A LIFE-line for 144 innovative projects investing for a better environment and climate action. The European Commission has approved an investment package of €222.7 million from the EU budget to support Europe's transition to a more sustainable and low-carbon future. The EU funding will spur additional investments leading to a total of €398.6 million to be invested into 144 new projects in 23 Member States. The support comes from the LIFE programme for the Environment and Climate Action. €323.5 million will...

The European Central Bank (ECB) has today published three new guidelines (Guidelines ECB/2016/31, ECB/2016/32 and ECB/2016/33). These guidelines provide amendments to (i) the General Documentation Guideline on the implementation of the Eurosystem’s monetary policy (ECB/2014/60), (ii) the Guideline on Valuation Haircuts (ECB/2015/35) and (iii) the Guideline on Additional Temporary Measures relating to Eurosystem refinancing operations and eligibility of collateral (ECB/2014/31). The new Guidelines introduce changes to the monetary policy implementation framework, including: First, the Eurosystem is introducing some changes to the...

Solid growth in most of the region, CIS emerging from recession But sustaining current growth requires further structural reforms Better tax administration, public investment can free up 2-4 percent of GDP in extra resources Economic growth remains solid in much of Central, Eastern, and Southeastern Europe (CESEE), while Russia’s outlook is improving, and other countries of the Commonwealth of Independent States (CIS) are emerging from recession, says the IMF in its latest Regional Economic Issues report on the region. For the region as...

Today, the EU and Canada signed the Comprehensive Economic and Trade Agreement (CETA) and a new Strategic Partnership Agreement that deepens cooperation in vital areas such as human rights, international peace and security, economic and sustainable development, justice, freedom and security. European Commission President, Jean-Claude Juncker, speaking at his joint press conference with the Canadian Prime Minister, Justin Trudeau, and European Council President, Donald Tusk, said, “Today, the people of Canada and the European Union have opened a new chapter...

The 16th Summit between the European Union and Canada held today in Brussels marks a historic juncture in our political and economic partnership, in the 40th year of formal cooperation. Jean-Claude Juncker, President of the European Commission, Donald Tusk, President of the European Council, Robert Fico, Prime Minister of Slovakia, and Justin Trudeau, Prime Minister of Canada, signed two landmark agreements: the Comprehensive Economic and Trade Agreement (CETA) and the Strategic Partnership Agreement (SPA). "Today, the people of Canada and the...

Consolidation in the banking sector continued in 2015 Median CET 1 ratio increased to 14.6% from 14% in 2014 and profitability of the euro area banking sector improved In 2015 the median NPL ratio of banks, although still elevated, declined for the first time since 2008 The banking system increased its reliance on deposit funding and became less dependent on wholesale and central bank funding Insurance companies and pension funds are starting to adjust structurally to the low-yield environment The non-bank financial sector (including...