Emissions trading concerns – EUbusiness Week newsletter 623 – EUbusiness.com

EUbusiness Week 623 top stories: Eurozone finance ministers agree ESM direct bank funding; EU, US launch talks on vast free trade deal; Eurozone consumer confidence and business figures improve; EU probes SAS airline over state aid; France gives Google 3-month deadline over privacy policy; Children falling victim to EU economic crisis

This Week’s Top Stories

1. Eurozone finance ministers agree ESM direct bank funding
2. EU, US launch talks on vast free trade deal
3. Eurozone consumer confidence and business figures improve
4. EU probes SAS airline over state aid
5. France gives Google 3-month deadline over privacy policy
6. Children falling victim to EU economic crisis

Publisher’s Note

The European Parliament’s environment committee has not pleased too many with its endorsement of a plan to patch up the Emissions Trading System (ETS). Oversupply and a slowing economy led to a surplus of emission allowances and a fall in the carbon price well below original estimates for the ETS.

Eurochambres believes the proposal could fuel more increases in energy prices. Greenpeace says the short-term relief would act as “a fundraiser for polluting industries”. Certainly the ETS’ goal of supporting innovation to tackle climate change looks no closer. Final rejection of the backloading proposal by MEPs in their next plenary session is on the cards.
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Regards,

Nick Prag
Publisher, EUbusiness

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1. Eurozone finance ministers agree ESM direct bank funding

Eurozone finance ministers agreed Thursday how the single currency’s rescue fund, the European Stability Mechanism, will be able to inject funds directly into failing banks so as to minimise the risk posed to the financial system.
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Switzerland wants OECD-wide deal on tax information

2. EU, US launch talks on vast free trade deal

The European Union and the United States on Monday launched long-awaited formal negotiations to create what would be the world’s biggest ever free trade area.
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EU-US trade talks won’t exclude film, culture: US envoy

3. Eurozone consumer confidence and business figures improve

Eurozone consumer confidence improved sharply in June while the slump in private sector business activity eased further, according to surveys that analysts said were further signs the recession may be nearing an end.
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Strong trade data offers EU light at end of the tunnel

4. EU probes SAS airline over state aid

In its June infringements package, the Commission opened an in-depth probe to see if state aid given to Scandinavian Airlines (SAS) by Sweden and Denmark conformed to EU rules.
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EU raids rail cargo companies

5. France gives Google 3-month deadline over privacy policy

In a move it hopes will be followed by other Member States, France has threatened Google with a fine of up to EUR 150,000 if it does not bring its privacy procedures into line with French law on data protection within three months.
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6. Children falling victim to EU economic crisis

Children in the European Union are increasingly falling victim to the economic crisis, the EU’s rights agency has warned, citing the case of Greece where school-children were suffering from hunger.
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EUROPEAN LAW

Eurotunnel: the Union has told Britain and France to act to bring down charges for trains running through the under-sea Channel tunnel, or face being brought before the European court.
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Latest Court of Justice judgements
EU Law Firms
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Inside the EU Institutions

Council Watch

Turkey: Ankara has criticised Berlin over a reluctance to open a new chapter that could further its bid to join the EU, shrugging it off as Chancellor Merkel’s “election campaign”.
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EU conservatives want focus on youth unemployment
EU still deadlocked on blacklisting Hezbollah
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Commission Watch

French exception: Commissioner Michel Barnier hit back at the Commission president on Tuesday for describing French defence of Europe’s film and TV industries as “reactionary”.
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EU’s billion-euro aid to Egypt ‘ineffective’
Historic Kosovo-Serbia deal makes little headway
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Parliament Watch

Budget: after months of tough negotiations, Commission, Member States and Parliament thrashed out a possible compromise on the trillion-euro budget Wednesday to cover EU spending over the next seven years.
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Parliament committee postpones Turkey visit
EP committee greenlights lifting of Le Pen’s immunity
This week, MEPs agreed with Council a deal on clearer EU-wide rules on access to a lawyer; while in committee, MEPs sought to strengthen protection of workers posted abroad; called for mandatory targets for advanced biofuels; and said the US PRISM internet surveillance case highlighted the urgent need to pass legislation to protect EU citizens’ personal data.
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EU diary

21 Jun, Economic and Financial Affairs Council
24 Jun, Foreign Affairs Council
24-25 Jun, Agriculture and Fisheries Council
24-28 Jun, EU Sustainable Energy Week 2013
26 Jun, National Roma integration strategies report
26 Jun, Commission proposes new long term investment framework
27-28 Jun, European Council
The Week Ahead
Long-term diary