The European Parliament's Committee on Economic and Monetary Affairs (ECON) published its draft report on the proposal for a Council directive implementing enhanced cooperation in the area of the Financial Transaction Tax (FTT). The committee suggests: closing a loophole of the issuance principle as far as OTC derivatives are concerned; reintroducing the ownership principle, according to which a financial transaction in relation to which no FTT has been levied is not legally enforceable and does not result in a transfer of legal...

Speaking at a conference organized by the U.S. Embassy in Dublin, Ireland, European Union Trade Commissioner Karel De Gucht pointed out that the Transatlantic Trade and Investment Partnership is a cost-effective stimulus package, providing a growth boost to the transatlantic economy as well as ensuring that neither the U.S. nor the EU would slide back into protectionism as it would make clear that both "are willing to put their beliefs into practice by opening their markets even further." Commissioner De Gucht...

Remarks at EuroPlace Conference at NYSE:   Paris EUROPLACE International Financial Forum in New York -- 22 April 2013 Ladies and Gentlemen, I am delighted to have the opportunity to address such a distinguished and international audience, in the wake of the G20 and IMF meetings in Washington. During the G20 discussions, the overwhelming concern was how to boost growth and job creation. We discussed the short-term effects of fiscal policy in this respect, the continued need for structural reform, as well as the...

European Commission President José Manuel Barroso and European Council President Herman Van Rompuy met with U.S. Secretary of State John Kerry in Brussels. Describing the EU-U.S. relationship as "rock solid," President Barroso said their discussion centered on Syria, climate change, improving the economy and the "very promising Transatlantic Trade and Investment Agreement, and how we can make this move forward." President Barroso noted, "I believe we can get a mandate from our Member States before summer, that we can keep...

Speaking at the UN General Assembly High Level Debate on Global Economic Governance today, European Commission President José Manuel Barroso said that tax evasion costs the European Union 1 trillion euros every year and "the global bill is much higher. That is money that should be available to spend on education, skills, healthcare, and infrastructure investment in both developed and developing countries."  President Barroso stressed that the EU is taking common action on exchange of information, on tax havens and...

Trade talks between the European Union and the U.S. won’t undermine essential protections for health and the environment, European Commission President Jose Barroso said an event today here in New York that was co-organised by the EACCNY and Bloomberg LP. The negotiations, which Barroso said will start before this summer, will target “unnecessary costs” created by differing regulations, as well as conventional trade barriers such as tariffs and quotas. “We, on both sides, will not compromise on our high levels...

Croatia: Last Monitoring Report Concludes Country will be Ready to Join the EU The European Commission adopted its last Monitoring Report on Croatia’s preparations for joining the EU. The Commission assesses that Croatia has completed the ten priority actions identified in the previous report in October, and has shown the will and ability to fulfill all outstanding commitments in good time before accession. The Commission concludes that Croatia will be ready to join the European Union on 1 July 2013. “This...

  “Girls in ICT Day” is an annual event—marked on April 25 this year—that focuses on the need to increase the number of women employed in the Information and Communications Technology (ICT) sector. Currently, women hold just 30 percent of ICT jobs. By marking this day, the co-organizers—the European Commission, the European Parliament, and the International Telecommunications Union—aim to empower and encourage girls and young women to consider careers in ICT. Stakeholders are encouraged to organize activities that help raise visibility...