Modern EU

International Internet Magazine. Baltic States news & analytics Monday, 26.06.2017, 13:22

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Digitalisation in economy and society: new Eurostat publication

Digitalisation in economy and society: new Eurostat publication


More and more businesses conduct their activity electronically: they interact online with partners and customers. The internet has become the cornerstone for their e-business operations as it provides limitless capacities to connect people and businesses worldwide. New Eurostat publication shows some vital statistics.

Keyword tags: Analytics, Business, EU – Baltic States, Internet, Markets and Companies, Modern EU

Ecofin: an account of recent activities in the financial sector

Ecofin: an account of recent activities in the financial sector


The Commission has reached a “principle deal” with the member states to restart EU’s securitisation markets and to strengthen funds for venture capital and social entrepreneurship. Commission presented to the member states’ finance ministers the Capital Markets Union mid-term review and expressed hope for a strong political support. Commission vice-president V. Dombrovskis presented these and other Ecofin actions.

Correct EU laws’ transposition in the member states – June’s account

Correct EU laws’ transposition in the member states – June’s account


European Commission regularly assesses the member states’ transposition of the EU legislation. Present June’s account shows that some EU states do not correctly implement the Union’s legislation, i.e. mainly directives as states have problems in laws’ transposition into national legislation. It concerns energy, electricity, waste, environmental noise, air quality, etc. Baltic Sea states shall be warned…

European Capital Market Union: new perspectives

European Capital Market Union: new perspectives


After almost two years since the launch of the Capital Markets Union (CMU) Action Plan, the Commission published some new initiatives in the mid-term review. Reforms include: pan-European personal pension plan, proposals for a EU-wide framework on covered bonds to help banks finance their lending activity, and a proposal on legal certainty on securities ownership in the cross-border deals.

OECD suggestion: “better life for all” is real

OECD suggestion: “better life for all” is real


The OECD Ministerial Council Meeting (MCM) took place at OECD headquarters in Paris (6-7.06.2017) under the chairmanship of Denmark, with Australia and the UK as Vice-Chairs. The meeting brings together ministers from 35 member states (including 3 Baltic States) and numerous partners to explore policies that could deliver a more inclusive globalisation and respond to growing concerns about globalisation’s negative aspects.


Economic and Financial Affairs Council’s decisions on taxation and finances

At the recent Economic and Financial Affairs Council some decisions were taken for a new system to resolve double-taxation disputes, improve business environment and the common corporate tax base. The Council also discussed Commission report on accelerating the EU's capital markets union and removing national barriers to the free movement of capital together with the proposal on transposition of the Fiscal Compact into national law.


Europe’s future through the economic and monetary union

The Commission issued the third reflection paper, which is an invitation for the member states to express their views on the economic and monetary union’s future as part of the broader debate on the future of Europe. This paper is part of a series of five papers announced in the White Paper on the Future of Europe, the paper which marked the beginning of a process for the EU-27 to decide on the Union’s future.


Investment funds in euro area: supporting business

The role of investment funds in Europe is increasing. Thus, in the first quarter of 2017 the amount of shares/units issued by these funds (other than money market funds) was €419 billion higher than in the fourth quarter of 2016. This development was accounted for by €230 billion in price changes and €189 billion in net issuance of shares/units.


Review of the European Neighbourhood Policy: new approaches

New European Neighbourhood Policy (ENP) responds to new challenges in the evolving EU-neighbors’ approaches. ENP’s review is based on the principles of differentiation, flexibility and ownership under the objective of stabilization in the region. Present joint report by the Commission and the High Representative on the implementation of the ENP review confirms the ENP's central role in creating the conditions for the stabilisation of the EU's neighbourhood, which the review identified as a top priority.


EU’s infringement decisions for the Baltic Sea Area states in May

In its monthly package of infringement decisions, the European Commission is pursuing legal action against some Baltic Sea Area states for failing to comply with their obligations under EU law. These decisions, covering various sectors and EU policy areas, aim to ensure the proper application of EU law for the benefit of citizens and businesses.


State aid control: Commission balances public-private interests

Fair competition in the EU Single Market depends on both private sector’s development and that of the member states’ government policies. The latter is regulated through the Commission’s control of state aid and government subsidies; main changes here relate to sea- and air-ports, culture and regions. Commission has taken more than 30 state aid decisions on ports and more than 50 state aid decisions on airports.


Spring 2017 economic forecast for the European Union

The European economy has entered its fifth year of recovery for all EU member states. The Commission predicted that recovery would continue in the years to come. Spring-17 forecast recently published has shown GDP growth rate at 1,7-1,8% during 2017-18 in the euro-zone area. GDP growth in the EU-28 is expected to remain constant at 1.9% during these two years.


The EU`s transition to a low-carbon era is taking shape

The Second Report on the State of the Energy Union shows that the modernisation of the European Union economy and the transition to a low-carbon era are happening. In terms of greenhouse gas emissions, energy efficiency and renewable energy, Europe is on track to reach its 2020 targets. To further drive this process, the Commission today is announcing a new Energy Union tour.


First Latvian economic forum: supporting national producers

After 25 years of the renewed independence, a pivotal even took place in Latvian developmental history - first economic forum with the main idea of defining national economic identity and Latvian role in the EU and the world. The forum has laid down the first bricks in the new narrative, i.e. Latvian political economy.


Labour costs in EU reflect social disparities

Hourly labour costs ranged from €4.4 to €42.0 across the EU member states in 2016. The lowest labour costs are in Bulgaria and Romania, while the highest are in Denmark and Belgium. Within the euro area, the largest increases were recorded in the Baltic States: Lithuania (+7.5%), Latvia (+6.4%) and Estonia (+5.6%).

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