The external positions of BIS reporting banks in Central, Eastern and South Eastern Europe (CESEE) have broadly stabilized, and post-crisis deleveraging seems to have been largely completed, while banks’ strategies in the region have become more selective, according to two new reports from the Vienna Initiative. A third such report shows that levels of bad loans in the region declined in the year to mid-2016, but in several countries, they continue to have a negative impact on the local...

Read more

Some 88 million tonnes of food are wasted in the EU every year, equivalent to 173 kilos per person. Not only is this a waste or resources, it also contributes to climate change. Parliament is working on new measures to cut food waste in the EU by 50%. Check out our infographic to find out which sectors and countries waste the most food and read what is being done at EU level and what you can do yourself. (view the...

Read more

The European economy has entered its fifth year of recovery, which is now reaching all EU Member States. This is expected to continue at a largely steady pace this year and next. In its Spring Forecast released today, the European Commission expects euro area GDP growth of 1.7% in 2017 and 1.8% in 2018 (1.6% and 1.8% in the Winter Forecast). GDP growth in the EU as a whole is expected to remain constant at 1.9% in both years...

Read more

Globalisation offers great potential to create wealth and jobs, but it also has the capacity to disrupt. The EU has always tried to make the most of it, while mitigating its negative effects by setting rules and working together with other countries. As the European Commission publishes on 10 May a reflection paper on how the EU should deal with globalisation in the future, we take a look at what Parliament has already done recently. What Parliament has done recently The...

Read more

European tax rules are not currently prepared for the digital economy. They need to be adapted to reality in order to offer the people of Europe a more prosperous future. This was the main message of the European Economic and Social Committee (EESC) debate on Taxation of the Digital Economy held on 5th May. “The digital economy is no longer just a part of the economy, but is becoming the actual economy itself”, stated the keynote speaker, Rita de la...

Read more

The European Commission is today proposing some targeted reforms to improve the functioning of the derivatives market in the EU. The reforms provide simpler and more proportionate rules for over-the-counter derivatives to reduce costs and regulatory burdens for market participants without compromising financial stability. A good example of better regulation in practice, this is essential to the creation of a Capital Markets Union (CMU), a key part of the Investment Plan for Europe, and for investments, growth and jobs...

Read more

Evert van Walsum, Head, Investors and Issuers Department European Securities and Markets Authority: Dear Members of the European Parliament Ladies and Gentlemen I would like to thank your Committee for hosting this scrutiny session on level II measures and reports under the CRA Regulation. I am grateful for this opportunity to share with you some of the experience and insights ESMA has gained through its work on these important and challenging items. In my remarks, I will first provide some context...

Read more

Commission takes new steps to enhance compliance and practical functioning of the EU Single Market Today's package of measures will make it easier for people and companies to manage their paperwork online in their home country or when working, living or doing business in another EU country and it will help ensure that commonly agreed EU rules are respected. Jyrki Katainen, Vice-President for Jobs, Growth, Investment and Competitiveness, said: "EU rules protect and empower 500 million people in the Single Market....

Read more