Subjects have a somewhat different pool of available actions for the Situation:

Of these, probably the most interesting and different one is the ‘Create Colonial Federation’ one:

We have tons of events related to the Situation, too. And,although we haven’t shown it today, we have specific content related to the formation of the United States of America, which will be triggered by this situation… But that’s all for today! We will come back on Friday, as we will talk in Tinto Flavour about England & Great Britain!

And also remember, you can Pre-Purchase Europa Universalis V now! Cheers!