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Establishment of the European Monetary Fund

06-03-2019

On 6 December 2017, the European Commission made a proposal to transform the intergovernmental European Stability Mechanism (ESM) into a European Monetary Fund (EMF) under EU law. It would get additional prerogatives, and the decision-making mechanisms would be fundamentally altered, shifting power away from the Member States. The proposal has met considerable resistance at Council level, and at the December 2018 Euro Summit it was decided to maintain the ESM's intergovernmental character. The European ...

On 6 December 2017, the European Commission made a proposal to transform the intergovernmental European Stability Mechanism (ESM) into a European Monetary Fund (EMF) under EU law. It would get additional prerogatives, and the decision-making mechanisms would be fundamentally altered, shifting power away from the Member States. The proposal has met considerable resistance at Council level, and at the December 2018 Euro Summit it was decided to maintain the ESM's intergovernmental character. The European Parliament is expected to vote on an interim report during the March I plenary session, with a view to its future consent vote on the proposal – should the Council reach agreement on it.

Establishment of a European monetary fund (EMF)

06-03-2019

The European Commission's proposal for transforming the intergovernmental European Stability Mechanism (ESM) into a European monetary fund (EMF) under EU law would provide it with wide-ranging tasks. The ESM was created at the height of the European sovereign debt crisis in order to provide financial assistance for governments that had lost, or were about to lose, access to financial markets. It was established outside the Community framework by an intergovernmental treaty and is a permanent rescue ...

The European Commission's proposal for transforming the intergovernmental European Stability Mechanism (ESM) into a European monetary fund (EMF) under EU law would provide it with wide-ranging tasks. The ESM was created at the height of the European sovereign debt crisis in order to provide financial assistance for governments that had lost, or were about to lose, access to financial markets. It was established outside the Community framework by an intergovernmental treaty and is a permanent rescue mechanism aimed at safeguarding the financial stability of the euro area. The proposal met with considerable opposition at Council level, as the Council wishes to maintain the ESM's intergovernmental character, and would expand its remit only slightly. The European Parliament, whose legislative powers are limited within the consent procedure, will vote on an interim report in plenary.

European Investment Stabilisation Function (EISF)

10-01-2019

The idea behind the Commission's proposed European Investment Stabilisation Function is to use dedicated financial means from the EU budget to help Member States stabilise their economies in the event of a major asymmetric shock. The Commission would borrow on the financial markets and then lend to the country concerned, which would use the money to finance public investment. Once the crisis was over, the Member State would reimburse the debt. The Commission hopes the other Member States would agree ...

The idea behind the Commission's proposed European Investment Stabilisation Function is to use dedicated financial means from the EU budget to help Member States stabilise their economies in the event of a major asymmetric shock. The Commission would borrow on the financial markets and then lend to the country concerned, which would use the money to finance public investment. Once the crisis was over, the Member State would reimburse the debt. The Commission hopes the other Member States would agree to subsidise the interest payments incurred. The function would be limited to euro-area countries, but those that have entered the exchange rate mechanism II (ERM II) might also benefit. The lending would be quasi automatic once statistical data showed an exceptional and steep rise in unemployment. The dossier has met with considerable opposition at Council level.

Single digital gateway

19-12-2018

As part of the ‘compliance package’, the Commission intends to provide a single digital entry point to offer easy and efficient online access for businesses and citizens, comprising: (1) information about Union and national law and administrative requirements, (2) procedures, such as company registration, and (3) services providing assistance upon request. The portal would serve start-ups and growing companies, as well as helping companies conducting business in another country. Access to these services ...

As part of the ‘compliance package’, the Commission intends to provide a single digital entry point to offer easy and efficient online access for businesses and citizens, comprising: (1) information about Union and national law and administrative requirements, (2) procedures, such as company registration, and (3) services providing assistance upon request. The portal would serve start-ups and growing companies, as well as helping companies conducting business in another country. Access to these services would be non-discriminatory, i.e. citizens and businesses from other Member States would have full access to the information and services, and this not only in the language used in the country in which they want to do business. The proposal builds on several existing schemes, such as single points of entry at national level; these cover only a few fields, are not always interconnected, suffer from being little known and are therefore underutilised. In May 2018, trilogues concluded with a provisional agreement, which was then confirmed by both Parliament and Council. The final act was signed on 2 October 2018.

European defence industrial development programme (EDIDP)

28-09-2018

The European Union is facing new security threats amid growing uncertainty about the reliability of some of its allies. As a consequence, it has embarked on a general scalingup of its defence capabilities. A European defence action plan has been agreed and a European Defence Fund created to provide financial support, ranging from the research phase to the acquisition phase of military equipment and technologies. The EDIDP, which will be part of that fund, is destined to provide the European defence ...

The European Union is facing new security threats amid growing uncertainty about the reliability of some of its allies. As a consequence, it has embarked on a general scalingup of its defence capabilities. A European defence action plan has been agreed and a European Defence Fund created to provide financial support, ranging from the research phase to the acquisition phase of military equipment and technologies. The EDIDP, which will be part of that fund, is destined to provide the European defence industry with financial support during the development phase of new products and technologies in areas selected at European level. An agreement was reached in trilogue negotiations in May 2018, and after Parliament and Council had approved the deal, the final legislative act was signed on 18 July 2018. This programme, with a financial envelope of €500 million, is due to run from January 2019 to December 2020.

Single Digital Gateway

05-09-2018

During the September 2018 plenary, the European Parliament is expected to vote on a legislative proposal creating the Single Digital Gateway. The aim is to establish a single digital entry point for EU citizens and businesses, giving access to a host of information, offering total and non-discriminatory use of online procedures, and facilitating the work of services providing assistance upon request.

During the September 2018 plenary, the European Parliament is expected to vote on a legislative proposal creating the Single Digital Gateway. The aim is to establish a single digital entry point for EU citizens and businesses, giving access to a host of information, offering total and non-discriminatory use of online procedures, and facilitating the work of services providing assistance upon request.

European defence industrial development programme (EDIDP)

27-06-2018

In an environment of increasing security threats and diminishing reliability of some of its key traditional allies the European Union decided it was time to increase its own military capabilities. A European Defence Fund (EDF) was created, of which a new European defence industrial development programme (EDIDP) would be part. During its July 2018 plenary the European Parliament is expected to vote at first reading on the proposal to create the EDIDP. The programme is destined to provide financial ...

In an environment of increasing security threats and diminishing reliability of some of its key traditional allies the European Union decided it was time to increase its own military capabilities. A European Defence Fund (EDF) was created, of which a new European defence industrial development programme (EDIDP) would be part. During its July 2018 plenary the European Parliament is expected to vote at first reading on the proposal to create the EDIDP. The programme is destined to provide financial support during the development phase of new products and technologies, i.e. the phase that follows research and precedes the acquisition of defence systems.

WIFI4EU - Promotion of internet connectivity in local communities

10-11-2017

On 12 September 2017, the European Parliament voted to adopt a legislative act that aims at the promotion of very fast wireless internet access in local communities. This service will be provided free of charge to the public at large. The areas covered will encompass public administrations, libraries and hospitals, as well as outdoor spaces accessible to all. The aim is to increase accessibility to high-performance mobile internet, and to raise awareness of the benefits of such connectivity. Administrative ...

On 12 September 2017, the European Parliament voted to adopt a legislative act that aims at the promotion of very fast wireless internet access in local communities. This service will be provided free of charge to the public at large. The areas covered will encompass public administrations, libraries and hospitals, as well as outdoor spaces accessible to all. The aim is to increase accessibility to high-performance mobile internet, and to raise awareness of the benefits of such connectivity. Administrative procedures will be simplified and EU funds will be used to provide financial support to the establishment of such networks. This action comes within the framework of the digital single market, and is one of several legislative proposals announced on 14 September 2016 by the Commission, with its communication, ‘Connectivity for a competitive digital single market – Towards a European gigabit society’.

Reflection paper on harnessing globalisation

08-09-2017

Globalisation is nothing new; it is centuries old and has always contributed significantly to boosting growth and creating employment. It goes beyond the mere circulation of commercial goods, and more recently services, as it is a way to exchange ideas, spur discovery and innovation, and increase competitiveness. However, for some, globalisation is synonymous with unfair trade practices, job losses and the offshoring of firms, and there has recently been a backlash, culminating in the failure of ...

Globalisation is nothing new; it is centuries old and has always contributed significantly to boosting growth and creating employment. It goes beyond the mere circulation of commercial goods, and more recently services, as it is a way to exchange ideas, spur discovery and innovation, and increase competitiveness. However, for some, globalisation is synonymous with unfair trade practices, job losses and the offshoring of firms, and there has recently been a backlash, culminating in the failure of multilateral trade agreements. Calls for protectionism are all the while growing louder. As part of its wider exercise to modernise the EU, which is now centred on the white paper on the future of Europe, the Commission published a reflection paper on harnessing globalisation in May 2017. The paper identifies both an acceleration and a transformation of globalisation, making it unescapable, and the Commission therefore strongly supports keeping markets open. Nevertheless, it also advocates shaping globalisation in order to spread core European values, such as human rights. The EU's external response should be based on international cooperation, economic diplomacy and ensuring a level playing field. The policy areas covered would range from trade to environment, and from sustainable development to investment. In parallel, the EU's internal response would aim to increase resilience through improved sharing of the benefits of globalisation, and promoting European industry's long-term competitiveness. Reinforcement of the internal market and using the European Semester for improved coordination of economic policies is also advocated in connection with harnessing globalisation, as is targeted support for regions. This briefing is one of a series on the European Commission's reflection papers following up the March 2017 White Paper on the Future of Europe.

WIFI4EU - Promotion of internet connectivity in local communities

05-09-2017

The European Commission has launched an initiative aimed at providing free access to fast internet in local communities. The European Parliament is due to discuss and vote on WIFI4EU during its September plenary.

The European Commission has launched an initiative aimed at providing free access to fast internet in local communities. The European Parliament is due to discuss and vote on WIFI4EU during its September plenary.

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25-06-2019
Meeting EU energy and climate goals: Energy storage for grids and low-carbon mobility
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