Project bonds pilot agreed – EUbusiness Week newsletter 575 – EUbusiness.com

EUbusiness Week 575 top stories: Eurozone strains intensify as ‘massive shock’ looms; European Parliament approves contested financial tax; EU gives Google ‘weeks’ to satisfy competition concerns; EU mulls wine label allergen alerts; Latvia launches veggie offensive against Brussels; Doctors group warns EU health care access shrinking

This Week’s Top Stories

1. Eurozone strains intensify as ‘massive shock’ looms
2. European Parliament approves contested financial tax
3. EU gives Google ‘weeks’ to satisfy competition concerns
4. EU mulls wine label allergen alerts
5. Latvia launches veggie offensive against Brussels
6. Doctors group warns EU health care access shrinking

Publisher’s Note

While the talk at this week’s summit was of eurobonds, MEPs on Tuesday secured a deal for a pilot scheme on ‘project bonds’, designed to attract private investment in transport, energy and information technology network projects.

EUR 230m in EU and EIB support guarantees should make the bonds safer and more attractive to capital market investors. The pilot will test how markets perceive the initiative and the experience of the next 18 months will fine-tune it.

In the current climate of declining investment, many will welcome any new way to boost investment for growth. Indeed this new scheme could play a key role in the growth strategy now being called for by many Member States.
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Regards,

Nick Prag
Publisher, EUbusiness

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1. Eurozone strains intensify as ‘massive shock’ looms

Eurozone tensions rose Thursday after grim news on the economic outlook and as investors sought safety in Germany on growing doubts over Greece’s future in the eurozone.
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Eurozone suffers worst PMI downturn in 3 years

2. European Parliament approves contested financial tax

The European Parliament has adopted by a strong majority proposals on a French-inspired financial transaction tax which has been bitterly opposed by Britain.
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3. EU gives Google ‘weeks’ to satisfy competition concerns

EU anti-trust chiefs have asked Google to quickly offer “remedies” to satisfy Brussels’ concerns the Internet search king has abused its dominant market position — or face heavy penalties.
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4. EU mulls wine label allergen alerts

European winegrowers may soon be required to state on labels if the wine contains potentially allergenic traces of egg or milk, a Commission source said on Thursday.
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5. Latvia launches veggie offensive against Brussels

Latvian authorities have sprouted a green-thumb planting vegetables in flower beds outside government offices in Riga as part of a push for higher EU direct farm subsidies.
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6. Doctors group warns EU health care access shrinking

Access to health care is declining in Europe, and Greece in particular faces a humanitarian crisis as it cuts health and social spending, warns aid group Doctors of the World.
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EUROPEAN LAW

Tymoshenko: improved ties between the EU and Ukraine depend on the country reforming its justice system, the EU said Tuesday as European officials suggested an observer attend ex-premier Yulia Tymoshenko’s appeal trial.
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Latest Court of Justice judgements
EU Law Firms
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Inside the EU Institutions

Council Watch

Greece: Greeks will not only be electing lawmakers in elections next month but voting on whether their country stays in the eurozone, says German Finance Minister Wolfgang Schaeuble.
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G8 paper over tensions, back Greece in euro
Romania PM to ask parliament to decide on EU summit reps
Council …

Commission Watch

Serbia: EU leaders said Monday Serbia’s voters had given “a very clear signal’ of support to the country’s drive to join the bloc and urged nationalist president-elect Tomislav Nikolic to pursue that path.
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Romania expects freeze of EU aid payments
EU says Iceland’s membership talks progressing well
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Euro-Parliament Watch

Greece: Greeks “suffering” from two years of austerity cuts must meet reform pledges in order to keep receiving EU-IMF loans, says Parliament president Martin Schulz.
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In plenary this week, MEPs urged the Commission to improve existing legislation to close the gender pay gap, including stricter sanctions on employers; said the EU must make better use of resources for the sake of its future economic growth and the environment; and called on Switzerland to cancel “discriminatory” quotas on Eastern Europeans.
Parliament …

EU diary

28-30 May, ACP-EU joint parliamentary assembly
30-31 May, Competitiveness Council
31 May, Foreign Affairs (Trade) Council
31 May, Commission monthly infringements package
2 Jun, Meeting of Ministers of Agriculture (informal)
4 Jun, EU-Russia summit
The Week Ahead
Long-term diary