Brussels, 13 May 2012 Statement by Olli Rehn, Vice President of the European Commission responsible for Economic and Monetary Affairs and the Euro: I welcome the measures announced on Friday by the Spanish authorities to further reform the banking sector. A prompt and profound reform of the banking sector is a cornerstone of Spain's crisis response and its overall reform strategy. It is an indispensable supplement of the determined fiscal consolidation and front-loaded structural reforms that can bring sustainable growth and more and better jobs. The current crisis...

The draft 2013 budget amounts to about €138bn in payments, 6.8% more than in 2012. The increase is in line with calls by EU governments for more growth-friendly investment. The Commission proposes to concentrate spending on areas most likely to encourage growth and lead to more jobs. More money will be put into research, education, training, energy and transport networks, and improving the EU’s competitiveness, for example. The increase also reflects the additional sums needed for ongoing programmes. The bills for many...

Today, May 9th, the European Union celebrates Europe Day to commemorate the day in 1950 when French Foreign Minister Robert Schuman proposed consolidating the coal and steel industries of Europe, binding nations so closely together that renewed war would be unthinkable. The "Schuman Declaration" is considered to be the beginning of the creation of what is now the European Union of 27 Member States - very soon 28 Member States. On behalf of President Obamaand the people of the United...

The EU and the United States of America formally agreed to recognise each other's safe traders, thereby allowing these companies to benefit from faster controls and reduced administration for customs clearance, as a result of a mutual recognition decision signed by both parties. EU and U.S. certified trusted traders will enjoy lower costs, simplified procedures and greater predictability in their transatlantic activities. Mutual recognition will also improve security on imports and exports, by enabling customs authorities to focus their...

To celebrate Europe Day on May 9th 2012, New York City's famous landmark will light up in the European Union's flag colors that Wednesday. This image shows what the Empire State Building will look like on the day. For more information on the Empire State Building, please visit: www.esbnyc.com About Europe Day                                                                                          On the 9th of May 1950, French Foreign Minister Robert Schuman presented his proposal on the creation of an organised Europe, indispensable to the maintenance of peaceful relations. This...

Around the world, consumer demand for organic products is growing. Today, at grocery stores on both sides of the Atlantic, shoppers can choose from an ever-expanding range of organically certified produce: from fresh organic fruits, vegetables and meats, to organic frozen foods and beverages, and even organic wine. A recent World of Organic Agriculture 2012 study based on 2010 data estimates that the global market for organic food is worth more than $59 billion. Compared with 2009, the market increased...

EU and U.S. certified trusted traders will enjoy lower costs, simplified procedures and greater predictability in their transatlantic activities thanks to a mutual recognition agreement signed in Washington, D.C. today. "Today's agreement is a major step forward in the EU-U.S. trade relationship," said EU Taxation and Customs Union Commissioner Algirdas Semeta. "At a time when businesses need all the support they can get, this will make life easier and cheaper for many transatlantic traders. It will also help to ensure...

"The U.S. and the EU are primary targets for different kinds of cyber threats. And our governments, businesses and citizens are under siege from increasingly sophisticated attacks," said European Union Home Affairs Commissioner Cecilia Malmström in Washington, DC today.Speaking at a conference organized by the Center for Strategic and International Studies, the European Security Roundtable and SRA International, Commissioner Malmström stressed the importance of cooperation in this area and pointed to some early successes. The EU-U.S. Working Group on Cyber-security...