EUbusiness Week 660 top stories: Flagging eurozone recovery turns up heat on ECB to act; US, Europe readying tougher Russia sanctions on Ukraine; EU court backs right to ‘be forgotten’ in Google data case; Iceland postpones plans to drop EU bid; EU proposes complete ban on drift-net fishing; Lithuania bans energy drinks for minors in EU first
Publisher’s Note
Europe’s taxpayers had to fork out huge amounts to prevent a financial collapse from the financial crisis. As a result, the Commission set about a major overhaul of the EU’s financial sector, with 40 or more laws to curb bankers’ bonuses, boost banks’ capital reserves, cast more light on hedge funds and complex trading, and protect consumers.
A first review of the changes shows Europe’s financial markets to be safer, more transparent, and banks managing their risks more responsibly, according to EC president Barroso. And reform is ongoing: still to be adopted are important measures on bank structural reform, shadow banking and financial benchmarks.
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Regards,
Nick Prag
Publisher, EUbusiness
1. Flagging eurozone recovery turns up heat on ECB to act
Despite a strong showing by economic powerhouse Germany, Eurozone growth disappointed in the first quarter, Eurostat said on Thursday — turning up the heat for another cut in European interest rates.
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Portugal economy shrinks ahead of bailout exit
2. US, Europe readying tougher Russia sanctions on Ukraine
Top diplomats are warning that the United States and European partners are ready to impose tougher sanctions against Russia if it seeks to disrupt Ukraine’s presidential elections.
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EU sanctions hit web sensation Crimea prosecutor
3. EU court backs right to ‘be forgotten’ in Google data case
In a surprise ruling on Tuesday, the EU’s top court said individuals have the right to ask US Internet giant Google to delete personal data produced by its ubiquitous search engine.
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Digital companies demand new Google anti-trust probe
4. Iceland postpones plans to drop EU bid
Pressure from pro-EU members of parliament led on Monday to Iceland postponing, for the moment, plans to withdraw its application for European Union membership.
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5. EU proposes complete ban on drift-net fishing
The European Union wants a complete ban by 2015 on drift-net fishing. This is dubbed by environmentalists as ‘walls of death’ for killing other marine animals, especially dolphins.
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6. Lithuania bans energy drinks for minors in EU first
Lithuania on Thursday banned the sale of energy drinks to anyone under 18, citing health concerns, and is now looking to others in the European Union to follow suit.
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EUROPEAN LAW
Spanish aid: the European Union’s highest court on Tuesday slapped a fine of 30 million euros on Spain for failing to recover illegal state aid.
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Greek Supreme Court clears neo-Nazi party for EU vote
Latest Court of Justice judgements
EU Law Firms
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Inside the EU Institutions
Council Watch
Moldova: European Union President Herman Van Rompuy Tuesday invited Moldova to sign a key economic and political deal with the EU on June 27, warning against external pressure on the country in remarks aimed at Moscow.
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Georgia to sign EU association agreement on June 27
Germany’s Kohl says Europe ‘a question of war and peace’
Former Belgian PM Dehaene dead
Council …
Commission Watch
New president: EU heavyweights France and Germany warn it could be weeks after the May 25 elections before a new head to the Commission is chosen by bloc leaders.
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Top five figures in EU elections
Barroso says Moldova agreement no threat to Russia
Commission …
Parliament Watch
Sceptics: two weeks ahead of the Euro-Parliament elections, polls are predicting a eurosceptic surge, packing the assembly with members set to fight the EU from within.
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Dutch populist Wilders still hopes for Farage-Le Pen alliance
Falling poll turnout dents EU democratic credentials
10 key facts on the European Parliament election
Daily snippets from the Euro-elections campaign trail
5,000 Europeans aged 16-30 to exchange ideas on youth-related issues on 11 May, as part of the European Youth Event. They took part in panel discussions on topics such as human rights, youth employment, the digital revolution and sustainability. Their ideas for the future of Europe will be handed to the newly-elected MEPs during the first plenary of July.
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EU diary
17 May, Brussels EU Open Doors day
19 May, Foreign Affairs Council
19-20 May, Agriculture and Fisheries Council
20-21 May, Education, Youth, Culture & Sport Council
22 May, Commission adopts its monthly infringements package
22-25 May, European Elections 2014
The Week Ahead
Long-term diary
Other news on EUbusiness this week
EU warns France on protectionism after Alstom measures 15-May
ECB survey sees eurozone inflation still below target 15-May
Italian economy falls back in blow for Renzi 15-May
Main issues facing the EU after elections 15-May
IT experts urge Estonia to drop Internet voting 13-May
