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European Stability Mechanism – Main Features, Instruments and Accountability

11-10-2019

This document presents the main features of the European Stability Mechanism (ESM), including governance, capital structure and funding sources, main lending instruments, as well as its oversight and accountability framework. It also reviews recent proposals and contributions on the possible evolution of the ESM. This note is regularly updated.

This document presents the main features of the European Stability Mechanism (ESM), including governance, capital structure and funding sources, main lending instruments, as well as its oversight and accountability framework. It also reviews recent proposals and contributions on the possible evolution of the ESM. This note is regularly updated.

China's growing role as a security actor in Africa

08-10-2019

China has emerged as an important economic, political but also security actor in Africa as a result of its 'Going out' policy officially launched in 2001, and the massive roll-out of its signature connectivity strategy, the Belt and Road Initiative (BRI), since 2013. The presence of Chinese citizens and economic assets in Africa has grown substantially due to China's expanding trade with, and China-funded infrastructure projects in, African countries. Many of those countries are plagued by intrastate ...

China has emerged as an important economic, political but also security actor in Africa as a result of its 'Going out' policy officially launched in 2001, and the massive roll-out of its signature connectivity strategy, the Belt and Road Initiative (BRI), since 2013. The presence of Chinese citizens and economic assets in Africa has grown substantially due to China's expanding trade with, and China-funded infrastructure projects in, African countries. Many of those countries are plagued by intrastate armed conflicts, jihadist terrorism or maritime piracy off their coasts. The rising number of violent attacks against Chinese workers, calls from the domestic Chinese audience for action, and surging economic loss are some of the factors that have compelled the Chinese government to react. China has shifted from uncompromising non-involvement to selective and incremental engagement in bilateral, regional and international cooperation on peace and security by nuancing, on a case-by-case basis, the narrow boundaries of its normative foreign policy framework, including the principle of non-interference in the internal affairs of foreign countries, that had made a previously inward-looking China for decades a free-rider on global security, provided by the US in particular. As in other fields, China has pursued a two-pronged approach to African security issues, to defend its economic and security interests and to expand its influence in Africa. On the one hand, it has contributed to existing multilateral structures and instruments to foster peace and security. It has participated in UN-led peacekeeping missions to Africa and in the UN-mandated counter-piracy action off the Horn of Africa. Both have provided the pretext for China to accelerate its massive blue-water navy build up, to be present in the Indian Ocean and beyond and to set up its first overseas military base, in Djibouti. On the other hand, it has expanded its military presence by engaging African countries bilaterally through joint drills, military training, and military infrastructure-building and multilaterally through the newly created China-Africa fora on security issues. Against this backdrop it remains to be seen how complementary or competitive the future EU-China security cooperation, which so far has remained in its infancy, will be in seeking 'African solutions to African problems'.

Amending capital requirements: The 'CRD-V package'

30-07-2019

In May 2019, the European Parliament and the Council (the co-legislators) adopted the legislative proposals amending the Capital Requirements Directive and Regulation, which establish the prudential framework for financial institutions operating in the EU. The amendments implement the most recent regulatory standards for banks, set at international level ('Basel III framework'). They also address some regulatory shortcomings and aim to contribute to sustainable bank financing of the economy. The ...

In May 2019, the European Parliament and the Council (the co-legislators) adopted the legislative proposals amending the Capital Requirements Directive and Regulation, which establish the prudential framework for financial institutions operating in the EU. The amendments implement the most recent regulatory standards for banks, set at international level ('Basel III framework'). They also address some regulatory shortcomings and aim to contribute to sustainable bank financing of the economy. The final acts were published in the Official Journal on 7 June 2019. The new provisions will for the most part apply as of 2021. Fourth edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

CAP horizontal regulation: Financing, management and monitoring of the common agricultural policy for 2021-2027

25-06-2019

As part of the preparation of the EU budget for 2021-2027, the European Commission put forward a new set of regulations to shape the future EU Common Agricultural Policy (CAP) on 1 June 2018. The proposal for a regulation on the financing, management and monitoring of the CAP provides the legislative framework for adapting the financing, management and monitoring rules to a new CAP delivery model. This seeks to achieve more subsidiarity and simplification, with greater responsibility given to Member ...

As part of the preparation of the EU budget for 2021-2027, the European Commission put forward a new set of regulations to shape the future EU Common Agricultural Policy (CAP) on 1 June 2018. The proposal for a regulation on the financing, management and monitoring of the CAP provides the legislative framework for adapting the financing, management and monitoring rules to a new CAP delivery model. This seeks to achieve more subsidiarity and simplification, with greater responsibility given to Member States, a shift from ensuring single transaction compliance to monitoring system performance in each Member State, and reduced 'red tape', among other things. Second edition. The 'EU Legislation in Progress' briefings are updated at key stages throughout the legislative procedure.

Turkish Cypriot community: Financial support instrument

10-04-2019

The Commission runs an aid programme for the Turkish Cypriot community in order to prepare for and facilitate reunification of Cyprus.

The Commission runs an aid programme for the Turkish Cypriot community in order to prepare for and facilitate reunification of Cyprus.