European Union News - 2012

The mid-term review of Trans-European Transport Network (TEN-T) investment into the European Economic Recovery Plan (EERP) concluded that the EU funding has been vital for attracting further investment from the private sector and public authorities with regard to the infrastructure projects.

The European Commission Vice President Olli Rehn welcomed the announcement by the Spanish government on the significant package of budgetary policy measures approved. However he regretted the sizable fiscal slippage relative to the 2011 budgetary target. He therefore asked to Spain remaining committed to the fiscal consolidation path and staying determined to correct its excessive deficit by 2013.

The NEUROSTEMCELL ('European consortium for stem cell therapy for neurodegenerative disease') project, which investigates in maximising prospects for successful clinical trials of stem cell therapy for neurodegenerative diseases, has made many progress so far and at the same time it is considering the regulatory, ethical and societal issues linked to the use of stem cells for therapy.

The European Environment Agency (EEA) published a report in which states the benefits of recycling for the economy, among which providing raw materials, creating jobs and encouraging business opportunities and innovation. The Agency also states that revenues from recycling are substantial and growing fast.

Guimarães (Portugal) and Maribor (Slovenia) are the European Capitals of Culture 2012 as from 1 January. However the official programme of events begins on 13 January in Maribor and 21 January in Guimarães. Both cities have a busy calendar of events planned for the year.

The European Union re-established the exceptional autonomous trade preferences to all Western Balkan countries until the end of 2015. According to the Commission, these trade preferences support economic integration with the EU and hence foster political stability and economic progress in the entire region.