European Union News - Internal Market

The Council adopted the regulation on guidelines for trans-European energy infrastructure following an agreement reached with the European Parliament. The regulation gives priority to twelve strategic trans-European energy corridors and areas. The European Commission welcomed Council adoption of the Energy Infrastructure Regulation because it foresees a new more transparent and accelerated permit granting procedure which generally will not exceed 3 years and 6 months.

Jeroen Dijsselbloem, President of the Eurogroup, reaffirmed the Eurogroup's readiness to stand ready to discuss with the Cypriot authorities a draft new proposal, which it expects the Cyprus authorities to present as rapidly as possible. In a meeting with MEPs, Mr Dijsselbloem also told them he doubted that there really was a possible 'Plan B'.

The Council adopted two regulations concerning European venture capital funds and European social entrepreneurship funds. The regulations introduce uniform requirements for the managers of collective investment undertakings that want to operate under the EU-wide passport. The Council stressed that SMEs backed by venture capital can create high-quality jobs, as venture capital supports the creation of innovative businesses.

The European Parliament's negotiators and the Irish Presidency of the EU Council reached a deal on banking supervision legislation. According to MEPs, the deal will strengthen EU-level oversight of many EU banks.

With the aim at helping SMEs that produce or trade chemicals to remain competitive during the current difficult market situation, the European Commission lowered the fees and charges that small and medium sized enterprises (SMEs) have to pay to register chemicals.

EU Agriculture Ministers reached an agreement on a general approach on the four main proposals for regulations within the framework of reform of the common agricultural policy (CAP). This agreement will enable negotiations to be launched between the Parliament and the Council with a view to political agreement in June this year.

The Special Committee against Organised Crime in the European Parliament suggested to the EU that it should establish a public prosecutor to protect its financial interests and introduce an EU-wide definition of Mafia-style crime. MEPs' proposal also suggests that all member states should simplify their rules on confiscating criminals' assets.

The European Commission has launched a public consultation that seeks opinions on how to improve access to justice for consumers and small businesses in small-scale cross-border disputes. With this consultation, the Commission intends to improve confidence in cross-border shopping, helping consumers and businesses make full use of Europe’s Single Market.

Following a teleconference held by the Eurogroup on the evening of the 18 March with regard to the economic situation in Cyprus, Jeroen Dijsselbloem, President of the Eurogroup, stressed that the Eurogroup continues to be of the view that small depositors should be treated differently from large depositors and reaffirms the importance of fully guaranteeing deposits below €100.000.

Commission's Vice Presidents Olli Rehn and Antonio Tajani have made a joint statement in which remains the Late Payments Directive, that must have been transposed and applied as of 16 March 2013, does not necessarily apply to the outstanding stock of commercial debt. In particular, in the case of Italy, the authorities have decided that the new rules will apply only to contracts signed since 1 January 2013.