The Council adopted new accounting rules for the land use, land use change and forestry sector

A decision on accounting rules and information on actions concerning greenhouse gas emissions and removals resulting from activities related to land use, land use change and forestry, was adopted by the Agriculture and Fisheries Council. In addition, the Council adopted a regulation on a mechanism for monitoring and reporting greenhouse gas emissions.

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Commission recommends to EU member states to open negotiations with Serbia on EU accession

The European Commission and the EU High Representative for Foreign Affairs and Security Policy published a report that recommends to EU member states that negotiations be opened with Serbia on EU accession, and with Kosovo on a Stabilisation and Association Agreement with the EU. This recommendations is based, among other things, on the historic agreement reached by Serbia and Kosovo in the EU-facilitated dialogue.

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The government debt rose in the EU and the euro area in 2012, while the government deficit of both zones decreased

Eurostat published its figures regarding provision of deficit and debt data for 2012. These figures show that the government deficit of both the euro area and the EU decreased in absolute terms compared with 2011, while the government debt rose in both zones. The data published also show that seventeen member states had deficits higher than 3% of GDP. Spain (-10.6%), Greece (-10.0%), Ireland (-7.6%), Portugal (-6.4%), Cyprus and the United Kingdom (both -6.3%) had the highest deficit in 2012.

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A report shows that innovation and small business are receiving a huge boost from cohesion policy investments

The European Commission published a report in which shows an overview of how EU Structural Funds are working in member states. According to this report, these funds have already led to progress and improvement for many citizens, such as that 1.9 million more people now have broadband access; or 2.6 million more people are served by water supply, 5.7 million more by waste water projects.

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The deal on the establishment of a single supervisory mechanism (SSM), approved by the Coreper

The Permanent Representatives Committee of the Council approved a compromise agreed with the European Parliament on the establishment of a single supervisory mechanism (SSM) for the oversight of credit institutions. Once formally approved by both institutions, the Council and the Parliament, the European Central Bank will assume its supervisory tasks within the SSM either on 1 March 2014 or 12 months after entry into force of the legislation.

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