In the second quarter of 2024, the EU imported €94.9 billion worth of energy products, amounting to a total of 177.9 million tonnes. Compared with the same quarter of 2023, imports decreased both in value (-10.7%) and in net mass (-9.7%). A slight increase was reported in the value of imported petroleum oils (+5.6% compared with the second quarter of 2023), while the volume of imports recorded a small decline
Luxembourg’s government has approved a mix of temporary and permanent measures to reinvigorate growth and boost competitiveness. The moderately expansionary fiscal stance is broadly appropriate to support growth, but more targeted and temporary measures would have been more efficient.
The European Banking Authority (EBA) today launched a consultation on three sets of draft Regulatory Technical Standards (RTS) aiming to standardise the collection and the record of operational risk losses and to provide clarity on the exemptions for the calculation of the annual operational risk loss.
The European Banking Authority (EBA) has been actively working on shaping the regulatory landscape for crypto assets by publishing three regulatory products on governance, conflicts of interest and remuneration under MiCAR.
The European Supervisory Authorities EBA, EIOPA, and ESMA – the ESAs) today announced that they have concluded a multilateral Memorandum of Understanding (MoU) to strengthen cooperation and information exchange with the European Union Agency for Cybersecurity (ENISA).
With a growth rate of 2.5 percent in 2023 and continued solid activity momentum, the Spanish economy has demonstrated remarkable resilience to elevated global uncertainty and tighter financial conditions. Robust services export performance and public consumption have been the main drivers of recent growth.
“The truth is, that the challenges faced by Europe need, as part of the solution, stronger capital markets. Yet, the fact is that Europe’s capital markets remain somewhat underdeveloped and fragmented. So fresh perspectives are needed” – ESMA Chair Verena Ross.
“Based on our updated assessment of the inflation outlook, the dynamics of underlying inflation and the strength of monetary policy transmission, it is now appropriate to moderate the degree of monetary policy restriction after nine months of holding rates steady” – ECB statement.
The European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) today published their final Reports on Greenwashing in the financial sector.
“The Basel III rules were developed as a response to the global financial crisis of 2008-2010 – so these rules are addressing an issue that was identified already 15 years ago. They have been implemented in different stages, and we’re now in the final phase…. And now it is for us to develop the second level legislation over the next three or four years” – EBA Chair Campa,
The IMF Executive Board completes Kosovo’s reviews under the Stand-By Arrangement, the Arrangement under the Resilience and Sustainability Facility, and a request for modification of reform measures.
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