DG Economic and Financial Affairs published Economic Paper n° 552: Structural unemployment vs. NAWRU: implications for the assessment of the cyclical position and the fiscal stance.
The Commission is further delivering on its top priority of creating jobs and boosting growth in Europe, by unveiling a record €13.1 billion investment plan in 276 transport projects, selected under the Connecting Europe Facility (CEF). This investment will unlock additional public and private co-financing for a combined amount of €28.8 billion. Press release.
DG for Financial Stability, Financial Services and Capital Markets Union (FISMA) published its monthly Finance Newsletter. In this Issue: a write-up of the recent Capital Markets Union public hearing, an article on the Financial Services Users Group and an interview with Maria Teresa Fabregas, Head of the Securities Markets’ unit in DG FISMA.
The Council presidency reached an agreement with the European Parliament on a draft directive establishing new improved rules on insurance distribution. The directive will enable increased policyholder protection, enhance the quality of information provided to customers and establish improved conduct of business rules for the distributors of insurance. The text repeals directive 2002/92/EC on insurance mediation, recasting it as a directive on insurance distribution. Press release.
The Latvian presidency reached a provisional deal with the European Parliament on new rules to end mobile phone roaming fees and safeguard open internet access, also known as net neutrality rules. For the Council, the agreement still has to be confirmed by member states. Under the agreement, roaming surcharges in the European Union will be abolished as of 15 June 2017. However, roaming providers will be able to apply a 'fair use policy' to prevent abusive use of roaming. This would include using roaming services for purposes other than periodic travel. Press release and Q&A.
As foreseen in its 2015 Work Programme, the Commission decided to withdraw two legislative proposals on which the co-legislators have not been able to find a timely political agreement, and to replace them with new initiatives in the 2016 Work Programme. It concerns the proposed Maternity Leave Directive. It is unlikely that the proposed Earth Observation Satellite Data Directive. Press release.
Luxembourg took over presidency of the Council of the EU from Latvia. The Luxembourg Presidency work programme is based around a number of themes, including: stimulating investment to boost growth and employment; deepening the EU's social dimension; managing migration, freedom, justice and security; revitalising the single market by focusing on its digital dimension; and promoting sustainable development.
A report published by the European Court of Auditors (ECA) finds that the Commission and Member States did not adequately manage all aspects of the EU Emissions Trading System (EU ETS), which is a main element of the EU climate and energy package. Press release
Commissioner for European Neighbourhood Policy and Enlargement Negotiations, Johannnes Hahn gave a speech in Vienna at the Western Balkans 6 Ministerial meeting on Energy: Connecting Systems, Connecting Markets.
Vice-President of the European Central Bank Vitor Constancio gave a speech in Vilnius: Strengthening macroprudential policy in Europe.
Calendar of the Commissioners' weekly activities.
The European Commission is calling for better application and enforcement of passenger rights legislation in the European Union. As a first remedy, the Commission today adopted interpretative guidelines clarifying the existing rules in the rail sector. Press release.