The ECB Governing Council has raised interest rates for the first time in eleven years, and is likely to raise them again in the coming months. Why have interest rates increased? The ECB is the central bank of the euro and has a mandate to keep prices stable. When prices in our economy are rising […]
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General product safety regulation: Council adopts its position
Member States agreed on a mandate for negotiations with the European Parliament on the proposal for a regulation on general product safety (GPSR). An increasing number of consumers buy goods and products online – a trend which was reinforced by the Covid-19 pandemic. To keep up with challenges linked to this trend, the GPSR proposal modernises the rules […]
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DMA: Council gives final approval to new rules for fair competition online
On 18 July, the Council gave its final approval on new rules for a fair and competitive digital sector through the Digital Markets Act (DMA). The DMA ensures a digital level playing field that establishes clear rights and rules for large online platforms (‘gatekeepers’) and makes sure that none of them abuses their position. Regulating the […]
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State Aid: Commission approves up to €5.4 billion of public support by fifteen Member States to boost hydrogen technology
The Commission has approved, under EU State aid rules, an Important Project of Common European Interest (‘IPCEI’) to support research and innovation and first industrial deployment in the hydrogen technology value chain. The project, called “IPCEI Hy2Tech” was jointly prepared and notified by fifteen Member States: Austria, Belgium, Czechia, Denmark, Estonia, Finland, France, Germany, Greece, Italy, Netherlands, […]
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Ukraine: EU grants access to funding under the EU4Health
As part of the Commission’s ongoing efforts to provide support in the area of health, Commissioner Kyriakides visited Ukraine to meet Minister of Health Viktor Liashko and pay a visit to a medical centre for children as well as a patient rehabilitation centre. At this occasion, the Commission and the Ukrainian Government have signed an agreement […]
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New EU industrial strategy: the challenges to tackle
MEPs want the EU’s updated industrial strategy to enable European companies to be competitive, clean and resilient, and to also help the shift to a more digital and environmental economy. European enterprises have been hit hard by the Covid-19 pandemic, as many have had to shut or reduce their workforce while finding new ways to work […]
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Antitrust: Commission seeks feedback on commitments offered by Amazon concerning marketplace seller data and access to Buy Box and Prime
The European Commission invites comments on commitments offered by Amazon to address competition concerns over its use of non-public marketplace seller data and over a possible bias in granting sellers access to its Buy Box and its Prime programme. The Commission’s investigations Amazon is a data-driven company whose retail decisions are for most driven by automated systems, […]
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Summer 2022 Economic Forecast: Russia’s war worsens the outlook
Russia’s war of aggression against Ukraine continues to negatively affect the EU economy, setting it on a path of lower growth and higher inflation compared to the Spring Forecast. The Summer 2022 (interim) Economic Forecast projects that the EU economy will grow by 2.7% in 2022 and 1.5% in 2023. Growth in the euro area is expected […]
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EU budget for 2023: Council agrees its position
Ambassadors of member states to the EU agreed the Council’s position on the 2023 EU draft budget. In total, the Council’s position for next year’s budget amounts to € 183.95 billion in commitments and € 165.74 billion in payments. Compared to the budget agreed by the Council and the European Parliament for 2022, this is […]
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