U.S. Secretary of Commerce Penny Pritzker issued the following statement on today’s launch of the self-certification process for U.S. organizations participating in the EU-U.S. Privacy Shield Framework (Privacy Shield).  “After more than two years of discussions, it is time to implement the new EU-U.S. Privacy Shield Framework with our partners in Europe and companies on both continents. With the Privacy Shield in place, businesses will be able to protect privacy and truly seize the opportunities offered by the transatlantic digital...

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Today, President Juncker announced his intention to allocate the Security Union portfolio to Sir Julian King, the candidate for Commissioner from the United Kingdom On 11 July, President Juncker interviewed Sir Julian King as the candidate for Commissioner from the United Kingdom to replace former Commissioner Lord Hill. On this basis, President Juncker has today announced his intention to allocate the Security Union portfolio to Sir Julian King. The Commissioner for the Security Union will support the implementation of the European...

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External imbalances widened again in 2015 after narrowing in the aftermath of the global financial crisis. Countries should take measures that reduce excess imbalances without compromising global demand, according to a new IMF analysis. The 2016 External Sector Report (ESR), the fifth annual exercise of its type, analyzes recent developments and provides updated staff assessments of countries’ external positions, including current account balances, real exchange rates, external balance sheets, capital flows, and international reserves. The ESR, which covers 29 of the...

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Europeans see immigration and terrorism as the major challenges facing the EU at the moment, and they support the political priorities of the European Commission. Europeans see immigration and terrorism as the major challenges facing the EU at the moment, and they support the political priorities of the European Commission. These are two key results of the latest Standard Eurobarometer survey published today. The survey was carried out between 21 and 31 May 2016 in 34 countries and territories. Immigration and...

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The European Investment Bank (EIB) is lending EUR 15 million to Agricover Credit IFN in order to finance smaller projects implemented by SMEs in the agricultural sector. This is the first EIB transaction in Romania benefitting from the support of the EU budget guarantee under the European Fund for Strategic Investments (EFSI), the financing component of the Investment Plan for Europe (IPE). EIB Vice-President Cristian Popa stated: “This is the first operation for Romania approved under the EFSI component of...

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The European Investment Bank (EIB) has signed an agreement with Sustainable Sàrl, a subsidiary of SUSU Partners AG, committing up to €62 million into the SUSI Renewable Energy Fund II. The agreement is guaranteed under the European Fund for Strategic Investments (EFSI), the heart of the Investment Plan for Europe. The signing underlines Europe’s strategy to invest in environmental sustainability and a sustainable, competitive, and secure energy supply. The portfolio of SUSI’s second renewable energy fund currently comprises already 13...

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The European Commission released today a report on the remuneration rules for credit institutions and investment firms. It finds that the remuneration rules are generally effective in curbing excessive risk-taking behaviour and short-termism. These were precisely the reasons why the rules were introduced in the aftermath of the financial crisis. However, drawing in particular on work done by the European Banking Authority, two public consultations and an external study, the report concludes that, in certain cases, some of the rules may...

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The European Investment Bank (EIB) has signed a subscription agreement with Sustainable Sàrl, a subsidiary of SUSI Partners AG (SUSI), putting into effect the EIB’s investment commitment of up to 62 million euro in the SUSI Renewable Energy Fund II (SUSI RE II). The Investment is guaranteed under the European Fund for Strategic Investments. The signing underlines Europe’s strategy to invest in environmental sustainability and a sustainable, competitive, and secure energy supply. The portfolio of SUSI’s second renewable energy fund...

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