Category: EU
-
Vice-President Maroš Šefčovič Highlights EU’s Response to Energy Crisis and Calls for Joint Purchasing of Commodities
Vice-President Maroš Šefčovič delivered a speech at the Bloomberg EU Policy Series event, emphasizing the European Union’s efforts to secure Europe’s economic future and foster the green transition amid the ongoing energy challenges faced by EU industry. Addressing the audience, Vice-President Šefčovič highlighted the importance of evidenced-based, strategic, anticipatory analysis in policymaking. He stressed that…
-
New EU Regulation to Enhance Enforcement of GDPR in Cross-Border Cases
The European Commission has put forward a proposal for a new regulation aimed at strengthening the enforcement of the General Data Protection Regulation (GDPR) in cross-border cases. The regulation seeks to streamline cooperation between data protection authorities (DPAs) when dealing with cases that impact individuals in multiple EU Member States. The proposed regulation introduces concrete…
-
EU Commissioner McGuinness Praises 10-Year Marine Research Cooperation at Galway Event
At the event celebrating the 10th anniversary of the Galway Statement on marine research cooperation, EU Commissioner Mairead McGuinness delivered a keynote speech emphasizing the achievements and future challenges of ocean exploration. The Galway Statement, signed in 2013 by the European Union, Canada, and the United States, marked a commitment to invest, explore, and learn…
-
EU President von der Leyen Addresses Press Conference with Spanish Prime Minister Sánchez
During a joint press conference held at the Royal Collections Gallery in Spain, EU President von der Leyen expressed gratitude for the cultural heritage on display and discussed crucial topics on the European legislative agenda for the next six months. Ukraine took center stage in the discussions, as Spain assumed the Council Presidency at a…
-
EU Commits €106 Million to 18 New Projects for Ocean and Waters Restoration
The European Commission has announced its allocation of over €106 million for 18 new projects dedicated to the EU Mission ‘Restore our Ocean and Waters.’ These initiatives will play a vital role in achieving climate neutrality and restoring nature by safeguarding and revitalizing biodiversity in aquatic environments, mitigating pollution, fostering a sustainable blue economy, and…
-
EU Proposes Legal Framework for Digital Euro and Protecting Cash Use
In response to the growing popularity of electronic payments, including contactless payments and mobile transactions, which was further accelerated by the COVID-19 pandemic, the European Union (EU) is proposing a legal framework for a potential digital euro. The EU’s objective is to ensure the continued acceptance and accessibility of cash while embracing the possibilities offered…
-
EU Proposes Revised Payment Services Directive and Financial Data Access Framework
The European Union (EU) has put forth a proposal to review and update the Payment Services Directive 2 (PSD2), along with the introduction of a new Payment Services Regulation. The aim is to address the evolving market landscape and technological advancements in electronic payments since the directive’s inception in 2015. PSD2 serves as the EU’s…
-
Modernising payment services and opening financial services data: new opportunities for consumers and businesses in the EU
The European Commission has unveiled a set of proposals aimed at modernizing payment services and facilitating the sharing of financial services data within the European Union. These new rules aim to enhance consumer protection, promote competition, and empower consumers to access a broader range of better and more affordable financial products and services while ensuring…
-
EU Commission Welcomes Political Agreement on Boosting Cybersecurity in EU Institutions
The European Commission has expressed its satisfaction with the recent political agreement between the European Parliament and the Council of the EU regarding the proposed Regulation on cybersecurity measures for EU institutions, bodies, offices, and agencies. This agreement marks a significant step forward in enhancing cybersecurity across the European Union. The next phase involves final…
-
EU Introduces New Rules for Withholding Tax Procedures to Boost Cross-Border Investment and Combat Tax Abuse
The European Commission has unveiled a set of proposed rules aimed at enhancing the efficiency and security of withholding tax procedures within the European Union (EU). These measures, which form a crucial part of the Communication on Business Taxation for the 21st Century and the Commission’s 2020 Action Plan on the Capital Markets Union, seek…
-
EU State Aid: Commission Approves €1.1 Billion Hungarian Scheme to Support Electricity Storage Facilities, Accelerating Transition to Net-Zero Economy
The European Commission has given its approval to a €1.1 billion Hungarian scheme aimed at supporting electricity storage facilities and fostering the transition to a net-zero economy. This scheme, implemented under the State aid Temporary Crisis and Transition Framework, seeks to accelerate the green transition and reduce fuel dependencies in the context of Russia’s war…
-
EIF and Komerční banka Facilitate €280 Million Financing for Czech and Slovakian SMEs and Mid-caps
Brussels – The European Investment Fund (EIF), part of the European Investment Bank Group, has partnered with Komerční banka to enable the Czech lender to provide up to €280 million in fresh financing to micro, small, and medium-sized enterprises (SMEs) in Czechia and Slovakia. The agreement, made possible with the support of the InvestEU program,…
-
EU-US Joint Statement Following the EU-US Ministerial on Justice and Home Affairs
The Swedish Presidency of the Council of the European Union hosted the EU-US Ministerial Meeting on Justice and Home Affairs in Stockholm on June 21, 2023. The meeting brought together representatives from both sides to strengthen the transatlantic partnership amidst major geopolitical challenges. During the meeting, the European Union and the United States condemned Russia’s…
-
EU and Mexico Strengthen Bilateral Relations and Strategic Partnership
In a historic meeting, President of the European Commission Ursula von der Leyen visited Mexico to meet with President Andrés Manuel López Obrador, marking the first visit of a European Commission head to Mexico in 11 years. The purpose of the meeting was to revitalize the bilateral relationship and strengthen the Strategic Partnership between Mexico…
-
Protecting jobs and workers: Final report confirms SURE was crucial in mitigating impact of pandemic and supporting recovery
A recent report published today has confirmed the significant role played by the SURE instrument in mitigating the impact of the COVID-19 pandemic and supporting the recovery efforts across the European Union. The report highlights the effectiveness of SURE in protecting jobs and incomes during the challenging times brought about by the pandemic. In 2020,…
-
What is the European Political Community?
The European Political Community (EPG) has held its second meeting. German Chancellor Olaf Scholz engaged in discussions with the heads of state and government of 44 European countries. But what exactly is the EPG and what are its goals? Here are the key questions and answers: What is the European Political Community? The European Political…
-
ECB Announces Decisions and Releases Annual Report in May 2023
The Governing Council of the European Central Bank (ECB) has taken several important decisions in addition to setting interest rates. These decisions, aimed at ensuring financial stability and enhancing market infrastructure, were announced in May 2023. On 5th May 2023, the Governing Council adopted the ECB’s Annual Report for 2022. The report, which provides a…
-
Policy Guidance under the European Semester Aims to Ensure EU’s Long-Term Prosperity, Competitiveness, Fairness, and Resilience
The European Commission has released its guidance to Member States under the 2023 European Semester Spring Package, outlining the necessary steps to build a robust and future-proof economy amid a challenging geopolitical environment. The guidance emphasizes the importance of integrated policies across all sectors to promote environmental sustainability, productivity, fairness, and macroeconomic stability. By embedding…
-
European Commission Releases Inaugural European Media Industry Outlook, Emphasizing Digital Transformation and Strategic Asset Management
Cannes, May 18, 2023 – The European Commission has unveiled its first-ever European Media Industry Outlook, providing a comprehensive analysis of trends within the audiovisual, video game, and news media sectors. Commissioner for Internal Market Thierry Breton presented the report during the European Film Forum, held at the Festival de Cannes. The Media Industry Outlook…
-
EU Unveils Ambitious Data-Driven Customs Reform for Simpler, Smarter, and Safer Trade
The European Commission has unveiled its proposals for the most ambitious and comprehensive reform of the EU Customs Union since its establishment in 1968. This reform aims to revolutionize EU customs operations with a data-driven approach, simplifying procedures, enhancing efficiency, and ensuring the safety and security of goods entering the EU. The reform recognizes the…