Romania will target business in search of revenue

2019 ◽  
Keyword(s):  
Government Policy ◽  
Budget Deficit ◽  
Social Democrats ◽  
Content Type ◽  
The Social ◽  
The Face ◽  
The Government ◽  
Economic Developments ◽  
Wage Increases

Subject Romanian government policy in a slowing economy. Significance Economic developments have allowed the senior coalition party, the Social Democrats, to claim a measure of success in the last few years, despite acute cabinet instability and controversial judicial reforms. However, growth is widely expected to slow in 2019. Despite upbeat projections in the budget, passed belatedly and in the face of presidential opposition in mid-March, the government is struggling to fund ambitious wage increases, as the budget deficit comes perilously close to breaching EU limits. Impacts The banking and energy sectors are bearing the brunt of interventionist policies. Legal instability could damage investment. Long-term underinvestment in infrastructure and lack of institutional modernisation will become more evident and difficult to tolerate.

Saudi subsidy reforms unlikely to spark major protests

2016 ◽  
Keyword(s):  
Fuel Oil ◽  
Basic Part ◽  
Content Type ◽  
The Social ◽  
Political Impact ◽  
The Face ◽  
The Government ◽  
Crown Prince ◽  
Economic Outlook

Subject Political impact of subsidy reform. Significance Saudi Arabia introduced its first major cut to energy subsidies in January, leading to a rise in petrol, diesel, fuel oil, natural gas and electricity prices. Further cuts will be necessary to avert a fiscal crisis -- but with cheap energy seen as a basic part of the social contract between the government and the population, such measures are expected to have wide-reaching political repercussions. Impacts A decision to reverse subsidy cuts in the face of protest would undercut government credibility and reduce the prospect of further reforms. Yet persisting with subsidy reforms could damage government legitimacy and political capital among the youth and lower classes. Successful reforms will improve the long-term economic outlook, and the succession prospects of Deputy Crown Prince Mohammed bin Salman.

New Romanian coalition will retreat from reform

2021 ◽  
Keyword(s):  
Civil Society ◽  
Liberal Party ◽  
Social Democrats ◽  
Content Type ◽  
The Social ◽  
The Government

Significance This autumn, bitter conflict between the National Liberal Party (PNL) and the Save Romania Union (USR) ended a brief period of centre-right rule, after years of domination by the Social Democrats (PSD). Former army chief Nicolae Ciuca heads the government, which the PSD dominates alongside a much-weakened PNL. Impacts The government may struggle to persuade a suspicious populace to back vaccination, given previous PSD reluctance for anti-COVID-19 measures. The pandemic may deter civil society from mobilising against abuses of power to the extent it did during the last PSD government. The government's dilemma will be curbing the justice system's independence without provoking a strong EU reaction.

Accounting for gaming in the time of plague: COVID-19 in Macau

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Carlos Noronha ◽  
Jieqi Guan ◽  
Sandy Hou In Sio
Keyword(s):  
Critical Event ◽  
Gaming Industry ◽  
Content Type ◽  
The Public ◽  
The Social ◽  
Social Account ◽  
The Government ◽  
The Impact ◽  
Practical Implications

Purpose While the COVID-19 virus has been spreading worldwide, some studies have related the pandemic with various aspects of accounting and therefore emphasized the importance of accounting research in understanding the impact of COVID-19 on society as a whole. Recent studies have looked into such an impact on various industries such as retail and agriculture. The current study aims at applying a sociological framework, sociology of worth (SOW), to the gaming industry in Macau, the largest operator of state-allowed gambling and entertainment in China, which will allow for its development during the COVID-19 pandemic to be charted. Design/methodology/approach The study uses the theory of SOW as a framework and collects data from various sources, such as the government, gaming operators and the public, to create timelines and SOW frameworks to analyze the impact of the virus on the gaming industry and the society as a whole. Findings Detailed content analysis and the creation of different SOW matrices determined that the notion of a “lonely economy” during a time of a critical event may be ameliorated in the long term through compromises of the different worlds and actors of the SOW. Practical implications Though largely theory-based, this study offers a thorough account of the COVID-19 incident for both the government and the gaming industry to reflect on and to consider new ways to fight against degrowth caused by disasters or crises. Social implications The SOW framework divides society into different worlds of different worths. The current study shows how the worths of the different worlds are congruent during normal periods, and how cracks appear between them when a sudden crisis, such as COVID-19, occurs. The article serves as a social account of how these cracks are formed and how could they be resolved through compromise and reconstruction. Originality/value This study is a first attempt to apply SOW to a controversial industry (gaming) while the effects of the COVID-19 pandemic are ongoing. It offers a significant contribution to the social accounting literature through its consideration of the combination of unprecedented factors in a well-timed study that pays close attention to analyses and theoretical elaboration.

Portuguese coalition parties may clash over austerity

2016 ◽  
Keyword(s):  
Economic Growth ◽  
European Commission ◽  
Budget Deficit ◽  
Banking Sector ◽  
Content Type ◽  
Rating Agencies ◽  
Structural Funds ◽  
The Government

Significance This reflects the significant risks lying ahead for the government despite the European Council's decision on August 9 to waive fines for Portugal over its excessive budget deficit in 2015. Impacts The European Commission retains the possibility of suspending structural funds for Portugal. The decision to waive the fine could undermine the credibility of EU rules in the long term. Slower economic growth and the weak banking sector could lead to Portugal being downgraded by rating agencies.

Kyrgyz referendum may be Pyrrhic victory

2016 ◽  
Keyword(s):  
Democratic Party ◽  
Public Understanding ◽  
Local Elections ◽  
Social Democratic Party ◽  
Social Democrats ◽  
Content Type ◽  
The Social ◽  
Pyrrhic Victory ◽  
Constitutional Changes

Subject Kyrgyzstan's constitutional referendum. Significance Now that President Almazbek Atambayev has secured the constitutional changes he wanted, it is unclear how he benefits. The December 11 referendum was a success in its own terms despite the dearth of public understanding of the issues, but was accompanied by an acrimonious divorce between the ruling Social Democratic Party and its long-term coalition partner, Ata-Meken. Impacts A weaker government and divided parliament will struggle to focus on chronic and serious economic problems. The Social Democrats are in a stronger position nationwide thanks to their strong showing in simultaneous local elections. Kyrgyz nationalist and conservative groups will feel emboldened as some of the amendments are seen as concessions to them.

Immigration policy could topple Swedish government

2016 ◽  
Keyword(s):  
Asylum Seekers ◽  
Green Party ◽  
Social Democrats ◽  
Content Type ◽  
Minority Government ◽  
Budget Proposal ◽  
The Social ◽  
The Government ◽  
Immigration Issue ◽  
Clear Majority

Significance This is a lower forecast than the 170,000 the agency predicted in October, before Sweden reimposed controls at its border with Denmark. The immigration issue is causing strains within the minority two-party coalition government. The junior Green Party has lost several key battles in the last couple of months and is said to be questioning its participation in the government. Some scepticism has crept into the ranks of the Social Democrats as well, with several senior members encouraging the leadership to form a new government with the Moderate Party. Impacts With so many asylum seekers already in the country, Sweden's infrastructure will be pushed to the limit. Every misstep will cause further problems for the government. The Greens will either be allowed to push their own agenda within the government, or will break away. With polls showing a clear majority for the opposition, the temptation to bring down the government may prove too hard to resist. If the opposition joins forces to submit a budget proposal in the autumn, the current minority government must resign.

Romanian ruling party could limit post-Dragnea reforms

2019 ◽  
Keyword(s):  
Foreign Policy ◽  
Presidential Election ◽  
Budget Deficit ◽  
European Parliament ◽  
Social Democrats ◽  
Content Type ◽  
Judicial Appointments ◽  
The Social ◽  
Ruling Party ◽  
The Eu

Subject Romania after Dragnea. Significance For much of the last five years that Liviu Dragnea controlled the Social Democrats (PSD), he also dominated the Romanian state politically. His 42-month sentence for corruption, handed down on May 27, has opened up a vacuum in the ruling PSD, and there is no obvious successor. The verdict came immediately after two electoral blows -- massive defeat in the European Parliament (EP) elections; and a resounding rebuff in a non-binding referendum in which over 80% opposed PSD attempts to amend or cancel anti-corruption legislation. Impacts President Iohannis is likely to assert himself in foreign policy, but has lost leverage in deciding senior judicial appointments. The presidential election this autumn may not be crucial in the tussle for power, as the presidency has much-reduced powers. The EU will be highly critical of Romania’s fast-increasing budget deficit, a legacy of the Dragnea era.

New government will strengthen EU values in Lithuania

2021 ◽  
Keyword(s):  
Human Rights ◽  
Foreign Policy ◽  
Political Culture ◽  
Government Policy ◽  
Social Issues ◽  
Good Practice ◽  
Social Democrats ◽  
Content Type ◽  
The Social

Significance The Homeland Union-Christian Democrat (TS-LDK)-led government sworn in on December 11 will make no changes to Lithuania’s US- and EU-aligned and anti-Moscow foreign policy. The conservative-liberal cabinet is more coherent than its predecessor, the country’s youngest (average age 42) and its most female (six ministers out of 14). Impacts Government policy will absorb previous cabinets’ good practice. Lithuania’s democratic political culture will improve after the toxic rule of the LZVS-led coalition. The opposition will be divided on values but agree on social issues, with the Social Democrats contributing to human rights policies.

Slovene premier's fall might end privatisation policy

2015 ◽  
Keyword(s):  
At Risk ◽  
Economic Stability ◽  
Social Democrats ◽  
Content Type ◽  
The Social ◽  
Government Stability ◽  
Strategic Assets ◽  
Privatisation Programme ◽  
Growth Prospects

Subject The challenge to Slovenia's privatisation programme. Significance Slovenia's privatisation programme faces a new challenge with the emergence of an open rift between the ruling Modern Centre Party (SMC) and one of its coalition partners, the Social Democrats (SD), over the behaviour of Defence Minister Janki Veber. The first casualty will be Telekom Slovenije, whose sale will inevitably be postponed. The wider privatisation programme is also at risk from persistent public hostility to the sale of strategic assets. Impacts The latest rift will weaken government stability and could cause it to collapse. The open display of dissent over privatisation will both deter strategic investors and complicate further sales of state-owned assets. Failure to deliver on the privatisation programme poses a risk to Slovenia's economic stability and long-term growth prospects.

Danish government plans are largely aspirational

2019 ◽  
Keyword(s):  
Welfare Reform ◽  
Immigration Policy ◽  
Prime Minister ◽  
Social Democrats ◽  
Population Forecast ◽  
Content Type ◽  
People's Party ◽  
Minority Government ◽  
The Social ◽  
The Government

Subject Denmark's new government. Significance On June 26, Denmark’s Social Democrats (SD) led by Prime Minister Mette Frederiksen formed a single-party minority government with the support of the Social Liberals, the Socialist People’s Party and the Red-Green Alliance, its three allies in the centre-left 'red bloc'. The government's plans primarily focus on ambitious climate reform, welfare reform and a broad continuation of Denmark’s strict immigration policy. Impacts Immigration will remain a top electoral concern for decades, with the immigrant population forecast to grow faster than the national one. In order to reclaim lost support, the anti-immigrant Danish People’s Party (DPP) will need to adopt a pro-environmental policy. Even if relations within the red bloc worsen, the parties that support the SD will be reluctant to collapse the government.

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