No bail-out for EU banks - EUbusiness Week no 414

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EUbusiness Week - Issue 414
26 September 2008
http://www.eubusiness.com
Your way through the EU information maze
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This Week's Top Stories
=======================
1. EP committee resists watering down car emission targets
2. Parliament does water down Brussels' telecoms reforms
3. Eurozone business activity at near seven-year low
4. Court advisor rejects case against UK retirement law
5. EU plans crackdown on high-risk Chinese food products
6. WTO to rule on US dispute with EU on hi-tech products

Publisher's Note
================
A US-style bailout for the banking sectors' bad debts is
highly unlikely in Europe, with the EU's Presidency,
Commission and Parliament maintaining the situation over
here is less acute.

Instead, a tightening of Europe's current model of
regulation and supervision is on the cards. The Commission
will next month publish proposals on capital requirements
for banks and for oversight of credit rating agencies. In
a debate on Tuesday, Euro-MPs called for more ambitious
proposals to improve regulation of the financial sector,
targeting hedge funds and private equity firms in
particular.
http://www.eubusiness.com/news-eu/1222273023.78

Regards,

Nick Prag
Publisher, EUbusiness

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1. EP committee resists watering down car emission targets
----------------------------------------------------------
The European Parliament's environment committee resisted
pressure on Thursday from Europe's powerful car-making
industry to water down plans to force car makers to
slash carbon dioxide emissions.
http://www.eubusiness.com/news-eu/1222346820.85
EU to introduce daytime safety lights for cars in 2011
http://www.eubusiness.com/news-eu/1222267622.82

2. Parliament does water down Brussels' telecoms reforms
--------------------------------------------------------
The European Parliament has backed a range of telecom
measures aimed at giving consumers better rights and
boosting competition among operators, but some
components were watered down.
http://www.eubusiness.com/news-eu/1222268530.64
EU launches new drive against mobile phone prices
http://www.eubusiness.com/news-eu/1222174022.64

3. Eurozone business activity at near seven-year low
----------------------------------------------------
Business activity in the eurozone slumped in September to
the lowest level since just after the attacks on the
United States in 2001, according to a survey, fuelling
fresh recession fears.
http://www.eubusiness.com/news-eu/1222163221.66

4. Court advisor rejects case against UK retirement law
-------------------------------------------------------
The European Court of Justice's top advisor has rejected a
rights group's claim that British retirement law, under
which the over-65s can be forced to stop working,
breaks EU law.
http://www.eubusiness.com/news-eu/1222163229.68

5. EU plans crackdown on high-risk Chinese food products
--------------------------------------------------------
The Commission has decided on safeguard measures in the
face of the tainted Chinese milk scare, including plans to
ban the most risky imports like biscuits and chocolate.
http://www.eubusiness.com/news-eu/1222340522.86

6. WTO to rule on US dispute with EU on hi-tech products
--------------------------------------------------------
The World Trade Organisation has agreed to rule on a
challenge brought by the United States, Japan and Taiwan
against the EU over duties on high-technology products.
http://www.eubusiness.com/news-eu/1222164122.68

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Inside the EU Institutions
==========================

Council Watch
-------------
Agriculture: ministers were as divided as ever over EU
farming subsidies on Tuesday, with France and Britain
championing opposing views on future spending.
http://www.eubusiness.com/news-eu/1222186623.81
Sarkozy calls for summit on 'regulated capitalism'
http://www.eubusiness.com/news-eu/1222182157.67
http://www.eubusiness.com/European_Council

Commission Watch
----------------
Environment: Europe must not water down its plans to tackle
global warming despite the current financial crisis,
Environment Commissioner Dimas said on Wednesday.
http://www.eubusiness.com/news-eu/1222262229.07
Barroso urges next US president to work closely with EU
http://www.eubusiness.com/news-eu/1222282921.73
Farm subsidies should be cut: Commissioner
http://www.eubusiness.com/news-eu/1222176722.9
Balkans losing corruption fight, says watchdog
http://www.eubusiness.com/news-eu/1222158721.87
http://www.eubusiness.com/Commission

Euro-Parliament Watch
---------------------
India: Parliament on Wednesday called for the EU to negotiate
a free trade deal with India by the end of the year, though
several voiced concerns over human rights abuses, in
particular against Christians.
http://www.eubusiness.com/news-eu/1222276623.02
Euro-MPs demand tougher financial sector regulation
http://www.eubusiness.com/news-eu/1222174922.18
Socialists plan joint campaign for 2009 EP elections
http://www.eubusiness.com/news-eu/1222169522.15
Chinese dissident among Sakharov prize finalists
http://www.eubusiness.com/news-eu/1222158754.68
Euro-MPs to return to Strasbourg next month
http://www.eubusiness.com/news-eu/1222115522.24

Also at their Brussels plenary, MEPs backed an update of
the rules regarding the VAT treatment of financial services
and insurance, with amendments; called for a European
licence for online music sales; adopted a resolution on
getting a grip on energy prices; urged the safeguard of
media pluralism and ensuring that all EU citizens can
access free and diversified media; and urged an earlier
start in people's lives for measures to prevent obesity.
http://www.eubusiness.com/Europarl

EU diary
--------
25-26 Sep, Competitiveness Council
29 Sep, Agriculture and Fisheries Council
2-3 Oct, Employment, Social, Health, Consumer Affairs
10 Oct, Transport, Telecoms and Energy Council
27 Oct, Agriculture and Fisheries Council
4 Nov, Ecofin Council

The Week Ahead: http://www.eubusiness.com/events/EUcalendar
Long-term diary: http://www.eubusiness.com/events/eu-diary

EUbusiness Community
====================

EUpress
-------
BEUC: Telecoms - A Good Call from MEPs
http://www.eubusiness.com/Consumer/beuc-press.08-09-24

Transparency International: Corruption Perceptions Index
http://www.eubusiness.com/Institutions/ti-press.2008-09-24

Reach Europe's decision-makers! Publish your organisation's
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EUguides
--------
EU ban on mercury exports
http://www.eubusiness.com/Environ/mercury-exports-guide

Scope of the Universal Service in Telecoms: 2008 EC report
http://www.eubusiness.com/Internet/telecoms-universal.08

EU - China trade in facts and figures
http://www.eubusiness.com/China/eu-china-trade.08
More guides: http://www.eubusiness.com/guides

EUevents
--------
9 Oct, London: 2nd Annual Collateral Management
http://www.eubusiness.com/jacobfleming

22 Oct, Stockholm: eChallenges e-2008 conference
http://www.eubusiness.com/Rd/echallenges.08
More events: http://www.eubusiness.com/events

EUjobs
------
Policy Officer, Wildlife, Eurogroup for Animals
http://www.eubusiness.com/Jobs/animals-job.08-09-19

Principal Banker, EBRD
http://www.eubusiness.com/Jobs/ebrd-job.08-09-16
More jobs: http://www.eubusiness.com/jobs

EUlinks
-------
Simplifying the business environment for companies
http://www.eubusiness.com/SMEs/red-tape.03

Broadband Internet - Universal Service
http://www.eubusiness.com/Telecoms/universal-broadband
More links: http://www.eubusiness.com/links

Other news on EUbusiness this week
----------------------------------
EU to ban export of mercury on health grounds 25-Sep
http://www.eubusiness.com/news-eu/1222363922.3
Inuits blast EU plans to ban seal skin sales 24-Sep
http://www.eubusiness.com/news-eu/1222229824.16
EU conditions on UK ad giant WPP's bid for TNS 23-Sep
http://www.eubusiness.com/news-eu/1222189320.88
Croatia moves against corruption to boost EU hopes 23-Sep
http://www.eubusiness.com/news-eu/1222167731.07
Eurozone factory orders bounce back in July 23-Sep
http://www.eubusiness.com/news-eu/1222161552.02
Europe will respect aid pledge to Africa, Sarkozy 22-Sep
http://www.eubusiness.com/news-eu/1222093923.2
Economic crisis threatens EU climate change measures 21-Sep
http://www.eubusiness.com/news-eu/1222005723.17

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