Brussels, 22 May 2012 I welcome the agreement today in the "trilogue" with the Parliament and Council on our proposal for the pilot phase of Project Bonds, which paves the way for the vote on 31 May. This is an important initiative that can contribute to strengthen our economy. Promoting public and private investment is indeed a cornerstone of our growth initiative. The Project Bond Initiative by the EU and the EIB will support the financing of commercially viable infrastructure projects...

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I have just met with the interim Prime Minister of Greece, Mr Panagiotis Pikrammenos. His government has a clearly defined yet vital role to play in the coming weeks. I reiterated the Commission's strong desire that Greece should remain a member of the euro area and that we will continue to do everything in our power for this to happen. The euro area has shown unprecedented solidarity to Greece and its people. It has made a commitment to maintain financial support...

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Plenary Session Taxation − 23-05-2012 - 12:38   The proposed financial transaction tax should be better designed to capture more traders and make evasion unprofitable, said the European Parliament in its opinion adopted on Wednesday. The opinion also says the tax should go ahead even if only some Member States opt for it. The tax rates proposed by the Commission (0.1% for shares and bonds and 0.01% for derivatives) are considered suitable and pension funds should be the only sector...

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"The economic crisis has a global nature, its impact has been global and the remedies must also have a global dimension," said European Commission President José Manuel Barroso in New York today. In his address to the UN General Assembly, he pointed out that "there is a tendency to view the ongoing crisis in the eurozone as distinct from the financial crisis that struck the United States in 2007. But in fact, their causes are the same." President Barroso highlighted Europe's...

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The European Union is set to make its banking sector more resilient to financial shocks following EU's Finance Ministers unanimously approving stricter capital requirements for banks and investment firms."The rules we are proposing are crucial: once adopted, they will profoundly alter the behavior and solidity of financial actors," said Internal Market and Services Commissioner Michel Barnier. "Our overall objective remains to strengthen the resilience of the banking sector in the EU while ensuring that banks continue to finance economic...

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The European Commission today projected economic growth in 2013 at 1.3 percent in the European Union and 1.0 percent in the 17 euro area countries. The euro area economy will shrink by 0.3 percent this year with a recovery forecast to set in slowly from the second half of 2012.  "A recovery is in sight, but the economic situation remains fragile, with still large disparities across Member States," said Olli Rehn, European Commission Vice-President for Economic and Monetary Affairs and...

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On May 11, the European American Chamber of Commerce hosted a high profile, high energy gathering of senior level transatlantic business officials assembled at the New York Stock Exchange to welcome visiting European Union Vice President and Commissioner for Industry and Entrepreneurship, Antonio Tajani. Vice President Tajani was accompanied by a delegation of prominent European industry federations from the chemical, pharmaceutical, luxury goods, energy, construction and venture capital sectors, with the objective of internationalizing businesses in the EU and the U.S. and to start a...

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On 21 May, the European Commission will present the 2012 edition of its Taxation trends report. This report takes stock of the tax systems in the Member States, including extensive and comparable data on their tax structures and rates. The report will include for the first time key data on property taxes in all 27 Member States. The background: The Taxation trends report compiles tax indicators that allow comparison of the tax systems and tax policies between EU Member States. It...

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The G8 summit will take place from 18 to 19 May in Camp David (U.S.). The European Union will be represented by the President of the European Commission, José Manuel Barroso, and the President of the European Council, Herman Van Rompuy. The G8 summit continues to play an important role in shaping global responses to global challenges. This year, G8 Leaders will address the following main topics: regional and political developments and security issues the global economy energy and climate issues food security There will...

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