Regional GDP per capita ranges from 29% to 611% of the EU average in 2016, at 83% in Cyprus

_: In 2016, regional GDP per capita, expressed in terms of purchasing power standards, ranged from 29% of the European Union (EU) average in the Bulgarian region of Severozapaden, to 611% of the average in Inner London – West in the United Kingdom, according to Eurostat, the statistical office of the EU.

According to Eurostat, the leading regions in the ranking of regional GDP per capita in 2016, after Inner London – West in the United Kingdom (611% of the average), were the Grand Duchy of Luxembourg (257%), Southern and Eastern in Ireland (217%), Brussels in Belgium and Hamburg in Germany (both at 200%).

There were 19 regions with GDP per capita 50% or more above the EU average in 2016: five were in Germany, three in the United Kingdom, two in Austria, one each in Belgium, the Czech Republic, Denmark, Ireland, France, the Netherlands, Slovakia and Sweden, as well as the Grand Duchy of Luxembourg.

After Severozapaden in Bulgaria (29% of the average), the lowest regions in the ranking were Mayotte in France (33%), Severen tsentralen and Yuzhen tsentralen in Bulgaria (both 34%) and Nord-Est in Romania (36%).

Among the 21 regions with GDP per capita below 50% of the EU average, five were in Bulgaria and Poland, four in Hungary, three in Romania and Greece and one in France.

Cyprus is considered to be one, single europen region and in these terms its GDP was 18.123 billion euro in 2016 and the GDP per capita stood at 21 300 euro (24 100 euro expressed in PPS at 83% of the EU average).

Meanwhile, according to Eurostat Euro area annual inflation is expected to be 1.2% in February 2018, down from 1.3% in January 2018. Looking at the main components of euro area inflation, energy is expected to have the highest annual rate in February (2.1%, compared with 2.2% in January), followed by services (1.3%, compared with 1.2% in January), food, alcohol and tobacco (1.1%, compared with 1.9% in January) and non-energy industrial goods (0.7%, compared with 0.6% in January).

Source: Cyprus News Agency

ZCZC

Protocol relating to the Sovereign Base Areas in Cyprus, in the Draft withdrawal agreement of the UK

_: The European Commission Draft Withdrawal Agreement on the withdrawal of the United Kingdom of Great Britain and Northern Ireland from the European Union and the European Atomic Energy Community, also quotes in page 107 the “Protocol relating to the Sovereign Base Areas in Cyprus”.

The text published by the European Commission reads as follows: “Since the arrangements applicable to relations between the Union and the Sovereign Base Areas in Cyprus will continue to be defined within the context of the Republic of Cyprus’ membership of the Union, appropriate arrangements have been determined to achieve, after the withdrawal of the United Kingdom from the Union, the objectives set out in Protocol 3 to the Act of Accession of the Republic of Cyprus to the Union”.

The text is referring to the “Act concerning the conditions of accession of the Czech Republic, the Republic of Estonia, the Republic of Cyprus, the Republic of Latvia, the Republic of Lithuania, the Republic of Hungary, the Republic of Malta, the Republic of Poland, the Republic of Slovenia and the Slovak Republic and the adjustments to the Treaties on which the European Union is founded – Protocol No 3 on the sovereign base areas of the United Kingdom of Great Britain and Northern Ireland in Cyprus”, OJ L 236, 23.09.2003, p. 940-944.

The Protocol relating to the Sovereign Base Areas in Cyprus shall apply as from the end of the transition period.

According to the European Commission, “the draft Withdrawal Agreement translates into legal terms the Joint Report from the negotiators of the European Union and the United Kingdom Government on the progress achieved during phase 1 of the negotiations, published on 8 December 2017, and proposes text for those outstanding withdrawal issues which are mentioned in, but not set out in detail, in the Joint Report. It also integrates the text on the transition period, based on the supplementary negotiating directives adopted by the Council (Article 50) on 29 January 2018”.

The draft Withdrawal Agreement consists of six parts � including introductory provisions, citizens rights, other separation issues such as goods placed on the market before the withdrawal date, the financial settlement, transitional arrangements, and institutional provisions � and a protocol on Ireland / Northern Ireland. This protocol operationalizes the third option outlined in the Joint Report, in order to avoid a hard border on the island of Ireland. “This is the fall-back solution of the Joint Report, which applies in the absence of other agreed solutions”, according to the EC. “This draft protocol does not prejudge discussions on the other two options”, states the EC.

Source: Cyprus News Agency