking to myself… I'm sure you do too.  Sometimes I even forget that I'm talking to myself.  This article is absolutely fascinating.  The way we talk to ourselves in our head isn't bound by verbal speech, single perspectives, or you know… lip movement.  The Running Conversation In Your Head

•  Resilient past heartbreak. Orlando: the day after. 

•  I'm generally pretty aggressively dismissive of these sorts of list, but this list gathering of photographs from TIME caught my attention.  100 most influential photos of all time. This is who we are. We're horrible and nasty and beautiful and full of fight. 

•  Can hypothermia save gunshot victims?  I hope so. 

•  Statement of fact: Dan Rather is an American treasure.

•  The Moon Juice Gospel of Self.  The truth is, we're all slightly to mostly insufferable. And with that… I'll please have a small jar of Brain Dust, thank you. 

•  Our girl, ELLEN of Hedley & Bennett is a boss everyday.  I love her.  

•  If my cat were a normal cat, not obsessed with popcorn… I would make this lovely holiday garland:  Bay Popcorn and Cranberry Strings 

•  Would now be a good time to daydream about fancy springtime cooking vacations?  Life goals:  Four European Hotels With Immersive Cooking Classes

•  I like the idea of matchy, not-too-matchy napkins (and if you're working on your holiday cards, I'd say Minted is the place to be!).

•  I bought my first bottle of egg nog weeks ago, but now it's finally time, it is!  Egg Nog Rice Pudding

•  A fantastic podcast inspired by my favorite food magazine:  Radio Cherry Bombe.  I chat with Kerry Diamond about Friendsgiving and Cookbook Club on the latest episode! 

•  Adding a festive element to my week by taking a wreath making class in New Orleans on Tuesday!  

•  And suddenly we can't figure out how we've lived so long without a trophy jacket. We're mostly fine, but the jacket would probably make us better.

I hope you've had a restful and deeply happy Thanksgiving holiday weekend.  When I think of all the things I'm thankful for, you are among the top on my list. You, absolutely.  Thank you for being here and sharing this space with me.  

Enjoy this day!

xo Joy

Source: Let It Be Sunday!

Want to get away? Cyber Monday could hold the key to your destination

HOUSTON --

If you're looking for travel deals, you may want to log in on Cyber Monday.

Experts say slow summer travel sales should result in big airfare cuts. Some of the deals may even last through the first week of December.

Trips to the Caribbean and Europe are expected to come quite cheap.
Source: Want to get away? Cyber Monday could hold the key to your destination

Millennials Just Ranked This the Hottest Travel Destination of 2017

A recent poll of 2,000 American Millennials found that nearly 58% said they needed a vacation to forget about the current political situation in the U.S.

A full 33% reported being so dismayed with politics that they're looking into moving abroad permanently.

But before ditching their home country for good, they also ranked their top travel destinations for 2017. And it turns out the number one destination isn't in Europe, Asia, or anywhere down under. No, Millennials say it's... drumroll, please ...

Canada.

While the United States' northern neighbor may seem a pedestrian choice, the fact is Canada in 2017 is anything but.

First of all, 2017 is the country's sesquicentennial - a fancy way of saying its 150th birthday. This means, among other things, that there will be parties. Lots of parties. Festive, raucous, historical celebrations in beautiful, progressive, and internationally-flavored cities like Montreal and Vancouver. What could be better?

This could: In honor of said sesquicentennial, admission to all of Canada's spectacular national parks will be free.

Canada has some of the most epic natural landscapes in the world, not to mention ubiquitous wildlife, including grizzly bears, musk oxen, bison, moose, caribou, porcupines, Arctic hares, badgers, wolves, foxes, mountain lions, lynxes, lemmings and more. It's one of the least densely populated countries on the globe, and much of that uninhabited land is nature, pure and unadulterated.

Second, the weak Canadian dollar means your money will get you a lot further in Canada than it will in places like western Europe. It's a good time to take advantage of the exchange rate - especially since no one knows what will happen to American currency in the near future.

Finally, for Americans it's just a road trip away. This is a big deal when you consider that if you get your crew together to head up north, splitting gas makes it very affordable to both get there and get around. Plus, with no need to fly, you can bring whatever you want in the trunk (within reason, of course).

Lonely Planet agrees with Canada being the top spot. They've ranked it the number one travel destination in the world for 2017, citing the sesquicentennial that Canadians "won't be shy about celebrating."

Those who want to get in on the action can plan their own way around the country or go with operators like Geckos Adventures, which conducted the survey and organizes small group trips specifically for Millennials aged 18-29. Their new Canada trip starts at $1395 for 11 days, and includes Vancouver, Banff, Jasper and Whistler. Other notable trips include Cambodia ($382 for 6 days), Thailand ($700 for 9 days), and an African safari ($915 for 9 days).

Traveling for pleasure is a luxury afforded only to those who have the resources to make it happen, but that doesn't mean it's an idle thing. Building ties with other nations helps us become responsible, committed, and compassionate members of a united global citizenry -- a need that's more glaring now than ever. So whether you're a Millennial or not, pack your bags and get out there.

It's part of how we all come together.

-----

"A journey is a person in itself; no two are alike. And all plans, safeguards, policing, and coercion are fruitless. We find after years of struggle that we do not take a trip; a trip takes us." - John Steinbeck

The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.

Source: Millennials Just Ranked This the Hottest Travel Destination of 2017

SF Is No. 2 Destination Nationwide For Thanksgiving Travelers

Amtrak said it had added more seats and trains to have capacity for rail passengers along some of its busiest lines, including along the Pacific Northwest, the East Coast, and in southern California. Volmer lists three things for every visitor to do that will get them to the flight with less stress.

Many people will head home on Sunday.

TSA leaders say they expect a 35 percent increase in the number of travelers in Indianapolis on November 23. "TSA employs a robust security system involving multiple elements of security, both seen and unseen, to protect the traveling public". "Other than that, we made it", said Jim Laura.

The Salt Lake City International Airport and TSA employees are here to help make it as smooth as possible. "I'm here two hours before a domestic flight and I usually get here an hour before", Palushaj said.

"The drive itself? It's about a six-, seven-hour drive, so we'll be in the vehicle a long time", said Kristen Egan, another traveler.

The airport is also offering a promotion for $1 a day parking. Airport officials said the disabled veteran to whom the license plate was issued must be in the vehicle in order to receive the parking fee exemption.

The Boise airport encourages travelers to allow some extra time when traveling during this peak season.

Do not wrap gifts: If security officials needs to inspect a wrapped gift in checked or carry-on luggage, they may have to unwrap it. Airports, and the TSA, advise people to wrap gifts after arriving at their destination or ship them ahead.

"You're able to get through a line more efficiently, keep your shoes on and get through the airport", Grella explained. If you're hitting the road be prepared for jam-packed traffic. "I haven't seen my family in a while since I've been here".

Wondering how long you'll have to wait for a cab to the airport?

AAA attributed the increase in holiday travel to an improved economy, with people feeling more secure in their jobs and having more disposable income for travel.

Source: SF Is No. 2 Destination Nationwide For Thanksgiving Travelers

The European Capital of Food Festivals

The European Capital of Food Festivals

Over the last decade, Budapest has become one of the most popular tourist destinations. The growing number of tourists and foodies has made Budapest one of the top food festival cities in Europe.

Budapest Emerges as Popular Tourist Hub

Budapest has faced many struggles over the past century. For nearly 50 years, Hungary was ruled by dictators. It finally transitioned to democracy in 1989 and has been trying to reclaim its status as a cultural center of the world.

Conde Nast Traveler recently rated Budapest as one of the best cities in the world.

"With some of the best Art Nouveau architecture in Europe, scenic Budapest has no bad angles," they wrote.

Budapest Hosts Some of Europe's Best Festivals

The younger generation has a profound affinity for music. They have hosted some of the most popular music festivals on the continent.

Sziget, Volt and Balaton Sound – the most popular ones – have won plenty of awards in the past few years.

These music festivals have inspired other events throughout the city. A number of food festivals have emerged in recent years as well. Some festivals sell a variety of cuisines, while others are more specialized.

Most Popular Food Festivals in Budapest

A number of food festivals are organized every month, especially in the summertime.

Budapest Restaurant Week

Budapest Restaurant Week is probably the most popular food festival in the city. Numerous local restaurants participate to offer three course meals for a discounted price.

Palinka Festival

The Palinka and Sausage Festival is held at Buda Castle. Guests can sample some of the finest brandy and meats in the country. Here is a description of the event from the Palinka and Sausage website.

"One of the most compelling festivals of the autumn season, the Palinka and Sausage Festival will beheld in the courtyards of the majestic Buda Castle, permeated by an exciting gastro-atmosphere. Desserts made with palinka will have their own special place at the festival, including palinka bonbons and cream desserts."

Budapest Christmas Fair and Winter Festival

The Budapest Christmas Fair and Winter Festival is a two month long event that began on November 11. It isn't a food festival, but many fine foods are available. They include cookies, meed, homemade honey and cinnamon.

You can also purchase a number of crafts for your loved ones during the holidays. There are nearly 200 different programs for both children and adults.

Octoberfest

The Budapest Octoberfest is also a very popular one in the city. During the three day event, vendors sold over 300 different types of street food and craft beer.

You may also like:  10 things to know about your vacation car rental

"You can experience the feeling of the real Bavarian Paulaner Oktoberfest Big Tent directly from Munich for the third time in Hungary!" the organizers state on their website.

Főzdefeszt Craft Beer Festival

A couple of months ago, the city held the Főzdefeszt Craft Beer Festival. They offered free admission, but charged a fee to taste two of their favorite beers.

Street food show

Do you love street food? Then you will probably want to check out this event. They close down Andrassy Street to make room for a number of food trucks to sell delicious cuisines. You can find basically everything from seafood, burgers, hot dogs, pasta, sausages, waffles, soups from paper cups…etc

Chimney Cake Festival

The Chimney Cake Festival is a newer event that was organized this October. It was organized in Vajdahunyad Castle in Budapest City Park. Attendees had the opportunity to taste a number of different types of cake.

Pork & Sausage Festival

The Pork & Sausage Festival was made specifically for people that enjoyed eating pork. Pork is such a popular staple in Hungary, so this event tends to receive great turnout every year.    

Planning Your Trip

Many European tourists stop in Budapest to enjoy their food festivals throughout the year. If you are planning a trip, you will want to make the following arrangements:

Book your accommodations in advance. There are many popular events in Budapest throughout the year, so you may need to book your hotel or arrange to rent a flat at least a couple of months ahead of time.

Buy your tickets ahead of time. They often sell out quickly.

Find out what other events are available in the area. You want to make the most of your trip!

Find things to keep yourself entertained while you need downtime. You may need a VPN to watch CBC from your hotel room.

We hope you enjoy the delicious food and culture on your trip to Budapest!

Guest Writer Bio: Chris Beattie is a Co-founder of Fried.com — a website dedicated to educating individuals on how to protect their online privacy through comprehensive guides and tutorials. He is professionally passionate about web development, online privacy and maintaining a "free web" for the entire globe.  Staci Gerardi

Staci loves to write, and loves to share her "take" on everything thrown her way. Movies, entertainment, food, fashion, shopping, money, travel and family. There's nothing off limits at NovemberSunflower.com, and Staci's always telling it like it is: good, bad, and all that lies in between!

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Source: The European Capital of Food Festivals

4 Things to Do When Visiting Best Destinations in Greece in Winter

Greece is one of the most visited places in the world.Athens is the national capital of this southeast European country.Athens, the capital city of Greece,carries an unparalleled importance in the world history.One of the major reasons, why Greece is a popularly visited destination is - its strategic location. This colorful country is located at a junction where the boundaries of Europe, Asia, and Africa meet.

When there is a mention of Greece, white sandy beaches and blue waters are the sudden picture that comes into everyone's mind. No matter in which season you are visiting this cultural world heritage, Greece will always have something exciting to offer. Winters are gradually approaching and if you are planning a winter vacation in Greece, here are 4 things that you can do while visiting some of the best Greece destinations-

Island Hopping - The political and geographical periphery of Greece comprises over 6000 islands.Out of these, only a few hundred are inhabited. During the winters, Greece offers a special treat to those who like island life. In short, if you love island hopping, Greece in winter becomes one such place to visit. The larger islands, such as Crete, Euboea, Lesbos, and Rhodes, are a big attraction. Corfu makes a must-visit destination; this old town features hardcore tradition of Greece.Skyscapes and natural landscapes are the finest features of Greece.

Peace and Harmony - Corfu has popular palaces of St. Michael and St. George - two of the most predominant characters in the Greek and Christian history.This place will overwhelm your heart with spirituality and peace. In Crete, you get to witness quiet and long harbors and mountains.The densely populated island of Euboea has people that welcome give each traveler a warm welcome.

Cuisines - If attention-grabbing natural scenes do not seem sufficient for your eyes, then traditional Greek cuisines will definitely win your heart. Large islands, including Crete and Euboea, offer the best Greek cuisine. However, other islands and towns also offer a wide variety of never seen before foods and beverages. When visiting Greece in winter, do not forget to enjoy the hot beverages served by the locals.

Walks - During winters, Greek islands become a paradise for walkers. Wonderful walks will make your evenings. If you are going destination Greece, towns located in central Macedonia, Thrace, Vikos Gorge, and other regions give you many special moments. According to the Lonely Planet magazine, Andros is labeled as the heaven of walkers. There are tree-clad valleys supplying a heavy dose of freshness to your eyes and heart.

Author's Bio: 

In this article, I have mentioned some of the best activities to be a part of if visiting top Greece destinations in winters. Greecefully offers a variety of winter tour packages; check out the website for more.

Source: 4 Things to Do When Visiting Best Destinations in Greece in Winter

SOCAR names Romania as priority destination for investments

21 November 2016 16:50 (UTC+04:00)

81

By Nigar Abbasova

Azerbaijan's energy giant SOCAR, which is constantly seeking potential markets for investments, sees Romanian market as one of the most promising.

SOCAR Vice President Suleyman Gasimov said that Romania ranks among priority countries for the Azerbaijani investments.

 Mentioning that Baku and Bucharest enjoy very good political relations at the highest level, Gasimov said that Romania became the first European country where SOCAR invested.

 He emphasized that an analysis of the Romanian market revealed that the country is open for Azerbaijani investments.

SOCAR earlier inaugurated a new fuel station near Bucharest, expanding the network of its filling stations in the country. 

The filling station, which is located in Romania's Ilfov County, became the 35th filling station of the company in the country.

The company entered the Romanian market by buying local filling stations from Romtranspetrol and re-branding them in 2011.

Today, SOCAR operates filling stations under its brand in 17 regions of Romania.

The two countries also cooperate in the implementation of Azerbaijan-Georgia-Romania Interconnector (AGRI) energy project, which is aimed at diversifying the energy supply sources of the European Union and involves the supply of Azerbaijani natural gas to Romania and into Central Europe.

---

Nigar Abbasova is AzerNews' staff journalist, follow her on Twitter: @nigyar_abbasova

Follow us on Twitter @AzerNewsAz

Source: SOCAR names Romania as priority destination for investments

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Planning a trip across Europe? These cities don’t need more than 3 days

If you are planning a euro trip and are hard-pressed on time, we've got you covered. Transport reservation platform GoEuro has come up with a list of best European cities that you can very well cover in 2-3 days. Thanks to its many qualities, Barcelona has been rated the best destination.

GoEuro studied various price-based criteria relating to nightlife, accommodation and more to draw up a list of Europe's top cities for weekenders.

For each city, GoEuro studied the nightlife — the number of bars and clubs open late and the average price of a beer — as well as activities and shopping, the price of eating out, the average cost of accommodation per person per night, and the price of public transport and taxis, giving each destination a score out of 100. The ranking is based on data from TripAdvisor and recommendations from specialists like Time Out magazine.

The Spanish city of Barcelona tops the list, with a score of 98.3 out of 100. Its buzzing nightlife and the low cost of eating out makes the city a great choice for a fun weekend away that won't break the bank. Barcelona also comes top of the individual ranking for bars and restaurants.

Similarly, Berlin stands out for the quality of its nightlife. Although the German capital comes third (95.8/100) in the general ranking, the city comes top in this particular field.

This will come as little surprise to many travellers, since Berlin is a well-known hot-spot in Europe for clubbers and party-goers, and specifically for its electronic music scene. As well as Berlin, GoEuro recommends Krakow in Poland (2nd), Kiev in Ukraine (4th) and Madrid in Spain (5th) for weekenders looking to party.

The Czech capital Prague takes second place in the general ranking, scoring 96.1/100. The city stands out from rivals on the podium thank to the wealth of activities it offers to visitors.

Although the birthplace of Kafka can't match the British capital London (1st) or France's Paris (2nd) on that front, the combination of Prague's rich and diverse activities, its lively nightlife and its good-value restaurants sees the city take second place overall.

The 10 best European cities for weekend breaks

1. Barcelona, Spain

2. Prague, Czech Republic

3. Berlin, Germany

4. Madrid, Spain

5. London, United Kingdom

6. Paris, France

7. Lisbon, Portugal

8. Krakow, Poland

9. Budapest, Hungary

10. Seville, Spain

Follow @htlifeandstyle for more.

Source: Planning a trip across Europe? These cities don't need more than 3 days

London overtakes Paris as Europe's #1 retail destination

London's "opportunity" potential for new retail entrants and total occupational costs has allowed it to be named Europe's top retail location in the latest European Retail Destination Index.

According to Savills, an international real estate firm with a speciality in retail, London took the top spot because of its underlying operational fundamentals related to retail spend and tourist flows.

The city's occupational costs were also 6.7 per cheaper than Paris.

Savills measured retailer "opportunity" for European cities based on the total number of standalone stores occupied by the top 10 global fashion brands or groups in a city relative to population and visitor numbers. 

London offers 13.1 stores per one million of the population and 3.9 stores per one million of international tourists, comparted to Paris' figures of 17.3 and 5.9 stores respectively. 

READ MORE: New Bond Street ranked 4th most expensive street on the planet

For international brands looking  to expand, Savills said this would suggest that competition may be less pronounced in London, but still dependent on the nature of their product offer and existing competition.

Further enhancing London's position on the top spot is how it overtook Paris with a record 19.8 million international tourists spending a total of €17.8 billion (£15.1 billion) in 2015/2016, according to Mastercard.

More recently, spending by overseas visitors in London received an added boost from the Brexit vote due to its impact on the value of the pound. 

Based on a basket of luxury goods, which includes an iPad, Rolex watch and Chanel perfume, the average price for these items in London is now approximately 13 per cent lower than those in Paris.  

As a result, London's West End saw a three per cent annual increase in retail sales in July 2016, the month immediately following the EU referendum.  

"While this measure did not feed into the European Retail Destination Index, it does highlight the importance of visitor appeal in determining the attractiveness of a location to new international brands," Savills retail research director Marie Hickey said.

"The revenue potential of London and its lower occupational costs suggest the profit margin offered by a store there may be greater than that of a similar store in Paris.  

"This will enhance its appeal to new international entrants, hence its place at the top of our European Retail Destination Index."

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Source: London overtakes Paris as Europe's #1 retail destination

Brits Go Back to the ’70s as Brexit Revives the Package Holiday

Sterling's slide following the U.K. vote to quit the European Union is reviving demand for package holidays as Britons seek to avoid the uncertainty of paying in euros for accommodation, airport transfers and meals.

Demand for all-inclusive trips, which waned with the emergence of low-cost airlines in the 1990s, is increasing as the pound's 15 percent slump against the euro this year encourages people to fix the price of their break before leaving home, figures released Thursday by British leisure carrier Jet.2 suggest.

The number of package holidays booked with Jet2 surged 36 percent in the six months through Sept. 30 just as flight-only sales fell 5 percent, the airline's owner Dart Group Plc said in a statement. Package customers now represent 50 percent of those flown, up from 42 percent a year earlier.

Dart said that while the weaker pound might lead to upward pricing pressures, it's confident in the resilience of leisure travel and "encouraged" by the higher proportion of clients opting for packages. First-half operating profit rose 14 percent to 167.5 million pounds ($180 million), while winter bookings are in line with expectations and full-year targets should be slightly exceeded, it said.

Dart shares rose as much as 8.9 percent, the most in more than a year, and were trading 6.2 percent higher at 428.5 pence as of 10:59 a.m. in London.

All-In Deals

Jet2 has taken a bullish view of the post-Brexit vote environment, announcing Sept. 21 that it would open a base at London Stansted Airport next March, taking on discount giant Ryanair Holdings Plc at the Irish carrier's biggest hub. Jet2 will serve 21 European destinations from Stansted using six new Boeing Co. 737-800 jets.

While most European vacation providers are part of specialist tour operators such as TUI AG and Thomas Cook Plc, Jet2 was established as an airline and added a holiday business only in 2007. Almost 40 percent of its packages are sold as all-in deals aimed at families on a tight budget and include flights, transfers, meals, alcohol for adults and treats for children.

The carrier has previously focused on northern Britain, with its headquarters at Leeds-Bradford Airport and nine existing bases including Glasgow, Manchester and Newcastle upon Tyne. Ryanair is deploying 50 jets due this year outside the U.K. in light of what it predicts will be a Brexit-inspired travel slump.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE
Source: Brits Go Back to the '70s as Brexit Revives the Package Holiday

Taking on the challenge of getting refugees into the job market in Sweden

A police officer escorts migrants from a train at Hyllie station outside Malmo. TT News Agency/Reuters

Sweden is one of the few countries in Europe that has provided protection to a large number of refugees fleeing the war zones of Syria, Afghanistan and Iraq.

Despite its relatively small population of 10 million, Sweden had the highest number of individuals seeking asylum per capita (163,000) in Europe in 2015. The large number of refugees who have gained residence in Sweden over the past couple of years constitute a major challenge to Swedish society and, especially to the Swedish labour market.

According to a recent report from the OECD, only 22% of newly-arrived men and 8% of women had employment after one or two years of introductory programmes. But the long-term employment rates of previously-arrived refugees in Sweden are more favourable and lead us to believe that the numbers above will grow within the next few years.

As reported by the Swedish Migration Delegation, only 30% of refugees who arrived between 1997 and 1999 were employed after two years of residency in Sweden, but this number jumped to 65% after ten years in the country. Despite the fact that this figure is still below the Swedish average employment rate of about 80%, it is illustrative of the gradual growth in employment rates for refugees.

The number of first-time asylum applications in Europe for 2015 reached 1.3 million, three times more than in 2013. The spike in arrivals in the past year has put significant pressure on receiving countries, such as Sweden and Germany, and on the resources allocated to integrate refugees. The main focus of introduction programmes in Sweden and other European countries has been on labour market integration.

Of course, this is not the first time in history that Sweden has received large numbers of asylum seekers and tried to incorporate them into the labour market. During World War II and directly after, Sweden accepted refugees from Poland, Finland and the Baltic states, as well as Jewish refugees from Denmark and Norway. The goal of Swedish integration policies then was to employ and resettle refugees in parts of the country where there was a high demand for labour.

Since the 1950s, when Sweden accepted Hungarian refugees, and especially over the past three decades, Swedish integration policies have continued developing to become more encompassing and ambitious.

The current policy was adopted in 2010 with the goal of facilitating the integration of refugees into the Swedish job market. Refugees are offered an introduction program that includes basic Swedish language training and civic and labour market orientation courses for up to two years.

Despite these efforts, the labour market integration of refugees in general, and resettled refugees in particular, has been characterised as having a slower pace, compared to that of family reunion migrants and labour migrants. Of course, refugees - unlike labour migrants - are not selected primarily for their skills. It will naturally take longer for them to match the demand in the host country.

There are also other reasons why it's harder for refugees to access the job market. For example, the skills and credentials of refugees quickly depreciate due to difficulties in getting their qualifications accredited in Sweden. Refugees are also treated less favourably than labour migrants or family reunion migrants by their host countries, and may have health issues due to the persecution they have suffered.

Studies on the integration of refugees in Sweden and other immigrant-receiving countries, such as Canada, the US, the Netherlands, the UK and Australia, also reveal substantial differences among immigrants based on their country of birth. In Sweden, for example, immigrants from former Yugoslavian countries show higher employment rates than those coming from Turkey, Iran or Iraq.

Successful integration rates also differ between subcategories of refugees: asylum refugees versus resettled refugees. The main difference between asylum refugees and resettled refugees is that the former apply for asylum at the border of the destination country whereas the latter are resettled from UNHCR refugee camps or elsewhere.

In 2007, the employment rates of male and female resettled refugees who had lived in Sweden for ten years were 67% and 74%, respectively, whereas the corresponding numbers for asylum refugees were 79% and 78%. These figures do not show the employment of reunited family members of refugees, as they are included under the family migration category.

The employment gap between the two refugee categories has been explained by differences in settlement policy. Resettled refugees are, upon arrival, located in municipalities where housing is available but where employment opportunities are often lacking.

Asylum refugees, on the other hand, are given a choice of where to live, and often choose bigger cities where they have relatives and friends who can help them through networks, contacts and advice. So asylum refugees tend to do better when it comes to integration.

There is no doubt that the current refugee inflow into Sweden has put extra pressure on the Swedish job market.

Specific policy initiatives to speed up the labour market integration of newly-arrived refugees could include placing them in municipalities with low unemployment rates, better evaluating their skills, and improving language courses by connecting the courses directly to the needs of the job market.

Integration policies should address the specific knowledge gaps of newly arrived refugees in relation to labour market demand in order to reduce the mismatch between their skills and those needed in the Swedish job market.

All this will be beneficial not only for refugees but also for Swedish society as a whole.

This is the third in a series of articles in partnership with UNU-WIDER and EconFilms on responding to crises worldwide.

This article was originally published on The Conversation. Read the original article.

Source: Taking on the challenge of getting refugees into the job market in Sweden

Obama tours Europe to soothe fears over Trump’s stance on NATO, TTIP deal

Barack Obama has arrived in Greece on the first stop of his farewell foreign tour as president. As the trip comes days after the surprise election of Donald Trump, Obama hopes to reassure the US' allies that their existing strategic relationships are safe.

US Air Force One touched down in Athens on Tuesday morning after an overnight flight from Washington, DC. On his first day in Greece, Obama is to meet with President Prokopis Pavlopoulos and Prime Minister Alexis Tsipras. A joint news conference with Tsipras is scheduled for later in the day. On Wednesday, he is to tour the Acropolis and give a public speech on democracy and globalization before flying to his next destination, Berlin, where he will meet German Chancellor Angela Merkel and other European leaders. 

Read more

After that, Obama will travel to Peru, where he will attend an Asia-Pacific economic summit, APEC, and meet Chinese President Xi Jinping and other Pacific leaders before returning to Washington on Saturday.Obama's trip is expected to be dominated by questions regarding the future of America's relations with its allies in light of the approaching transition of power to president-elect Donald Trump. Obama himself admitted this while speaking to the press ahead of his trip.

"One of the most important functions that I can serve at this stage... is to let [allies] know that there is no weakening of resolve when it comes to America's commitment to maintaining a strong and robust NATO relationship and a recognition that those alliances aren't just good for Europe, they're good for the United States and they're vital for the world," Obama said.

The outgoing president stressed that one of the most important things he could do during his final tour is to reassure the US' allies who may be worried about Trump's victory over Democrat Hillary Clinton last week that their strategic relationships with America are still sound. Obama said that Donald Trump, who will take office on January 20, had indicated that he is committed to maintaining existing ties.

"In my conversation with the president-elect, he expressed a great interest in maintaining our core strategic relationships," Obama told a news conference on Monday night. "So one of the messages I will be able to deliver is his commitment to NATO and the trans-Atlantic alliance."

Read more

However, during his campaign, Trump repeatedly slammed NATO, calling the alliance "obsolete" while suggesting that the US might consider dropping out of the alliance because the European members were not pulling their weight. Trump also criticized a proposed US-EU free trade agreement called the Transatlantic Trade and Investment Partnership (TTIP), blaming similar economic pacts like NAFTA for job losses in his homeland. He has also dismissed climate change as a "Chinese hoax."

Consequently, his victory has been met cautiously by the 'global community,' and especially by the European Union. Negative statements Trump has repeatedly made about some core US-EU issues seemed to pull European authorities off balance after his win, with European Commission president Jean-Claude Juncker warning that Trump could upset their relationship.

"The election of Trump poses the risk of upsetting intercontinental relations in their foundation and in their structure," Juncker said on Friday, patronizingly adding that the allies will "teach the president-elect what Europe is and how it works."Speaking at a business event in the German capital last Thursday, Junker also said that, with Trump at the helm, he did not expect TTIP, which was endorsed by Obama and slowly nearing adoption, to be signed any time soon.

READ MORE: Jean-Claude Juncker: 'We will need to teach Trump what Europe is and how it works'

Strategists from NATO Secretary-General Jens Stoltenberg's staff allegedly went so far as to draft a secret report that includes a worst-case scenario in which Trump fulfills his threat to have Washington less involved in European security and orders US troops to withdraw from Europe. "For the first time, the US exit from NATO has become a threat," which would mean the end of the bloc, a German NATO officer told Spiegel magazine last Saturday.

In an apparent response to Trump's hints that the US could leave NATO, the European Union agreed on a new defense plan on Monday that would allow it to deploy response forces abroad without the United States.

Washington "will not ensure the security of the Europeans in the long term... we have to do this ourselves," Juncker, who proposed the move, argued last week.

READ MORE: NATO mulls worst-case scenario in case Trump pulls US troops out of Europe – report

However, President Obama tried to wave off all these fears in a news conference at the White House on Monday, when he predicted that Trump's controversial rhetoric will change as soon as he takes office, as the realities of his new job will instantly force him to readjust his views.

"This office has a way of waking you up [...] Those aspects of his positions or predispositions that don't match up with reality, he will find shaken up pretty quick because reality has a way of asserting itself.

"Because when you're a candidate and you say something that is inaccurate or controversial it has less impact than it does when you're president of the United States. Everybody around the world is paying attention," Obama said.

Source: Obama tours Europe to soothe fears over Trump's stance on NATO, TTIP deal

Theresa May is to promise an "unashamedly pro-business" government

Prime minister Theresa May will today vow to lead an "unashamedly pro-business" government, while also vowing to crackdown on bosses that "game the system".

Speaking at the Lord Mayor's Banquet at the Guildhall tonight, May is expected to stress her desire to make the UK an attractive destination for businesses to invest after Brexit.

Citing the government's success in securing future manufacturing in the north east from Nissan, May will promise to back the industries of the future, and rebalance the economy across sectors and geographies.

"We will do everything we can to make the UK outside the EU the most attractive place for businesses to invest and grow," she is expected to say.

May will also pledge her commitment to free markets, but she is expected to further stress her willingness to clampdown on bad businesses.

"We can also recognise when a minority of businesses and business figures appear to game the system and work to a different set of rules, the social contract between businesses and their employees fails – and the reputation of business as a whole is quickly undermined," she will say.

It comes as Downing Street seeks to burnish its credentials with the UK's employers.

CBI boss Carolyn Fairbairn is set to meet with the Prime Minister this month, while businesses groups are also seeking to steer May's controversial plans to put workers on boards when a consultation is launched within days.

May entered office vowing to scrutinise all foreign takeovers in key British industries, tackle excessive corporate salaries and put workers on company boards.

Only last month home secretary Amber Rudd was forced into a rapid u-turn over plans to "flush out" businesses failing to hire enough UK staff.

And May's own speech at the Conservative party conference saw a similarly furious response from businesses after she pledged action against "dysfunctional markets" and multinationals that "dodge" tax.

May's comments will come after the City's new lord mayor, Andrew Parmley, tells guests that economic growth must be shared across the country.

Parmley is expected to say that voters in places like his hometown of Blackpool have been left unaware of the benefits of a strong Square Mile by the lack of improvement nearer to him.

Speaking for the first time as Lord mayor he will call for a "global Britain powered by a global City".

"I will shine a light on the City's 'added value' in smaller towns across the UK through the investment, jobs and the ways we support local economies to become thriving hubs," Parmley said.

Meanwhile, representatives of the banking sector are calling on the chancellor to secure important post-Brexit rights ahead of his first Autumn Statement later this month.

The British Bankers' Association (BBA) has used its Autumn Statement submission to urge Philip Hammond to provide further clarity on transition periods and a more transparent negotiating timetable.

"The outcome of the referendum vote has generated uncertainty for the banking sector and added to the strategic questions resulting from a low interest rates environment, growing regulatory requirements, and increasing digitalisation," the BBA wrote. "To avoid disruption to businesses and customers in the UK and the EU, it will be important to limit disruption to financial services and the banking sector."

Financial firms in the UK currently use passporting rights to do business within the EU. A transition period would extend valuable rights, such as passporting, for a long enough period for banks to adapt to a new political and regulatory environment.

Read more: Bankers urge Hammond to push for transition periods

The BBA has previously warned many of the alternatives to passporting, such as regulatory equivalence, will not secure banks sufficient access to the Single Market and are "poor shadows" to the rules the industry currently enjoys.

Yesterday the chairman of RBS, Sir Howard Davies, backed calls for a transitional deal with Europe when Britain leaves the EU, warning of the risk to banks if they swiftly lost access to the single market and passporting rights.

"I think it is damaging if we don't get a transitional deal, because I think you will then see banks and financial institutions making decisions on the basis of uncertainty," he told ITV's Peston on Sunday show.

He added: "They will not wait because they have to make a decision which will allow them to continue to function in the event of a hard Brexit if that's a possibility."

The bank boss, who opposed the UK leaving the EU, warned that cutting off London's financial services from Europe risks destabilising "the whole of of the European financial markets".

Source: Theresa May is to promise an "unashamedly pro-business" government

The Trump Train Is Already Heading Towards Europe – Analysis

By Daniele Scalea *

The "Trump Train" (once a Twitter hashtag and then a successful metaphor of the assertive, and to date unstoppable, reform wind blown by Donald Trump) is finally arrived at the White House. But this is very likely not the final destination of its journey. The Trump Train could soon arrive in Europe.

And it would be a return trip. As Donald Trump frequently referred to, his campaign owes a lot of inspiration from the Brexit movement. Surely Trump got in politics well before, but after June he's started referring to his rise as a "Brexit plus plus plus". And it wasn't just a motivational motto.

The Trumpist and Brexiteer final arguments strictly resemble one another: a proudly nationalistic rebuttal of adverse fallouts of globalization, from industrial outsourcing to the (West)self-hating ideology of extreme multiculturalism. The Trump Train and the Brexit share also a common grass-roots social base of support, which are the White working and middle classes of small cities and rural areas especially.

Even if US society is still very different from the European one, the rampant globalization of last decades has made them quite close compared to half a century ago. Both US and Europe has experienced massive deindustrialization with a geographical concentration of the remaining high-tech industries in a few islands of happiness – few compared to the many rust belts of the Western world. Both US and Europe has seen a deep financialization of their economies. Both US and Europe has been overwhelmed by the new ideology of the so-called politically correct, a post-modern, constructivist, relativist and anti-Western set of theories and practices. It's true: in the US you can find also the Bible Belt, but if we consider the European Union as a whole, we could see a Catholic Belt in its Eastern countries, opposed to Sweden (a European California) or London and Paris (European New Yorks) or in general the more liberal Western countries. Exactly as in the US, also in Europe the post-m odernism is currently hegemonic in colleges and mainstream media, which are trying to inculcate it also in the common man, and the common woman – and the common *… Finally, the massive immigration flows of last decades in Europe are making her society more and more resembles the composite ethnic mix of North American society.

In so similar environments, it is predictable to find similar political trends and demands. Brexit- and Trump-alike movements are in high gear throughout Europe, with very few notable exceptions (as Spain, but maybe only because the Partido Popular is quite more right-wing than its conservative counterparts in other countries). The working class vote has yet largely migrated from the Left to the Right, whereas the upper class is now proudly leftist in majority. Larger cities are the liberal strongholds while the suburbs are swarmed by Brexiteer-style so-called "populists".

You have read in every possible way how Trump prevail among White electorate by 60%-40%, losing among Blacks (10%-90%) and Hispanics (35%-65%). Surely we cannot trust too much pollsters's statistics, but they are perfectly in line with surveys in previous elections. Now, take the Brexit vote: white voters chose Leave by a notable (and indeed determining the final result) margin of 53%-47%, which would be ever wider if it was not for the Scotland and Northern Ireland's white voters, who had very particular and local-specific reason for prefering Remain. Anyway, they were not Scots or Irish the ethnic groups that by a larger majority voted for remain in the European Union. They were Asians (65%-35%), Muslims (70%-30%) and Blacks (75%-25%) instead.

No wonder if, looking into the foreign-born voters in Europe, or also second- and third-generation immigrants, we will find a clear support for the Left. And since those groups are now numerically very considerable in many countries, they can actually determine the outcome of an European election. Precisely as Blacks and Hispanics in the US have been decisive in the elections of Presidents Kennedy, Carter, Clinton and Obama, all with minor approval among Whites. Prompting White voters to move rightwards

With all these similarities in place, it becomes very likely for Europe to follow on the path already taken by US politics. Bets are open on which major European country will be the first stop of the Trump Train.

About the author: *Daniele Scalea, geopolitical analyst, is Director-general of IsAG (Rome Institute of Geopolitics) and Ph.D. Candidate in Political studies at the Sapienza University, Rome. Author of three books, is frequent contributor and columnist to various Tv-channels and newspapers. E-mail: daniele.scalea[at]gmail.com

Source: This article was published by Modern Diplomacy

TOPICS:BREXITDonald TrumpElectionsEuropean UnionIrelandPoliticsScotlandUnited KingdomUnited States
Source: The Trump Train Is Already Heading Towards Europe – Analysis

Manchester United Transfer News: Latest Rumours, Players Eyed by Red Devils

Gualter Fatia/Getty Images

Manchester United are reportedly raising interest in Benfica centre-back Victor Lindelof, but a raft of European competition threatens the deal. Meanwhile, the Red Devils are said to be targeting Bayer Leverkusen youngster Benjamin Henrichs.

Portuguese newspaper A Bola (h/t Mirror's James Whaling) reported manager Jose Mourinho is considering a winter swoop for Benfica's star defender, who has a release clause valued at €30 million (£26 million).

Interest in the Sweden international runs deep, however, with Premier League rivals Chelsea also linked to the player, as well as French titans Paris Saint-Germain, not to mention the Italian duo of Juventus and Napoli.

Prising Lindelof away from the Estadio da Luz could be a difficult task, too, considering the defender has made such a successful step up in his career since joining Benfica in 2012 and appears to be enjoying his stay:

United striker Zlatan Ibrahimovic may be able to have a hand in convincing his Swedish countryman as to why Old Trafford is the right destination for him, not to mention United's need for depth at centre-back.

Chris Smalling and Eric Bailly have been manager Jose Mourinho's first-choice pair in central defence thus far, with the likes of Daley Blind and Phil Jones providing back-up, but some may argue not all in that quartet are truly elite.

Lindelof, 22, arrived at Benfica from Vasteras in January 2012.

Bailly has been a major hit at Old Trafford following his summer arrival from Villarreal, but a knee injury means he'll be out of action until Christmas, per Samuel Luckhurst of the Manchester Evening News.

Serie A titans Inter Milan are also reportedly in for Lindelof after the Nerazzurri's sporting director Piero Ausilio suggested the Benfica ace is on his club's radar, telling Portuguese newspaper O Jogo (h/t Football Italia):

Semedo and Lindelof? It's our duty to watch other players and Leagues. But I must say we have a group of 27 players and that talking now about the market wouldn't be good for either the Coach or players.

We're in a position to follow some interesting players, and if we decide to strengthen the team then we'll move.

Elsewhere, German newspaper Bild (h/t Mirror) reported Henrichs has attracted Mourinho's attention, and the 19-year-old has previously hinted at attention received from England's clubs: "English clubs were interested after a national match in England in September 2015 with the German U19s."

The teenager is no longer a mere Germany youth player, however, after he made his senior debut against San Marino on Friday, and OptaFranz illustrated just how prominent a player he's been at the BayArena this season:

The right-back stands to face major competition at right-back considering Antonio Valencia has undergone a resurgence under Mourinho, while Matteo Darmian has struggled to feature, as has Timothy Fosu-Mensah.

Henrichs has an added benefit in that he can feature on either side of the back four, however, and given United's recent injury woes at full-back, that could be an invaluable resource to the Red Devils.

Source: Manchester United Transfer News: Latest Rumours, Players Eyed by Red Devils

Stunning Destination Wedding in Southern Italy

This morning we shared Ore & Lawson's stunning wedding film, and now, we're eager for you to see their beautiful photographs and read more about the story behind their day.

A London-based couple, they always new they'd have a destination wedding, and after some fortuitous Google results, they landed on a stunning Italian castle in Apulia, Castello Monaci, and they planned a suitably regal celebration to fit.

To capture memories of their stylish and romantic day, Paola Colleoni was their photographer and Angelo La Torre was on videography.

When we asked Ore for three words to describe her and Lawson's day, she said, "Elegant, glamorous and fun-filled" and we couldn't sum it up better ourselves. 

Ore chose two stunning wedding dresses, a romantic ceremony gown with sheer embellished detailing by Tarik Ediz and a glam reception dress by new London designer, AloNuko. Lawson was just as stylish as his bride, with a black tuxedo which he swapped out for a white jacket for the party. 

Ore put her own planning skills to work (which is a tricky task with a destination wedding!) but with the help of Instagram and a pretty magnificent backdrop, she created an elegant reception, with lavish blooms, gilded details, and lots of personalised touches.

Add in some fabulous food, a rather epic wedding cake, lots of dancing, a firework finale and a dip in a fountain, and you do indeed have yourself one seriously elegant, glamorous and fun-filled day.

Our Love Story

Lawson and I met when we were 16 years old at the library of all places!

We were both studying there for our A-levels and were introduced by mutual friends. For the first year we were purely platonic however on the last day of school we all went out and depending on who's telling the story, one of us made the first move!

Fast forward past university, starting our careers and getting a mortgage and we found ourselves nine years later still not able to get rid of each other!

Lawson proposed just after our nine year anniversary  (one week three days after to be exact….not that I was counting). As I was about to shoot out the door for work, he got down on one knee and popped the question and then told me that he'd  secretly got me the day off and I had one hour to pack for a weekend away in Barcelona!

I always knew we were going to spend our lives together but it was so amazing to know that it would finally be official and that I'd have my best friend by my side for the rest of my life.

  

The Destination

Before Lawson and I even got engaged we'd discussed having a destination wedding. With the weather being so unpredictable in London and both of us loving to travel, it seemed like the best option for us so once he popped the question I began searching for the best place to host our friends and family.

Initially we decided on Greece as we'd been there together a few times and thought it had some of the most beautiful islands we'd ever seen – however our engagement also fell at the same time as the Greek financial crisis and with things so up in the air with the economy we we forced to look elsewhere.

A random google search later for European wedding locations and I stumbled across a place called Apulia in an article written about where Justin Timberlake got married.

The place looked beautiful, stunning vineyards and farmlands however a beautiful coastline and beaches too – it seemed like the best of both worlds so I commenced looking for wedding venues there even though neither of us had ever been to Italy!

A few more clicks on Google and I found the stunning Castello Monaci, I sent it to Lawson and asked him what he thought and if he liked it even though it wasn't our dream of Greece and I'll never forget his response "Dude are you serious…it's a friggin Castle…like I'm a King – IT'S PERFECT!"

We both went to Italy for the first time to view the wedding venue and fell in love there and then! We'd hoped to have about 18 months to plan the wedding however (testament to how popular it is) the venue only had one date left available for the whole of 2016 and that  was 11 months away in June so we snapped it up and I went into overdrive on the planning front.

  

The Inspiration

Our theme for the wedding was glamorous and romantic with a colour palette made up of marsala, blush and gold metallic finishes.

  

The Venue

Castello Monaci is an stunningly romantic castle in Apulia – a region in Southern Italy –  filled with breathtaking gardens, it's own winery and surprises around every corner.

Along with it's beauty what really sold it for us was the amazing staff! They worked tirelessly to make our wedding the wonderful day that it was, and both in the lead up and on the day, their help was priceless.

  

  

  

  

The Photography & Videography

Both our photographer and videographer were amazing beyond words. After the wedding a lot of our guests said they didn't even realise they were there and that is testament to how seamlessly they blended in and captured the moment without disrupting the natural flow of the festivities.

The wedding trailer by Angelo is something Lawson and I could watch time and time again.

Although only a few minutes long, it captures in a nutshell the very essence of the day and the spirit of us as a couple – the love, the joy and most importantly, the party!

  

The Decor & Details

I'm a planner by nature and run a bespoke surprise planning business alongside my day job as a business consultant so I knew from the offset I wouldn't be hiring a wedding planner.

Although stressful at times, it was a great opportunity for me to fully get involved in every detail of the wedding and seeing everything come together in the end and have our guests enjoy it all was priceless.

Paper goods were a particular area of importance for me as I think it serves as someone's first impression of your wedding – plus nowadays all I get through the post are bills so I wanted to send something that would make our guests smile.

To that end I designed Save the Dates using PowerPoint (all those hours making consulting presentations clearly weren't wasted) in the form of boarding passes as this was the first time our guests found out the wedding would be abroad.  

For our formal invitations I and some of my amazing bridesmaids handmade boxed invitations. What seemed like a great idea at the start turned into 12 hours of sticking, folding and ribbon tying however I wouldn't have changed a thing as our guests loved our invitations and doing it DIY meant we could get them exactly as we wanted them.

There were countless other details that I loved, from our terrarium ring holder through to our home made charging station (I hate my phone dying at weddings especially when there's so many pictures to be taken!).

Our guests particularly enjoyed our personalised gym towels that we gave out as favours along with Italian Limoncello!

  

Advice for Other Couples

My top tips for any couples planning their big day, especially those not using a wedding planner is that social media is your best friend!

We got married in a very remote region of Italy and so I initially struggled to find details of vendors online – that was until I turned to Instagram.

Hashtags were super useful e.g. #apuliaflorist and it also meant that I could see a visual of the vendor's work right away.

I ended finding my photographer, videographer and florist all via Instagram so it definitely became a useful resource.

  

  

  

Favourite Moments

Our favourite moment of the wedding was the reception party. Lawson and I knew early on that although we wanted the wedding to be a romantic occasion we also it wanted to reflect how much we love a good time.

To that end we flew out two of our favourite DJs from London and partied until 4.30am in the morning!

At one point, at the end of the night, let's the just say we and our friends ended up dancing in a fountain in the middle of the castle gardens – it's a memory we'll never forget and one that highlights just how happy, uninhibited and carefree we were that night…and wet, definitely wet!

Such a cool wedding, right? I just love the setting, though the style, the decor and all those details are pretty special too. Make sure you watch the wedding film for a feel of all the emotion and atmosphere behind the day.

Thanks so much to photographer Paola Colleoni, videographer, Angelo La Torre and of course, gorgeous Ore & Lawson for sharing their beautiful wedding day with us.

See more unique & beautiful real weddings. 

Source: Stunning Destination Wedding in Southern Italy