EU
Stagnant productivity to hold back global wages growth
Sluggish pay growth is challenging socio-economic stability and central bank inflation targets
InternationalEuro-area QE adjustments are likely before year-end
The ECB is likely to adjust its QE programme in face of increased uncertainty and subdued inflation trends
EUPortuguese coalition parties may clash over austerity
Portugal has escaped EU fines for now, but further austerity measures may be necessary
PortugalNegative bond yields will fuel global equity rally
As the universe of negative-yielding government bonds is expanding, equity markets are enjoying a broad-based rally
InternationalGermany's EU leadership role to become more difficult
Germany will seek to protect its economy as its political and financial burden in the EU increases
GermanyPharma and biotech M&A is set to slow globally in 2016
After a feversih 2015, a convergence of factors may cool M&A activity in the sector this year
InternationalCoup aftermath could hit Turkey's automotive sector
Turkey's vehicle sector, just recovered from the 2008 slump, faces difficulties abroad and at home
TurkeyUK Brexit delay would increase uncertainty
Lacking resources and expertise, it is unlikely that the UK government will trigger Article 50 soon
United Kingdom
