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The Committees on Budget (BUDG) and Budgetary Control (CONT) are holding a workshop on the role of the EU budget in international climate finance with invitation to Members of the Committee on Environment, Public Health and Food Safety (ENVI). The workshop will cover a series of important questions regarding the financial instruments that are needed to reach the environmental goals that are set out in the Paris Agreement to which the European Union (EU) and all its Member States (MS) are signatories ...

Progress on the Banking Union?

Briefing 27-01-2023

While the Eurogroup did not agree on concrete steps towards the completion of Banking Union, its June 2022 statement does entail some elements that the forthcoming Commission proposals could build upon, making improvements to the crisis management and deposit insurance framework that eventually bring the completion of the Banking Union closer.

Croatia's National Recovery and Resilience Plan (NRRP) is an ambitious outline of reforms and investment designed to mitigate the pandemic's socio-economic fallout. Compared with the size of its economy, Croatia is the largest recipient of Recovery and Resilience Facility (RRF) funds, with a total financial allocation of €6 295 million, or 11.6 % of the country's gross domestic product (GDP). The allocation corresponds to 0.9 % of the total RRF volume, and is entirely grant-based. In June 2022, the ...

The crypto-asset sector, while still relatively new, has already changed the world of payments and investment forever. The fast-changing, mobile nature of the sector and its growing market prominence poses challenges, however, for tax authorities, which are not always able to track the capital gains made from trading crypto-assets. On 8 December 2022, the European Commission proposed to set up a reporting framework which would require crypto-asset service providers to report transactions made by ...

To align regulations and policies with the legally binding goals – delivering, by 2030, a 55 % net greenhouse gas emissions reduction compared to 1990, and reaching climate neutrality in Europe by 2050 – on 14 July the European Commission presented its first proposals under the 'fit for 55' package. One of these proposals involves amending Regulation (EU) 2018/841 on emissions and removals from land use, land-use change and forestry (the LULUCF Regulation). Among the main changes envisaged are to ...

The European Union’s international trade has suffered from the COVID-19 pandemic, broken supply chains, the growth of protectionism in many regions and, most recently, from Russia’s war on Ukraine. The United States' trade policy towards China, which is aimed at curbing the authoritarian country’s growing power, has exacerbated the fragmentation of trade. The United States has adopted the Inflation Reduction Act, a massive green subsidy programme which analysts and politicians say may lower the competitiveness ...

Based on a 2018 (REFIT) evaluation, the IA defines the main problems, the objectives and the policy options to address them with a clear intervention logic. It is based on solid internal and external expertise and various consultations to compensate for a considerable (and acknowledged) lack of data. While it is transparent about methods, uncertainties and limitations, additional quantification and/or substantiation would have been useful in some areas, namely when it comes to potential impacts on ...

Spain's National Recovery and Resilience Plan (NRRP) is one of the biggest financed by the Next Generation EU (NGEU) recovery instrument. It contains the largest amount, in terms of grants, under the unprecedented EU response to the crisis caused by the coronavirus pandemic. Spain's national allocation for grants under the Recovery and Resilience Facility (RRF) amounts to €69.5 billion and represents 9.6 % of the entire RRF, or 5.6 % of the country's gross domestic product (GDP) in 2019 (the RRF ...

On 30 November 2022, 12 years after the adoption of the first strategy on the EU's role in global health in 2010, the European Commission unveiled the EU global health strategy with the overarching goal of improving global health security and ensuring better health for all. The document takes stock of lessons learnt from the pandemic and guides EU action in an evolving landscape of threats and opportunities, including towards reasserting responsibility for attainment of the United Nations Sustainable ...

On 12 December 2022, the Council adopted the Hungarian recovery and resilience plan (RRP) based on the Commission’s positive evaluation. Compared to the original plan, a whole new component of measures has been added (Component 9: Governance and Public Administration) containing 38 measures with 111 milestones and targets. Of these, 27 milestones are referred to as ‘super milestones’ without which no payment under the RRF will be allowed. These ‘super milestones’ include some of the Key Implementation ...