EU leaders hail summit victory on migration
European markets saw an uptick today as European leaders reached an agreement over migration. Italy had threatened to veto the entire program unless the EU reached a satisfactory decision that would reduce the pressure from migrants arriving in Italy via the Mediterranean. The decision avoided the controversial setting of quotas, and instead announced that processing centers will be created “on a voluntary basis,” where migrants will be kept until their claims can be processed. In practice, this would likely mean the creation of processing centers most North African countries. Already, a number of these countries have ruled out the possibility. The announced plan may provide Europe with a way forward, but a stagnation of implementation attempts could further escalate the political controversy and increase the influence of far-right parties across Europe.