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 […]
Iran’s drones and missiles: EU adopts further sanctions
The Council adopted restrictive measures against six individuals and three entities for their role in the transfer of unmanned aerial vehicles (UAVs) to Russia in support of its war of aggression against Ukraine;the transfer of UAVs or missiles to armed groups and entities undermining peace and security in the Middle East and the Red Sea region; or for […]
European Commission designates Temu as Very Large Online Platform under the Digital Services Act
The Commission has formally designated Temu as a Very Large Online Platform (VLOP) under the Digital Services Act (DSA). Temu is an online marketplace with an average of more than 45 million monthly users in the European Union. This user number, which Temu has communicated to the Commission, is above the DSA threshold for designation as a […]
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 […]
CJEU Judgment: The order button or a similar function must clearly indicate that the consumer is subject to a payment obligation by clicking on it
This applies even where the obligation to pay is also dependent on the satisfaction of a subsequent condition. In Germany, the tenant of an apartment – the monthly rent of which was higher than the maximum ceiling permitted under national law – asked a debt recovery undertaking to request his landlords to repay rent overpayments. […]
EU withdraws from the Energy Charter Treaty
The European Union and Euratom will leave the Energy Charter Treaty, while member states will be allowed to support its modernisation during the next Energy Charter Conference. The decisions are linked as they form the two pillars of a political compromise known as the Belgian roadmap on the Energy Charter Treaty. The formal adoption by the […]
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 […]
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 […]
Commission establishes AI Office to strengthen EU leadership in safe and trustworthy Artificial Intelligence
The Commission has unveiled the AI Office, established within the Commission. The AI Office aims at enabling the future development, deployment and use of AI in a way that fosters societal and economic benefits and innovation, while mitigating risks. The Office will play a key role in the implementation of the AI Act, especially in relation […]