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.
A recent report by the EU Agency for Fundamental Rights on the situation of Jewish people in the EU was alarming: Almost all the European Jews surveyed (96%) had encountered antisemitism in the previous 12 months, and most (74%) had encountered it both online and offline. What does the EU Commission do against this wave of antisemitism?
The idea behind the EU regulatory approach is that by providing a sound regulatory framework, homogenous throughout the EU, these risks can be monitored and controlled, while also favouring the desired innovation.
The EU balance for trade in goods was €40.4 billion in the second quarter of 2024, down from €55.3 billion in the previous quarter. As such, the trade balance has now shown a surplus for 4 quarters in a row, following a period of deficits from the fourth quarter of 2021 to the second quarter of 2023, primarily due to a high deficit for energy offsetting surpluses in other product categories.
The European Commission has today raised €11 billion of EU-Bonds in its 9th syndicated transaction for 2024. The dual-tranche transaction concerned a €5 billion tap of the EU-Bond maturing on 6 December 2027, and a €6 billion tap of the EU-Bond maturing on 4 October 2039.
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Bucherer Holding AG and Bucherer Immobilien AG (‘Bucherer’) by Rolex Holding SA (‘Rolex’), all of Switzerland.
The European Commission has approved an approximately €50 million Austrian scheme to support primary agricultural producers in the context of Russia’s war against Ukraine.
Today, the Commission disbursed to Ireland the first payment for €324 million in grants under the Recovery and Resilience Facility (RRF). As for all Member States, payments made to Ireland under the RRF are performance-based and depend on the implementation by Ireland of the investments and reforms described in its recovery and resilience plan.
The ERC grants – each worth €150 000 – help researchers to bridge the gap between the discoveries stemming from their frontier research and the practical application of the findings, including early phases of their commercialisation.
The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) published today a joint report following their workshop on the use of behavioural insights by supervisory authorities in their day-to-day oversight and policy work.
After the new Parliament is established on 16 July at 10.00 CEST, MEPs must first elect their President for the next two-and-a-half years. If elected by MEPs on Thursday, Ursula von der Leyen is set to return to the office of European Commission President for the next five years.
Eine EU-Kommission, deren Präsidentin sich aus den Spitzenkandidierenden der Europawahl rekrutiert und die sich der sozialen Sicherheit, der Friedenssicherung und der Fortführung des Wandels hin zu einer klimaneutralen Wirtschaft verschreibt, könnte sozialdemokratische Unterstützung aus dem Parlament bekommen.
As a direct response following Prime Minister Orbán’s isolated foreign activities in Russia, China and Turkey, the President of Renew Europe calls the European Council to explore all juridical means in order to stop the Hungarian Presidency of the Council and hand it over to Poland.
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.
Der EU-Gerichtshof hat am sein Urteil in der Rechtssache C-757/22, Meta Platforms Ireland (Verbandsklage) zu den Zulässigkeitsvoraussetzungen für Verbandsklagen nach der Datenschutz-Grundverordnung verkündet.
A reference for a preliminary ruling allows the courts and tribunals of the Member States, in disputes which have been brought before them, to refer questions to the Court of Justice about the interpretation of EU law or the validity of an EU act. The Court of Justice does not decide the dispute itself.
“The rapid increase in prices reflected an upswing in demand for goods, strained supply chains, tight labor markets, and sharp hikes in commodity prices exacerbated by Russia’s February 2022 invasion of Ukraine. The run-up was not only for overall headline inflation, but also for its core components” – U.S. Fed Governor Cook.
Today, the EU Commission has adopted the second Work Programme for the digital part of the Connecting Europe Facility (CEF) Digital, which defines the scope and objectives of EU-funded actions to improve Europe’s digital connectivity infrastructures. These actions will receive around €865 million of funding from 2024 to 2027.
In 2022, our trade in goods increased by 66% and trade in services by 62%, compared to pre-CETA levels (2016). On latest figures confirm this upwards trend. In addition, CETA provided the EU with a solid, trusted source of supply for key resources such as energy and raw materials, at a critical moment at the wake of Russia’s war against Ukraine. Concretely, in these sectors, EU imports from Canada increased by a quarter (+ €6 billion) in just one year in 2022 compared to 2021.
The Platform Work Directive aims to ensure that people performing platform work have their employment status classified correctly and to correct bogus self-employment. The agreed text also introduces the first ever EU rules on algorithmic management and the use of artificial intelligence in the workplace.
These are the first-ever guidelines under Article 35 of the DSA and aim to present Very Large Online Platforms and Search Engines with best practices and possible measures to mitigate systemic risks on their platforms that may threaten the integrity of democratic electoral processes.
Today, U.S. Secretary of Commerce Gina Raimondo announced the creation of the U.S. AI Safety Institute Consortium (AISIC), which will unite AI creators and users, academics, government and industry researchers, and civil society organizations in support of the development and deployment of safe and trustworthy artificial intelligence (AI).
In a resolution adopted on Thursday with 433 votes in favour, 56 against and 18 abstentions, Parliament expresses its complete outrage and grave concern about the continuous efforts by Russia to undermine European democracy through various forms of interference and disinformation.
This new series of calls will further support the European semiconductor industry by strengthening collaboration, industrial competitiveness and the transfer of knowledge from laboratories to factories. Consortia can submit proposals on topics addressing a wide range of challenges defined in the Strategic Research and Innovation Agenda – from transistors in silicon chips to embedded AI, connectivity or the coordination and control of complex systems to improve performance and safety.
In its regular package of infringement decisions, the European Commission pursues legal action against Member States for failing to comply with their obligations under EU law. These decisions, covering various sectors and EU policy areas, aim to ensure the proper application of EU law for the benefit of citizens and businesses.
The Council presidency and European Parliament negotiators have reached a provisional agreement on the Strategic Technologies for Europe Platform (STEP).
The platform will mobilise investments in the fields of digital and deep tech, cleantech and biotech, with the overall aim of strengthening the EU’s sovereignty and long-term competitiveness in critical technologies.
The Commission welcomes the political agreement reached between the European Parliament and the Council on the Gigabit Infrastructure Act, proposed by the Commission on 23 February 2023.
UNECE’s Working Party on Automated/Autonomous and Connected Vehicles has adopted the draft of a new regulation that defines provisions for the approval of vehicles with Driver Control Assistance Systems (DCAS) and provides minimum safety requirements for vehicles equipped with the Advanced Driver Assistance System (ADAS), such as lane keep assist.
Today, the EU launched a Humanitarian Air Bridge operation consisting of three flights from Dubai and Brindisi with the first one reaching Beirut on 11 October. The flights will transport EU-owned stocks including hygiene items, blankets and emergency shelter kits, among other items.
EU HR Borrell returned from California with three main takeaways: “First, to keep innovation in Europe, we need to significantly increase investment in the high-tech sector. Second, the EU’s human-centric approach to tech regulation is viewed positively by Californian decision-makers. And third, Europe needs to avoid becoming the adjustment variable for Chinese excess capacity.”
The latest Standard Eurobarometer released today shows that Europeans want to see the EU stronger and more independent, especially in the face of the current global challenges, while they are growing optimistic about the future.
Critical raw materials are resources that are considered important for the whole European economy and face a high risk of supply disruption. The European Critical Raw Materials Act contains a list of critical raw materials and codifies the methodology used for the assessment in law, which will be used to update the critical raw materials list periodically.
The key decisions taken by the EU Commission are presented in this report. The Commission is also closing 74 cases in which the issues with the Member States concerned have been solved without the Commission needing to pursue the procedure further.
“The space sector will play an increasingly important role in the strategic autonomy of Europe. An ambitious space policy will create business opportunities and quality jobs in this fast-growing sector, and will also help our economy, both industry and services, to accelerate the green and digital transitions and be better prepared to compete at global level” – Belgian EU Presidency.
“The Norwegian Government has decided that Norway will recognise Palestine as a state. In the midst of a war, with tens of thousands killed and injured, we must keep alive the only alternative that offers a political solution for Israelis and Palestinians alike: Two states, living side by side, in peace and security”, said Prime Minister Jonas Gahr Støre.
Projects should focus on preventing and identifying victims, raising awareness about trafficking, and providing specialised support for labour, sexual exploitation and forced criminality. These actions will help to integrate victims into society or ensure the safe and voluntary return to their home country.
Brussels, 22 May 2024 The EU Commission welcomes the Council approval on the Guiding framework
The EUDA will provide education and training in the field of the EU’s external action, in particular the Common Foreign and Security Policy, to member states’ diplomats and EU institutions’ staff members working in the field of external relations.
The searches took place this week at the request of the judicial authorities in Besançon in France, in the context of investigations into involuntary manslaughter linked to technical failures that led to tyre explosions.
The EU commended the Moldovan government’s continued commitment to reforms in the areas of rule of law, anti-corruption, democratic institutions, public administration, and the economy, despite challenges stemming from Russia’s war of aggression against Ukraine and hybrid actions against Moldova itself.
UK Deputy Prime Minister, Oliver Dowden, published updated guidance on the use of powers under the National Security and Investment Act (2021) today. How the National Security and Investment Act could affect people or acquisitions outside the UK.
On Thursday and Friday, EU Climate Commissioner Wopke Hoekstra will participate in the Pre-COP29 meeting in Baku, Azerbaijan. With just a month to go until the COP29 UN Climate Change Conference (11 – 22 November), this meeting is a key opportunity for ministers from across the globe to come together ahead of the formal UN climate negotiations.
“Der Net Zero Industry Act ist ein Booster für die Produktion von Netto-Null-Technologien in Deutschland und Europa. Er ist ein Gesetz für Beschleunigung, Bürokratieabbau und mehr Investitionen” – Bundeswirtschafts- und Klimaschutzminister Robert Habeck.
The transaction relates primarily to the operation of an LNG regasification, import and storage terminal in the UK.
La transaction concerne principalement le marché des services de gestion multi-technique visant à améliorer l’efficacité énergétique de bâtiments et d’installations industrielles.
The International Atomic Energy Agency (IAEA) has been informed by the Zaporizhzhya Nuclear Power Plant (ZNPP) that an external radiation monitoring station was destroyed by shelling and fire this week.
The Commission has today authorised the first-ever vaccine against Chikungunya virus – a disease transmitted by infected mosquitoes.
Speaking with members of the World Bank Group Executive Board in Washington, IAEA Director General Rafael Mariano Grossi shared the IAEA’s perspective on nuclear energy.
The EU has taken the final step to exit the Energy Charter Treaty (ECT), a multilateral trade and investment agreement applicable to the energy sector, which is not compatible with the EU’s climate and energy goals under the European Green Deal and the Paris Agreement.
Die Kosten des Klimawandels für Wirtschaft und Gesellschaft werden in den kommenden Jahren und Jahrzehnten immens sein. Die Folgen sind vielfältig: Neben direkten Schäden durch zerstörte Gebäude oder Infrastruktur, Produktions- und Ertragseinbußen oder Gesundheitskosten entstehen auch indirekte Schäden. Verschiedene Methoden und Modelle versuchen, zumindest die monetären Schäden sichtbar zu machen und eine quantitative Abschätzung der Dimension vorzunehmen.
The EU Commission has given a positive assessment of Germany’s modified recovery and resilience plan (RRP), which includes a REPowerEU chapter. The plan is now worth €30.3 billion in grants and covers 17 reforms and 28 investments.
EU leaders have agreed on appointments and nominations for the EU’s top jobs and adopted the strategic agenda for 2024-2029, a policy plan that steers the EU’s future direction and goals. They also adopted conclusions on Ukraine, the Middle East, security and defence, competitiveness, migration, the Black Sea, Moldova, Georgia, hybrid threats, the fight against antisemitism, racism and xenophobia and a roadmap on internal reforms.
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