EUbusiness Week 647 top stories: Euro-MPs defy leaders over new bank regulator; EU, Google reach deal on competition remedies; ‘Breathtaking’ EU corruption costs EUR 120 bn a year; EU set to OK new GM corn after Germany drops objection; Immigration vote tests Swiss ties with EU; Turkey Internet law raises ‘serious concerns’
Publisher’s Note
Next Tuesday is European 112 Day, yet few people travelling in Europe know about a number that could save lives in an emergency.
The Europe-wide emergency phone number has been in operation since 1991, but its functioning clearly needs improvement. Only one in four people are aware of it, says EENA, the European Emergency Number Association, while the European Commission has not yet implemented obligations on mobile operators to provide accurate caller location information to the emergency services. Improved accuracy, says EENA, would also save EUR 4 bn a year. Hopefully 112 Day will be successful in its worthy objectives.
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Regards,
Nick Prag
Publisher, EUbusiness
1. Euro-MPs defy leaders over new bank regulator
MEPs defied EU leaders on Thursday, insisting their bank regulatory system meant to prevent a repetition of the economic crisis is fatally flawed and unworkable.
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EU banks to face stress test in May
2. EU, Google reach deal on competition remedies
The EU and Google agreed Wednesday on how to settle complaints the US Internet giant is squeezing competitors in Europe’s search market, avoiding legal action and billions in fines.
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French to make EUR 1 bn tax claim against Google: report
3. ‘Breathtaking’ EU corruption costs EUR 120 bn a year
Corruption across the EU’s 28 countries costs about EUR 120 billion per year — a “breathtaking” sum equal to the EU’s entire annual budget, Home Affairs Commissioner Cecilia Malmstroem said on Monday.
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4. EU set to OK new GM corn after Germany drops objection
A new genetically modified crop, US firm Pioneer’s TC1507 corn, is set for approval in Europe next week after Germany dropped its objections, acccording to several EU sources.
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5. Immigration vote tests Swiss ties with EU
Switzerland’s ties with the European Union face a crunch test Sunday as voters decide whether to revive immigration quotas on EU citizens, in a referendum piloted by rightwing populists.
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6. Turkey Internet law raises ‘serious concerns’
Turkey’s new Internet law raises “serious concerns” over government control and the public’s access to information, the Commission said on Thursday.
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EUROPEAN LAW
Market fraud: financial fraudsters who commit serious crimes such as rigging interest rates could face a minimum of four years in prison, under a Parliament vote to restore confidence.
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Latest Court of Justice judgements
EU Law Firms
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Inside the EU Institutions
Council Watch
Ukraine: embattled president Viktor Yanukovych flew to Sochi late Thursday for crisis talks with Russia’s Vladimir Putin on the sidelines of the opening ceremony for the Winter Olympics.
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Top US diplomat for Europe says sorry for cursing the EU
Italian minister defends German role in euro crisis
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Commission Watch
Corruption: the Union’s own institutions should be probed for corruption, the EU Ombudsman said, a day after Commissioner Malmstroem described the EU’s graft problem as “breathtaking”.
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Commissioner Fuele to return to Ukraine next week
Snowden, Ashton, Kosovo and Serb PMs proposed for Nobel
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Parliament Watch
Ukraine: Euro-MPs called Thursday for targeted EU sanctions against the Ukraine government and those implicated in violence against pro-EU demonstrators.
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MEPs urge EU to fight homophobia
EP approves Lautenschlaeger and Nouy at eurozone bank watchdog
In plenary this week, MEPs called for binding 2030 goals for CO2 emissions, renewables and energy efficiency; approved an extra six months for eurozone banks and businesses to comply with new standards for two of the most common ways of sending euros to another account in Europe; and called for a beefing up of ‘country of origin’ labelling rules for pigs and poultry.
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EU diary
10 Feb, Foreign Affairs Council
10 Feb, Beyond the crisis? Business in Europe 2014
11-12 Feb, EU-ASEAN Aviation Summit
11 Feb, European Competition Forum 2014
12 Feb, Conference on EU Strategy for the welfare of animals 2012-2015
The Week Ahead
Long-term diary
Other news on EUbusiness this week
Eurozone bank audit weighing on lending: ECB chief 6-Feb
No deflation in eurozone: Draghi 6-Feb
Eurozone business activity best since June 2011 6-Feb
Europe violating rights of transgender people: Amnesty 4-Feb
EU probes Cyprus Airways, Estonia Air state aid 4-Feb
