European Union

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Over the past few years, most European countries were growing increasingly skeptical about the future of the European Union, largely due to the fact that a number of problems, while being unaddressed, including the migration crisis, and the weakening banking system, overtime transformed into a major crisis. But the most serious danger to the future of the EU is a growing mistrust that most Europeans now have towards the political institutions that were supposed to guide them.

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Austrian Chancellor Werner Faymann has blamed Germany's open door policy as well as a lack of cooperation between EU member states on the refugee crisis and has said that Austria will no longer be a ‘distribution hub’ for refugees.
Faymann shifted the responsibility for tackling the refugee crisis on Germany by saying that it “should set up a daily quota and then bring these refugees directly from Greece, Turkey or Jordan," as he gave an interview to the Austrian Kurier on Tuesday.

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The British pound slumped to its 2009 lowest recently due to declines in the oil and stock markets, with the broader UK economy insufficiently robust to support a higher exchange rate, yet, the GBP devaluation prospects are still questionable.