Following the financial crisis, the question of how to handle a big bank’s collapse has come to the fore. This Policy Contribution evaluates the obstacles to resolvability that the legal and operational structures of the large euro-area banks could pose to the European Union’s new resolution regime. In the aftermath of the financial crisis, the question of how to handle a big bank’s collapse has arisen. Large banks perform functions that if disrupted could seriously damage the financial sector and...

The European Commission today presents a package of measures to keep the European Union competitive as the clean energy transition is changing the global energy markets. The Commission wants the EU to lead the clean energy transition, not only adapt to it. For this reason the EU has committed to cut CO2 emissions by at least 40% by 2030 while modernising the EU’s economy and delivering on jobs and growth for all European citizens. Today’s proposals have three main goals:...

Decarbonisation and digitalisation are reshaping the European energy system, which will become more decentralised and interconnected with other sectors. Cities have the opportunity to be the key drivers of decarbonisation, but this will require the implementation of a new bottom-up governance system. This paper outlines a four-step mechanism in order to achieve decarbonisation at city level. Four trends are reshaping the European energy system: decarbonisation, digitalisation and, as a result of the two, decentralisation and convergence. Based on strong public policies,...

58 small and medium-sized companies (SMEs) from 16 countries have been selected for funding in the latest round of the Horizon2020 SME Instrument Phase 2. In this phase of the instrument, each project will receive up to €2.5 million (€5 million for health projects) to finance innovation activities. The total amount to be distributed between the SMEs working on 51 projects is €80 million. Spanish SMEs were the most successful with 13 companies selected for funding. They are followed by...

"There are many young, socially minded people in Europe willing to make a meaningful contribution to society and help show solidarity. We can create opportunities for them to do so." - European Commission President Jean-Claude Juncker, 14 September 2016 On 7 December, European Commission Vice-President Kristalina Georgieva will launch the European Solidarity Corps as of 13.00 with the participation of a wide range of organisations and many young people in the Skyshelter dome on the Schuman roundabout in Brussels. Young...

Market integration, better regulation, strengthened public sector capacities and improved access to finance all help counter low investment and secure a brighter economic future. “Breaking Down Investment Barriers at Ground Level”, a new report from the European Investment Bank (EIB), finds that investment in the European Union is hampered by the insufficient functioning of the internal market, as well as administrative burdens, regulatory fragmentation, constraints of public-sector promoters to procure and implement large infrastructure projects and, not least, the...

Today, the Commission is launching the Digital Skills and Jobs Coalition, together with Member States, companies, social partners, NGOs and education providers, to help meet the high demand for digital skills in Europe which are essential in today's job market and society. The Digital Skills and Jobs Coalition is one of the ten key initiatives proposed by the Commission under the New Skills Agenda for Europe, presented in June this year. Today a series of partners, including over 30 organisations...

The European Commission has today unveiled a series of measures to improve the Value Added Tax (VAT) environment for e-commerce businesses in the EU. Our proposals will allow consumers and companies, in particular start-ups and SMEs, to buy and sell goods and services more easily online. By introducing an EU wide portal for online VAT payments (the 'One Stop Shop'), VAT compliance expenses will be significantly reduced, saving businesses across the EU €2.3 billion a year. The new rules will...