European Union News - European Union

The Commission presented two additional pieces of legislation aimed at strengthening the surveillance mechanisms and promoting further economic integration and convergence in the euro area. The first piece of proposed legislation will apply to all countries in the euro area, with special provisions made for those which are subject to an excessive deficits procedure (EDP). The second sets out explicit rules for enhanced surveillance.

The European Parliament and the Council, meeting within the Conciliation Committee, reached an agreement on the EU budget for 2012 on 18 November. The final adoption is expected to be taken before the end of the 2011 year.

Staff teams from the European Commission (EC), European Central Bank (ECB), and the International Monetary Fund (IMF) visited Lisbon during November 7-16 for the second quarterly review of Portugal’s economic program. Among the conclusions raised by them, overall the program is off to a good start. However, its success crucially depends on continued implementation of a wide range of structural reforms.

The Representation of the European Commission in Spain has launched a mobile application which can be downloaded from Android phones and iPhone, in order to bring the latest news from the European Commission, the EU events and press calls. In addition the European Commission also presented an iGoogle gadget with the same characteristics.

ECA published a special report in which it highlights the need of clarification on a number of issues concerning the control system for the geographical indications (GI). The report also states that there is no clear strategy for promoting and raising awareness of the scheme amongst both producers and consumers.

European Commission presented its Autumn forecast 2011-13 in which it clearly stated that EU growth is at a standstill. In addition, GDP in the EU is now projected to stagnate until well into 2012. In fact, the figures shows that annual GDP growth in 2012 is forecast at 0.6% in the EU and 0.5% in the euro area. Growth in 2013 is expected to remain lacklustre at 1.5% in the EU and 1.3% in the euro area.

The European Commission President José Manuel Barroso has issued a statement in which he has expressed his concerns with regard to the current situation in Greece. He has appealed for national and political unity in Greece. He also issued a joint statement with President of the European Council Herman Van Rompuy in which they took note of the intention of the Greek authorities to hold a referendum.

The European Parliament adopted its position on 2012 budget. Basically, MEPs sought to restore the draft budget proposed by the Commission, which the Council cut in July. This implies an increase in payments of 5.2% as compared to this year's budget, resulting in a budget of €133.1 billion.

The conclusions of the latest Euro Summit shows an agreement among Eurozone ministers with regard to Greece. The new programme agreed includes a contribution by Euro area Member States to the package up to €30 billion. In particular, the new EU-IMF multiannual programme financing up to €100 billion will be put in place by the end of the year. It also includes a voluntary contribution by private creditors who had lent to Greece.

The Member States agreed to accelerate structural reforms in line with the recommendations made in the context of the European semester. The European Council identified a number of priorities which should be fast-tracked because of their significant impact on jobs and growth in the short to medium term. It also called for a stronger focus to the growth-enhancing aspects of the European Union's external policies in order to maximise their contribution to growth in Europe and to shape the conditions to attract more foreign investment.

Commission's Task Force for Greece organised its first high level coordination meeting on Wednesday 12 October with the Greek authorities, Member States and international organisations offering technical assistance to Greece. Participants stressed the need for the Greek administration to take full ownership and make best possible use of the available technical assistance.

The members of the Committee of the Regions reiterated their support for the proposed EU financial framework 2014-2020 in a plenary debate with Budget Commissioner Janusz Lewandowski. Mercedes Bresso, President of the CoR stated that the EU budget was of crucial importance to help Europe recover from the devastating effects of the economic crisis and should not be reduced under its current level.