International Internet Magazine. Baltic States news & analytics
Tuesday, 10.12.2013, 10:17
In his speech - “The conditions for new growth in Europe” - at the European Forum in Alpbach, Austria, Olli Rehn, Vice-President and European Commissioner responsible for Economic and Monetary Affairs and the Euro, underlined necessary steps by the member states and the EU institutions for reaching progressive growth in Europe.
Keyword tags: Analytics, Banks, Business in Europe, Economics, EU – Baltic States, Financial Services, Legislation, Markets and Companies
There is a special tripartite EU Agency - European Foundation for the Improvement of Living and Working Conditions (Eurofound), which provides social partners, governments and EU decision makers with relevant, timely and unbiased research results on living and working conditions of the European citizens. The results of the 3rd survey are expected at the end of 2013.
The EU leaders are aware of the need for stronger rules to react to new threats associated with various methods of money laundering. These threats are constantly evolving, which require regular updates of the rules. The Commission has adopted two proposals to reinforce the EU's existing rules on anti-money laundering and fund transfers.
Stimulating growth is obviously the most important task to get out of exiting financial crisis. Besides, being more competitive is essential to sustainable economic recovery. Therefore, developing a tax environment for growth and competitiveness must be the primary motive for every tax policy and reform in the EU, all the member states and the Baltics.
The Commission’s ‘EU- 2020’ Strategy adopted in 2010 called for improvement of the business environment in Europe. EU company law and corporate governance rules for companies, investors and employees must be adapted to the needs of today’s society and to the changing economic environment. Commission’s action plan for European corporate governance and law should make that companies are both competitive and sustainable.
The European Commission’ assessment issued at the end of December 2012 showed that the volume of national support to the financial sector and banks (during 2008-11) amounted to around €1.6 trillion, or about 13 % of EU GDP. However support to the real economy dropped by more than 50% compared to 2010. About €13.5 billion has been repaid by beneficiaries to the granting authorities at the end of June 2012.
A unique approach to supporting start-ups by helping society’s most vulnerable groups to find work through self-employment and enterprise, created by the UK organisation Outset, was announced today as the winner of the 6th European Enterprise Promotion Awards. Cyprus, Sweden, Italy, Portugal and Turkey also received prizes for driving enterprise with new and innovative local solutions.
A highlight of the Cyprus EU presidency, the first SME Assembly was opened on 15 November 2012 by VP Antonio Tajani and Cypriot Minister of Commerce, Industry and Tourism, Neoklis Sylikiotis. The Assembly discussed the key challenges faced by SMEs across the EU. With over 400 delegates, representing the 23 million SMEs in the EU, the Assembly, in Nicosia, brought together SMEs; business organisations; European, national and regional government; the SME Envoys, academia and the media to discuss how to help SMEs ‘Go for Growth.’, inform BC the organizers.
Single Market is a central element of the European growth agenda in the current economic crisis. The Commission has adopted in October a new proposal –“Single Market Act II”, putting forward twelve key actions for rapid growth in the EU and the Baltic States.
InnoTrans is an important showcase for the international railway industry as it attracts visitors from the EU and around the world. At a conference this year, European Commissioner for transport revealed his views on the sector’s perspectives in a speech called “Europe's railways at a junction: signals for change”.
G4S Eesti board chairman Andrus Ossip will hand over his job from August 1 to current board member Priit Sarapuu and will continue himself working as G4S Eesti and G4S Finland council member, Public Broadcasting said.
The European Commission has followed the process of regulating the financial sector making it more transparent and safe. It adopted recently detailed rules aimed at reducing the risk of settlement failures linked to naked short selling, as well as the means by which market participants should disclose significant short positions to the market.
Generally, agricultural sector plays important role in the EU economic integration and development, though it occupies just about 2-3 per cent in the EU’s GDP. However, agro-products’ share in the citizens’ diet in both vital and great. Then, the EU took decisions to promote agro-stuff in Europe and around the world. These measures could have a positive impact on the Baltic’s’ business.
The European Council (June 28-29) meets at a crucial moment in European integration as well as in the European Union as a whole. The lessons of the past years have shown that further integration among 27 member states and within the euro-zone area, in particular, is indispensable for the EU future. Generally, it means further efforts aimed to complete the economic and monetary union.
Since the start of the modern financial-economic crisis at the end of 2008, the European leaders have been contemplating means and efforts to tackle the crisis. One of the stumbling blocks has been the banking sector: too great, too powerful and too independent. Now it’s time for changes, said the Commission and proposed fundamental reforms in the sector. Politicians in the EU-27 have to make a final decision before the start of summer vocations.