EUbusiness Week 548 top stories: Greece hails ‘historic’ EU deal, critics warn of cuts; US House targets EU airlines emissions rule; Serbia finds deal with Hungarians over restitution; Canada warns EU to not rank oil sands as dirty energy; Germany warns Facebook over face-recognition app; Health professionals in Romania warn of doctors’ exodus
This Week’s Top Stories
1. Greece hails ‘historic’ EU deal, critics warn of cuts
2. US House targets EU airlines emissions rule
3. Serbia finds deal with Hungarians over restitution
4. Canada warns EU to not rank oil sands as dirty energy
5. Germany warns Facebook over face-recognition app
6. Health professionals in Romania warn of doctors’ exodus
Publisher’s Note
The deal agreed by EU leaders early Thursday morning will slash Greek debt and buy Europe’s economies some time. Banks who have lent to Greece take a 50 per cent hit, several banks are recapitalised, the rescue fund is bolstered by up to one trillion euros, and a new bailout worth up to EUR 100bn replaces the EUR 109bn in aid loans agreed in July.
The package is a boost for the financial system and fiscal consolidation. But it could impact negatively on bank lending to businesses, especially SMEs. Brussels must ensure that access to finance is also boosted, and that policies deliver growth that will create jobs and drive the economic recovery. Only the real economy will get Europe out of the crisis.
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Regards,
Nick Prag
Publisher, EUbusiness
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1. Greece hails ‘historic’ EU deal, critics warn of cuts
Greek authorities on Thursday hailed the EU deal slashing the country’s huge debt as “historic” but critics warned of new sacrifices lying in store under the watchful eye of Brussels.
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Hard-won euro debt deal wins kudos
EU calls for China cash raises political hackles
2. US House targets EU airlines emissions rule
US lawmakers voted overwhelmingly Monday to strike a blow at a controversial European Union plan to require non-EU airlines to buy carbon permits to fly to and out of the bloc.
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3. Serbia finds deal with Hungarians over restitution
Serbia has found a solution in a dispute over a restitution law that was the reason for Hungary’s threat to oppose Belgrade’s EU bid, considering the legislation discriminatory towards Hungarians.
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4. Canada warns EU to not rank oil sands as dirty energy
Canadian Natural Resources Minister Joe Oliver on Monday decried a European Union proposal to rank Canadian oil sands as a more polluting fuel than conventional oil.
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5. Germany warns Facebook over face-recognition app
Facebook has until November 7 to bring its facial recognition software into conformity with privacy laws in Germany and the EU or face legal action.
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6. Health professionals in Romania warn of doctors’ exodus
The Romanian College of Physicians warned Thursday against the local doctors’ exodus to Western Europe, with almost 2,000 departures in 2011.
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EUROPEAN CASE LAW
Tymoshenko: Ukraine’s former prime minister Yulia Tymoshenko on Monday lodged an appeal against her conviction and seven-year jail sentence for abusing her powers in a 2009 gas deal signed with Russia.
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Germany wants EU court to hammer states on budgets
EU prosecutor readies for Kosovo organ harvesting probe
Latest Court of Justice judgements
Official Journal latest issues
EU Law …
Inside the EU Institutions
Council Watch
Italy: Silvio Berlusconi may have temporarily shaken off European pressure to tackle Italy’s economy by proposing fresh reforms but the fragility of his coalition throws doubt on whether they will be implemented.
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Largest ever EU rebellion rocks British PM
EU threatens to slap more sanctions on Syria
EU threatens Iran with new sanctions over nuclear drive
Council …
Commission Watch
Eurozone tsar: the Commission on Thursday appointed finance chief Olli Rehn as its number two, with special responsibility for the euro currency area.
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Commission …
Euro-Parliament Watch
Sakharov prize: five Arab Spring activists won Europe’s prestigious Sakharov rights prize Thursday, starting with the Tunisian fruit seller whose self-immolation sparked the revolutions that toppled dictators.
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At their plenary session this week, Euro-MPs voted for a growth-stimulating budget for 2012; demanded smarter use of antibiotics; and approved a deal on air passenger data transfers to Australia.
Parliament …
EU diary
27-28 Oct,Justice and Home Affairs Council
3-4 Nov, The EU at the G-20 summit
3 Nov, Governing Council of the European Central Bank
7 Nov, Eurogroup
8 Nov, Economic & Financial Affairs Council
The Week Ahead
Long-term diary
RESOURCES
EU Law Firms
Summaries of EU Legislation
EU Decision-Making
Treaties of the European Union
Key EU Legal Terms
Other news on EUbusiness this week
Euro debt crisis envelops US finance house 27-Oct
Greece will become a productive country: Papandreou 27-Oct
EU to give EUR 105m to help save Pompeii 26-Oct
Syria eyes ruble, yuan to head off EU sanctions 25-Oct
