European Union News

On the Green Paper published now, the Commission wonders on how existing and proposed EU measures already address shadow banking activities. In this context, it questions on five key areas relating to banking which are asset management, securities lending and repurchase agreements, securitisation, and other shadow banking entities.

Courts, associations and legal professionals, prosecutor's offices, non-governmental organisations, or any other entity responsible for justice affairs in the Member States of the Council of Europe or the European Union can now apply to the 2012 edition of the European "Crystal Scales of Justice" prize for innovative practices contributing to the efficiency and quality of civil justice.

Fisheries Ministers adopted a general approach in which they states its position on the controversial of "shark finning". According to this general approach, the Council is in line of the Commission's proposal to suppress the derogation that would mean sharks can only be landed with their fins attached. The Council now awaits the position of the European Parliament, before it will formalise its position.

The euro area balance of payments in January 2012 recorded a surplus of €4.5 billion. In the financial account, combined direct and portfolio investment recorded net outflows of €53 billion (non-seasonally adjusted). In addition, the ECB also published that the amount outstanding of shares/units issued by euro area investment funds other than money market funds was €220 billion higher in January 2012 than in December 2011.

The European Parliament approved in plenary session three resolutions with regard to the human rights. First they call on the Egyptian authorities to put an end to human smuggling an trafficking in Sinai; also, its condemn to the human rights violations in Bahrain and its concern over the raids on Palestinian TV stations. On the other hand, the High Representative, Catherine Ashton condemned the execution of Uladzislaw Kavalyow in Belarus.

The Foreign Affairs (Trade) Council meeting ended on 16 of March with the agreement of promoting a multilateral agenda for trade and development besides providing improved market access for developing countries, working towards sustainable development through a green economy, and developing more focused, targeted and coordinated Aid for Trade.

The Court of Justice rules that a dentist who broadcasts phonograms free of charge in his dental practice, for the benefit of his clients and enjoyed by them without any active choice on their part, is not making a ‘communication to the public’ for the purposes of EU law.In addition to this, such a broadcast is not of a profit-making nature, it does not, therefore, give rise to a right to remuneration for phonogram producers.

Researchers financed with EU funds have discovered a protein responsible for protecting some of our body's immune cells from the HIV. This result can be used to understand why some anti-HIV drugs are more effective than others. Additionally, the European Medicines Agency, has published guidance on prevention of HIV transmission for public consultation.

The resolution approved by the European Parliament with regard to the a Dutch Freedom Party (PVV) website calls on the Dutch government to condemn this website. According to the text, the website goes against the fundamental European values of human dignity. In addition, MEPs ask to stop the spread of xenophobic attitudes like those expressed on this website.

The non-binding resolution now adopted by the European Parliament calls for an in increase of the CO2 emissions reduction for 2050 to make the EU economy more competitive and dramatically less dependent on fossil fuels. This resolution sets a policy framework for the European Union to achieve an 80-95% reduction in its CO2 emissions by 2050.

The European Parliament says it wants Iceland to join the EU in a resolution adopted in plenary session. Also, it has approved two more resolutions, one for each country, that call for a date for the former Yugoslav Republic of Macedonia to start accession talks, and show MEPs concerns at the limited progress of Bosnia and Herzegovina as a potential candidate.

On the occasion of the 6th World Water Forum, the Joint Research Centre published a report which shows variations in yearly freshwater generation from 10 mm to over 500 mm for Europe and from less than 0.1 mm to over 500 mm for Africa. In addition to these results, the European Environment Agency highlighted in a report that Europe needs to redouble efforts in using water more efficiently to avoid undermining its economy, as well as a resolution adopted by the European Parliament.