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Europe Daily Bulletin No. 13232

29 July 2023
Contents Publication in full By article 12 / 27
ECONOMY - FINANCE - BUSINESS / Banks
Europe’s banking sector can withstand macroeconomic shocks, says European Banking Authority
Brussels, 28/07/2023 (Agence Europe)

The results of the stress tests published by the European Banking Authority (EBA) on Friday 28 July show that the European Union’s banking sector “is sufficiently capitalised to continue to support the economy”, even though its cumulative losses would amount to €496 billion in the event of a very pessimistic scenario materialising.

Thestress tests assessed how banks would react to the materialisation of credit, market and operational risks in the event of a drastic downturn in...

Contents

SECTORAL POLICIES
HEALTH: EU ministers establish first principles for open strategic autonomy in EU
RESEARCH: European Research Ministers agree on need for a European framework for science diplomacy
CONSUMERS: European Commission proposes a regulation to strengthen safety of toys placed on EU market
BIODIVERSITY: new European Commission guidelines for sustainable forest management
CLIMATE: despite renewed commitments, G20 ends without consensus
CLIMATE: LIFE programme proposes dashboard for greater transparency on EU climate and environmental projects
ENVIRONMENT: Zero Waste Europe calls on EU to set binding targets for textile waste prevention
INDUSTRY: European Commission consultation on transition to a more resilient agri-food system
ENERGY: ACER calls on market players to improve quality of LNG data communicated
DIGITAL: AI Act, BEUC wants European Parliament’s approach to prevail in interinstitutional negotiations
Russian invasion of Ukraine
RUSSIA: EU sanctions seven people and five Russian entities found responsible for manipulating information
ECONOMY - FINANCE - BUSINESS
BANKS: Europe’s banking sector can withstand macroeconomic shocks, says European Banking Authority
STATE AID: European Commission gives green light to a Hungarian measure worth €2.36 billion to support green transition
FINANCE: shareholder rights, EBA and ESMA believe that progress should be made on issue of disclosure of costs charged by intermediaries
BUDGET: seven NGOs call on European Commission to adopt bold green fiscal policy to achieve EU’s climate objectives
EXTERNAL ACTION
NIGER: after coup d’état, European Union threatens to suspend its budgetary support immediately
NEWS BRIEFS
STATE AID: European Commission approves €246 million Dutch aid scheme to support hydrogen production
ECONOMY: implementation of Italian recovery plan unblocked
ENERGY: in June, Russian LNG imports were lowest since start of war
KUWAIT: EU concerned about increasing use of death penalty
INDUSTRY: European Commission consults on retail and wholesale trade
MIGRATION: United Nations High Commissioner for Refugees calls on Greece to strengthen protection of refugees and asylum seekers
WTO: Ngozi Okonjo-Iweala concerned about difficulties reducing trade restrictions
WTO: United States disappointed that EU is requesting a WTO compliance procedure in dispute over Spanish olives
DRC: EU sanctions nine more people
RESEARCH: ERC to offer European support of €150,000 to 66 projects through ‘Proof of Concept’ grants
SRI LANKA: EU welcomes Sri Lanka’s accession to Comprehensive Nuclear Test Ban Treaty