Trade is holy growth grail – EUbusiness Week newsletter 604 – EUbusiness.com

EUbusiness Week 604 top stories: EU leaders inch toward first EU budget cut; EU steps up measures against money laundering; Eurozone inflation nears ECB target, jobless steady; EU maps out new cyber-security plan; Iceland cuts mackerel quota but fails to meet EU demands; Work begins on Pompeii’s EUR 105 m makeover

This Week’s Top Stories

1. EU leaders inch toward first EU budget cut
2. EU steps up measures against money laundering
3. Eurozone inflation nears ECB target, jobless steady
4. EU maps out new cyber-security plan
5. Iceland cuts mackerel quota but fails to meet EU demands
6. Work begins on Pompeii’s EUR 105 m makeover

Publisher’s Note

With public spending being cut by Member States as well as the EU, bilateral Free Trade Agreements (FTAs) are seen as Europe’s best way to kickstart growth and employment, through new deals with the United States and Japan.

Europe has to fight ever harder for its share of world trade. But “an ambitious trade agenda” could lead to an increase of two per cent in growth and the creation of over two million jobs, says EC head Jose Manuel Barroso.

An FTA with South Korea is seen as the template for talks with Singapore, Canada, India, Japan … and the main prize of the U.S. Though hopes for a deal with Washington to be announced at the next EU summit in March may be optimistic.
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Regards,

Nick Prag
Publisher, EUbusiness

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1. EU leaders inch toward first EU budget cut

EU leaders appeared poised Friday to cut the bloc’s budget for the first time in its six-decade history, with a tentative agreement to trim spending by three percent over the rest of the decade.
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Facts and figures on the EU’s 2014-20 budget
EU budget, commitments, payments and the details

2. EU steps up measures against money laundering

The Commission said Tuesday it needs to step up the fight against money laundering as criminals and terrorists constantly find new ways around existing regulations.
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3. Eurozone inflation nears ECB target, jobless steady

The eurozone crowned a week of steadily improving economic data with inflation almost down to the European Central Bank’s medium-term target, falling to 2.0 per cent in January after overshooting for more than two years.
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4. EU maps out new cyber-security plan

The Commission has launched a new cyber-security plan, aimed at safeguarding vital information systems and bolstering the bloc’s defences against a growing criminal threat.
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5. Iceland cuts mackerel quota but fails to meet EU demands

Icelandic officials say the country will cut its mackerel fishing quota by 15 per cent, but the EU nonetheless criticised the decision, saying the amount of fish to be taken remained “excessively high”.
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6. Work begins on Pompeii’s EUR 105 m makeover

Conservation workers at the long-neglected Roman city of Pompeii began a 105-million euro makeover partly funded by the EU on Wednesday, a day after former site managers were put under investigation for corruption.
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EUROPEAN LAW

Iceland: Iceland celebrated a major victory in its four-year battle with Britain and the Netherlands over failed bank Icesave when a European court vindicated its stance that taxpayers don’t have to pay for bankers’ mistakes.
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Latest Court of Justice judgements
EU Law Firms
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Inside the EU Institutions

Council Watch

Zimbabwe: global rights monitor Human Rights Watch urges the EU to insist on tangible human rights reforms and free and fair elections as a precondition for lifting targeted sanctions on Zimbabwe.
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Damaged by scandal, Spain PM holds on
Italian front-runner vows to continue Monti reforms
Council …

Commission Watch

Kosovo: the presidents of Serbia and Kosovo met for the first time Wednesday in talks mediated by the EU to defuse tension in one of the continent’s last simmering hot-spots.
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Barroso reminds Romania of democratic shortcomings
Commission …

Parliament Watch

Laos: the European Parliament announced Thursday its “strong concern” for a prominent Laos activist missing since December, calling on the government to speed up its investigation into the disappearance.
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In plenary this week, MEPs said if American wines were to be sold under the “Château” labels in the EU, then they must meet EU quality standards; and gave their go-ahead for EU accession talks with Serbia to start before June 2013.
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EU diary

7-8 Feb, European Council
12 Feb, Economic and Financial Affairs Council
15 Feb, Education, Youth, Culture & Sport Council
18 Feb, Foreign Affairs Council
18-19 Feb, Competitiveness Council
22 Feb, Transport, Telecommunications & Energy Council
The Week Ahead
Long-term diary