Ryanair had challenged that decision, relating to an aid scheme amounting to €10 billion. In July 2020, Spain notified the European Commission of an aid scheme to set up a solvency support fund. The beneficiaries were (non-financial) strategic Spanish undertakings experiencing temporary difficulties as a result of the COVID-19 pandemic. That aid scheme provided for […]
Read More
Is the clock ticking on AI?
Renowned AI experts call on world governments and tech giants to take action now on AI risks. “Probably none of us will have a job,” Elon Musk stated about AI when speaking remotely at a leading tech conference in Paris on 23 May. The billionaire hasn’t been shy about referring to AI as his biggest […]
Read More
Basel III reforms: new EU rules to strengthen bank resilience
The Council adopted new rules aimed at making banks operating in the EU more resilient to possible economic shocks. The changes aim to increase the resilience of banks, strengthen their supervision and reinforce risk management. In addition they will strengthen supervision and sustainability in the banking sector. Vincent Van Peteghem, Belgian minister for finance, stated last Thursday: “The […]
Read More
8% of EU enterprises used AI technologies in 2023
In 2023, 8% of enterprises in the EU with 10 or more employees used Artificial intelligence (AI) technologies to conduct their business. This data comes from the newly updated Statistics Explained article on the use of artificial intelligence in enterprises. Artificial intelligence refers to systems that use technologies such as text mining, computer vision, speech […]
Read More
European Commission approves up to €1.4 billion for fourth major project of common European interest in the hydrogen value chain
The European Commission has approved, under EU State aid rules, a fourth Important Project of Common European Interest (‘IPCEI’) to support research, innovation and the first industrial deployment in the hydrogen value chain. The project contributes to the EU’s target of 90% reduction of emissions from the mobility and transport sectors, in order for the […]
Read More
European Commission approves up to €1 billion for fourth major project of common European interest in the health sector
The European Commission has approved, under EU State aid rules, the first Important Project of Common European Interest (‘IPCEI’) to support research, innovation and the first industrial deployment of healthcare products, as well as innovative production processes of pharmaceuticals. This IPCEI will notably contribute to the European Health Union‘s objectives by delivering innovations addressing diseases for […]
Read More
Joint statement of the parties to the European Economic Area Agreement on the occasion of the 30th anniversary of its entry into force
This year marks the 30th anniversary of the entry into force of the European Economic Area (EEA) Agreement. The EEA Agreement, which unites our States in the internal market, has been the bedrock of our close and special partnership. It has greatly contributed to the prosperity of our societies and economies. This exceptional milestone invites […]
Read More
The Commission decides to refer SPAIN to the Court of Justice of the European Union for failing to implement taxation rules set out by the Merger Directive
The European Commission decided to refer Spain to the Court of Justice of the European Union for failure to ensure correct implementation of the Merger Directive on the common system of taxation applicable to Member States (Directive 2009/133/EC). The objective of the Merger Directive is to remove fiscal obstacles to cross-border reorganisations involving companies situated in two […]
Read More
EIB and MicroBank to provide €200 million to finance microenterprises and self-employed in Spain
The EIB and MicroBank have signed a €100 million loan that MicroBank will top up with a further €100 million to provide microloans to small businesses and self-employed individuals wanting to launch or expand their businesses. The transaction will boost job creation, especially among young entrepreneurs in need of liquidity to turn their ideas into business […]
Read More