Lowered tariffs and harmonised standards – this is where the real savings for businesses and consumers will be achieved in the future free trade agreement between the EU and the US. To help reach the goal of having compatible standards across the both sides of the Atlantic, the European Commission’s Joint Research Centre (JRC) and the US National Institute of Standards and Technology (NIST) today agreed to expand their current scientific co-operation to 10 different areas. The trade and investment...

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European Commissioner for Internal Market and Services Michel Barnier - Speech at the Transatlantic Policy Network -- Washington, 16 July 2013 Some people must have looked at the launch of the TTIP negotiations last week like an aircraft taking off against a strong headwind. I can’t deny that negotiations will be tough. There are discussions about which topics should stay off the table. There will be other sticking points in the coming months. But let’s not lose sight of the broader picture....

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The first round of Transatlantic Trade and Investment Partnership (TTIP) negotiations kicked off last Monday in Washington, DC.  The EU-U.S. transatlantic economy represents the largest economic relationship in the world, accounting for nearly 30 percent of global  merchandise trade, about 40 percent of world trade in services, and nearly half of global GDP. In 2011, European investment in the U.S. accounted for 70 percent of total FDI in the United States, and Europe’s investment ows to the U.S. were...

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SPEECH BY Michel BARNIER, European Commissioner for the Internal Market and Services on Interdependent swaps markets need interactive cross-border rules at Brookings Institution - Restoring Momentum in Transatlantic Cooperation on Financial Reform // Washington DC, 15 July 2013 Ladies and gentlemen, I would like to thank both the Global Financial Markets Association and the Brookings Institution for inviting me to speak bright and early on a Monday morning. The ancient Mesopotamians invented derivatives, or ‘swaps’ as you call them here in the...

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The European Commission, EU Member States and European industry will invest more than €22 billion over the next seven years in innovation for sectors that deliver high quality jobs. Most of the investment will go to five public-private partnerships in innovative medicines, aeronautics, bio-based industries, fuel cells and hydrogen, and electronics. These research partnerships will boost the competitiveness of EU industry in sectors that already provide more than 4 million jobs. They will also find solutions to major challenges for...

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European Commissioner Michel Barnier and United States Commodity Futures Trading Commission (CFTC) Chairman Gary Gensler today announced a Path Forward regarding their joint understandings on a package of measures for how to approach cross-border derivatives. Commissioner Barnier said that “our discussions have been long and sometimes difficult, but they have always been close, continuous and collaborative talks between partners and friends.” Chairman Gensler said, “With these joint understandings, together, we’ve taken another significant step in our mutual journey to bring transparency...

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The European Commission has today proposed a Single Resolution Mechanism (SRM) for the Banking Union. The mechanism would complement the Single Supervisory Mechanism (SSM) (IP/12/953) which, once operational in late 2014, will see the European Central Bank (ECB) directly supervise banks in the euro area and in other Member States which decide to join the Banking Union. The Single Resolution Mechanism would ensure that – not withstanding stronger supervision – if a bank subject to the SSM faced serious...

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