Chapter News

23 Feb
Chapter News, News

Unlocking Funding for Europe’s Growth – European Commission consults on Capital Markets Union

Brussels, 18 February 2015 -- The European Commission today launched its landmark project to unlock funding for Europe’s businesses and to boost growth in the EU’s 28 Member States with the creation of a true single market for capital. The Capital Markets Union aims to break down the barriers that are blocking cross-border investments in the EU and preventing businesses from getting access to finance. The current environment is tough for businesses that remain heavily reliant on banks and relatively...

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20 Feb
Chapter News, News

Eurogroup statement on Greece

The Eurogroup reiterates its appreciation for the remarkable adjustment efforts undertaken by Greece and the Greek people over the last years. During the last few weeks, we have, together with the institutions, engaged in an intensive and constructive dialogue with the new Greek authorities and reached common ground today.  The Eurogroup notes, in the framework of the existing arrangement, the request from the Greek authorities for an extension of the Master Financial Assistance Facility Agreement (MFFA), which is underpinned by...

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20 Feb
Chapter News, News

Investment Plan: Green Light for SME Financing before the Summer

Following a decision by the Board of Governors of the European Investment Bank (EIB) today, small and medium-sized companies (SMEs) across Europe should be able to benefit from the first funds from the new European Fund for Strategic Investments (EFSI) before the summer. The landmark decision taken today by the EIB Board of Governors will allow for the pre-financing of SME projects linked to the Investment Plan for Europe before the summer. European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment...

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17 Feb
Chapter News, News

Europe’s Finance Ministers endorse EIB Group engagement in Juncker plan as EU Bank announces early delivery on lending targets

Europe’s Finance Ministers today welcomed the proposal for the European Investment Bank Group to manage the European Fund for Strategic Investments (EFSI) within the EIB under the Investment Plan for Europe announced last November. The fund, backed by the EU Bank and the European Commission, is intended to support EUR 315 billion of new investment across Europe over the next three years. The extraordinary meeting of the EIB’s Board of Governors recognised the significant role of Europe’s long-term lending institution...

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12 Feb
Chapter News

EU Parliament sets up a special committee on tax rulings

Parliament as a whole voted on Thursday to set up a special parliamentary committee to look into EU member states’ "tax rulings and other measures similar in nature or effect" and make recommendations for the future. The committee will have 45 members and is established for an initial period of six months. Result of the vote: 612 in favour, 19 against and 23 abstentions. The composition of the committee was approved by a show of hands. Mandate The committee will look into...

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12 Feb
Chapter News, News

Parliament sets up a special committee on tax rulings

Parliament as a whole voted on Thursday to set up a special parliamentary committee to look into EU member states’ "tax rulings and other measures similar in nature or effect" and make recommendations for the future. The committee will have 45 members and is established for an initial period of six months. Result of the vote: 612 in favour, 19 against and 23 abstentions. The composition of the committee was approved by a show of hands. Mandate The committee will look into...

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10 Feb
Chapter News, News

TTIP Simplified

EU and U.S. negotiators have been hard at work discussing the complexities of the Transatlantic Trade and Investment Partnership (TTIP) since July 2013. As talks focus increasingly on technical topics, it is important for the public to be able to understand—in plain language—what the give-and-take is all about. The framework of the agreement is divided into three main areas:  market access; regulatory cooperation; and rules. Within each of these categories, numerous subcategories cover specific components of TTIP. For example, market...

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09 Feb
Chapter News, News

EUROSTAT – Energy Consumption in the EU down to its early 1990s level; EU Energy Dependence at 53%

In 2013, gross inland energy consumption1, which reflects the energy necessary to satisfy inland consumption, amounted in the European Union (EU) to 1 666 million tonnes of oil equivalent2 (Mtoe), back to its early 1990s level and down by 9.1% compared to its peak of 1 832 Mtoe in 2006. In 2013, nuclear energy (29%) accounted for the largest share of EU domestic production of energy, ahead of renewables (24%), solid fuels (20%), gas (17%), oil (9%) and non-renewable wastes...

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05 Feb
Chapter News, News

The Whitehouse: Trade Deals Would Open New Channels for Small Business Growth

During his State of the Union address, President Obama noted that “21st-century businesses, including small businesses, need to sell more American products overseas. … 95 percent of the world’s customers live outside our borders, and we can’t close ourselves off from those opportunities.” Today, 98 percent of American companies that export are small businesses, but more than half of our exporters are only selling to one foreign market, usually Canada or Mexico. It’s time to take action to help more...

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03 Feb
Chapter News

Pension funds should benefit from a further two year exemption from central clearing requirements

Brussels, 03 February 2015 -- The European Commission has today published a report that recommends granting pension funds a two-year exemption from central clearing requirements for their over-the-counter (OTC) derivative transactions. The report, which is based on an extensive study requested by the European Commission, concludes that central counterparties (CCPs) need this time to find solutions for pension funds. At the same time, the report encourages CCPs to continue working on finding technical solutions in this important matter. Ultimately, the...

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