Modern EU

International Internet Magazine. Baltic States news & analytics Sunday, 29.03.2020, 09:16

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Commission’s approval for Latvian loan and subsidies for SMEs

Commission’s approval for Latvian loan and subsidies for SMEs


In mitigating negative effects to the member states economy, the governments are facing numerous challenges: disruption of supply chains, lower consumer demand, production deficiencies, as well as decrease in investment and liquidity constraints for undertakings. The Commission has approved Latvian loan guarantee scheme and subsidize for companies affected by coronavirus outbreak.

Keyword tags: EU – Baltic States, Financial Services, Funds, Latvia, Modern EU

Cultural and creative sector: exploring financial support

Cultural and creative sector: exploring financial support


Cultural and creative sector, including SMEs, remains poorly exploited and at risk, European Commission acknowledges. Great and important cultural sector’s potentials in all EU states require some support: hence, modern European guarantee’s program is aimed at providing support. The Baltic cultural sphere shall be more active in acquiring these funds.

Towards a “balancing theory” in the EU-Baltics’ relations

Towards a “balancing theory” in the EU-Baltics’ relations


European socio-economic integration has experienced numerous positive member states’ involvement in the process through some modernized “adaptation” means, like cohesion, subsidiarity, division of competence, European Semester, etc. However, some additional approaches are needed to mitigate growing discontent; in this regard a “balancing model” is suggested to specify most optimal relations between the EU institutions and the states.

European “green deal”: benefits for business and consumers

European “green deal”: benefits for business and consumers


The Commission’s “green deal” adopted in December 2019, represents a European ambitious plan towards a climate-neutral circular economy, strengthened competitiveness, protecting the environment and giving additional rights to consumers. The “green deal” requires the member states’ governments to take decisive actions in adopting circular economy plans as the main part of new EU priorities.

Happiness measurements for reaching sustainable goals

Happiness measurements for reaching sustainable goals


As a universal goal, the relevance of happiness is recognized in many countries as a vital means for reaching citizens’ well-being. Importance of this recognition in public policy requires an active state’s objectives and priorities towards more inclusive, equitable and balanced approach to economic growth that promotes sustainable development.


European industrial strategy: new message for the states

In March 2019, the European Council called for a comprehensive and long-term strategy for the member states concerning industrial policies with an integrated approach for a deeper and stronger single market. The new “EU’s industrial path” is part of the Commission’s political guidelines for 2024 and includes the European “green deal” and the digital agenda. The Baltic States have to be ready for a certain “home work”...


Digital technologies in the EU: priorities and challenges

The “State of Digital Communication” report revealed by the Commission provides a qualitative assessment of the European digital communicators’ activity, which is becoming ever more important for modern socio-economic development in the EU states. Hence, the challenges include, e.g. integrating environmental sustainability and people’s welfare with an increased growth by using smart, efficient and new types of connected technologies.


EU regions in implementing European trade agreements

The European Committee of the Regions, CoR in the beginning of March discussed opportunities and obstacles in implementing the EU’s Free Trade Agreements (FTAs) on local and regional level. EU’s external trade is an exclusive competence of the EU institutions and advisory bodies.


Preserving European natural habitat: EU’s financial assistance

The European Commission plans to invest about €100 mln in preservation of natural habitats and reducing pollution in lakes and rivers. The EU’s LIFE program (for environment and climate action) during 2014-20 has a budget of € 3.4 bn. Present funding will support 10 large-scale environment protection projects in nine states, including two in the Baltic States – Estonia and Latvia.


EU economic governance: challenges for the member states’ growth models

The start of a new Union’s political cycle with a new Commission’s College is witnessing a period of efficiency assessment through an open dialogue of the present economic and fiscal surveillance in the member states. The Commission has to report once in five years on the application of the existing legal rules for the economic governance. Hence, the Baltic States will face some months of constructive dialogues…


Infringement procedures: referring EU states to the Court of Justice

The European Commission usually sends initially a letter of formal notice to a member state violating the EU legislation, which is followed by a reasoned opinion and finally bringing “the case” to the Court of Justice. This time it was, for example, Portugal for taxation issues and Italy concerning access to genetic resources from non-EU countries.


EU’s macro-regional cooperation: smart specialisation approach

Sub-regional growth analysis among the Baltic Sea states is subject to certain challenges connected to “smart specialisation strategy” (3S) initiated recently by the EU institutions. The article focuses on such 3S aspects as: the sub-regional growth concept in the Union, 3S political priorities, as well modern 3S trends in Nordic and Baltic States, etc.


Cohesion policy through subsidiarity: new Commission’s initiatives

The Commission decided to launch new pilot actions to involve more states and citizens in the resolution of EU’s cohesion projects. The aim is to support active involvement of citizens and civil society organisations in the way the EU funds are planned, invested and monitored, to ultimately ensure better results.


Supporting SMEs: European and Spanish financial initiatives

European Investment Bank and Spanish BBVA joined forces to support local SMEs with favorable financial interest rates. EIB is providing BBVA with a €300m guarantee to expand its SME financing capacity; half of this guarantee is being granted with Investment Plan for Europe support. The initiative is good to emulate for SMEs in the Baltic States.


Modernising house heating: EIB-EU loans

Numerous cities in Eastern and Central European states are having a lot of old houses equipped with the old-fashioned internal heating systems (mainly wooden fireplaces), which are both inefficient and polluting. The European Investment Bank provides loans to two district heating operators in Poland for upgrading heating network and energy generation system. The Baltic States shall be more active and inventive…

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