Today, the EU and Canada signed the Comprehensive Economic and Trade Agreement (CETA) and a new Strategic Partnership Agreement that deepens cooperation in vital areas such as human rights, international peace and security, economic and sustainable development, justice, freedom and security. European Commission President, Jean-Claude Juncker, speaking at his joint press conference with the Canadian Prime Minister, Justin Trudeau, and European Council President, Donald Tusk, said, “Today, the people of Canada and the European Union have opened a new chapter...

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The 16th Summit between the European Union and Canada held today in Brussels marks a historic juncture in our political and economic partnership, in the 40th year of formal cooperation. Jean-Claude Juncker, President of the European Commission, Donald Tusk, President of the European Council, Robert Fico, Prime Minister of Slovakia, and Justin Trudeau, Prime Minister of Canada, signed two landmark agreements: the Comprehensive Economic and Trade Agreement (CETA) and the Strategic Partnership Agreement (SPA). "Today, the people of Canada and the...

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Consolidation in the banking sector continued in 2015 Median CET 1 ratio increased to 14.6% from 14% in 2014 and profitability of the euro area banking sector improved In 2015 the median NPL ratio of banks, although still elevated, declined for the first time since 2008 The banking system increased its reliance on deposit funding and became less dependent on wholesale and central bank funding Insurance companies and pension funds are starting to adjust structurally to the low-yield environment The non-bank financial sector (including...

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Since the EU started its microfinance initiatives, more than 100 agreements have been signed with microfinance providers, to support over 100,000 micro-entrepreneurs in 23 EU member states. This cooperation between the European Investment Fund (EIF), the European Commission, and microfinance providers aims to mobilise over EUR 1 billion of microfinance loans for micro-borrowers across the EU under Progress Microfinance and the EU Programme for Employment and Social Innovation (EaSI). Target borrowers include unemployed micro-entrepreneurs, young self-employed, minority groups, women and...

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Today, the European Commission published the 2016 edition of the "EU Transport Scoreboard", a benchmark which compares how Member States perform in 30 categories covering all aspects of transport. The objective of the Scoreboard is to help Member States identify areas requiring priority investment and action.  It shows how the EU further deepens the internal market in transport and promotes the shift towards low-emission mobility, two priorities of the Juncker Commission. EU Commissioner for Transport Violeta Bulc said "My objective is to have a high...

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Nicolas Verón argues that EU banking union can only be complete if the vast amount of domestic sovereign debt held by many banks is reduced The eurozone’s banking union has moved from vision to reality in a short period of time, with the European Central Bank now an established supervisory authority for the area’s large banks. This has already made a big difference to the many national banking champions that local supervisors had been treating with kid gloves. But the banking...

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Parliament backs the EU Commission case for investing in innovation, growth and job creation, pursuing socially-balanced structural reforms, and encouraging responsible public finances, in a resolution on EU economic priorities for 2017, voted on Wednesday. The text was approved by 423 votes to 210, with 48 abstentions. MEPs decide on the EU’s economic priorities for 2017 against a backdrop of large current account surpluses, low domestic investment, a lower than expected growth forecast, economic uncertainty deriving inter alia from the UK’s...

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EU space programmes already deliver services that benefit millions of people. The European space industry is strong and competitive, creating jobs and business opportunities for entrepreneurs. Today's proposal for a new space policy will foster new services and promote Europe's leadership in space. Vice-President Maroš Šefčovič said: "The European Union is a key player in space policy. We want to build on that and use this leadership role strategically to create jobs and growth and deliver on our common policy...

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On 17 October Eurogroup President Jeroen Dijsselbloem published an op-ed article in a Dutch newspaper entitled "Why I disagree with Joseph Stiglitz". The article discusses the new book by Nobel Prize-winner Joseph Stiglitz "The Euro: How a Common Currency Threatens the Future of Europe". Dijsselbloem also joined Stiglitz on stage for a debate and Q&A session with the audience about this book on 30 September, at the John Adams Institute in Amsterdam. ________________________ Why I disagree with Joseph Stiglitz Professor and Nobel...

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The UK's decision to leave the Union will already affect the EU's budget for next year. "There has already been an unforeseeable situation and now we have to deal with this problem," said Jens Geier, the MEP who will negotiate on behalf of the Parliament regarding the bulk of the EU's budget for 2017. MEPs will vote on Parliament's position in plenary on 26 October. We talked to the German S&D member about how Brexit is affecting the budget...

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