While industrial performance has stabilised, industry’s share in Europe’s GDP has declined from 15.5% of GDP one year ago to 15.1% in summer 2013. The two industrial Competitiveness reports published today by the European Commission highlight that Member States have made progress in improving the business environment, exports and sustainability. However, many problems still remain. The convergence between industrially most competitive countries and the moderate performers is at a standstill. Moreover, the cost of energy is increasing in almost all...

Read more

Speech by Joaquín Almunia, Vice President of the European Commission responsible for Competition Policy at Georgetown University Law Center, 7th Annual Global Antitrust Enforcement Symposium Washington DC, 25 September 2013 Ladies and Gentlemen, It is always a pleasure to attend your conference and I thank Larry Center for his invitation. But this year I have an additional reason to address this audience here in the States – and a very good one. What I have in mind are the negotiations on the Transatlantic Trade...

Read more

In his address to the United Nations General Assembly today, European Council President Herman Van Rompuy urged the international community to seize the diplomatic opening created in order to control and destroy Syria's chemical weapons. "Any further paralysis of the international community over Syria is simply untenable," he said, calling for a clear resolution by the Security Council. He also stressed that the "European Union is ready to provide all support needed to achieve a political settlement," and that...

Read more

H.E. Enrico Letta, President of the Council of Ministers of the Italian Republic, at the NYSE Earlier today his Excellency Enrico Letta, President of the Council of Ministers of the Italian Republic visited the New York Stock Exchange (NYSE) and rang The Opening Bell. During his visit, Prime Minister Letta met with NYSE Euronext executives and delivered remarks about the status of reforms Italy is implementing to address the country's economic difficulties. The event was organized by the NYSE and the...

Read more

A groundbreaking new report from the Atlantic Council, the Bertelsmann Foundation, and the British Embassy in Washington, entitled TTIP and the Fifty States: Jobs and Growth from Coast to Coast, explores the impact of the Transatlantic Trade and Investment Partnership (TTIP) on the economies of all fifty United States. Download PDF In summer 2013, representatives of the United States and European Union opened negotiations to establish this new trade partnership, which would deepen the relationship between the world’s two leading economies...

Read more

Brussels, 24 September 2013 -- Today the European Commission adopted two measures to improve the safety of medical devices fulfilling its commitment to restore patient confidence in the medical devices sector following, amongst others, the Poly Implant Prothèse (PIP) breast implants scandal. The new rules are a Commission Implementation Regulation clarifying the criteria to be met by notified bodies1, which are responsible for inspecting manufacturers of medical devices, and a Recommendation clarifying the tasks these bodies have to undertake when...

Read more

Commissioner De Gucht spoke about the main challenges the EU and the US will face in the negotiations for the EU-US free trade agreement, known as “Transatlantic Trade and Investment Partnership” (TTIP). Speaking at an event promoting the Ryder Cup golf competition one year ahead of the next tournament in Gleneagles, Scotland, he said that apart from removing customs duties and freeing up trade in services, the most difficult bit will be to reduce regulatory barriers to trade and investment....

Read more

The practical details of setting up a single bank resolution system and fund, the upcoming bank balance sheet health checks and next steps for Greece were the key issues Economic and Monetary Affairs Committee MEPs raised with European Central Bank President Mario Draghi on Monday. MEPs also discussed the economic risk landscape with Mr Draghi, in his capacity as Chair of the European Systemic Risk Board. Single resolution mechanism Besides discussing the practical details for establishing the single bank supervisor, the...

Read more

Speech by Andreas Dombret Member of the Executive Board of the Deutsche Bundesbank at the 24th European Business School Symposium in Oestrich-Winkel Thursday, 19 September 2013 Ladies and gentlemen Most people remember what they were doing on September 11, 2001. On that day the towers of the World Trade Center collapsed, sending a shock wave throughout the world. What followed was a war in Afghanistan and a war in Iraq. In the financial profession, most people remember September 15, 2008. On that...

Read more