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Recent measures for Banca Carige from a BRRD and State Aid perspective

15-02-2019

On 8 January 2019, Banca Carige’s temporary administrators issued a press statement setting out some initiatives they have taken to secure the future of the bank. This briefing contains background information on the case of Banca Carige and links the initiatives taken to respective legal requirements stemming from the Bank Recovery and Resolution Directive (BRRD) and the rules for State Aid (SA).

On 8 January 2019, Banca Carige’s temporary administrators issued a press statement setting out some initiatives they have taken to secure the future of the bank. This briefing contains background information on the case of Banca Carige and links the initiatives taken to respective legal requirements stemming from the Bank Recovery and Resolution Directive (BRRD) and the rules for State Aid (SA).

Mis-selling of Financial Products: Compensation of Investors in Belgium

13-06-2018

This paper is part of a series of five studies on mis-selling of financial products in the EU. The paper analyses three important and highly publicised cases of mis-selling of investment products to retail clients, featuring interesting legal particularities: the Citibank case, the Dexia case and the Fortis case. On the basis of this analysis, the paper draws a number of conclusions on the national and EU regulatory framework in respect of investor compensation. This document was provided by Policy ...

This paper is part of a series of five studies on mis-selling of financial products in the EU. The paper analyses three important and highly publicised cases of mis-selling of investment products to retail clients, featuring interesting legal particularities: the Citibank case, the Dexia case and the Fortis case. On the basis of this analysis, the paper draws a number of conclusions on the national and EU regulatory framework in respect of investor compensation. This document was provided by Policy Department A at the request of the ECON Committee.

State Aid and EU funding: are they compatible?

16-04-2018

State aid involves the transfer of state resources. These are resources which are controlled by public authorities. EU funds which are granted directly to undertakings without coming under the control of a public authority of a Member State cannot be considered to be state resources. However, EU funds channelled through managing authorities become state resources and can constitute state aid if all the other criteria of Article 107(1) TFEU are satisfied.

State aid involves the transfer of state resources. These are resources which are controlled by public authorities. EU funds which are granted directly to undertakings without coming under the control of a public authority of a Member State cannot be considered to be state resources. However, EU funds channelled through managing authorities become state resources and can constitute state aid if all the other criteria of Article 107(1) TFEU are satisfied.

Autor extern

Professor Phedon Nicolaides

Competition in Air Transport

16-04-2018

Competition in the aviation sector pertains to different sets of rules, competition law on the one hand and, given the cross-border interdependencies of transport markets, international rules on the other hand. The workshop aimed to examine the current situation of competition in air transport using the proposed regulation on Safeguarding competition in air transport, repealing Regulation (EC) No 868/2004 as a practical example and starting point for the discussion. The Committee on Economic and ...

Competition in the aviation sector pertains to different sets of rules, competition law on the one hand and, given the cross-border interdependencies of transport markets, international rules on the other hand. The workshop aimed to examine the current situation of competition in air transport using the proposed regulation on Safeguarding competition in air transport, repealing Regulation (EC) No 868/2004 as a practical example and starting point for the discussion. The Committee on Economic and Monetary Affairs (ECON) has prepared a legislative opinion to this dossier. This Workshop was prepared by Policy Department A at the request of the Committee on Economic and Monetary Affairs (ECON).

Autor extern

Kay MITUSCH, Universit Karlsruhe, Pablo MENDES DE LEON, University Leiden and Internationa Civil Aviation Organization (ICAO)

Interim evaluation of Horizon 2020

21-03-2018

As required by the regulation, the interim evaluation of Horizon 2020 – the European Union (EU) framework programme (FP) for research and innovation – began in October 2016 with a public consultation to gather feedback from stakeholders three years in. The Commission performed its own mid-term evaluation and asked experts to evaluate the programme's specific instruments. In parallel, the European Parliament, the Council of the EU and the advisory committees conducted their own, separate evaluations ...

As required by the regulation, the interim evaluation of Horizon 2020 – the European Union (EU) framework programme (FP) for research and innovation – began in October 2016 with a public consultation to gather feedback from stakeholders three years in. The Commission performed its own mid-term evaluation and asked experts to evaluate the programme's specific instruments. In parallel, the European Parliament, the Council of the EU and the advisory committees conducted their own, separate evaluations of the programme. The Commission adopted its conclusions on the interim evaluation of Horizon 2020 in January 2018, confirming that the programme was relevant and presented clear EU added value. Implementation was considered to be efficient and the first results suggested that the programme was also effective in reaching its objectives. The integration of research and innovation and the Horizon 2020 pillar structure provided for greater internal coherence compared with previous framework programmes. All the evaluations highlighted four key issues to be addressed by the next FP. First, the programme budget needs to match better the funding required to bring the success rate back to acceptable levels. Second, the unbalanced distribution of FP funding across the EU raises concerns regarding the impact of the use of the excellence criterion and calls for changes to enable the various EU funds to generate more synergistic effects so as to maintain EU competitiveness and promote EU cohesion in research and innovation. Third, the evaluations highlight the will to improve the shared, multi-level governance between the EU, Member States and regions and to promote the co-design and co-construction of the FP with the public and civil society. Finally, there is widespread agreement that the EU research and innovation funding landscape has become too complex and should be streamlined, questioning the EU added value of each of the instruments and partnerships.

Research for REGI Committee - State aid and Cohesion Policy

05-03-2018

European Union funding co-managed by Member State authorities is considered to be a state resource that may only be granted in conformity with the rules on state aid. Compliance with both state aid and Structural Funds’ rules appears to be problematic, hence this study identifies the relevant issues in the interface between these two sets of rules and makes proposals to facilitate compliance.

European Union funding co-managed by Member State authorities is considered to be a state resource that may only be granted in conformity with the rules on state aid. Compliance with both state aid and Structural Funds’ rules appears to be problematic, hence this study identifies the relevant issues in the interface between these two sets of rules and makes proposals to facilitate compliance.

Autor extern

Professor Phedon Nicolaides PN Advisory Services Eijsderbosch 15 6228 SE Maastricht The Netherlands

COMPETITION POLICY AND AN INTERNAL ENERGY MARKET

15-12-2017

This note, prepared by Policy Department A for the Committee on Economic and Monetary Affairs, summarises the main points presented by the study on Competition policy and an internal energy market with a view to achieve an effectively working internal market in this sector.

This note, prepared by Policy Department A for the Committee on Economic and Monetary Affairs, summarises the main points presented by the study on Competition policy and an internal energy market with a view to achieve an effectively working internal market in this sector.

Precautionary recapitalisations: time for a review

29-08-2017

This note provides a summary of 4 expert papers assessing the role of precautionary recapitalisation in the Banking Union.

This note provides a summary of 4 expert papers assessing the role of precautionary recapitalisation in the Banking Union.

EU sustainability criteria for bioenergy

29-08-2017

Bioenergy, which is generally produced from plants such as agricultural crops or trees, comes in various forms. Wood and other solid biomass are commonly used for heating and electricity generation. Liquid biofuels for transport and other purposes are mainly made from food and feed crops, but can also be produced from waste and residues. Bioenergy can also be delivered in the form of gas. Bioenergy is a renewable but finite energy source, and considered as climate-friendly because the carbon which ...

Bioenergy, which is generally produced from plants such as agricultural crops or trees, comes in various forms. Wood and other solid biomass are commonly used for heating and electricity generation. Liquid biofuels for transport and other purposes are mainly made from food and feed crops, but can also be produced from waste and residues. Bioenergy can also be delivered in the form of gas. Bioenergy is a renewable but finite energy source, and considered as climate-friendly because the carbon which is emitted during combustion was removed from the atmosphere during growth of the biomass and will be removed again after some time if new plants are grown. However, its production and use has environmental impacts and the climate benefits may vary. The existing Renewable Energy Directive sets mandatory sustainability and greenhouse gas saving criteria for biofuels. For forest biomass, the Commission issued recommendations, but these are not uniformly implemented in the Member States. In November 2016, the Commission proposed a revised Renewable Energy Directive which includes mandatory sustainability criteria for both biofuels and biomass. The European Parliament supports sustainability criteria for bioenergy, and highlighted the sustainability issues of forest biomass in its June 2016 resolution on renewable energy. Stakeholder reactions to the Commission proposal have been mixed. While environmental NGOs called for stricter criteria, the bioenergy industries warned that tighter limits on conventional biofuels hinder the decarbonisation of the transport sector. Farmers and forest owners expressed concern about additional economic and administrative burden and stressed the principle of subsidiarity in forest policies.

Recapitalisation of Monte dei Paschi di Siena: state of play

06-07-2017

Banca Monte dei Paschi di Siena S.p.A. (MPS) is the fifth largest bank in Italy, holding total assets of around EUR 153 billion as of 31 December 2016 (against EUR 214 billion at the end of 2008). This briefing is based on publicly available information and provides an overview of the latest developments.

Banca Monte dei Paschi di Siena S.p.A. (MPS) is the fifth largest bank in Italy, holding total assets of around EUR 153 billion as of 31 December 2016 (against EUR 214 billion at the end of 2008). This briefing is based on publicly available information and provides an overview of the latest developments.

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Joint LIBE - FEMM Hearing on Trafficking in human beings
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