's creditworthiness is sinking at the worst possible time - right as the country attempts to negotiate its way out of the European Union, said Handelsblatt Global Edition. ...read [...] 29-01-2017 Britain could strike a 'Ukraine Plus' style Brexit deal Business Insider: Since Brits voted to leave the European Union last June, all manner of different Brexit models have been mentioned, but a whole new type of deal has now been suggested by think-tank, the Centre for European Policy .
Parliament and the Council should not seek to resolve political conflicts by way of Level 2 measures. In cep's view, consultations with the ESAs at an early stage, in Parliament and the Council, could promote a uniform understanding of the mandate. In addition, political scrutiny at national level - by Parliament or the responsible ministry -, of whether EU guidelines should in fact be complied with, is perfectly legitimate. This scrutiny should provide national supervisors with the necessary room for manoeuvre but at the same time prevent guidelines from offending against the national
Removing regulatory barriers to cross-border research activities through the establishment of a “European Research Area” increases Europe’s potential for innovation. The instrumentalisation of public procurement for the promotion of innovation leads to massive distortion of competition and encourages a subtle form of protectionism. The innovation plans through “European Innovation Partnerships“ that it propagates instead, could be misused for industrial policy purposes and also lead to distortion of competition.
The strategy „Europe 2020“ constitutes the beginning of a European economic governance with sharp interventionist traits in terms of industrial policy interests. For four out of five key targets however – namely employment policy, R&D, educational policy and the fight against poverty – concerted action at EU level is not at all justified, as it does not generate any added value compared to national solutions and even might restrict institutional competition. Furthermore, many of the proposals made under the headline initiatives could lead to inefficient outcomes.
If EFSF assistance is provided without being linked to fundamental reform requirements, or if these are not complied with, the current crisis will be further perpetuated through the EFSF. Countries receiving EFSF assistance should not be entitled to decide on the payment of further tranches to other countries. Additional subsequent payments made by individual euro states to the EFSF could lead to uncontrollable burdens on public budgets in the affected states. EFSF loans to recapitalise banks increase the pressure for reforms. The purchase of state bonds has no impact on the basic data of a state; in fact
Assessing the burdens inflicted upon SME could help prevent a disproportionate amount of burdens. Improving law enforcement, also by means of infringement proceedings, reduces legal uncertainty. In view of inefficient administrative structures in several Member States and tight public budgets it is questionable whether new EU rules on market surveillance and exchange of information between the Member States’ authorities would improve product safety substantially. Promoting “sustainable consumption behaviour“ is an indication that the Commission has given up on the concept of the responsible
In a new research paper, the organisation suggests that the UK could follow a so-called "Ukraine Plus" model and establish a relationship with the EU similar to that of the Eastern European state. ...read on
European Union (probably on 18 October 2016). The Court however requires the Federal Government to ensure, - that a Council Decision on provisional application will only include areas of CETA which indisputably fall within the competence of the European Union, - that, until a decision has been passed by the Federal Constitutional Court in the main action, there must be sufficient democratic accountability [...] requirements are complied with, there is no risk of any serious detriment, either to the rights of the applicants or to the German Bundestag's participation rights, such as would justify an interim injunction as
bondholders of Italian banks were excluded from bail-in, this would amount to an expansion of the existing scope of protection of the deposit guarantee system. The Italian government would probably justify such an exclusion with the argument of misselling. Banks should never have sold their subordinated bonds to retail customers because they were too risky. Interestingly, the European directive on investor-compensation schemes (Directive 97/9/EC) does not provide for compensation for misselling. Since 2010, several attempts of the European commission to expand the scope of protection of the directive failed due to the
According to the European Commission both countries missed the deadline to correct their deficits. Spain was not able to meet the target of 4.2% of GDP set by the Commission – instead Spain`s deficit reached 5.1%. Portugal was required to cut its budget deficit to 2.5%, but reached a deficit of 4.4%. On Tuesday (July 12) European finance ministers will decide whether to back the move to fine Spain and Portugal. Should the recommendation by the Commission be approved, the two euro area countries could be hit with fines as well as a partial suspension of funding commitments.