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.
By the end of 2023, EU Member States had drawn down less than a third of the planned EU COVID-19 recovery funds. Only around half of the money transferred from Brussels to national capitals reportedly reached final recipients. Auditors even flag risks of funding absorption slowing further and projects not being completed as planned.
On September 1, the EU-Angola Sustainable Investment Facilitation Agreement (SIFA) has entered into force. This is the first-ever EU agreement on investment facilitation.
“To assess whether the current monetary and financial conditions will secure a timely return of inflation to target, policymakers need to take a stand on the likely future evolution of the economy” – Lecture by Isabel Schnabel, Member of the Executive Board of the ECB, at the Ragnar Nurkse Lecture Series organised by Eesti Pank in Tallinn, Estonia.
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.
Eurojust and the United States Department of Justice brought together senior European and US officials, prosecutors and law enforcement members to combat the unlawful transfer of sensitive technology to foreign adversaries. The meeting on 12 July emphasised the urgent need to stop the illicit export of goods to Russia in light of its ongoing war of aggression against Ukraine.
The President of the European Economic and Social Committee (EESC), Oliver Röpke, signed a Memorandum of Understanding (MoU) with the African Union Economic, Social and Cultural Council (ECOSOCC) represented by its Presiding Officer, Khalid Boudali. What is it about?
The Board of Directors of the European Investment Bank (EIB) today approved €8.4 billion of new financing to build homes and schools, harness renewable energy, upgrade water, transport and communications networks and bolster business innovation and growth in Europe and around the world.
Today, the Commission has given a positive assessment for the first regular payment of close to €4.2 billion under the EU’s Ukraine Facility, to support Ukraine’s macro-financial stability and the functioning of its public administration.
The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) published today the second batch of policy products under the Digital Operational Resilience Act (DORA).
The three European Supervisory Authorities (EBA, EIOPA and ESMA – the ESAs) will establish the EU systemic cyber incident coordination framework (EU-SCICF).
These reports describe the investment climates of more than 160 countries and economies, helping U.S. companies make informed decisions about doing business overseas.
At the World Trade Organisation (WTO), the ninth review of the trade policies and practices of China takes place on 17 and 19 July 2024. The basis for the review is a report by the WTO Secretariat and a report by the Government of China, both embedded in this report.
On Wednesday, MEPs approved the proposal on the number of members in Parliament’s 20 committees and four sub-committees, as well as its 48 standing delegations.
The EU Commission has selected 134 transport projects to receive over €7 billion in EU grants from the Connecting Europe Facility (CEF), the EU’s instrument for strategic investment in infrastructure. This represents the largest call under the current CEF Transport programme.
The EU General Court judged today that the EU Commission did not give the public sufficiently wide access to the purchase agreements for Covid-19 vaccines. That infringement concerns, inter alia, those agreements’ provisions on indemnification, and concerns the declarations that there was no conflict of interest on the part of the members of the team who negotiated the purchase of the vaccines. Read how the EU Commission reacts.
The Canadian economy appears to have achieved a soft landing: inflation has come down almost to target, while a recession has been avoided, with GDP growth cushioned by surging immigration even as per capita income has shrunk. Housing unaffordability has risen to levels not seen in a generation, with demand boosted by immigration and supply facing continued challenges to expansion.
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 survey is facilitated by ICOS, a three-year Coordination and Support Action (CSA) from the European Commission, part of Horizon Europe. It is an ambitious project in the framework of the European strategy on semiconductors.
The European Banking Authority (EBA) today launched a consultation on the Guidelines for the plans to orderly redeem asset-referenced or e-money tokens in the event that the issuer fails to fulfil its obligations under the Markets in Crypto assets Regulation (MiCAR).
The COVID-19 pandemic and the regional conflicts have negatively affected economic development in Eastern Europe and the South Caucasus (EESC), significantly disrupting international trade, investment and cooperation. To achieve a resilient recovery and support the transition to knowledge-based and circular economy, innovation will be central to the EESC countries’ abilities to address social and economic challenges.
As it stands, it is unknown whether the European AI Act will stimulate responsible AI use or smother innovation. Bruegel, a leading European think tank, analyses how governments around the world are creating regulation to come to grips with the perceived risks of Artificial Intelligence (AI).
As of today, Apple, Alphabet, Meta, Amazon, Microsoft and ByteDance, the six gatekeepers designated by the Commission in September 2023, have to fully comply with all obligations in the Digital Markets Act (DMA). The DMA aims to make digital markets in the EU more contestable and fairer. It establishes new rules for 10 defined core platform services, such as search engines, online marketplaces, app stores, online advertising and messaging, and gives new rights to European businesses and end-users.
The EU Commission has appointed Alexander Winterstein as Director for ‘Political Communication and Services’ at the Commission’s Directorate-General for Communication (DG COMM). This department is responsible for communicating to the media and the public the political priorities of the Commission and EU policies, and it also keeps the Commission abreast of political developments and of trends in public opinion and the media.
Aiming to enhance the quantity, quality and impact of such reporting, in as many languages and EU countries as possible and particularly where this offer is scarce, this call is split into two topics. €8 million are available for media outlets who submit proposals for the production and broadcasting of programmes and reports on EU affairs. Another €3 million are available for proposals for news services in languages with limited coverage of EU affairs (including an international news service in Hungarian).
The European Commission has fined Apple over €1.8 billion for abusing its dominant position on the market for the distribution of music streaming apps to iPhone and iPad users (‘iOS users’) through its App Store. In particular, the Commission found that Apple applied restrictions on app developers preventing them from informing iOS users about alternative and cheaper music subscription services available outside of the app (‘anti-steering provisions’). This is illegal under EU antitrust rules.
Today, the Commission has formally sent Meta a request for information (RFI) under the Digital Services Act (DSA). The Commission is requesting Meta to provide more information related to the Subscription for no Ads options for both Facebook and Instagram.
The European Commission opened a new set of calls for proposals under the 2023-2024 Work Programmes of the Digital Europe Programme to strengthen digital capacities across EU. These calls are open to businesses, public administrations, and other entities from the EU Member States, EFTA/EEA countries, and associated countries. The budget for this set of calls is over €176 million.
Strasbourg, 9 October 2024 Repressive laws are stifling media, civil society and the LGBTQ+ community
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.
The past years have shown that significant challenges related to irregular migration and security caused by visa-free travel. One such challenges derives from investor citizenship schemes operated by visa-free countries.
The Strategic Technologies for Europe Platform (STEP) aims to support the development and manufacturing of critical technologies relevant to the EU green and digital transitions, as well as the EU’s strategic sovereignty.
A large-scale ring of luxury car thieves has been dismantled with the support of Eurojust and Europol. Using straw men and underprivileged people, the criminals hired or leased luxury vehicles, which they later registered in their own names through corrupt connections in official institutions.
Director General Rafael Mariano Grossi met with senior Russian officials this week as part of the continuing efforts of the International Atomic Energy Agency (IAEA) to help prevent a nuclear accident at Ukraine’s Zaporizhzhya Nuclear Power Plant (ZNPP).
The agreement will strengthen our cooperation with Kenya, the economic hub of East Africa. Workers, businesses and traders on both sides will benefit from this shared commitment to sustainable development, including labour rights, the environment and climate action.
The Swedish Government recognises the need for both broader and deeper China expertise to manage both challenges and opportunities emanating from China’s growing influence.
Spearheading the European Union’s judicial response to the war in Ukraine, and digitalising criminal justice, were at the heart of Eurojust’s work in 2023, and will continue to be so, says the Agency’s Annual Report, published today.
The European Commission made €3 million available under the Internal Security Fund (ISF) for projects strengthening the prevention of and fight against corruption.
The agreement will allow the EU and Serbia to organise joint operations involving Frontex and the Serbian border guards. It also means that Frontex border management teams can be deployed in Serbia, and will allow Frontex to assist Serbia in managing migratory flows, countering illegal immigration and tackling cross-border crime.
“The new and stricter rules will strengthen our systems in the fight against money laundering and terrorist financing. A new agency based in Frankfurt will supervise the work of actors involved” – Vincent Van Peteghem, Belgian minister for finance, for the EU Council Presidency.
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.
Türkiye is an active participant in the EU Civil Protection Mechanism and has been a member since 2016. Today’s updated agreement further strengthens the role of Türkiye in the mechanism.
The EU Joint Procurement Agreement is a legal and operational mechanism which enables participating countries to join forces in the face of a serious health threat and to jointly purchase essential supplies, such as medicines and medical equipment.
A broader analysis, including other European countries and selected global competitors, shows a changing landscape. Switzerland appears as the most innovative European country. South Korea remains the most innovative global competitor in 2024, while China has surpassed Japan and is progressively closing the gap with the EU.
Avian influenza viruses continue to circulate, albeit at low levels, among wild bird populations across the European Union and the European Economic Area (EU/EEA).
Each greenhouse gas absorbs specific colors of light, creating a unique “fingerprint” that can be used to detect it in the atmosphere. To determine the concentration of a particular gas, scientists study light that has passed through air and measure how much light is missing at colors uniquely absorbed by that gas.
On July 2, the United States and Philippines’ Agreement for Cooperation in Peaceful Uses of Nuclear Energy (or “123 Agreement”) entered into force. The Agreement will enhance the cooperation on clean energy and energy security and strengthen our long-term bilateral diplomatic and economic relationships.
Die Bundesregierung hat sich im Rahmen des Wachstumspakets für die Wirtschaft auch auf die Kraftwerksstrategie geeinigt. Diese setzt die im Februar dieses Jahres mit den Koalitionsspitzen gefundene Einigung um. Die Einigung ist auch mit den Dienststellen der Europäischen Kommission abgestimmt.
“If you voted for Labour yesterday we will carry the responsibility of your trust, as we rebuild our country. But whether you voted Labour or not… In fact – especially if you did not… I say to you, directly… My government will serve you. Politics can be a force for good – we will show that. And that is how we will govern. Country first, party second” – UK Prime Minister Keir Starmer.
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published a Final Report on the Guidelines on Enforcement of Sustainability Information (GLESI) and a Public Statement on the first application of the European Sustainability Reporting Standards (ESRS).
“Industry, stakeholders, Member States, European institutions – we all know how important decarbonised gases are. They provide flexibility to the energy system and will replace more carbon intensive fuels in maritime and aviation transport sectors” – EU Energy Commissioner Kadri Simson.
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