Calendar of Economic Events. Third Quarter 2014

In response to poor cyclical prospects and low inflationary expectations, the ECB introduces non-standard purchasing programmes and adds securities of higher risk to its assets. Jean-Claude Juncker is confirmed President of the European Commission by the European Parliament. The European Council elects Donald Tusk as President and Federica Mogherini as High Representative of the Union for Foreign Affairs and Security Policy. Scotland's voters reject secession from the United Kingdom of Great Britain and Northern Ireland. Canada and the EU sign the "Comprehensive Economic and Trade Agreement" (CETA) that is regarded as a model for the TTIP free trade agreement. It still needs to be ratified by the EU member countries where it is likely to be opposed in some quarters. In reaction to the further escalating conflict in eastern Ukraine, the EU and the USA impose sanctions against Russia. In retaliation, Russia imposes a ban on agricultural imports from the EU, the USA, Canada, Australia and Norway. – Austria: after the resignation of Vice Chancellor and Minister of Finance Michael Spindelegger, the government is reshuffled. Reinhold Mitterlehner is appointed Vice Chancellor and Johann Georg Schelling Minister of Finance. With the ad-hoc Act on the winding-up of Hypo Alpe-Adria-Bank International AG, the Austrian Parliament decides against the bankruptcy option. As from September 2014, all EU member countries are bound to apply ESA 2010; the reclassification of the government sector implies a change in the reported level of public debt.