The European Union (EU) has faced a series of unprecedented and unexpected challenges since the adoption of the Multiannual Financial Framework (MFF) in 2020. Barely out of one of the deepest global economic crises in more than a century, Russia’s brutal invasion of Ukraine had huge humanitarian, economic and budgetary consequences. Migration has picked up […]
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The European Commission has presented its proposal for the next generation of own resources
As committed during the negotiations on the long-term EU budget 2021-2027, the European Commission has completed its proposal for a next generation of own resources. This package includes a new temporary statistical own resource based on company profits. Following the political agreement on the Fit For 55 package, which seeks to ensure EU policies contribute […]
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An EU approach to enhance economic security
The European Commission and the High Representative published a Joint Communication on a European Economic Security Strategy. This Joint Communication focuses on minimising risks arising from certain economic flows in the context of increased geopolitical tensions and accelerated technological shifts, while preserving maximum levels of economic openness and dynamism. The proposed strategy sets out a […]
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According to the European Court of Auditors, Europe is in danger of losing the battery race
The EU risks falling behind in its bid to become a global battery powerhouse, according to a report published by the European Court of Auditors. It is true that the EU’s industrial policy on batteries has been promoted effectively in recent years. But access to raw materials remains a major roadblock, along with rising costs and […]
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Council reaches agreement on parts of electricity market reform
The Council has agreed its stance (general approach) on a proposal for regulation on wholesale energy market integrity and transparency (REMIT). The proposal aims to support an open and fair competition in the European wholesale energy markets, by banning trading based on inside information and deterring market manipulation. The proposal on REMIT is part […]
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EIB and Grupo Cajamar will direct €980 million in new financing to SMEs and mid-caps in rural areas and to green projects
The European Investment Bank (EIB) and Grupo Cooperativo Cajamar have signed a purchase agreement of a €350 million covered bond issue. The transaction enables the cooperative bank Cajamar to make up to €784 million in financing available to support investment in projects of small and medium-sized enterprises (SMEs) and mid-caps, especially those operating in rural […]
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European Commission approves €680M in aid for the deployment of 5G mobile networks in Spanish rural areas
The European Commission has approved, under EU State aid rules, a €680 million Spanish scheme made available through the Recovery and Resilience Facility (‘RRF’) to roll out equipment and infrastructure for high-performing 5G standalone networks in underserved rural areas. The measure is part of Spain’s strategy to address the needs of citizens and businesses in […]
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Spain submits a petition to revise the recovery and resilience plan and include a REPowerEU chapter
On June 6, Spain submitted a request to the Commission to amend its recovery and resilience plan, to which it wishes to add a REPowerEU chapter. The general amendments proposed by Spain would add 18 reforms and 25 new or expanded investments, and would involve more than €95 billion of additional RRM funding. The proposed […]
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June 8 – World Oceans Day
June 8 marks World Oceans Day, a date established by the UN to recognize the importance of the oceans to the planet. The ocean covers more than 70% of the planet. It is our source of life and sustenance for humanity and all other organisms on earth. To commemorate this day. The CDE of Almeria […]
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