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EU budgets a touchy topic - EUbusiness Week newsletter 679


EUbusiness Week 6709 top stories: Ukraine, Russia, EU agree gas supply deal: source; Four in five eurozone banks pass ECB health test; Climate: EU set for 24% emissions cut by 2020; EU slams Hungary Internet tax plan as bad precedent; Boat migrants in EU's hands; Baltic trio to seek EUR 3bn from EU for Rail Baltica

Publisher's Note

The stand-out topic of this last week of the Barroso II Commission has been budgets, both EU and national.

The Commission's initial review of 2015 budgets looks like allowing France and Italy, under pressure for breaking EU spending rules, to scrape through the process, though they may have more still to do in terms of structural reform.

Britain's David Cameron went home with a larger bill for the EU Budget than he apparently expected - some EUR 2.1 bn. However, it is likely that Britain also will be afforded some flexibility, in terms of the amount and the timing of the extra payment.
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Nick Prag
Publisher, EUbusiness


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1. Ukraine, Russia, EU agree gas supply deal: source

Russia agreed to resume gas deliveries to Ukraine through the winter in an EU-brokered deal reached by the three parties in Brussels on Thursday, an EU source said.
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EU condemns any Russian recognition of Ukraine rebel polls

2. Four in five eurozone banks pass ECB health test

A large majority of eurozone banks have been given a clean bill of health by the European Central Bank, fuelling hopes that a major cause of economic uncertainty could soon be eliminated.
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80 countries join fight to end banking secrecy

3. Climate: EU set for 24% emissions cut by 2020

Europe is on track to reduce greenhouse-gas emissions by 24 per cent by 2020 from 1990 levels, four percentage points higher than its goal, the European Environment Agency reported on Tuesday.
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Praise, catcalls greet EU emissions deal at UN talks

4. EU slams Hungary Internet tax plan as bad precedent

The EU on Tuesday denounced Hungary's plan for an Internet tax as a new threat to political freedom in the country and also for broader EU economic growth.
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5. Boat migrants in EU's hands

The Union is to launch a patrol mission in the Mediterranean amid warnings the number of boat migrant deaths could rise with Italy mulling pulling the plug on its own rescue mission.
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6. Baltic trio to seek EUR 3bn from EU for Rail Baltica

The three Baltic states have signed a joint venture for Rail Baltica, a long-mooted European-standard gauge railway that aims to connect the region to the rest of Europe by 2025.
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Russian sanctions: three of Russia's biggest lenders say they are taking the EU to court over sanctions imposed on them as part of measures aimed at forcing Moscow's cooperation in the Ukraine crisis.
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EU vows 'thorough probe' of bribery claims in Kosovo mission
'Naked Rambler' case doesn't stand up in court
Latest news from the European Court of Justice
EU Law Firms
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Inside the EU Institutions

Council Watch

Britain: Britain heads for a showdown with the Commission as Prime Minister David Cameron brushes off an EU payment demand despite warnings he must pay up or face fines.
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Ukraine's pro-West parties negotiate coalition
EU resumes financial aid to Zimbabwe
EU extends Belarus sanctions for a year
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Commission Watch

Budget deficits: the Commission said Tuesday it had found no serious fault with eurozone Member States' 2015 budget plans, clearing France and Italy after they made last-minute changes to meet EU demands.
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The EU budget, who pays what and why?
Ebola czar calls for health worker surge in west Africa
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Parliament Watch

Tunisia: Tunisia's first parliamentary election since the Arab Spring revolution of 2011 was transparent and credible, the head of the EU observer mission said on Tuesday.
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This week, set aside for MEPs to work in constituencies or make delegation visits, a Parliament election observation mission said Ukraine should swiftly form a new government and launch reforms, following the parliamentary elections on Sunday won by pro-European parties.
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EU diary

3-6 Nov: European Parliament Committee Meetings
6 Nov: Sustainable energy in Central Asia: Business opportunities and technology transfer
6 Nov: Finance for Growth - Towards a Capital Markets Union
6 Nov: Eurogroup
7 Mov: Economic and Financial Affairs Council
The Week Ahead
Long-term diary


EU Law Firms
Summaries of EU Legislation
EU Decision-Making
Treaties of the European Union
Key EU Legal Terms

Other news on EUbusiness this week

IMF cautions Greece on early withdrawal from program 30-Oct
Hucul ponies yet to gallop in native Ukraine 30-Oct
British coalition collapses EU referendum bill 29-Oct
EU, NATO hail Ukraine vote as mandate for reform 27-Oct
25 banks that failed the ECB financial health test 26-Oct
Russia seizes banned EU meat disguised as chewing gum 24-Oct

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