On 11 November the Council and the European Parliament agreed on the 2014 EU budget and on the financing of € 400.5 million to redress damages from natural disasters in four member states. In the Conciliation Committee, the two institutions agreed on € 135.50 billion for overall payment appropriations and € 142.64 billion for commitment appropriations for the EU budget for 2014. This is a decrease of 6.5% for payments and of 6.2% for commitments compared to the EU budget for 2013. Both institutions...

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The Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility will decrease to 0.25% and 0.75% respectively. The interest rate on the deposit facility will remain at 0.00%. IN THIS CONTEXT: Introductory statement to the press conference by Mario Draghi Key ECB interest rates More information on monetary policy

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Business Incubator Will Build Upon an Ongoing Renaissance and Provide Work Spaces to Freelancers, Start-Ups, Small Businesses and Non-Profit Organizations Part of the City's Growing Network of Incubators to Encourage Entrepreneurship and Create Jobs in Harlem New York City Economic Development Corporation (NYCEDC) today announced the opening of the Harlem Garage, part of the growing network of business incubators throughout New York City. Located on 118th Street, just west of Frederick Douglass Blvd., the Harlem Garage is an approximately 6,000...

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In recent months, there have been encouraging signs that an economic recovery is underway in Europe. After contracting up to the first quarter of 2013, the European economy started to grow again in the second quarter and real GDP is set to continue growing in the remainder of this year. Growth in the second half of 2013 is expected at 0.5 % compared to the same period in 2012 in the EU. On an annual basis, real GDP growth this...

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Benjamin Franklin, who helped negotiate the original trade treaties between America and Europe more than two centuries ago, gave the following advice: “To succeed, jump as quickly at opportunities as you do at conclusions.” Franklin was our first Ambassador, becoming U.S. Minister to France in 1776, long before our nation won its independence from Britain.  He saw an opportunity to build a strong relationship with a powerful ally.  Thanks to his work, the U.S. and France signed treaties in 1778...

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In October the Economic Sentiment Indicator (ESI) increased by 0.9 points in the euro area (to 97.8) and by 1.1 points in the EU (to 101.8). While the upward trend observed since May has been continued, the magnitude and sectoral scope of the improvement in confidence has moderated compared to recent months.   The Directorate General for Economic and Financial Affairs (DG ECFIN) conducts regular harmonised surveys for different sectors of the economies in the European Union (EU) and in the...

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EUROPEAN  COUNCIL  | Brussels, 25 October 2013 Signs of economic recovery are visible but the EU needs to pursue its efforts to increase growth potential, enhance job creation and boost European competitiveness. Today the European Council focused on the digital economy, innovation and services. These areas have a particular potential for growth and jobs which must be rapidly mobilized. The European Council provided concrete guidance so as to take full advantage of the existing potential. The European Council also looked...

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Vice-President Viviane Reding delivered a speech at an event on “Towards a more dynamic Transatlantic area of growth and investment” organized by the Peterson Institute for International Economics, the Johns Hopkins University’s School for Advanced International Studies (SAIS), and the Union’s diplomatic mission in Washington D.C.. Here are some key extracts: 1/ On the recent US-spying revelations: Friends and partners do not spy on each other. For ambitious and complex negotiations to succeed there needs to be trust among the negotiating partners....

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With Croatia’s accession to the European Union, the EU welcomed its 28th Member State. On October 16, the EU reaffirmed its commitment to a “Europe whole and free” with the release of the European Commission’s 2014 enlargement strategy and its annual report on countries that are either candidates or potential candidates to join the European Union. The European Commission, the EU’s executive arm, recommended granting formal EU candidate status to Albania and repeated its call to open accession negotiations with...

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