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Finance and Monetary Affairs in the EU
Latest news on economic and monetary affairs in the European Union.
- European international investment policy - guide — 08 July 2010, 23:21 CET
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The European Commission today took the first step towards a comprehensive European international investment policy with two initiatives. A policy paper lays out how the new EU competence on foreign direct investment can be used to boost competitiveness and trade resulting in growth and jobs. At the same time a draft regulation sets up transitional arrangements offering guarantees on existing or pending bilateral investment treaties concluded between EU and Non-EU countries. Under the Lisbon Treaty, investment policy will be developed and managed at the European level giving the EU a strengthened negotiating hand to deliver better investment protection for all European businesses.
- Financial Transparency System — 04 July 2010, 23:22 CET
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EU grant recipients and contractors - find out who the European Commission has awarded grants to, and who has won Commission contracts through public procurement procedures.
- EU to increase investor protection in EU investment fund market — 03 July 2010, 00:48 CET
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The European Commission has today completed a programme of improvements to the EU framework for investment funds. The new rules better empower investors by requiring a new standardised fund document, while also setting out in detail the high standards of conduct of business that investment fund managers must comply with.
- EU reviews options for revised Market Abuse Directive — 01 July 2010, 23:26 CET
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The European Commission have launched a public consultation on the review of the Market Abuse Directive. Its objective is to consult financial market participants, governments, competent authorities and other stakeholders on the modifications to the Market Abuse Directive that the Commission is considering for its forthcoming legislative proposal.
- EU consults on implementation of Services Directive — 30 June 2010, 17:22 CET
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The European Commission is inviting interested parties to share their views on those aspects of national legislation which are being discussed by EU Member States in the "mutual evaluation process", forseen by the Services Directive, transposed in December 2009.
- EU approves restructuring of Austrian bank BAWAG — 30 June 2010, 17:08 CET
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The European Commission has authorised under EU State aid rules a €550 million capital injection provided by Austria in favour of the BAWAG bank and approved a new restructuring plan of the bank.
- EU clears extension of bank support measures in 4 Member States — 30 June 2010, 17:07 CET
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The European Commission has extended its authorisation under EU state aid rules until 31 December 2010 of the Dutch and Slovenian bank guarantee schemes and the Greek and Polish bank support measures.
- EU approves bank support schemes in 4 Member States — 29 June 2010, 23:46 CET
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The European Commission has extended, under EU state aid rules, until 31 December 2010, guarantee schemes for banks in Ireland, Spain and Denmark and a liquidity scheme in Hungary. The extended schemes feature higher premiums to be paid by the banks for the guarantees and liquidity granted by the State.
- EU okays bail-out of Spain's Caja Castilla-La Mancha — 29 June 2010, 23:46 CET
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The European Commission has authorised, under EU state aid rules, Spanish aid for the restructuring of Caja Castilla-La Mancha because it adequately addresses the problems that led to the bail-out of the bank in 2009 whilst avoiding undue distortions of competition.
- Euro-MPs call for food price transparency — 28 June 2010, 22:13 CET
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New legislation is needed to ensure fair returns to farmers and transparent prices to consumers, by enforcing fair competition throughout the food supply chain, said the European Parliament's Agriculture Committee on Monday.
- New EU measures to ease access to structural funds — 25 June 2010, 19:09 CET
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The EU adopted yesterday new measures aimed at simplifying management rules for the structural and cohesion funds to help regions tackle the crisis. The changes should help to facilitate access to the funds and accelerate flows of investment at a time when public budgets are under pressure.
- Quarterly Report on the Euro Area: challenges ahead for Euro area exporters — 24 June 2010, 15:04 CET
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Euro-area exports, their pre-crisis performance and the challenges lying ahead, is the theme of the focus section of the second issue of the Quarterly Report on the Euro Area in 2010. During the decade preceding the crisis, euro-area exporters benefited from robust growth in neighbouring emerging markets and a strong specialisation in some key export sectors that acted as powerful export drivers. Their relatively strong competitive position augurs well for their capacity to exploit the opportunities offered by the ongoing recovery in world trade. This will, however, require tackling a number of important challenges revealed by the crisis. By creating incentives for innovation and improving the business environment policy-makers can help companies face these challenges. In addition to trade, the report also sheds new light on the causes of the recent recession in the euro area and the impact of the crisis on cyclical convergence between euro-area Member States.
- Euro-MPs call for more EU powers in the financial sector — 22 June 2010, 23:24 CET
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The European Parliament's Economic Affairs Committee passed today two resolutions, calling for legislation on remuneration in the financial service sector and on the management of cross-border banking crises.
- Fiscal and Tax Environment in Iceland — 22 June 2010, 19:52 CET
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Information about the fiscal and tax environment for international organisations, investing in Iceland.
- Commission approves RBS Sempra sale to JP Morgan — 17 June 2010, 17:02 CET
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The European Commission has cleared under the EU Merger Regulation the proposed acquisition of RBS Sempra Commodities LLP, the commodities trading arm of UK-based Royal Bank of Scotland, by JP Morgan Chase & Co.
- EU to tighten derivatives trading regulation — 15 June 2010, 23:54 CET
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Proposed EU rules on derivatives trading must be made clearer and tougher, so as to reduce speculative trading and ensure that as many derivatives as possible are traded through open channels that are subject to rules, the European Parliament said in a resolution adopted on Tuesday.
- Consultation on Derivatives and Market Infrastructures - guide — 15 June 2010, 23:52 CET
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Frequently asked questions on a public consultation on Derivatives and Market Infrastructures launched by the European Commission on 15 June.
- EU urges Member States to give a boost to small businesses — 11 June 2010, 23:13 CET
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The EU published today its annual SME report, estimating the loss of jobs in the SME sector over 2009 and 2010 to 3.25 million. The report stresses that EU Member States should take action to boost the small and medium enterprises sector in order to generate new employment opportunities.
- EU okays Latvian state aid for exporting firms — 10 June 2010, 23:33 CET
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The European Commission has authorised, under EU State aid rules, a measure adopted by Latvia to limit the adverse impact of the current financial crisis on exporting firms.
- European System of national and regional accounts in the Community — 10 June 2010, 10:13 CET
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The purpose of this Regulation is to make available comparable, up-to-date and reliable information on the structure and developments in the economic situation of the Member States of the EU and their regions.
- Hungary Mining Act violates EU state aid rules: EC — 09 June 2010, 17:13 CET
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The European Commission has concluded that a 2005 agreement between the Hungarian government and the Oil and Gas Company MOL conferred a financial advantage on the company that cannot be exempted under EU State aid rules.
- EU to strengthen cross-border cooperation on VAT fraud — 08 June 2010, 20:15 CET
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EU Finance Ministers today reached an agreement on a draft regulation which will enable EU member states to combine efforts in combating fraud with regard to value-added taxation (VAT).
- EU report shows ineffectiveness of simplified customs procedures — 07 June 2010, 23:22 CET
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The European Court of Auditors has assessed whether the regulatory framework and control approach developed by the European Commission and put in place in the Member States effectively control simplified customs procedures for imports. According to a Special Report published by the Court today, simplified procedures are not yet effectively controlled in the majority of the audited Member States.
- EU approves capital injection into Irish Educational Building Society — 02 June 2010, 23:11 CET
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The European Commission has authorised under EU state aid rules an emergency recapitalisation worth €875 million in favour of the Irish Educational Building Society (EBS) for a period of six months as urgent rescue aid.
- European Commission Green Paper on corporate governance in financial institutions and report on remunerations - briefing — 02 June 2010, 20:13 CET
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As part of its work on preventing a future financial crisis and strengthening the financial system, the European Commission has put forward amendments to the EU rules on Credit Rating Agencies and launched a public consultation on reforming corporate governance in financial institutions. On corporate governance, the Commission has launched a public consultation on a number of issues including how to manage risk more effectively in financial institutions and how to empower shareholders. The deadline for responses is 1 September 2010.