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.
An international research team has unveiled the first comprehensive global evaluation of 1,500 climate policy measures from 41 countries across six continents. Published in the prestigious journal Science, this unprecedented study provides a detailed impact analysis of the wide range of climate policy measures implemented over the last two decades.
Excessively high or low temperatures presently cause 407,000 fatalities a year. Heat-related deaths, now six times more frequent in southern than in northern Europe, will occur 9.3 times more frequently in the south than in the north by 2100.
The main aim is to follow developments in the video game sector and deepen the dialogue with industry representatives. It will be the occasion to present available funding opportunities for the sector, to recall how the European Commission has supported the industry (for example with the Digital Markets Act), and to discuss what lies ahead.
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 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.
ESMA, the EU’s financial markets regulator and supervisor, has published the results of its 5th stress test exercise for Central Counterparties (CCPs). The results confirm the overall resilience of European Union (EU) CCPs, as well as third-country Tier 2 CCPs, to core credit and liquidity financial risks under the tested scenarios.
The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, is launching today new consultations on different aspects of the Central Securities Depositories Regulation (CSDR) Refit.
The EU Commission has approved the acquisition of sole control of KIKO S.p.A. of Italy by L Catterton Management Limited of the US. The transaction relates primarily to the manufacturing and sale of cosmetic products.
The EU Commission has approved the acquisition of joint control of Solvares Group GmbH by Cheetah Investment SARL and Five Arrows Principal Investments IV Funds. The transaction mainly concerns the enterprise software market.
The EU Commission has approved an amendment of the commitments submitted by Denmark and Sweden in the Commission decision of 29 November 2023 for the recapitalisation of Scandinavian Airlines System AB.
The European Commission has opened an in-depth investigation to assess whether public support granted to the Slovak company NAJPI a.s. for setting up a glass sand extraction site is in line with EU State aid rules.
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.
The EU Commission has proposed to the Council yesterday decisions establishing the existence of excessive deficits for Belgium, France, Italy, Hungary, Malta, Poland, and Slovakia.
In line with the Joint Communication on EU-Türkiye relations from November 2023 and European Council conclusions, the new High-Level Dialogue on Trade aims to tackle the remaining bilateral trade irritants and discuss further areas of cooperation, notably ways to prevent the circumvention of EU sanctions.
Today, the Commission is making a €50 million loan on favourable terms available to Moldova. A further payment of €22.5 million in grants will follow by the end of this month.
The EU has not managed to significantly reduce persistent spending errors in Cohesion policy, whose aim is to reduce social and economic disparities within the EU. European Commission and member state controls are still lacking at every level, according to a review by the European Court of Auditors.
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.
Industries such as finance and health care need to monitor incoming internet data for evidence of malware and insider cyberattacks. The latest internet security protocol, known as TLS 1.3, makes it more challenging to comply with these requirements while maintaining web traffic security.
The European Union and its Member States express solidarity with Australia on the impact of malicious cyber activities against their healthcare sector, notably against a major health service provider, Medibank.
The Economic and Monetary Affairs Committee adopted new rules to streamline reporting obligations and reduce the administrative burden for the European Union’s financial sector.
The Commission takes note of Amazon’s and iRobot’s decision to terminate their agreement according to which Amazon intended to acquire sole control over iRobot. The abandonment follows the findings of the Commission’s in-depth investigation and the sending of a Statement of Objections on 27 November 2023.
The European Blockchain Sandbox has opened its second round of calls for innovative use cases involving Distributed Ledger Technologies. Public entities and private sector companies in the European Economic Area, including start up and scale-ups, can now apply for the second cohort of the European Blockchain Sandbox with innovative use case projects.
The U.S. National Institute of Standards and Technology (NIST) updates its Privacy Framework to Version 1.1. NIST will also develop a joint NIST frameworks Data Governance Profile. Stakeholders have expressed a desire for more support in using NIST frameworks and resources together. Data governance is the starting point for many organizations seeking the benefits of data while managing privacy, cybersecurity, AI, and IoT risks. A Data Governance Profile offers a means to effectively demonstrate complementary use of NIST resources.
Under the new rules, political advertising will have to be clearly labelled. Citizens, authorities and journalists will be able to easily obtain information on why they are seeing an ad, who is financing it, where are they established, how much have they paid and to which elections or referendum the message is linked. All political advertising and related information will be stored in a public online repository.
The Legal Affairs Committee adopted on Wednesday, with 13 votes for, no votes against and 10 abstentions, its position on new rules to support the so-called standard-essential patents (SEPs). These patents protect cutting-edge technologies, such as Wi-Fi or 5G, which are essential to a technical standard, meaning that e.g. no Internet of Things (IoT) products can be developed without using them. They also play a key role in the development of connected vehicles, smart cities and technologies to mitigate climate change.
The European Commission has today adopted a Communication outlining its strategic vision to foster the internal development and use of lawful, safe and trustworthy Artificial Intelligence systems. With this, the Commission anticipates and prepares internally for the implementation of the EU AI Act, the world’s first comprehensive law on AI. It includes concrete actions about how the Commission will build institutional and operational capacity to ensure safe, transparent, and human-centred use of AI in its work.
The European Commission wants to support European startups and SMEs in the development of trustworthy Artificial Intelligence (AI) that respects EU values and rules. This follows the political agreement reached in December 2023 on the EU AI Act – the world’s first comprehensive law on Artificial Intelligence.
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.
As from 19 May, new rules to harmonise criminal offences and penalties for the violation of EU restrictive measures enter into force. The new rules will ensure that such violations can be criminally investigated and prosecuted in all Member States.
“The results of our collective efforts are clear to all. We have made a massive cut in Russian energy imports, squeezing the Kremlin’s war economy and standing in solidarity with our Ukrainian friends” – EU Commission.
A new aid shipment from Cyprus to Gaza via the Maritime Corridor and the newly constructed US pier is taking place today, carrying EU supplies.
Hungary’s defense minister said that even as a NATO member, only those countries that had an independent, genuinely capable and powerful army could defend themselves: “If a member state does not have that, then even NATO does not guarantee sufficient protection.”
With no end in sight to the war in Ukraine, the EU has started preparing for the post March 2025 period, when temporary protection for displaced people from Ukraine ends.
The EU Commissioner for Internal Market, Thierry Breton, has started a 2-day mission in Germany to engage with government and industry on current EU priorities, spanning from clean tech to aerospace and automotive.
The selected projects will support technological excellence across a wide range of defence capabilities in critical areas, including cyber defence, ground, air and naval combat, protection of space-based assets or Chemical, Biological, Radiological and Nuclear (CBRN) defence.
In this Discussion Paper, Andrew Duff examines how Russia’s invasion of Ukraine has exposed structural flaws in how the West organises its European defence and how the European Union and NATO have struggled to coordinate, risking duplication and competition.
Following up on Ukraine’s request Switzerland has invited over 160 delegations from around the world to join for the first Summit on Peace in Ukraine on 15-16 June 2024 at the Bürgenstock resort.
The law will cause rifts within Georgia and further harm the country’s international standing and its European future, warn leading MEPs in the joint statement.
The European Union urges Israel to end its military operation in Rafah immediately: “This operation is further disrupting the distribution of humanitarian aid in Gaza and is leading to more internal displacement, exposure to famine and human suffering, EU High Representative Borrell said.
The EU Commission report takes stock of progress and achievements in five key areas: protecting the EU’s physical and digital infrastructure; fighting terrorism and radicalisation; fighting organised crime; strengthening law enforcement and judicial cooperation; and cooperation with international partners.
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.
Brussels, 26 June 2024 Today, member states’ EU ambassadors (Coreper) agreed on the Council’s negotiating
Today, ACER releases its report on the Austrian gas transmission tariffs proposed for 2025 by E-Control, the National Regulatory Authority (NRA) of Austria.
The European Commission has approved, under EU State aid rules, a €265 million Swedish measure made available in part through the Recovery and Resilience Facility (‘RRF’) to support H2GS AB in setting up a large-scale green steel plant.
Thanks to the new hub, cities that have already received the EU Cities Mission Label will be able to access financial advice in cooperation with advisory services of the European Investment Bank (EIB); structure their financial needs so they understand various ways of funding projects, and iIntroduce projects to a range of capital providers.
Germany is supporting the new Global Forest Landscape Restoration (FLR) Implementation Hub of the International Union for Conservation of Nature (IUCN) with 19 million euros in funding. At this year’s Oslo Tropical Forest Forum, the Federal Environment Ministry is working to accelerate the global restoration of degraded forest landscapes and reduce deforestation.
The conclusions represent a widely supported vision for the future of agriculture and set out our ambitions for a competitive sector. They place farmers at the heart of our concerns and underline the strategic role of agriculture in guaranteeing food security in an open economy.
The EU Critical Infrastructure Blueprint shall promote shared situational awareness of the origin and consequences of an incident, to reinforce the coordination of public communications and to strengthen an effective response.
The operation of the Ilva steelworks must be suspended if it poses serious and significant threats to the environment and human health. It is for the Milan District Court to assess whether that is the case.
The EU Agriculture and Fisheries Council exchanged views on sustainable fishing and fishing opportunities for 2025. Furthermore, the Belgian presidency updated the Council on the state of play of some current legislative proposals, e.g. forest monitoring framework, plant reproductive material, forest reproductive material, animal protection during transport.
Today, the EU Modernisation Fund has disbursed €2.967 billion to support 39 energy projects in 10 EU Member States. These investments will support the modernisation of energy systems, reducing greenhouse gas emissions in the energy, industry and transport sectors, and improving energy efficiency.
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