The European Economic and Social Committee (EESC) has adopted the opinion Decent minimum wages across Europe following the European Parliament's request for an exploratory opinion. The request was made after the Commission announced that it was considering proposing a legal instrument to ensure that every EU worker is entitled to a minimum wage allowing a decent standard of living. Figures show that about one in ten workers in the EU earn around or below the national statutory minimum wage. In some countries,...

Read more

The European Union Intellectual Property Office (EUIPO) and EBAN, the Europe leading early-stage investors network, have signed a collaboration agreement to promote and encourage activities and services that support small and medium enterprises (SMEs). Both organisations play an essential and complementary role in their shared vision to empower EU SMEs within the EU and beyond. Business angels are a significant driver of the innovation process in the EU start-up ecosystem and IP rights have long been recognised in the success...

Read more

In line with the European Green Deal and the EU's objective to become the first climate neutral economy by 2050, the Commission adopted today revised EU Emission Trading System State aid Guidelines in the context of the system for greenhouse gas emission allowance trading post-2021 (the “ETS Guidelines”). They will enter into force on 1 January 2021 with the start of the new ETS trading period, and replace the previous Guidelines adopted in 2012. Executive Vice-President Margrethe Vestager, in charge of competition policy, said: “To sustainably...

Read more

ECB’s Governing Council confirms exceptional circumstances Opinion instrumental in ECB Banking Supervision’s decision to allow banks to exclude central bank exposures from leverage ratio See also ECB Banking Supervision announcement on leverage ratio The Governing Council of the European Central Bank (ECB) has decided that it concurs with ECB Banking supervision that there are ‘exceptional circumstances’ allowing the temporary exclusion of certain central bank exposures from the leverage ratio. The Governing Council said in an opinion: “The situation brought about...

Read more

The European Commission has set out strategic guidance for the implementation of the Recovery and Resilience Facility in its 2021 Annual Sustainable Growth Strategy (ASGS). The Facility is the key recovery instrument at the heart of NextGenerationEU which will help the EU emerge stronger and more resilient from the current crisis. The Facility will provide an unprecedented €672.5 billion of loans and grants in frontloaded financial support for the crucial first years of the recovery. The publication of the ASGS...

Read more

The European Commission presented today its plan to reduce EU greenhouse gas emissions by at least 55% by 2030, compared to 1990 levels. This level of ambition for the next decade will put the EU on a balanced pathway to reaching climate neutrality by 2050. The new target is based on a comprehensive Impact Assessment of the social, economic and environmental impacts. The Assessment demonstrates that this course of action is realistic and feasible. This raised ambition also underlines the EU's continued global...

Read more