The CoR proposes to allocate €3.5 billion to provide non-financial assistance to the most deprived in Europe

The Committee of the Regions (CoR) has proposed that the European Commission increases by €1 billion more the level of investment for a new Fund dedicated to supporting citizens most in need. Additionally, the CoR rejected the Commission's proposals to allow member states to voluntarily participate in co-financing schemes that use the Fund, arguing that this could take away local and regional authorities' access to vitally needed investment.

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The deal on financing and governance of the European satellite navigation systems was approved by Coreper

The Permanent Representatives Committee of the Council endorsed the compromise reached between the Council and the European Parliament in their negotiations on a new financial and governance framework for the European satellite navigation systems (EGNOS and Galileo) for the period covered by the multi-annual financial framework for 2014-2020.

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MEPs approved to cap banker's bonuses to curb speculative risk-taking

The European Parliament adopted in plenary session a banking reform package that should spur growth, by making it easier for banks to lend to small firms that drive the real economy. This reform includes measures such as capping banker's bonuses to curb speculative risk-taking, stepping up capital provisions to help banks cope better with crises, and stiffen supervision.

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Barroso proposes to explore with the budgetary authority the possibility of frontloading future MFF assistance for Cyprus

The President of the European Commission, José Manuel Barroso, suggested to explore with the budgetary authority the possibility of frontloading future MFF assistance for Cyprus, in his letter to reply the letter he received from President of Cyprus, Nicos Anastasiades, regarding EU funding for Cyprus. In his letter, Mr Anastasiades suggested that Cyprus might be given increased allocations under both cohesion and rural development policy. However, Mr Barroso replied that no unallocated margin was left in these headings under the European Council approach.

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The CoR made it clear that independence movements on the part of a region must be seen as internal matters

The Committee of the Regions (CoR) made it clear that demands for autonomy and independence movements on the part of a region must be seen as internal matters for the member state concerned. In addition, according to the CoR, in the hypothetical situation where such a region would become independent and wants to remain in the EU, it would have to apply to become a member of the EU like any state.

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Eurogroup welcomed the staff-level agreement reached between Cyprus and the Troika

The Eurogroup published a statement that welcomed the staff-level agreement that has been reached between Cyprus and the Troika institutions on the policy conditionality underlying the macroeconomic adjustment programme. Besides, the European Commission, ECB and IMF concluded the review mission to Greece which includes a staff-level agreement with the authorities on the economic and financial policies needed to ensure the program remains on track to achieve its objectives.

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The CoR calls to ensure adequate planning of regional and local investment for the coming years

President of the Committee of Regions (CoR), Ramon Luis Valcárcel, called for an agreement on the EU budget (Multiannual Financial Framework) to be reached before the summer, in order to ensure adequate planning of regional and local investment for the coming years. He also expressed serious concerns about the positions expressed by some MEPs who suggested that cohesion policy was rooted in the past.

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Commission warns about excessive macroeconomic imbalances in Spain and Slovenia

The European Commission has presented its conclusions on the in-depth reviews conducted in thirteen Member States economies. These findings indicate that both Spain and Slovenia show excessive macroeconomic imbalances which can represent a serious risk for growth and financial stability.

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Commission proposed to the Council the conclusion of the Protocol amending WTO Agreement on Government Procurement (GPA)

The formal conclusion of the Protocol amending the Agreement on Government Procurement (GPA), the only legally binding agreement in the WTO on the subject of government procurement, was proposed by the Commission to the Council. The European Parliament will also be called upon to give its consent to the conclusion of the Protocol.

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Mayors of EU capital cities welcomed Commission's initiative to open a direct dialogue with the capital cities

In a declaration endorsed by mayors of EU capital cities, they welcomed the initiative of the European Commission to open a direct dialogue with the capital cities and to give EU cities a higher profile as direct partners for the EU. Mayors agreed that capital cities are the laboratories where solutions to the EU's social and economic problems must be found.

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