Additional price caps for Russian petroleum products that are transported by sea have been adopted by the European Union and the global G7+ Price Cap Coalition (such as diesel and fuel oil). Russia’s ability to conduct war in Ukraine will be diminished by this choice, which will further harm its financial streams. Additionally, it will […]
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The European Central Bank raises interest rates to 3%
The Governing Council will stay the course in raising interest rates significantly at a steady pace and in keeping them at levels that are sufficiently restrictive to ensure a timely return of inflation to its 2% medium-term target. Accordingly, the Governing Council decided to raise the three key ECB interest rates by 50 basis points […]
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The European Commission presents a Green Deal Industrial Plan to enhance the competitiveness of Europe’s net-zero industry
The Commission presents a Green Deal Industrial Plan to enhance the competitiveness of Europe’s net-zero industry and support the fast transition to climate neutrality. The Plan aims to provide a more supportive environment for the scaling up of the EU’s manufacturing capacity for the net-zero technologies and products required to meet Europe’s ambitious climate targets. […]
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The Single Market, the key instrument for meeting current challenges, turns 30 years old
The Commission has published the 2023 Annual Single Market Report and the 2022 Single Market Scoreboard, as part of activities to mark the 30th anniversary of the Single Market. The reports confirm that the Single Market remains a key tool to address Europe’s current challenges and highlight the importance of continuously improving its functioning, as well as […]
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The European Structural and Investment Funds supported more than 4 million SMEs between 2014 and 2020
In 2014-2020, the European Structural and Investment Funds (ESI Funds) unleashed a total investment of €731 billion, of which €535 billion was funded by the EU, fostering lasting socio–economic convergence, territorial cohesion, social Europe and a smooth green and digital transition. This is explained in the 2022 Summary Report on the Implementation of the ESI Funds adopted by the Commission. The […]
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Council adopts a Recommendation on an adequate minimum income
The Council therefore recommends that member states provide and strengthen robust social safety nets by combining adequate income support through minimum income benefits and other accompanying monetary benefits, in-kind benefits, and by giving access to enabling and essential services. This Council recommendation aims to: Combating poverty and social exclusion, Pursueing high levels of employment by […]
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European Commission detects manipulation practices in 148 of the 399 online stores examined
The European Commission and national consumer protection authorities of 23 Member States, Norway and Iceland (CPC Network), released the results of a screening (“sweep”) of retail websites. This check covered 399 online shops of retail traders selling products ranging from textiles to electronic goods. It also focused on three specific types of manipulative practices that […]
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Consumer protection: Google commits to comply with EU rules to provide consumers with clearer, more accurate information
Have you ever struggled to understand whether you were buying directly from Google or from a different brand, or had difficulty finding information about final costs? In order to further align its practices with EU law – mainly on lack of transparency and clear information to consumers – Google has committed to introduce changes in […]
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EU trade with Russia declined strongly
EU trade with Russia has been strongly affected following Russia’s invasion of Ukraine, with the EU imposing import and export restrictions on several products. The effects of these measures have been particularly visible in the latest months. Considering seasonally adjusted values, both exports and imports dropped considerably below the levels prior to Russia’s invasion. Russia’s share in extra-EU imports fell from 6.4% […]
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