The European Commission has launched the Semiconductor Alert System, a new pilot system to monitor the semiconductor supply chain. The pilot allows stakeholders to raise awareness on any critical disruption along the semiconductors’ value chain and helps the Commission to gather information needed to establish a precise assessment of risks and to quickly react to any potential crisis situation via the European […]
Read MoreThe General Court of the European Union annuls Germany’s €6 billion bailout of Lufthansa
The Commission committed several errors, in particular, by considering that Lufthansa was unable to obtain financing on the markets for the entirety of its needs, by failing to require a mechanism incentivising Lufthansa to buy back Germany’s shareholding as quickly as possible, by denying that Lufthansa held significant market power at certain airports, and by […]
Read MoreEuropean Commission raises EUR 9 billion in new issue for recovery fund and Ukraine
The sixth syndicated transaction for 2023 by the European Commission, which issues EU-Bonds on behalf of the EU, raised €9 billion today in a dual-tranche deal. Two tranches were included in it: a new 3-year line with a due date of October 5, 2026, for which €5 billion were issued, and a tap of a […]
Read MoreThe European Parliament calls for better controls on the implementation of recovery funds, citing the case of Spain
On Wednesday, the European Parliament approved the implementation of the EU’s 2021 budget for most of the EU institutions, except the European Council. Most of the EU’s expenditure is managed by the European Commission, whose budgetary performance was approved by the European Parliament with 421 votes in favour, 151 against and 5 abstentions. In 2021, […]
Read MoreDiversity in senior management improves banks
Still, banking is a man’s world. The ECB has noted that more than 300 of the 361 CEO appointments at the significant institutions (SIs) directly under its supervision as well as at their subsidiaries between 2020 and 2022 were men. Additionally, just 36% of newly appointed board members in SIs were women during the same […]
Read MoreThe European Commission authorizes the acquisition of GACM Spain by AXA Spain
The European Commission has approved under the EU Merger Regulation the acquisition of GACM España, S.A.U. (“GACM España”) by AXA Seguros Generales, S.A. de Seguros y Reaseguros (“AXA Seguros Generales”), both of Spain. The two companies offer insurance products throughout Spain, as well as hospital services in Barcelona and Cantabria. The Commission concluded that the […]
Read MoreEU agricultural trade to reach €424.7 billion in 2022
In 2022, the value of trade (imports plus exports) of agricultural products between the EU and the rest of the world reached €424.7 billion, €77.5 billion more than in 2021 (€347.2 billion). The EU exported €229.1 billion worth of agricultural products and imported €195.6 billion, generating a surplus of €33.5 billion. Between 2002 and 2022, EU trade in agricultural products […]
Read MoreECB raises interest rates by a quarter of a percentage point
The inflation outlook continues to be too high for too long. In light of the ongoing high inflation pressures, the Governing Council decided to raise the three key ECB interest rates by 25 basis points. Overall, the incoming information broadly supports the assessment of the medium-term inflation outlook that the Governing Council formed at its […]
Read MoreCouncil and European Parliament agree to protect geographical indications for artisanal and industrial products
The Council and the European Parliament reached today a provisional deal on the regulation for geographical indication protection for craft and industrial products. Once this regulation is finally approved, geographical indications (GIs), which up to now were used mainly for foods and beverages, will be enlarged to industrial products whose qualities are essentially linked to the […]
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