European Union News

The draft Regulation lays down the rules for auctioning emission allowances valid for the third trading period of the EU ETS starting in 2013 as well as allowances to be used by aircraft operators already as from 2012. The Commission will now submit the draft Regulation to the European Parliament and the Council for a three-month scrutiny period.

According to the data released by Eurostat on July 14th 2010, Euro are annual inflation rate felt down to 1.4%, whereas for the whole of the European Union the rate fell to 1.9%. Ireland and Latvia remained showing negative inflation rates with -2.00% and -1.6% respectively.

The European Commission has cleared under the EU Merger Regulation the proposed acquisition of NBC Universal, the US global media and entertainment company, by Comcast Corporation. After examining the operation, the Commission concluded that the transaction would not significantly impede effective competition in the European Economic Area (EEA) or any substantial part of it.

Council of Economic and Financial Affairs Ministers, ECOFIN, held in Brussels on July 13th 2010 have gone through the measures to control excessive deficits taken by Member states in the past months. Over the meeting Ministers have also set out its position with a view to continuing negotiations with the Parliament about financial supervision package. The Council also adopted measure to simplify VAT invoicing and agreed on Estonia accession to the Euro.

According to a recent study financed by the European Commission, biodiversity can provide a substantial business opportunity in a market that could be worth between 2 and 6 trillion USD by 2050. The report highlights the considerable recent growth in eco-certified products and services and growing consumer concerns for sustainable production, established seven recommendations for companies and calls for the elaboration of common standards to assess biodiversity impacts.

The European Economic & Financial Affairs Council of Ministers, ECOFIN, meeting in Brussels on July 13th has decided to give green light to Estonia's accession to the Euro-zone. Estonian Kroonid will therefore be the 17th currency to be part of the Euro by January 1st 2011.

Mrs Sabine Laruelle, Minister for SMEs, the Self-employed, Agriculture and Science Policy of Belgium, presented to EU Minister meeting in Brussels on Julty 12t at the 3026th Council on Agriculture and Fisheries, Belgian presidency work programme for the next six months. Ministers also exchanged views on the report of the high level group on milk as well as on a Commission report and a proposal for a Regulation on aid granted in the framework of the German alcohol monopoly.

This is the first time in the EU's history that member States have used the “enhanced cooperation” mechanism, which allows a group of at least nine nations to implement measures if all 27 Member States fail to reach agreement. The enhanced cooperation will apply in the 14 participating EU countries for now, in order to adopt this new rules which, once approved, will allow couples to avoid emotionally and financially costly proceedings.

According to a special report published on July 12th by the European Court of Auditors and published in the OJEU on July 13th , the Design Studies (DS) scheme mainly met its objectives whereas the Construction of New Infrastructures (CNI) scheme was judged to have provided low added value.

As established by the Lisbon Treaty, the European Union succeeds the European Community. It  is therefore required that the EU concludes now the Statute of the International Renewable Energy Agency (IRENA). To that effect, the OJEU of July 13th publishes the Council Decision by which the president of the Council is authorised to designate the person empowered to deposit the instrument of ratification.

As part of its work creating a safer and sounder financial system, preventing a future crisis and restoring consumer confidence, the European Commission has today proposed changes to existing European rules to further improve protection for bank account holders and retail investors. Furthermore, the Commission has launched a public consultation on options to improve protection for insurance policy holders, including the possibility of setting up Insurance Guarantee Schemes in all Member States.

Belgium and the European Commission will host the 12th Annual EU-NGO Forum on Human Rights in Brussels. It will be centred on the topic, “EU Human Rights instruments and the Lisbon Treaty: State of play and way forward”.