Following dialogues with the Commission and the network of national consumer protection (CPC) authorities, TikTok has committed to align its practices with the EU rules on advertising and consumer protection, namely, the Unfair commercial practices Directive, the Consumer rights Directive and the Unfair contract terms Directive.  This dialogue first originated from a complaint of the European Consumer Organisation (BEUC). In February 2021, BEUC raised the alarm regarding certain problematic practices of TikTok allegedly breaching EU consumer rules. For instance,...

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"Check against delivery" Good morning everybody. It's great to be here in Riga today. We are going through an energy crisis that threatens our climate goals and energy security and independence all in one. The ripple effects of the Russian aggression in Ukraine have kick started a huge change in our geopolitical environment. In recent days and weeks, Russia has again and again demonstrated that it is an unreliable supplier who uses energy as a political weapon – trying to single out...

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The European Commission has today adopted a Communication setting out how it can follow up on the outcome of the Conference on the Future of Europe. After a year of deliberations, the Conference came to an end on 9 May 2022. In the closing ceremony in Strasbourg, the Presidents of the European Parliament, Commission and Council received a final report from the Conference participants containing 49 wide-ranging, ambitious and forward-looking proposals and 326 individual measures. These proposals, covering nine broad themes,...

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Today, the European Commission presented its Opinions on the application for EU membership submitted by Ukraine, Georgia and the Republic of Moldova as invited by the Council. Today's Opinions are based on the Commission's assessment in light of the three sets of criteria to join the EU agreed by the European Council: political criteria, economic criteria and the ability of the country to assume the obligations of EU membership (EU acquis). The Opinions also take into account Ukraine, Moldova...

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Environmentally conscious design can make a major difference in the energy efficiency of digital currencies. Most of the world’s central banks have already agreed they should help fight climate change, a critical challenge that necessitates reductions in both energy consumption, which is our focus here, and the carbon emissions associated with the energy consumed. To meet these aims, it’s important to pay attention to the energy used by the payment systems that central banks regulate and oversee. Monetary authorities now have...

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Keynote speech by Fabio Panetta, Member of the Executive Board of the ECB, at the European Payments Council’s 20th anniversary conference | Frankfurt am Main, 16 June 2022 | Let me warmly congratulate you on the 20-year anniversary of the European Payments Council (EPC). Your organisation has been key to the transformation of Europe’s payment system into one of the most efficient in the world, seizing the opportunities offered by the Single Market and the introduction of the euro. Estimates...

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