The EU-wide passport for SMEs managers of venture capital funds adopted by the Council

The Council adopted two regulations concerning European venture capital funds and European social entrepreneurship funds. The regulations introduce uniform requirements for the managers of collective investment undertakings that want to operate under the EU-wide passport. The Council stressed that SMEs backed by venture capital can create high-quality jobs, as venture capital supports the creation of innovative businesses.

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Two new Communications from the Commission on the next steps towards a deep and genuine Economic and Monetary Union

The European Commission presented two new Communications on the Economic and Monetary Union (EMU). The Communication on the ex-ante coordination of plans for major economic policy reforms contains options on how to organise EU-level discussions on large-scale economic policy reforms in the Member States before final decisions are taken at national level. On the other hand, the Communication on a Convergence and Competitiveness Instrument (CCI) sets out options for two instruments: contractual arrangements for member states to undertake specific reforms and financial support to help member states implement these reforms.

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MEPs and the Irish Presidency of the EU reached a deal on banking supervision legislation

The European Parliament's negotiators and the Irish Presidency of the EU Council reached a deal on banking supervision legislation. According to MEPs, the deal will strengthen EU-level oversight of many EU banks.

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Commission proposes tailored roadmaps to help member states to get on track with waste management

Environment Commissioner Janez Potočnik is participating in a high level seminar in Brussels to help member states that are lagging behind in sustainable waste management practices. The aim is to help optimise their waste policies through tailored Roadmaps with practical recommendations, focusing on the effective implementation of EU waste legislation.

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Budgetary Control Committee approved the 2011 spending for which the Commission was responsible

MEPs at the Budgetary Control Committee in the European Parliament approved the European Commission's management of EU spending under the 2011 budget. MEPs also underlined that spending by member states' administrations under the "shared management" regime - accounting for 80% of the EU budget - had not improved.

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President of the Eurogroup reaffirmed the importance of fully guaranteeing deposits below €100.000 in Cyprus

Following a teleconference held by the Eurogroup on the evening of the 18 March with regard to the economic situation in Cyprus, Jeroen Dijsselbloem, President of the Eurogroup, stressed that the Eurogroup continues to be of the view that small depositors should be treated differently from large depositors and reaffirms the importance of fully guaranteeing deposits below €100.000.

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€200 million from EU funds for leveraging investments from EU development banks

The European Commission announced the allocation of €200 million to the Neighbourhood Investment Facility with the objective of leveraging investments from EU development banks. The planned investments will target energy and transport projects establishing infrastructure interconnections between the EU and neighbouring countries.

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