These are the headlines of our weekly Insight EU Finance Monitoring, published last Friday night. We publish the headlines of our Insight EU Monitoring mails delayed by several days. To receive real-time monitoring emails, subscribe to our annual target group full-text services on the Insight EU Store page.
On 29 August, EU Member States represented in the Climate Change Committee endorsed an amendment to the Monitoring and Reporting Regulation proposed by the EU Commission.
The EU Commission today adopted 4 guidance documents to support EU countries’ work in transposing and implementing the revised directives on renewable energy and energy efficiency into national law.
These are the headlines of our weekly Insight EU Finance Monitoring, published last Saturday. We publish the headlines of our Insight EU Monitoring mails delayed by several days. To receive real-time monitoring emails, subscribe to our annual target group full-text services on the Insight EU Store page.
According to Bruegel, the EU countervailing duties (CVDs) on electric cars from China overstate the problem and are a mistake. They will harm EU citizens more than help them, and they will eventually backfire on the European automotive industry.
The U.S. economy has turned in a strong performance over the past few years. Hysteresis effects from the pandemic did not materialize and both activity and employment now exceed pre-pandemic expectations. Real incomes were diminished by the unexpected rise in inflation in 2022 but have now risen above pre-pandemic levels. Job growth has been particularly fast with 16 million new jobs created since end-2020.
The German economy has begun to recover from the energy-price shock. Gradual economic recovery is expected to continue this year. Risks to the outlook are broadly balanced.
Frankfurt/M, 18 July 2024 Monetary policy decisions The Governing Council today decided to keep the
The European Securities and Markets Authority (ESMA), EU’s financial markets regulator and supervisor, published today its Follow-up Report to the Wirecard Fast Track Peer Review assessing the progress made with respect to the recommendations formulated in 2020.
EU Commissioner for Justice, Didier Reynders, travels to Washington DC to conduct the first review of the new framework for safe and trusted EU-US data flows. In its 2023 adequacy decision for the EU-US Data Privacy Framework, the Commission concluded that the US ensures an adequate level of protection for personal data transferred from the EU to US companies.
The United States and the European Union look forward to working with MSP Forum members to coordinate the development of more sustainable and diverse critical minerals projects and promote policies that help us achieve our shared goals during the energy transition.
With 401 votes in favour, the European Parliament elected Ursula von der Leyen as President of the European Commission in a secret ballot on 18 July. What will happening next?
“Generation after generation have made Europe, have chosen a strong Europe. And now that responsibility is up to us. The last five years have shown what we can do together. Let us do it again. Let us make the choice of strength. Let us make the choice of leadership. Let us make the choice of Europe” – Ursula von der Leyen.
Europe now faces a clear choice. A choice to either face up to the uncertain world around us alone. Or to unite our societies and unite around our values. A choice to be dependent, to let the divisions weaken us. Or to be bold in our ambition and sovereign in our action, working with our partners around the world. A choice to ignore new realities or the speed of change. Or to be clear-eyed about the world and threats around us as they really are. A choice to let the extremists and appeasers prevail. Or to ensure our democratic forces stay strong.
International Roundtable for Scaling Up Climate Finance for Benin: Speech by Tobias Adrian, Financial Counsellor and Director of the Monetary and Capital Markets Department of the International Monetary Fund (IMF).
Today, the EU Council reached an agreement on its position on the 2025 EU draft budget. In total, the Council’s position for next year’s budget amounts to €191.53 billion in commitments and €146.21 billion in payments.
The European Investment Bank has confirmed its largest water financing in Jordan to improve water availability, security and sustainability across the country and increase access to water supply, improve sanitation and reduce water losses.
According to Bruegel, the EU countervailing duties (CVDs) on electric cars from China overstate the problem and are a mistake. They will harm EU citizens more than help them, and they will eventually backfire on the European automotive industry.
Under the new law, adopted by 464 votes in favour to 92 against and 65 abstentions, member states will be obliged to protect media independence and all forms of interventions in editorial decisions will be banned.
The network code aims to establish a recurrent process of cybersecurity risk assessments in the electricity sector. These assessments are aimed at systematically identifying the entities that perform digitalised processes with a critical or high impact in cross-border electricity flows, their cybersecurity risks, and then the necessary mitigating measures that are needed.
On Wednesday, Parliament approved the Artificial Intelligence Act that ensures safety and compliance with fundamental rights, while boosting innovation. The regulation, agreed in negotiations with member states in December 2023, was endorsed by MEPs with 523 votes in favour, 46 against and 49 abstentions. The final text still needs to be formally adopted by the Council to become EU law. The AI Act should apply from 2026.
An UNCTAD solution for developing countries to digitalize and share data on natural resources gains renewed significance amid soaring demand for minerals vital for the transition to clean energy.
Today, the U.S. Patent and Trademark Office and the U.S. Copyright Office (collectively the “Offices”) published the results of their joint study on the intellectual property (IP) law and policy implications of non-fungible tokens (NFTs).
Proposed by the European Commission in April 2021, the draft AI act, the first binding worldwide horizontal regulation on AI, sets a common framework for the use and supply of AI systems in the EU. It offers a classification for AI systems with different requirements and obligations tailored on a ‘risk-based approach’.
“We, the EPP, believe in the rule of law and the respect of human rights. We believe that people should live in peace and freedom. We believe in the social market economy. We believe that access to health care and education is not a privilege for a few, it is a right for all. We believe that our children should be safe running free in fields and forests, on playgrounds and football pitches, as we did. They deserve that we care for a healthy future, with a healthy environment. Whether they grow up in the biggest city or the smallest village. And above all, we believe in the dignity of every human being. This is my belief as Christian Democrats” – Ursula von der Leyen.
Employment and social affairs ministers endorsed the agreement reached with the European Parliament on the platform work directive. This new law aims to improve working conditions for platform workers and regulate the use of algorithms by digital labour platforms.
MEPs are set to adopt on Wednesday the Artificial Intelligence Act, which aims to ensure that AI is trustworthy, safe and respects EU fundamental rights, while supporting innovation and making Europe a leader in the field. A press conference by the two rapporteurs is scheduled for Wednesday ahead of the vote.
The joint statement declares that the future 6G technology must be open, secure, sustainable, reliable and accessible. International cooperation is important in ensuring that these objectives are achieved.
According to Bruegel, the EU countervailing duties (CVDs) on electric cars from China overstate the problem and are a mistake. They will harm EU citizens more than help them, and they will eventually backfire on the European automotive industry.
“As we are tragically reminded that peace is not eternal and that security is not a given, the efforts to bolster our collective defense, deterrence and resilience are required more than ever. We reaffirm the centrality of NATO to European security as well as the importance of a stronger and more capable European defense that contributes positively to global and transatlantic security.”
The need for improved crisis management has arisen due to major, complex cross-border threats in the past years. These include the Russian war of aggression against Ukraine, the Covid-19 pandemic and numerous humanitarian crises
“China’s relations with the US and the EU are likely to worsen, because of both its aid for Russia and its economic strategy”, writes Charles Grant, director of the Centre for European Reform.
Im Juni 2022 beschloss der Europäische Rat, der Ukraine den Status eines Kandidatenlandes zu verleihen. Mit diesem Schritt kam Kyjiw politisch gesehen einem EU-Beitritt sehr viel näher als in vielen Jahren zuvor. Ohne die mutige und entschlossene ukrainische Reaktion auf die russische Aggression seit dem 24. Februar 2022 wäre eine solche Entwicklung nicht denkbar gewesen. Es war die nachdrückliche Verteidigung von Werten wie Freiheit, Souveränität und territorialer Integrität, die auch Skeptiker:innen in den EU-Mitgliedstaaten überzeugt hat, diesen Schritt zu gehen.
The European Union gives its full support to the comprehensive roadmap presented by President Biden, that would lead to an enduring ceasefire in Gaza, the release of all hostages and a surge of humanitarian assistance to Gaza.
“We need to protect this election process and the European public debate from malign foreign actors, who want Europe to fail” – EU HR/VP Josep Borrell.
The Council also decided to add the Minister of Defence of the Islamic Republic of Iran and the head of EU-listed Iranian Aviations Industries Organization (IAIO) to the sanctions’ list.
The targeted persons and entifities will be subject to an asset freeze and the provision of funds or economic resources, directly or indirectly, to or for the benefit of those listed is prohibited. Additionally, a travel ban to the European Union will apply to the listed individuals.
Ukraine’s four-year EFF Arrangement with the IMF, which forms part of a US$122 billion international support package, continues to provide a strong anchor for the authorities’ economic program in times of exceptionally high uncertainty.
In a meeting chaired by NATO Secretary General Jens Stoltenberg, Allies made progress on preparations for the Washington Summit in July and agreed that providing support to Ukraine should remain a top priority.
The Vice-President will hold high level consultations with the Royal Court and the Government. He will meet with religious leaders to exchange on EU-Jordan cooperation on interfaith dialogue and promoting freedom of religion and belief.
At the end of May, Swedish Prime Minister Ulf Kristersson hosted a Nordic-Ukrainian Summit in Stockholm, in which Ukrainian President Volodymyr Zelenskyy took part. During the Summit a declaration was adopted: Joint statement of the Nordic-Ukrainian Summit in Stockholm.
On 30 April 2024, seven European projects were selected for EU financial support in the Innovation Fund’s pilot hydrogen auction (IF23 Auction). Ssix out of those seven projects have now signed their respective grant agreements.
The prohibition of hunting wolves in Austria is valid. A derogation from that prohibition to prevent economic damage is only to be granted if the wolf population is at a favourable conservation status, which is not the case in Austria.
Die CDU/CSU-Gruppe hat ein Positionspapier „Europäischer Stahlpakt“ mit Sofortmaßnahmen für eine starke europäische Stahlindustrie beschlossen.
Executive Vice-President for the European Green Deal, Maroš Šefčovič, travels to Slovenia and Croatia to participate in the 5th Annual Political Dialogue of the Coal Regions in Transition Initiative and discuss with national and regional authorities and stakeholders the initiatives undertaken to advance the green transition and decarbonise European industry.
On 11-12 July, EU Climate Commissioner Wopke Hoekstra will represent the Commission at the informal meeting of environment ministers in Budapest.
The report will serve as a basis for further action to reinforce security of supply of a first tranche of 11 critical medicines from the Union list of critical medicines.
The ambitious EU climate neutrality targets aim to achieve net-zero greenhouse gas emissions by 2050. To realize this vision, fast and extensive decarbonisation efforts are necessary across all sectors.
OECD labour markets remain tight, with total employment higher than before the COVID-19 pandemic and the OECD unemployment rate close to its lowest level since at least 2001. Jobs growth has slowed, however, and real wages have recovered to pre-2020 levels in only 19 of the 35 OECD countries.
The EU Commission has approved the acquisition of sole control of Greenergy Halo Holdings III Limited of the UK by Trafigura Group Pte. Limited of Singapore. The transaction relates primarily to the supply of biodiesel, ethanol, and bioethanol.
The EU Commission proposed to mobilise €77 million from the agricultural reserve to support farmers from the fruit, vegetables and wine sectors of Austria, Czechia, Poland who have recently suffered from adverse climatic events of unprecedented magnitude, as well as Portuguese wine producers who face serious market disturbances.
ACER has issued two decisions that amend the EU electricity balancing including the implementation framework for the PICASSO platform and the balancing pricing methodology on all EU balancing platforms.
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