Eurogroup President Jeroen Dijsselbloem will strive to strengthen the EU Banking Union, despite recent calls to loosen regulation in response to bank share volatility in global markets, he told the Economic and Monetary Affairs Committee on Thursday. "There should be no doubt of the European Union's determination to apply these rules", he said in his capacity as Eurogroup President and chair of the Economic and Financial Affairs Council (ECOFIN). The EU's Bank Recovery and Resolution Directive, which came into force...

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Investments and free flow of capital are essential for Europe's growth. However, the EU's capital markets are still underdeveloped and fragmented. Therefore, the European Commission adopted an Action plan on "Capital Markets Union" in 2015 aiming to create a true single market for capitals in Europe. The EESC calls for Europe to better mobilise capital and channel it to companies, infrastructures and sustainable projects that will create jobs and growth. At its plenary session, the EESC has adopted an opinion...

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Good morning everybody, and welcome to this very important seminar on the future of our industry. The theme is the future of the competitiveness of our industry and the future of competitiveness of Europe, as that is the cornerstone of the future of job creation and the future of well-being in Europe. Europe has always been and will always been a manufacturing continent. But at the same time, and at this specific moment, there are lots of external and lots...

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The Commission today presented its energy security package with necessary proposals to equip the EU for global energy transition as well as to be prepared for possible energy supply interruptions. Energy security dimension is one of the cornerstones of the Energy Union strategy, a key political priority of the Juncker Commission. Implementing Energy Union: The Commission presents energy security package The Commission today unveiled a package of energy security measures to equip the EU for global energy transition to address possible energy...

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Recalling its conclusions of July 2015 which invited the High Representative and the Commission to report back in early 2016 on the outcome of the COP21 and its implications for climate diplomacy, the Council adopted the following conclusions. The Council welcomes the Paris Climate Agreement as a landmark achievement for combating climate change, and for multilateralism. The Paris Agreement represents an ambitious, balanced, equitable and legally binding agreement. The adoption of the agreement and the cumulative announcement by the end...

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In the case of a deal on a reform of the UK’s EU membership, Parliament will do its utmost to support it, but the result is not guaranteed, warned EP President Martin Schulz. He spoke out after UK Prime Minister David Cameron discussed Parliament’s position with leading MEPs on Tuesday. The visit came ahead of Thursday’s European Council summit when heads of state will try to come to an agreement. Schulz will attend to present Parliament’s position. Although Schulz said...

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Governor Andrew M. Cuomo today announced that Empire State Development has issued a Request for Proposals to revitalize more than 40 acres at Republic Airport in East Farmingdale, Suffolk County. The development of this land will help generate new economic opportunities for Long Island, in terms of both attracting new businesses and creating jobs. "Republic is already a key part of New York’s regional transportation network and, with this action, we are seeking to unlock its potential as a major...

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Key Topics: Third EUR Climate Awareness Bond (CAB) increased to or above EUR 1.5bn EUR 13bn of Green Bonds issued by EIB to date via 59 CABs in 11 currencies Increasing role of Green Bonds in the context of COP21 Increasing role of stock exchanges in promoting transparency and comparability Today, the European Investment Bank (EIB), the development institution owned by the EU Member States, increased the 0.500% Climate Awareness Bond (CAB) 11/2026 to EUR 1.5bn, now the largest Green Bond in this part...

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On February 10, 2016, the Executive Board of the International Monetary Fund (IMF) concluded the 2015 Article IV consultation with Austria. Austria is stable and affluent. It has weathered the global financial crisis well, and output and employment have recovered to pre-crisis levels. The budget deficit has been well contained in recent years. Nevertheless, as in other countries, budget support for bank restructuring and resolution has ratcheted up public debt, which stands now at about 86 percent of GDP. Crisis...

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