Eurozone agrees Greece rescue – EUbusiness Week newsletter 540 – EUbusiness.com

EUbusiness Week 540 top stories: Eurozone agrees EUR 159bn Greece rescue; EU seeks to tighten banking rules; EU urges Bulgaria to step up fight against corruption; EU divided over fishing reform plan; EU tightens nuclear waste disposal rules; China scores broad win in WTO fastener appeal against EU

This Week’s Top Stories

1. Eurozone agrees EUR 159bn Greece rescue
2. EU seeks to tighten banking rules
3. EU urges Bulgaria to step up fight against corruption
4. EU divided over fishing reform plan
5. EU tightens nuclear waste disposal rules
6. China scores broad win in WTO fastener appeal against EU

Publisher’s Note

As EU leaders battled the euro crisis, the European Commission did its bit for growth and jobs this week by announcing funding of EUR 7bn to kickstart innovation through research. The EC’s biggest ever funding package is aimed at creating around 174,000 jobs in the short term, and 450,000 jobs and nearly EUR 80bn in GDP growth within the next 15 years.
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Summer service: EUbusiness will operate its usual reduced service over the summer. Newswires start again in September. Meanwhile, you can keep up-to-date with our latest news by subscribing to our RSS news feed at
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Regards,

Nick Prag
Publisher, EUbusiness

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1. Eurozone agrees EUR 159bn Greece rescue

Eurozone leaders agreed Thursday, alongside the private sector, to pour another 159 billion euros into Greece to stop debt contagion across Europe, even at the risk of triggering a dramatic default.
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Banks offer Greece EUR 135bn rollover plan

2. EU seeks to tighten banking rules

The Commission unveiled new banking rules Wednesday that would force banks to raise more capital and threaten sanctions to prevent risks that could trigger a new financial crisis.
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Eight European banks fail EU stress tests

3. EU urges Bulgaria to step up fight against corruption

Bulgaria needs to take urgent action to improve the battle against corruption and organised crime, while Romania has made progress in those areas, the Commission says in a report.
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4. EU divided over fishing reform plan

Major European fishing states voiced deep reservations Tuesday over a controversial Commission proposal to reform the sector in a bid to replenish fish stocks within four years.
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5. EU tightens nuclear waste disposal rules

The Union has tightened rules on the disposal of radioactive waste with strict conditions on exporting it outside EU borders, but the move has not pleased environmentalists.
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6. China scores broad win in WTO fastener appeal against EU

China has scored a broad victory at the WTO in its appeal against Brussels over EU anti-dumping measures imposed on imports of Chinese metal fasteners such as nuts and bolts.
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EUROPEAN CASE LAW

Romania: Romanian President Traian Basescu has accepted a Commission report on the country’s judiciary, saying it showed the system’s progress as well as its shortcomings.
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Take us to court, Danish minister tells EU over border row
EU-wide domestic violence rules possible this year: Poland
Latest Court of Justice judgements
Official Journal latest issues
EU Law …

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Inside the EU Institutions

Council Watch

Syria: a clutch of EU foreign ministers called for change in Syria on Monday, with Britain’s chief diplomat telling President Bashar al-Assad that he must reform or stand down.
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Britain vetos EU military HQ plans
Erdogan threatens freeze with EU during Cypriot presidency
EU hails Hadzic arrest as key step in Serbia’s EU bid
Council …

Commission Watch

Denmark borders: the Commission warned on Monday that Denmark has failed to justify a controversial decision to increase controls at its borders with Germany and Sweden.
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EU resumes aid to Niger
Commission …

Euro-Parliament Watch

Euro stability agency: Greek Prime Minister George Papandreou joined Saturday fellow European socialists in a call for a dedicated agency to stabilise euro debt and for limiting the power of credit rating agencies.
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This week a delegation from the European Parliament visited South Sudan to assess the humanitarian situation; and an EP delegation to Tunisia called for rapid action to help in the resettlement of refugees from war-torn countries who are in camps in the Tunisian-Libyan border.
Parliament …

EU diary

21 Jul, Meeting of eurozone Heads of State or Government
22 Jul, Economic & Financial Affairs Council (budget)
4 Aug, Governing Council of the European Central Bank
The Week Ahead
Long-term diary