Cybersecurity: EU-U.S. Cooperation Large-scale attacks against information systems and various other forms of cybercrime, such as online identity theft or online child abuse, are subject to rapidly evolving technological developments. The EU’s responses to such crimes are equally innovative and flexible, ranging from support for cross-border cyber-investigations and police training to legislative measures. The EU established a dedicated European Cybercrime Center within Europol that began operations in January 2013. Because cybercrime knows no borders and is increasingly a global threat, the EU...

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The European Union’s founding fathers reacted to the bloodshed and destruction of World War II by concocting a scheme designed to inextricably link Europe’s coal and steel industries and prevent wars from ravaging the European continent in the future. On May 9, 1950, French Foreign Minister Robert Schuman announced a plan—in a speech inspired by French businessman-turned-advisor Jean Monnet—that proposed pooling European coal and steel production under a common authority. While contributing to postwar economic recovery, this plan would also control...

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The Directorate-General for Economic and Financial Affairs (DG ECFIN) of the European Commission is pleased to inform you about its newest publications for your free download as PDF: The future of EMU Economic growth perspectives for Europe These two Economic Briefs provide an overview of the broad range of economic research papers on the two topics written by leading scholars under the auspices of DG ECFIN's Fellowship Initiative 2012 - 13. The two papers outline the issues addressed in the...

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ESMA published its Final Report Draft Regulatory Technical Standards on Types of AIFM. The final report sets out in its Annex IV the draft regulatory technical standards (RTS) required by Article 4(4) AIFMD. The draft RTS in Annex IV will now be submitted to the Commission for endorsement or rejection within 3 months of receipt. It will also be forwarded to the European Parliament and Council. If adopted, the RTS will take the form of a Commission Regulation. It will enter...

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The European Parliament's Committee on Economic and Monetary Affairs (ECON) published its draft report on the proposal for a Council directive implementing enhanced cooperation in the area of the Financial Transaction Tax (FTT). The committee suggests: closing a loophole of the issuance principle as far as OTC derivatives are concerned; reintroducing the ownership principle, according to which a financial transaction in relation to which no FTT has been levied is not legally enforceable and does not result in a transfer of legal...

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Speaking at a conference organized by the U.S. Embassy in Dublin, Ireland, European Union Trade Commissioner Karel De Gucht pointed out that the Transatlantic Trade and Investment Partnership is a cost-effective stimulus package, providing a growth boost to the transatlantic economy as well as ensuring that neither the U.S. nor the EU would slide back into protectionism as it would make clear that both "are willing to put their beliefs into practice by opening their markets even further." Commissioner De Gucht...

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Remarks at EuroPlace Conference at NYSE:   Paris EUROPLACE International Financial Forum in New York -- 22 April 2013 Ladies and Gentlemen, I am delighted to have the opportunity to address such a distinguished and international audience, in the wake of the G20 and IMF meetings in Washington. During the G20 discussions, the overwhelming concern was how to boost growth and job creation. We discussed the short-term effects of fiscal policy in this respect, the continued need for structural reform, as well as the...

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European Commission President José Manuel Barroso and European Council President Herman Van Rompuy met with U.S. Secretary of State John Kerry in Brussels. Describing the EU-U.S. relationship as "rock solid," President Barroso said their discussion centered on Syria, climate change, improving the economy and the "very promising Transatlantic Trade and Investment Agreement, and how we can make this move forward." President Barroso noted, "I believe we can get a mandate from our Member States before summer, that we can keep...

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Speaking at the UN General Assembly High Level Debate on Global Economic Governance today, European Commission President José Manuel Barroso said that tax evasion costs the European Union 1 trillion euros every year and "the global bill is much higher. That is money that should be available to spend on education, skills, healthcare, and infrastructure investment in both developed and developing countries."  President Barroso stressed that the EU is taking common action on exchange of information, on tax havens and...

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Trade talks between the European Union and the U.S. won’t undermine essential protections for health and the environment, European Commission President Jose Barroso said an event today here in New York that was co-organised by the EACCNY and Bloomberg LP. The negotiations, which Barroso said will start before this summer, will target “unnecessary costs” created by differing regulations, as well as conventional trade barriers such as tariffs and quotas. “We, on both sides, will not compromise on our high levels...

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