EU Public & Regulatory Affairs

Weekly EU news: Monday 6 July - Friday 10 July 2015


Monday 6 July

Commissioner for Environment, Maritime Affairs and Fisheries Karmenu Vella gave a speech in New York: Building an environmental, economic, socially just future: The EU perspective on Sustainable Development Goals.

 

Tuesday 7 July

The European Central Bank published:

  • Report: Financial Risk Management of Eurosystem Monetary Policy Operations
  • Working Paper No. 1822: Gender bias and credit access.
  • Working Paper No. 1823: Financial constraints and productivity: evidence from euro area companies.
  • Report: The international role of the euro.
  • Working Paper No. 1824: Shoe-leather costs in the euro area and the foreign demand for euro banknotes.
  • Working Paper No. 1825: Uncertainty shocks, banking frictions and economic activity

 

Wednesday 8 July

The European Parliament (EP) adopted:

  • its report on the EC proposal on long-term shareholder engagement and the corporate governance statement. The EP adopted an amendment that large firms and listed companies should have to disclose information, country by country, on profits made, tax paid on profits and public subsidies received. The vote on the whole resolution was postponed, this be able to start trilogue discussions with the Council and the Commission in order to reach an agreement. Press release.
  • its recommendations to European Commission Transatlantic Trade and Investment Partnership (TTIP) negotiators. The compromise wording on investor-state dispute resolution tools  calls for a new justice system to replace ”investorstate dispute settlement” (ISDS) provisions, which rely upon private arbitration and are common in trade deals. Press release.

 

Thursday 9 July

The European Commission has sent a Statement of Objections to MasterCard. It outlines the Commission's preliminary view that MasterCard's rules prevent banks from offering lower interchange fees to retailers based in another Member State of the European Economic Area, where interchange fees may be higher. As a result, retailers cannot benefit from lower fees elsewhere and competition between banks cross-border may be restricted, in breach of European antitrust rules. Press release.

Climate Action & Energy Commissioner Miguel Arias Cañete gave a speech at the ACER Annual Conference: A new market design for a new energy system.

The EP adopted a non-binding resolution on the EU Capital Markets Union (CMU). The CMU should provide a new, more efficient way to channel savings into small business ventures and protect cross-border investors in the EU, says the resolution. MEPs want CMU building blocks, such as a wider range of investment choices, risk mitigation tools and clear information on investment opportunities across the EU to be in place by 2018, so as to complement bank financing. Press release.

 

Friday 10 July 

Statistics

  • In 2014, total general government expenditure amounted to €6 701 bn in the EU.  This represented almost half (48.1%) of EU GDP in 2014, compared with 48.6% in 2013. Details.
  • House prices, as measured by the House Price Index (HPI), rose by 0.9% in the euro area and by 2.5% in the EU3in the first quarter of 2015 compared with the same quarter of the previous year. Details.
  • On 1 January 2015, the population of the EU was estimated at 508.2 million, compared with 506.9 million on 1 January 2014. Details

Calendar of the Commissioners' weekly activities.

Central Eastern and South Eastern European countries join forces to create an integrated gas market. 15 EU and Energy Community countries in the Central Eastern Europe and South East European regions have agreed to work together to accelerate the building of missing gas infrastructure links and to tackle the remaining technical and regulatory issues which hamper security of supply and the development of a fully integrated and competitive energy market in the region. Press release